The 1031 Exchange can allow an investor to use 100% of his or her current property equity to purchase substantially more replacement property. The Section 1031 “like-kind” exchange should be considered by all Commercial Property Investors who are planning to reinvest the proceeds from a sale of investment property into another similar type of investment property.
This is an example of a Retail Property which is Off-Market and could be CONSIDERED for a 1031 exchange.
We can assist you with your search for 1031 Exchange Commercial Properties.
O’Reilly Commercial Realty LLC
Phone: (352) 237-2222
Trophy Asset Commercial Properties – Chipotle and Starbucks
|Building Size||4,327 SF||Occupancy||100%|
|Price per SF||$1,097.76||No. Stories||1|
|Property Sub-type||Retail Pad||Year Built||2014|
|Property Use Type||Net Lease Investment with 8 years left on lease||Lot Size||1.08 AC|
Description of Florida Commercial Property
Trinity Commercial Group Inc. is pleased to offer for sale to qualified investors a Chipotle and Starbucks building located in Fort Myers, Florida.
Both Chipotle and Starbucks are operating under 10 year base term leases with Starbucks having a one time right to terminate at year 5 (penalty to terminate is a fee equal to 1.5 years of base rent). Each tenant has increases to their rent throughout their base term and option periods.
The asset is located in front of Costco at the entrance to the busiest thoroughfare to Gulf Coast Town Center off of Alico Rd. Gulf Coast Town Center has seen an explosion of development over the last 3 years with new tenants such as: Panera Bread, Chili’s, BJ’s Brewhouse, Arby’s, Jason’s Deli, Twin Peaks, Zaxby’s, Taco Bell and more.
Additionally, no further out parcel development along Alico Rd. is available and development along Ben Hill Griffin is extremely limited. This coupled with Starbucks and Chipotle’s success at their location makes a relocation extremely unlikely.
*NOI based on rent as of 3/1/16.
This irreplaceable location is situated as an out parcel to Gulf Coast Town Center, a 1.3M square foot retail power center located at the intersection of Interstate 75 and Alico Rd.
Fort Myers Commercial Property Highlights
- Top Performing Locations For Both Starbucks and Chipotle
- Out Parcel To a 1.3M Square Foot Retail Power Center – Gulf Coast Town Center
- Positioned In Front of Costco At The Busiest Entrance To The Center
- No Remaining Out Parcel’s Available For Development Along Alico Rd. and Limited Availability Along Ben Hill Griffin
- New Development Includes: Panera Bread, Chili’s, BJ’s Brewhouse, Taco Bell, Arby’s, Zaxby’s, Jason’s Deli, Twin Peaks And More
- Corporately Guaranteed
Financial Summary of Net Lease Investment (Actual)
|Year||2016||Net Operating Income||$190,550|
Major Tenant Net Lease Information
|Tenant||SF Occupied||Lease End Date|
10010 University Plaza Drive, Fort Myers, FL 33913 (Lee County)
Listing information courtesy of Trinity Commercial Group. All listing information is deemed reliable but not guaranteed and should be independently verified through personal inspection by appropriate professionals. Listings displayed on this website may be subject to prior sale or removal from sale. Availability of any listing should always be independently verified. Listing information is provided for consumer personal, solely to identify potential properties for potential purchase.