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$ 1,700,000
Est. payment | /mo
8,048 SqFt
$ 1,700,000
Est. payment | /mo
8,048 SqFt
Key Details
Property Type Commercial
Listing Status Active
Purchase Type For Sale
Square Footage 8,048 sqft
Price per Sqft $211
MLS Listing ID 224073635
HOA Y/N No
Originating Board Florida Gulf Coast
Year Built 1981
Annual Tax Amount $10,646
Tax Year 2023
Lot Size 0.575 Acres
Acres 0.575
Property Description
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% CAP Rate, the current annual gross income is $101,846.40 with 3% annual escalations. The lease has 8 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 27,697 AADT (2024 Annual Average Daily Traffic) per the Lee County TCDS.
Location
State FL
County Lee
Zoning C1
Interior
Inclusions Building And Land
Fireplace No
Exterior
Waterfront Description None
Garage No
Building
Story 1
Level or Stories 1
New Construction No
Others
Senior Community No
Tax ID 25-44-24-P2-00100.015F
Listed by VIP Realty Group Inc • Ethan Schumacher
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Jeanne Drath
Broker Associate | Lic# BK3372743