Cape Coral - Investment property

Retail-Commercial for Sale
Catylist Listing ID: 30760538
Property Subtypes: Street Retail
Building Size (RSF): 2,186 SF
Gross Land Area: 3,311 SF
Sale Price: $453,000
Unit Price: $207.23 PSF
Property Use Type: Investment
Sale Terms: Cash to Seller
Cap Rate: 6.5%
Last Updated: 9/10/2021

Overview / Comments

Well maintained retail/office investment property in a prime high-profile, high visibility, high traffic, easy access down town location that is leased to two long term tenants. The building has a flexible floor plan that can be divided into 5 units. Currently 100% leased to NO.3 Craft Brewery which just signed a new 5 year lease for the front 3 units and the 2 rear units are occupied by Preferred Services offering financial planning, CPA, and insurance services. This company has signed 17 one-year leases at this location. The owner just recently installed two new AC units. A unique feature of the property is that the building's front elevation extends further out towards Cape Coral Parkway then all of the surrounding buildings which makes this the highest visibility location on the street. Property parking is outstanding with on-street parking in the front and the large "Big Johns" public parking lot to the rear of the building. The building also features an enclosed pedestrian hallway that connects Cape Coral Parkway to the "Big Johns" lot.

Additional Details

Nearest MSA: Cape Coral-Fort Myers
County: Lee
Tax ID/APN: 184524C2010640260
Zoning: SC
Retail Clientele: General, Family, Business, Tourist
Property Visibility: Excellent
Largest Nearby Street: Cape Coral Parkway E.
Feet of Frontage: 34
Area Description: Downtown Cape Coral
Tenancy: Multiple Tenants
Total Number of Buildings: 1
Property Condition: Good
Year Built: 1965
Roof Type: Flat
Construction/Siding: Block
Parking Type: Surface
Parking Description: On street parking in front of building. Public parking lot in rear of building.
Air Conditioning: Package Unit
Zoning Description: SC - downtown CRA district
Water Service: Municipal
Sewer Type: Municipal

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Demographic Statistics

Proximity: 1 mile 3 miles 5 miles
Total Population: 9,085 64,068 180,740
Median Age: 54.71 51.89 48.48
Households: 4,749 30,052 81,472


Photograph of Listing Agent

Jack Britton, CCIM

Professional Realty Consultants
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