Shoreline Shoppes

Shoreline Shoppes

Shoreline Shoppes
5781/5783 Bayshore Road
North Fort Myers, FL 33917

$2,214,975

Cap Rate 10.65%
Gross Leasable Area (GLA) 26,492 Sq.Ft.
Price Per Square Foot (GLA) $84
Year Built 2008
Lot Size 2.51 Acres
  • Value-Add Shopping Center – 52 Percent Occupancy
  • Priced Significantly Below Replacement Cost
  • Stabilized 10.65 Percent Cap Rate
  • Below Market Rents
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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: Shoreline 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 Shoreline Shoppes, a value-add shopping center located in North Fort Myers, Florida. The subject property is a 26,492-square foot shopping center built in 2008. The property is currently 52 percent occupied by a mix of local tenants.

Shoreline Shoppes offers investors an opportunity to acquire a value-add shopping center with below market rents and priced below replacement cost. By leasing up the vacant spaces and increasing the current tenants to market rent, the stabilized net operating income of the asset, at 90 percent occupancy, is estimated to be over $235,000 per year.

North Fort Myers is an attractive suburb for those who are looking to take advantage of Fort Myers’ many employment centers, as well as the local beaches, such as Fort Myers Beach and Sanibel Island. Fort Myers is the commercial center of Lee County and is the gateway to the southwest Florida region. The area is a major tourist destination with many people flocking to take advantage of the outdoor lifestyle southwest Florida has to offer. The property is ideally located on busy Bayshore Road with
traffic counts of over 30,000 vehicles per day.

For More Information, Please Contact:

Jim Shiebler

Retail Investment Specialist
239-789-4821
Jim.Shiebler@marcusmillichap.com