Investment Property with Long Term Tenant | 3045 Fowler St
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Investment Property with Long Term Tenant 3045 Fowler St
6,608 SF Retail Building Fort Myers, FL 33901 $1,700,000 ($257/SF) 5.20% Cap Rate
Investment Highlights
- Long Term Tenant
- High Traffic Count
- High Visibility
Executive Summary
This freestanding automotive sales and service center is available for sale as an investment property with a long-term tenant in place. Being offered at a 5.2% CAP Rate, the current annual gross income is $98,880 with 3% annual escalations. The lease has 8 1/2 years remaining, expiring on February 28, 2033, with (1) one (3) three-year Option to Renew. The current tenant has been in this same location since 2012 and recently signed a new lease, which includes a personal guarantee.
The building is constructed of concrete block and stucco. It has high visibility with 125 feet of frontage on Fowler Street, a pylon sign, and a 25,500 AADT (2023 Annual Average Daily Traffic) per the FDOT.
The building is constructed of concrete block and stucco. It has high visibility with 125 feet of frontage on Fowler Street, a pylon sign, and a 25,500 AADT (2023 Annual Average Daily Traffic) per the FDOT.
Property Facts
Sale Type
Investment
Property Type
Retail
Property Subtype
Building Size
6,608 SF
Building Class
B
Year Built
1981
Price
$1,700,000
Price Per SF
$257
Cap Rate
5.20%
NOI
$88,400
Tenancy
Single
Building Height
1 Story
Building FAR
0.26
Land Acres
0.57 AC
Zoning
CI - Commercial Intensive (City of Fort Myers)
Parking
30 Spaces (4.54 Spaces per 1,000 SF Leased)
Frontage
125 FT on Fowler
Amenities
- Bus Line
- Pylon Sign
- Signage
PROPERTY TAXES
| Parcel Number | 25-44-24-P2-00100.015F | Improvements Assessment | $0 |
| Land Assessment | $0 | Total Assessment | $405,928 |
PROPERTY TAXES
Parcel Number
25-44-24-P2-00100.015F
Land Assessment
$0
Improvements Assessment
$0
Total Assessment
$405,928
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Investment Property with Long Term Tenant | 3045 Fowler St
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