Old Republic Exchange Co. Acquires Retail Property In Fort Myers, FL For $2.7M
19300 South Tamiami Trail, Fort Myers, Florida 33908, United States
$2,700,000
$450/SF
Building Size
6,000 SF
Asset Type
Retail
Closing
Aug 24, 2022
About this deal
AI
A retail property located at 19300 S Tamiami Trail in Fort Myers, FL, has been sold for $2,700,000. The property spans 6,000 square feet, resulting in a price per square foot of $450. The transaction took place on August 25, 2022.
Summary of transation details
- Property Type: Retail
- Transaction Amount: $2,700,000
- Address: 19300 S Tamiami Trail, Fort Myers, FL
- Market: Fort Myers, FL
The buyer in this transaction was Old Republic Exchange Co., while the seller was Marina Mike's. The deal was facilitated by Michael Mahan of Lee & Associates.
Players
Fort Myers Retail Market Snapshot
Boundary boundary · Retail · Sale transactions
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Purchase Price
Annual NOI
Loan Amount
Interest Rate (%)
Loan Term (yrs)
Down Payment (%)
Cap Rate
5.88%
Cash-on-Cash
-1.68%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93