2529 Simpson St Fort Myers, FL 33901

This exceptional investment opportunity presents a free-standing restaurant building located at 2529 Simpson St, Fort Myers, FL 33901. The property, situated on a 7,841 square foot lot, boasts 1,600 square feet of space and offers ten parking spaces. Built in 1966 and renovated in 2019, the single-story building is zoned CG and benefits from a strong location on the busy Fowler corridor. The property is currently under a new five-year net lease, generating a Net Operating Income (NOI) of $18,000, with a projected 3% annual increase. This translates to a compelling pro-forma cap rate of 5.62%. The asking price is $320,000, resulting in a price per square foot of $200. The high demand for second-generation restaurant spaces in this area, coupled with the surrounding concentration of retail, professional, and medical offices, and industrial businesses, ensures a robust daytime population and strong future potential. The property's occupancy date is August 1st, 2024. This is a turnkey investment opportunity with a proven track record of rapid lease-up, making it an attractive addition to any portfolio.