Key Estero Shoppes

Key Estero Shoppes

Key Estero Shoppes
1661 Estero Boulevard
Fort Myers Beach, FL 33931

$5,250,000

Cap Rate N/A
Gross Leasable Area (GLA) 49,416 Sq.Ft.
Price Per Square Foot (GLA) $106
Year Built 1976
Lot Size 2.60 Acres
  • Redevelopment Opportunity
  • Over 2.6 Acres on Fort Myers Beach
  • Annual Vacation Destination for 2.5 Million Tourists and Seasonal Residents
  • Less Than 1,500 Feet From the Grand Resorts Fort Myers Beach Development to Include a New 300-unit Hotel
  • Average Net Worth is $1,205,548 Within Five Miles
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Confidentiality and Buyer Registration Agreement

Marcus & Millichap Real Estate Investment Brokerage Company (“Broker”) has been asked to serve in the capacity of exclusive agent for the (“Seller”) regarding the potential sale of the properties known as: Key Estero Shoppes (the "Property").

To receive financials and other vital data please read, sign and return this completed Confidentiality Agreement to Broker. The property information has been prepared by Broker for use by a limited number of parties and does not purport to provide a necessarily accurate summary of the property or any of the documents related thereto, nor does it purport to be all-inclusive or to contain all of the information that prospective Buyers may need or desire. No representation is made by Broker or the Seller as to the accuracy or completeness of the information contained herein, and nothing contained herein shall be relied on as a promise or representation as to the future performance of the property.

By accepting the financial reports and market data, you agree to indemnify, defend, protect and hold Seller and Broker and any affiliate of Seller or Broker harmless from and against any and all claims, damages, demands, liabilities, losses, costs or expenses (including reasonable attorney’s fees, collectively “Claims”) arising, directly or indirectly from any actions or omissions of Buyer, its employees, officers, directors or agents.

Buyer shall indemnify and hold Seller and Broker harmless from and against any claims, causes of action or liabilities, including, without limitation, reasonable attorney’s fees and court costs which James Medefind or Marcus & Millichap REIS may be incurred with respect to any claims for other real estate commissions, broker’s fees or finder’s fees in relation to or in connection with the Property to the extent claimed, through or under Seller.

The Financial Reports and market data, except such information that is a matter of public record or is provided in sources available to the public, are of a confidential nature. By accepting the property information, you agree that you will hold and treat it in the strictest confidence, that you will not photocopy or duplicate it, that you will not disclose the information or any of the contents to any other entity (except to outside advisors retained by you, if necessary for you determination of whether or not to make an offer and from whom you have obtained an agreement of confidentiality) without prior written authorization of the Seller or Broker, and that you will not use the information or any of the contents in any fashion or manner detrimental to the interest of the Seller or Broker.

No employee of Seller or at the subject property is to be contacted without the written approval of the agent and doing so would be a violation of this confidentiality agreement.

 

Marcus & Millichap is pleased to offer for sale this redevelopment opportunity in Fort Myers Beach, FL, an affluent tourist destination.

The subject property is 2.64 acres zoned C-1 (Downtown Zoning) with approximately 260 feet of frontage on Estero Boulevard. Although there is an existing shopping center on the property and positive cash flow in place, this is an ideal redevelopment opportunity in an irreplaceable tourist destination.

This site is one of the largest parcels on all of Fort Myers Beach. In addition, it sits less than 1,500 feet from the proposed Grand Resorts 300-unit Hotel and is at the heart of the Fort Myers Beach Downtown District. The subject property sits directly across the street from Hooters of Fort Myers Beach, a short walk to over 40 lodging options along the beach that include everything from rustic cottages to the Wyndham Garden of Fort Myers Beach.

Lee County hosted 4.9 million visitors in 2015 with 91 percent of them visiting the beaches of Ft. Myers and Sanibel. Between the vacationing tourists and the high net-worth residents, total expenditures were just under $3 billion last year. This is an opportunity for an investor to secure a large parcel in an irreplaceable location.

For More Information, Please Contact:

James Medefind

First Vice President Investments
(813) 387-4788
james.medefind@marcusmillichap.com