4904 S Cleveland Ave - Freestanding FOR SALE


Fort Myers, FL 33907- Page Park
$4,200,000 USD
781-776-4000
4904 S Cleveland Ave, Fort Myers, FL for Sale
$4,200,000 USD
Freestanding - FOR SALE
1/6
null | 5.15% Cap Rate

4904 S Cleveland Ave
Fort Myers, FL 33907
Page Park


HIGHLIGHTS

  • Attractive Rent Increases
  • Zero Landlord Responsibilities
  • Corporate Operator
  • Strategic Retail Location
  • High Traffic Counts
  • Strong Demographics

OVERVIEW

Horvath & Tremblay is pleased to present the exclusive opportunity to purchase a single-tenant, net-leased Krispy Kreme located at 4904 S Cleveland Avenue in Fort Myers, Florida (“the Property”). The Property consists of a 3,227 square foot freestanding building on a 1.10-acre lot. Krispy Kreme has 15+ years remaining on its Absolute NNN Lease with four (4), 5-year renewal options. The lease calls for attractive increases in rent every five years throughout the primary lease term and at the start of each renewal option. Krispy Kreme is prominently located along S Cleveland Avenue (US Route 41), the area’s primary commercial and commuter corridors with outstanding daily traffic counts. The Property benefits from strong visibility and accessibility (with a dedicated northbound turning lane) and sits in front of the newer construction Grand Central, a 280-unit luxury apartment community. The Property is positioned 3 miles south of Downtown Fort Myers and is surrounded by national retailers and restaurants, area schools, and countless hotels that provide consistent vehicular and pedestrian traffic. Krispy Kreme is also close to dense residential neighborhoods with numerous apartment complexes and single-family homes offering a steady and reliable customer base throughout the day.

FOR SALE DETAILS

PRICE

$4,200,000 USD

PRICE/SF

$1,302 USD /SF

CAP RATE

5.15%

% LEASED

-

TENANCY

Single

SALE TYPE

Investment

BUILDING DETAILS

PROPERTY NAME

Krispy Kreme

PROPERTY TYPE

Retail

PROPERTY SUBTYPE

Freestanding

ADD'L SUBTYPES

Fast Food

TOTAL BUILDING SIZE

-

STORIES

1

YEAR BUILT

2018

SPRINKLERS

-

PARKING SPACES

-

LAND DETAILS

LAND ACRES

1.1 AC

LAND SF

47,916 SF

ZONING

C1

APN/PARCEL ID

02-45-24-P3-32000.0010

ASK ABOUT THIS PROPERTY

Ken SaluteHorvath & TremblayMore Info
781-776-4000

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Ken SaluteHorvath & TremblayMore Info
781-776-4000

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