Alico Lakes

Retail-Commercial for Sale
Also listed as Office
Catylist Listing ID: 30332350
Property Subtypes: Street Retail, Other
Building Size (RSF): 48,000 SF
Gross Building Area: See Agent
Sale Price: $10,000,000
Unit Price: $208.33 PSF
Property Use Type: Net Leased Investment (NNN), Investment
Building Name: Alico Business Center
Sale Terms: Undisclosed
Cap Rate: 6.46%
Last Updated: 9/14/2018

Overview / Comments

SVN | KOVA Naples is pleased to present 9961 Interstate Commerce Drive, a 44,423 square foot retail / office building situated on 3.38 acres located in the booming south Ft. Myers / Florida Gulf Coast University submarket. The Alico Business Center is easily accessible from North Fort Myers, Estero, Bonita Springs, and Naples. The property is located in a well established retail pocket located between Corkscrew rd & Alico rd. It's less than a 1/4 mile from Interstate 75, 4.7 miles from Southwest Florida International Airport, 4.2 miles from Florida Gulf Coast University (14,673 student population) and less than 1/2 mile from the 1,000,000 +/- square foot Gulf Coast Town Center. There are also numerous national hotel chains, and national restaurant retailers that are located within the Master Association. Built in Lease escalations, stable / below market Lease rates, and a 9.6% vacancy rate make this an attractive investment with plenty of future upside value.

The Alico Business Center receives ingress / egress from three separate locations within the property and an additional three points of ingress / egress from Alico Rd. & Ben Hill Griffin Parkway. There is a total of 22,000 +/- square feet of first floor retail and 22,000 +/- square feet of 2nd floor office space. The property has 243 parking spaces on site with additional parking available within the Master Association. The building has been professionally managed and is in excellent condition with no deferred maintenance.

Additional Details

Nearest MSA: Cape Coral-Fort Myers
County: Lee
Tax ID/APN: 034625010000K0000
Zoning: CPD
Retail Clientele: General, Business
Property Located Between: Ben Hill Griffin & Alico Rd.
Property Visibility: Excellent
Largest Nearby Street: Alico Road
Site Description: •Tenants Include: Jimmy John's, Sphinx Cross Fit Gym, Victory Marketing Group, Adknowledge, Platinum Fitness •Great exposure from Alico Road and I-75 •2 miles from FGCU (Florida Gulf Coast University) •Multiple 1st floor retail space available •Between 3 hotels and across from Gulf Coast Town Center •Located 2 miles from Southwest Florida International Airport
Tenancy: Multiple Tenants
Total Number of Buildings: 1
Number of Stories: 2
Typical SF / Floor: 24,000 SF
Year Built: 2007
Year Renovated: 2015

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Photograph of Listing Agent

Eric Edwards

SVN Kova Naples SWFLCA Member
Photograph of Listing Agent

Bryan Flores

SVN Kova Naples SWFLCA Member
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