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19300 S Tamiami Trail

Updated Dec 20, 2023

Old Republic Exchange Co. Acquires Retail Property In Fort Myers For $2.7M
SOLD

Old Republic Exchange Co. Acquires Retail Property In Fort Myers For $2.7M

19300 S Tamiami Trail

Building Size

Asset Type

Closing

Aug 25, 2022

About this deal

AI

The retail property located at 19300 S Tamiami Trail in Fort Myers, FL has been sold. The property spans 6,000 square feet and was sold for a price of $2,700,000, resulting in a price per square foot of $450. The transaction took place on 08/25/2022.

Summary of transaction details:

  • Property Type: Retail
  • Sale Price: $2,700,000
  • Square Footage: 6,000
  • Price per Square Foot: $450
  • Address: 19300 S Tamiami Trail, Fort Myers, FL
  • Market: Fort Myers, FL

The buyer of the property is Old Republic Exchange Co., while the seller is Marina Mike's. The transaction was facilitated by Michael Mahan of Lee & Associates.

Players

Fort Myers CRE Market Snapshot

Boundary boundary · CRE · Sale transactions

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Purchase Price

Annual NOI

Loan Amount

Interest Rate (%)

Loan Term (yrs)

Down Payment (%)

Cap Rate

5.80%

Cash-on-Cash

-1.66%

Monthly Payment

$14,164

Annual Debt Svc

$169,964

Annual Cash Flow

$-11,334

DSCR

0.93

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