17521 N Tamiami Trail North Fort Myers, FL 33903
8,000 Sq. Ft. / 45,002 Sq. Ft., 1.033 acres lot size / Retail
Status: Sold
Listing Courtesy of: Don Droke - Berkshire Hathaway FL Realty +1 (239) 390-4016
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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.
property details
Type
Retail
Status
Closed
County
Lee
Year Built
1962
Sq. Ft.
8,000
Lot Size
45,002 Sq. Ft., 1 acres
Listing Id
220016985
Courtesy Of
Don Droke - Berkshire Hathaway FL Realty +1 (239) 390-4016
List Office Phone
+1 239 390 4000
Interior Features
Living Area Units
Sq. Ft.
Exterior Features
Stories
1
Utility & Building Info
Parcel Number
22-43-24-01-00001.026A
Tax Amount
4234
Building Area Total
8,000 Sq. Ft.
Price Per Sq Ft
$125
Architectural Style
1 Story
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