13160 N Cleveland AVE Active

North Fort Myers,FL 33903

$ 1200000

- Bed

- Bath

1780 SqFt


Key Details

Property Type Commercial

Sub Type Retail

Listing Status Active

Purchase Type For Sale

Square Footage 1,780 sqft

Price per Sqft $674

MLS Listing ID 223032736

Year Built 1974

Annual Tax Amount $12,108

Tax Year 2022

Lot Size 0.579 Acres

Property Description

G&A Restaurant Management, Inc., the Tenant, owns and operates nine KFC restaurants and a Famous Dave?s Bar-B-Que in the fast-growing state of Florida. The owner of G&A Restaurant Management Inc. has been operating KFCs since 1996, nearly 30 years. Most restaurants, like the KFC in North Fort Myers, are located in southwest Florida in well-established communities with a rapidly expanding population and strong economies.

This KFC in North Fort Myers is well located on US 41, a major US north-south route with nearly 230,000 residents within a 15-minute drive and 52,000 employees within a 10-minute drive.

Absolute NNN Lease - No Landlord Responsibilities
Price: $2,8250,000
CAP: 4.25%
NOI: $120,000
Rent Escalation of 10% every 5 years
10 year Lease with 5 Five-Year Options

Location

State FL

County Lee

Area Fn06 - North Fort Myers Area

Exterior

Utilities Available Electricity Available, Natural Gas Available, Phone Available, Sewer Available, Septic Available, Trash Collection, Water Available

Waterfront No

Waterfront Description None

Building

Story 1

Sewer Septic Tank

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