239-258-6138
, Fort Myers, FL for Sale
Office - FOR SALE
1/22
null | Request Cap Rate

1342 Colonial Blvd Fort Myers
Fort Myers, FL
Page Park


HIGHLIGHTS

  • 40,684 SF Office and Retail portfolio Entire Buildings & Individual Office Condos
  • Located in high-demand Fort Myers Corridor
  • Competitive Leasing at $22.50 Modified Gross with additional upside
  • Value-Add Upside through lease-up, rent growth, Executive Suites Conversion, and Future Development
  • First Year Potential NOI After Sabalization $691,777

OVERVIEW

This 40,684 SF office and retail portfolio offers immediate in-place income with significant upside through lease-up and future condominium sales. The property currently generates approximately $240,000 in annual gross income, providing strong carry while the remaining space is leased. Based on conservative lease-up assumptions of $22.50 PSF modified gross rents, the property has the potential to reach approximately $970,915 in gross income and an estimated $691,777 in stabilized NOI. At a 7% cap rate, this supports an estimated stabilized value near $9.9 million. The property is being offered for $7,999,999 and includes approximately $600,000 in roof replacement escrow transferring to the buyer at closing, reducing the effective capital basis while addressing a major near-term capital expense. Investors also benefit from multiple additional value-creation strategies, including the ability to sell individual office condos in the future, convert Building F into executive suites, or explore development or partial disposition of approximately one acre of excess land, subject to approvals.

ASK ABOUT THIS PROPERTY

Matthew TuccioSVN Commercial PartnersMore Info
239-258-6138

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Matthew TuccioSVN Commercial PartnersMore Info
239-258-6138

By clicking the button, you agree to Showcase's Terms of Use and Privacy Notice.