Marcus & Millichap Brokers Sell Fort Myers Retail Property For $2M
SOLD
$2,000,000
+ 1
New York
See Similar DealsRetail3,649 SF
Sold 08/09/2020
SOLD
Marcus & Millichap Brokers Sell Fort Myers Retail Property For $2M
18031 S Tamiami Trail, Fort Myers, Fl 33908, Usa
See Similar DealsRetail3,649 SF
Sold 08/09/2020
+ 1
Summary
NEW YORK
Asset Type:Retail
Price Per Square Foot:$548
Total Square Footage:3,649 SF
Transaction Type:Sale
The retail property located at 18031 South Tamiami Trail in Fort Myers has been sold for $2,000,000. The property spans a total area of 3,649 square feet, resulting in a price per square foot of $548.
Summary of transaction details
- Property Type: Retail
- Transaction Amount: $2,000,000
- Market: Fort Myers
- Brokers: Reid Thedford, James Garner, James Medefind, & Jim Shiebler – Marcus & Millichap
The deal was facilitated by Marcus & Millichap's representatives, Reid Thedford, James Garner, James Medefind, and Jim Shiebler. This transaction marks a successful sale in the Fort Myers retail market.
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Deal Type
30 years
10 years
Operating Income
Operating Expenses (Annual)
Net Operating Income (NOI)
$106,666.67
Debt Service Coverage Ratio (DSCR)
0.94x
Cap Rate
5.33%
Cash Flow (Annual)-$7,105.57
Cash-on-Cash Return-1.27%
Monthly Debt Service$9,481.02
Annual Debt Service$113,772.24
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