Marcus & Millichap Brokers Sell Fort Myers Retail Property For $2M
18031 S Tamiami Trail, Fort Myers, Fl 33908, Usa
$2,000,000
$548/SF
Building Size
3,649 SF
Asset Type
Retail
Closing
Aug 8, 2020
AI
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.
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
7.93%
Cash-on-Cash
-2.27%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93