840 SW 4th ST #1-7, Cape Coral, FL 33991 – 224024375

$1,850,000

$1,999,000

7.5%

Est.Price: ?

For more information regarding the value of a property, please contact us for a free consultation.

Est. payment -/mo

8,866 SqFt

SOLD DATE : 05/21/2024

Key Details

Sold Price $1,850,000

Property Type Commercial

Sub Type Office: Office Building

Listing Status Sold

Purchase Type For Sale

Square Footage 8,866 sqft

Price per Sqft $208

MLS Listing ID 224024375

Sold Date 05/21/24

Originating Board Florida Gulf Coast

Year Built 2007

Annual Tax Amount $15,582

Tax Year 2023

Lot Size 0.732 Acres

Acres 0.732

Property Description

This is a well maintained multi tenant professional office building located along the Pine Island Road Corridor and conveniently located behind Bonefish Grill, Dante's Pizza, House of Omelet's and Leslie's Pools. Easy access from Chiquita Blvd, Pine Island Road and Skyline Blvd. One 1,200 sf unit will becoming avaiable within the next 30 days giving a buyer the chance to occupy the space as an owner user or release the unit at market rent. Current cap rate should hover in the range of 5.8% - 6% and should continue to increase with the annual rent increases that are built in existing leases. Units 1 through 6 are approximately 1,200 sf each, with unit 7 coming in at 1,800 sf.

Location

State FL

County Lee

Area Cc23 - Cape Coral Unit 28, 29, 45, 62, 63, 66, 68

Zoning CORR

Direction SR 78 (Pine Island Rd.) to Skyline Blvd. (turn south), in one block, turn west on SW 4th Street. Travel 800 feet and the complex will be on the left (south side of the street).

Interior

Heating forced

Cooling central

Exterior

Utilities Available Electricity Available, Phone Available, Sewer Available, Trash Removal, Water Available

Waterfront Description Canal Front,Fresh Water,Seawall

Present Use Investment

Total Parking Spaces 28

Private Pool No

Building

Faces SR 78 (Pine Island Rd.) to Skyline Blvd. (turn south), in one block, turn west on SW 4th Street. Travel 800 feet and the complex will be on the left (south side of the street).

New Construction No