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
About this deal
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