3745 BROADWAY PLAZA

Office for Sale
Catylist Listing ID: 30210077
Property Subtypes: Office Building
Building Size (RSF): 34,811 SF
Gross Building Area: 36,682 SF
Gross Land Area: 2.97 SF
Sale Price: $4,200,000
Unit Price: $120.65 PSF
Property Use Type: Investment
Class of Space: Class B
Sale Terms: Cash to Seller
Cap Rate: 7.3%
Average Occupancy Rate: 60
Last Updated: 11/12/2018

Overview / Comments

Property has a fully executed, multi-year lease in place with the State of Florida and the first floor is currently leased out. . With the State of Florida lease and with only 60% occupancy the building can be purchased at 7.3% cap rate. When the third floor is leased, the investor return should be in excess of a 9.1% yield. The building and parking lot have recent extensive renovations.

Building offers excellent parking and can accommodate usages such as call centers, etc.

Additional Details

Nearest MSA: Cape Coral-Fort Myers
County: Lee
Tax ID/APN: 364424P1000130020
Property Located Between: Behind the Edison Mall
Property Visibility: Excellent
Airports: RSW
Total Number of Buildings: 1
Number of Stories: 3
Typical SF / Floor: 14,365 SF
Year Built: 1986
Year Renovated: 2017
Roof Type: Flat
Construction/Siding: Stucco
Parking Type: Surface
Parking Description: Building has excellent parking allowing uses such as call centers, etc.
Total Parking Spaces: 158
Passenger Elevators: 2
Sprinklers: Wet
Air Conditioning: Engineered System
Internet Access: Other
Zoning Description: CG
Water Service: Municipal
Sewer Type: Municipal
Land Ownership: Fee Simple
Legal Description: Strap #: 36-44-24-P1-00013.0020

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Demographic Statistics

Proximity: 1 mile 3 miles 5 miles
Total Population: 11,899 66,162 149,902
Median Age: 37.13 40.29 43.21
Households: 5,191 27,974 64,222

Contact

Photograph of Listing Agent

Gary Crouse

RE/MAX Realty Group
The information presented herein is provided as is, without warranty of any kind. Neither Southwest Florida Commercial Alliance nor Catylist Real Estate Software, Inc. assume any liability for errors or omissions.