Grocery-Anchor Retail Ground
For Sale
Contact for pricing
5660 Bayshore Rd, North Fort Myers, FL 33917
Long-term grocery ground lease with a corporate guaranty, with a Winn-Dixie conversion to ALDI underway.
Property Size46,320 SF
Price / SF$208.81
Days on Market533
Property Features for 5660 Bayshore Rd
General Information
Standard status
Active
Size
46,320 SF
Property subtype
RETAIL
Building Details
Tenancy
Single
Listing Agency:
Marcus & Millichap | Phoenix
(602) 370-9255
Listed By:
Chris Lind · License #SA550593000
(602) 370-9255
Source:
Moodyscre
Added: Feb 12, 2025
Changed: Jul 29
Last Checked: Jul 29 at 3:48PM
Displayed information is deemed reliable but is not guaranteed and should be independently verified. All listing content including descriptions, pricing, images are the copyrighted material of Marcus & Millichap | Phoenix
Investment Insights
Based on property information with market context.
This offering is a grocery-anchor retail ground lease with 15.5 years remaining on the lease term and a corporate guaranty. The current longstanding Winn-Dixie grocery store is being converted to an ALDI following ALDI’s acquisition of Winn-Dixie’s parent company in 2024.
The property is accessible to more than 43,000 cars per day along Bayshore Road. The trade area supports a large existing population and projected household growth within the immediate area.
ALDI operates more than 2,400 stores across 40 states, and it plans to open 800 new stores nationwide over the next three years through a mix of new openings and conversions.
The property is accessible to more than 43,000 cars per day along Bayshore Road. The trade area supports a large existing population and projected household growth within the immediate area.
ALDI operates more than 2,400 stores across 40 states, and it plans to open 800 new stores nationwide over the next three years through a mix of new openings and conversions.
Key Highlights
- Long‑term grocery ground lease with 15.5 years remaining on the lease term and a corporate guaranty
- Winn‑Dixie grocery store conversion to ALDI is underway following ALDI’s acquisition of Winn‑Dixie’s parent company in 2024
- Property is accessible to more than 43,000 cars per day along Bayshore Road
Financial Insights For Specialty Retail
Simulate Cap Rate and NOI
NOI Build-Up
- Vacancy
- income lost from leasable area expected to sit empty during the year — subtracted from gross rent.
- EGI (Effective Gross Income)
- gross rent minus vacancy losses — the realistic income before paying operating costs.
- OpEx (Operating Expenses)
- recurring costs to operate the property (property tax, insurance, utilities, maintenance, management) — excludes financing and capital improvements.
- NOI (Net Operating Income)
- income a property generates after operating costs but before financing and taxes.
| Component | $ | $/SF |
|---|---|---|
| Gross rent | $1.00M | $21.60 |
| − Vacancy | −$20.0k | −$0.43 |
| EGI | $980.5k | $21.17 |
| − OpEx | −$245.1k | −$5.29 |
| NOI | $735.4k | $15.88 |
46,320 SF · lease $21.60/SF/yr · vacancy 2.00% · expense 25.00%
Alternative Uses
Best Use
Specialty Retail
$10.51M
$9.19M – $12.26M
NOI $735,376 @ 7.0% cap · market cap 7.60%
Second Best
Retail
$8.68M
$7.60M – $10.13M
NOI $607,639 @ 7.0% cap · market cap 6.28%
Theoretical Best
Office A
$14.58M
$12.76M – $17.01M
NOI $1,020,522 @ 7.0% cap · market cap 10.55%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Current Use
Lease Details
Single-tenant
Tenancy
Location Intelligence
Trade Area within ½ mile
216
Businesses Nearby
60k
Monthly Visits Nearby
Under-served
Demand for This Use
Explore this area
Business Placement
Foot Traffic Nearby
Groceries 40%
Shops & Services 28%
Home Improvements & Furnishings 23%
Electronics 5%
Winn-Dixie
Groceries
24,088 visits/mo
0.1 miles
Tractor Supply Co.
Home Improvements & Furnishings
13,573 visits/mo
0.3 miles
7-Eleven
Shops & Services
11,242 visits/mo
0.1 miles
Family Dollar
Shops & Services
4,510 visits/mo
0.1 miles
Metro by T-Mobile
Electronics
2,783 visits/mo
0.1 miles
Demographics for 33917, FL
30,702
Population
18,789
Households
1.6
Avg Household Size
61
Median Age
19%
College-Educated
89%
High-School Grad
65.5 sq mi
ZIP Area
469
Density / Sq Mi
$54,198
Median Household Income
$35,670
Median Earnings
$1,320
Median Rent
$170,100
Median Home Value
Market
Vacancy Rate% for Retail in South region
Questions? Ask Rey
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Frequently Asked Questions
What type of property is this?
Grocery and convenience store - Long-term grocery ground lease with a corporate guaranty, with a Winn-Dixie conversion to ALDI underway.
Where is this grocery and convenience store located?
The property is located at 5660 Bayshore Rd North Fort Myers, FL.
What is the asking price?
The asking price for this property is $9,672,000.
What are key features of this property?
This property features: Long‑term grocery ground lease with 15.5 years remaining on the lease term and a corporate guaranty; Winn‑Dixie grocery store conversion to ALDI is underway following ALDI’s acquisition of Winn‑Dixie’s parent company in 2024; Property is accessible to more than 43,000 cars per day along Bayshore Road
