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6694 Bayshore Rd, North For...

Private Investor Acquires Retail Property On Bayshore Rd, North Fort Myers For $8.3M
SOLDRetail

Private Investor Acquires Retail Property On Bayshore Rd, North Fort Myers For $8.3M

6694 Bayshore Rd, North Fort Myers...

$8,300,000

$143/SF

Building Size

57,840 SF

Asset Type

Retail

Closing

Nov 22, 2023

AI

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.

Players

Steven Miskew

Broker

$25.1M

vol

2 deals

Broker

North 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

1.91%

Cash-on-Cash

-0.55%

Monthly Payment

$14,164

Annual Debt Svc

$169,964

Annual Cash Flow

$-11,334

DSCR

0.93