Courtney Plaza Commercial Ctr @ 9+ CAP Rate

Retail-Commercial for Sale
Catylist Listing ID: 30190236
Property Subtypes: Free-Standing Building, Street Retail
Building Size (RSF): 7,327 SF
Gross Building Area: 8,189 SF
Gross Land Area: 23,223 SF
Sale Price: $1,197,000
Unit Price: $163.37 PSF
Property Use Type: Net Leased Investment (NNN)
Building Name: Courtney Plaza
Sale Terms: Cash to Seller
Cap Rate: 8.58%
Last Updated: 9/25/2018

Overview / Comments

Property is directly across from EDISON MALL and on same signalized intersection as entrance to Mall. This location has great visibility which creates more tenant interest. Excellent pylon and marquee signage. FULLY LEASED on longer term NNN leases. New roof and exterior paint 2018.
New lease for unit A (Bridal Shoppe) five years beginning at $22.00 p.s.f. NNN.
Cleveland Ave. (aka U. S. 41) is the main north/south business artery. Edison Mall ( www.simon.com/mall/?ID=129 )is a Mega mall with 137 stores and eateries in an indoor setting.

Additional Details

Nearest MSA: Cape Coral-Fort Myers
County: Lee
Taxing Authority: Fort Myers
Tax ID/APN: 35-44-24-P3-00068.0090
Zoning: C-I (COMMERCIAL INTENSIVE)
Market Type: Medium
Retail Clientele: Business
Property Located Between: Colonial and Winkler
Side of Street: West
Road Type: Paved, Highway
Property Visibility: Excellent
Largest Nearby Street: Cleveland Ave
Feet of Frontage: 113
Traffic/Vehicle Count: 55,842
Transportation: Bus, Highway, Airport, Taxi
Highway Access: U.S. 41 frontage / 5 miles to I-75 exit 136, 20 min. to RSW International, 11 minutes to Del Prado Blvd (Cape Coral)
Airports: Regional Southwest (RSW)
Site Description: Level site with in/out on Cleveland and in/out on Courtney Dr.
Area Description: Major commercial / retail district
Tenancy: Multiple Tenants
Total Number of Buildings: 1
Number of Stories: 1
Property Condition: Fair
Year Built: 1970
Year Renovated: 2017
Roof Type: Flat
Construction/Siding: Concrete
Exterior Description: CBS
Total Parking Spaces: 22
Parking Ratio: 3 (per 1000 SF)
Parking Type: Surface
Parking Description: Common
Sprinklers: None
Heat Type: Electricity
Heat Source: Central
Air Conditioning: Package Unit
Internet Access: Cable, DSL, Satellite, T1/T3
Zoning Description: Commercial Intensive (CI), City of Fort Myers
Lot Frontage: 113
Lot Depth: 203
Water Service: Municipal
Sewer Type: Municipal
Land Ownership: fee simple
Legal Description: PARL IN NE 1/4 OF SE 1/4 DESC IN OR 997 PG 788

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