13160 N Cleveland AVE Active

North Fort Myers,FL 33903

$ 1200000

- Bed

- Bath

1780 SqFt


Key Details

Property Type Commercial

Sub Type Retail-Commercial: Free Standing Building,Retail-Commercial: Restaurant

Listing Status Active

Purchase Type For Sale

Square Footage 1,780 sqft

Price per Sqft $674

MLS Listing ID 223032736

Originating Board Florida Gulf Coast

Year Built 1974

Annual Tax Amount $12,108

Tax Year 2022

Lot Size 0.579 Acres

Acres 0.579

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

Zoning C-1A

Interior

Inclusions Building And Land

Exterior

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

Waterfront Description None

Private Pool No

Building

Sewer Septic Tank

New Construction No

Others

Tax ID 11-44-24-00-00017.4A70

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