18070 S Tamiami Trail 105, Fort Myers, FL 33908

Commercial property for lease

• Description
• A VALUE ADD "Bite-size" Investment opportunity with a 6.74% CAP rate and just under 2 years left on the existing lease. Current rent at $10.30 psf is well below market and when the lease expires (no tenant options to extend) in April of 2021 you can boost your return by obtaining a higher rental rate that more closely matches the market, around $12 psf currently. This is a triple net lease with tenant paying all pass-through expenses (condo fees, real estate taxes, etc.) in addition to the base rent of $19,879 per year. Lease also includes a provision that lease can be terminated upon sale of the property, so your buyer may have the tenant vacate with 30-days notice if desired. The property is located in Preserve Plaza, a 16-unit retail/office strip center in the San Carlos area with great frontage and visibility to US 41/S Tamiami Trail, in South Fort Myers/Lee County.Lots of upside potential. Considering that the lease has only 3% annual base rent increases during the initial 3-year term, and the tenant wants to stay, it is quite likely you could increase rent when the lease expires and improve your return. An increase to $12 psf puts the CAP rate near 8% just under 2 years from now.
• Exterior Features

• Parking Type:

  Surface

• Contact info
• Ed Boeder
• Note

• Details Info about this row that located on 18070 S Tamiami Trail 105, Fort Myers, FL 33908 was got from trusty sources, but HousesForSaleList.com can't guarantee that details about listing price, status, facts, images and owner are correct, because this listing can be changed or removed from market without notice. If You need to receive additional details about this property try to ask directly listing agent or owned.

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