$920,000
$997,000
7.7%For more information regarding the value of a property, please contact us for a free consultation.
17521 N Tamiami TRL North Fort Myers, FL 33903
8,000 SqFt
Key Details
Sold Price $920,000
Property Type Commercial
Sub Type Retail
Listing Status Sold
Purchase Type For Sale
Square Footage 8,000 sqft
Price per Sqft $115
MLS Listing ID 220016985
Sold Date 12/23/20
Construction Status Resale
HOA Y/N No
Year Built 1962
Annual Tax Amount $4,234
Tax Year 2019
Lot Size 1.033 Acres
Acres 1.0331
Property Description
Desirable high-visibility premium NNN income-generating investment property, being sold 'As Is'. Located at 17521 N. Tamiami Trail (US 41) in North Fort Myers, SW Florida (just south of Del Prado and just north of the intersection of US 41 and Business 41). The property has an in-place net operating income of $71,717, yielding a 7.18% cap rate. Lease structure is NNN (triple net): the tenant pays all expenses. The property houses a well-established golf cart business, Affordable Golf Carts, that sells, services and repairs new and used golf carts, with no fall-off of business during COVID-19 and never missed a rent payment. These top-of-the-line golf carts can be used on golf courses and also on streets in residential communities. The tenant recently renewed the lease with an expiration in 2026, and there are three 5-year options remaining with 3% annual rent increase. Affordable Golf Carts is one of the largest businesses of its kind in Southwest Florida, with five locations serving Lee, Collier and Charlotte counties and as well as further afield. The lease guarantor is the owner of all five locations, and the business continues to expand throughout the Southwest Florida market.
Location
State FL
County Lee
Area Fn07 - North Fort Myers Area
Rooms
Bedroom Description NaN
Interior
Fireplace No
Exterior
Fence Yard Fenced
Utilities Available Electricity Available, Phone Available, Sewer Available, Trash Collection, Water Available
Waterfront Description None
Present Use Commercial
Garage No
Building
Story 1
Construction Status Resale
Others
Senior Community No
Tax ID 22-43-24-01-00001.026A
Financing Cash
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