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A & B Florida Ventures LLC Acquires Retail Property In Fort Myers For $13.2M

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SOLD
$13,200,000

Florida

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Retail65 SF
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SOLD

A & B Florida Ventures LLC Acquires Retail Property In Fort Myers For $13.2M

13741 S Tamiami Trl, Fort Myers, Florida 33912, United States

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Retail65 SF
Sold
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Summary

FLORIDA
Asset Type:Retail
Price Per Square Foot:$203076
Total Square Footage:65 SF
Transaction Type:Sale

Located in Fort Myers, the retail property at 13741-13749 S. Tamiami Trail has been sold in a recent transaction. The property, spanning 65,688 square feet, was purchased by A & B Florida Ventures LLC from Market Square Owner LLC for a sale price of $13,200,000. With a price per square foot of $201, this transaction highlights the robust real estate market in Fort Myers.

Summary of transaction details

  • Property Type: Retail
  • Transaction Amount: $13,200,000
  • Address: 13741-13749 S. Tamiami Trail
  • Market: Fort Myers
  • Buyer: A & B Florida Ventures LLC
  • Seller: Market Square Owner LLC
  • Broker: Jim Shiebler - Marcus & Millichap
  • Square Footage: 65,688
  • Price per Square Foot: $201

The transaction was facilitated by Jim Shiebler of Marcus & Millichap, representing the buyer. This successful deal not only demonstrates the buyer's commitment to expanding their portfolio in the Fort Myers retail market but also signifies the expertise and effectiveness of Jim Shiebler in negotiating property transactions.

Players

Jim Shiebler
20 deals$139.9M volume
BROKER

Marcus & Millichap
BROKERAGE

Details

SOLD
IMAGE: Jim Shiebler DATE: 12/06/2022 ADDRESS: 13741-13749 S. Tamiami Trail MARKET: Fort Myers ASSET TYPE: Retail BUYER: A & B Florida Ventures LLC SELLER: Market Square Owner LLC BROKER: Jim Shiebler - Marcus & Millichap (@MarcusMillichap_fl) SALE PRICE: $13,200,000 SF: 65,688 ~ PPSF: $201

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Deal Type
Operating Income
Operating Expenses (Annual)
Net Operating Income (NOI)

$703,999.99

Debt Service Coverage Ratio (DSCR)

0.94x

Cap Rate

5.33%

Cash Flow (Annual)-$46,896.82
Cash-on-Cash Return-1.27%
Monthly Debt Service$62,574.73
Annual Debt Service$750,896.81