Taco Bell | Fort Myers

Taco Bell | Fort Myers

Taco Bell | Fort Myers
3431 Cleveland Ave
Fort Myers, FL 33901

$2,741,000

Cap Rate 6.20%
Gross Leasable Area (GLA) 2,939 Sq.Ft.
Price Per Square Foot (GLA) $933
Year Built 2000
Lot Size 0.96 Acres
  • 8.4 Years Remaining on Triple-Net Lease - No Landlord Responsibilities
  • Bold Choice Concept Design
  • 56,000 Plus Cars Per Day on South Cleveland Avenue (US Highway 41)
  • Located in the Heart of Dense Ft. Myers Retail Corridor
  • Ideally Located Between Edison Mall, Lee Memorial Hospital and Ft. Myers High School
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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: Taco Bell | Fort Myers (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 exclusively offer for sale this 2,939-square foot freestanding Taco Bell located in Ft. Myers, Florida. The property lies on busy Cleveland Avenue with easy ingress/egress and a daily average traffic count of 56,000 cars. The property caters to the local residents and businesses with an average household income of $59,019.

Coastal QSR, a 99-unit operator, has 8.4 years remaining on the base term of the lease with three, five-year options. There are eight percent rent increases throughout the initial term and option periods. This rate schedule provides a new investor with a blended average unleveraged return of 6.48 percent on the base term of the lease. The tenant operates under a triple-net lease with increases every five years and absolutely no landlord responsibilities. The property is offered free and clear of debt in a tax free state.

In close proximity is Lee Memorial Hospital, the flagship hospital for Lee Health and a Level II Trauma Center, serving Lee County and the surrounding areas. Lee Memorial Hospital has over 415 beds, over 1000 physicians, over 1400 employees and over 500 volunteers. Lee Memorial Hospital is known for being the top 10 most active joint replacement centers in the United States.

For More Information, Please Contact:

Jim Shiebler

Associate
(239) 789-4821
Jim.Shiebler@MarcusMillichap.com