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Well Maintained Building | Perfect for Owner User or Investor

$849,000

1520 Southeast 46th Lane, Cape Coral, FL 33904

Active
Last Updated: 04/24/2023

4.19

Cap Rate

35,600

NOI

Details:
Cap Rate:    4.19%
NOI:    $35,600
Pro Forma Cap Rate :    8.1%
Building Size:    6,900 sqft
Lot Area:    12,500 sqft
Class:    C
Lease Type:    Modified Gross
Year Built:    1976
Price Per Sqft:    $123.04
Zoning:    SC
Description:

Located Just off Del Prado in Downtown Cape Coral, this well maintained building is perfect for an owner user or investor. Longtime owner/operators are retiring and no longer need the building. The owners currently occupy two units and two tenants occupy the remaining two spaces which are approximately1,625 SF +/- each. Three units have ten foot overhead doors in the rear. The current rents are well below market rent and offer plenty of room for improvement. Current leases are on an annual basis. Proforma is based on $12 PSF average. SC zoning allows for a wide number of uses and parking is adequate for its current use. Upon sale the owners are willing to remain with a new lease or vacate. The business is also available separately if so desired and owner will stay for two months to allow for training and orientation.

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