1520 SE 46th Ln

Shopping Center for Sale
Catylist Listing ID: 30809928
Property Subtypes: Strip Center
Building Size (RSF): 6,500 SF
Gross Building Area: 6,900 SF
Gross Land Area: 12,500 SF
Sale Price: $849,000
Unit Price: $130.62 PSF
Property Use Type: Investment, Business
Usable Size (USF): 6,500 SF
Sale Terms: Cash to Seller, Sale/Leaseback
Cap Rate: 4.5%
Average Occupancy Rate: 100
Last Updated: 11/17/2022

Overview / Comments

Located Just off Del Prado in Downtown Cape Coral with a NEW ROOF and 4 New AC Units, this well maintained building is perfect for an owner user or investor. Longtime owner/operators are retiring and no longer need the building. The owners currently occupy two units and two remaining spaces are approximately 1,625 SF +/- each. Three units have ten foot overhead doors in the rear. The current rents are well below market rent and offer plenty of room for improvement. Current leases are on an annual basis. SC zoning allows for a wide number of uses and parking is adequate for its current use. Upon sale the owners are willing to remain with a new lease or vacate. The business is also available separately if so desired and owner will stay for two months to allow for training and orientation.

Financials

Finance Data Year 2021
Real Estate Taxes - Annual($) $7,969 (Annual)
Tax Value Land $87,060
Tax Value Improvements $428,838
Assessed Value - Total($) $425,195 (Annual)
Potential Rental Income $78,000 (Annual)
Net Operating Income $68,764 (Annual)
Gross Operating Income $78,000 (Annual)
Actual or Proforma Year Proforma

Additional Details

Nearest MSA: Cape Coral-Fort Myers
County: Lee
Submarket Type: Central Business District
Tax ID/APN: 074524C3003620110
Retail Clientele: General
Property Located Between: SE 46th St and SE 47th St
Property Visibility: Good
Largest Nearby Street: Del Prado Blvd S
Feet of Frontage: 100
Highway Access: Ten minutes to 41 and 20 minutes to I-75
Airports: RSW and Page Field
Site Description: rectangular 100 x 125 with alley in back
Area Description: The area is comprised of mostly retail with some office mixed in.
Total Number of Buildings: 1
Number of Stories: 1
Typical SF / Floor: 1,625 SF
Property Condition: Good
Year Built: 1976
Roof Type: Flat
Construction/Siding: Concrete
Exterior Description: With zero lot line the building utilizes the maximum amount of space. Building/site = 55%
Parking Type: Surface
Parking Description: Open, surface
Total Parking Spaces: 10
Sprinklers: None
Heat Type: Electricity
Heat Source: Central
Air Conditioning: Engineered System
Internet Access: Cable
Interior Description: Current owner occupies two units and the remaining two anre occupied by a beauty salon and a roofing contractor.
Zoning Description: SC (South Cape) allows for a vast amount of commercial uses.
In Flood Plain?: Yes
Lot Frontage: 100
Lot Depth: 125
Water Service: Municipal
Sewer Type: Municipal
Land Ownership: Fee simple
Legal Description: Cape Coral Unit 7 BLK 362 PB 12 PG 119 Lots 11 thru 14

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Demographic Statistics

Proximity: 1 mile 3 miles 5 miles
Total Population: 7,048 63,853 183,349
Median Age: 54.55 51.65 48.3
Households: 3,738 29,889 82,908

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