4100 Evans Ave, Fort Myers, FL 33901

This exceptional investment opportunity presents a stabilized, multi-tenant office complex in Fort Myers, Florida. The property, situated on 1.23 acres, comprises two single-story buildings totaling 13,788 gross square feet (11,241 rentable square feet). Constructed in 1984 and extensively renovated in 2022, the buildings feature concrete block construction with a pitch shingle roof (reroofed in 2017). The property boasts 52 units averaging 215 square feet, currently housing 47 tenants with a 100% occupancy rate (March 2024). Individual electric meters are tenant-paid, except for five owner-paid units. The owner provides internet service and covers water and sewer costs for all units. The property benefits from a gross lease structure, liberal CI Commercial Intensive zoning allowing for diverse commercial uses, and ample surface parking (54 spaces). Key features include a large monument sign, convenient access to major transportation routes (including bus lines and I-75), and proximity to downtown Fort Myers and RSW International Airport (15 miles). The property's strong financial performance is highlighted by a current NOI of $244,279 and an 8.14% cap rate. Two leases are up for renewal in 2024, but the historically high occupancy and substantial waiting list indicate continued strong performance. The property is professionally managed and exhibits minimal deferred maintenance. Priced at $3,000,000, this offering presents a compelling value proposition below replacement cost. The property is ideally suited for a 1031 exchange.