Property: Three (3) Condo Units in Midtown Professional Centre
Location: Fort Myers, FL
Details:
Type: Professional Office Condos
Size: Varies per unit
Lease Type: Triple Net (NNN) at $12/SF
Investment Highlights:
Cap Rate: 6.72% (Proforma)
Value-Add Opportunity: Potential for increased rents upon lease renewals in 2025
Current Leases: Two of the three leases set to re-set in 2025, presenting potential for higher rental income
Discover a prime investment opportunity with these three professional office condos in the sought-after Midtown Professional Centre. With an advertised cap rate of 7% based on proforma, and lease re-sets at $12/SF triple net, this property offers a solid return on investment. Additionally, a value-add opportunity exists if higher rents are achieved when current leases reset in 2025.