INVESTMENT PROPERTY WITH LONG-TERM TENANT | 5.2% CAP RATE | FOWLER STREET
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3045 Fowler Street, Fort Myers, FL 33901
Listing 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 5.2% 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.
Additional Information
Property Taxes: $10,220.56 (2023)
Zoning: CI (Commercial Intensive) City of Fort Myers
Bays / Overhead Doors: 7
Paint Booth: Included in Sale
PLEASE DO NOT DISTURB THE TENANTS
Contact Ethan Schumacher at (239)220-3042 to arrange a showing appointment.
Additional Information
Additional Files
Agent Information
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Ethan Schumacher
Email: EthanSchumacher@viprealty.com
Phone: (239)489-1100
Cell Phone: (239)220-3042