Private Investor Acquires Retail Property On Bayshore Rd, North Fort Myers For $8.3M
SOLD
$8,300,000
Florida
See Similar DealsRetail57,840 SF
SOLD
Private Investor Acquires Retail Property On Bayshore Rd, North Fort Myers For $8.3M
6694 Bayshore Rd, North Fort Myers...
See Similar DealsRetail57,840 SF
Summary
FLORIDA
Asset Type:Retail
Price Per Square Foot:$143
Total Square Footage:57,840 SF
Transaction Type:Sale
The Publix at Eagle Landing is a 57,840-square-foot, Publix-anchored shopping center located at 6694-6704 Bayshore Road in North Fort Myers. Built in 2012, the shopping center was 88 percent leased at the time of sale to tenants such as Shoreline Vapor, China King, Boutique Nails & Spa, and The Fat Apple. The property sits seven miles north of downtown Fort Myers.
Summary of transaction details:
- Property Type: Retail
- Transaction Amount: $8,300,000.00
- Address: 6694 Bayshore Rd, North Fort Myers
- Market: North Fort Myers
- Seller's Rep: Steven Miskew, Kyle Stonis, and Pierce Mayson of SRS
- Buyer: Private Investor
Steve Miskew, Kyle Stonis, and Pierce Mayson of SRS represented the seller, VAL Eagle Landing LLC, in the $8.3 million transaction. The buyer of the Publix at Eagle Landing was an undisclosed private investor based in Alabama.
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Deal Type
30 years
10 years
Operating Income
Operating Expenses (Annual)
Net Operating Income (NOI)
$442,666.67
Debt Service Coverage Ratio (DSCR)
0.94x
Cap Rate
5.33%
Cash Flow (Annual)-$29,488.14
Cash-on-Cash Return-1.27%
Monthly Debt Service$39,346.23
Annual Debt Service$472,154.81
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