2354 Surfside BlvdCape Coral, FL 33991

Property Details for 2354 Surfside Blvd

Year built

2007

Lot size

8.26 AC

Property size (Sq ft)

117,566 SF

Property type

Retail properties

Property subtype

Lifestyle centers

Description

This exceptional 117,566 square foot shopping center, located at 2354 Surfside Blvd in Cape Coral, Florida, presents a compelling investment opportunity. Built in 2007, this single-story property sits on an 8.26-acre lot and boasts a strong tenancy mix of five national and regional brands. The center is 100% leased with long-term leases extending through 2027, 2028, and 2029, providing significant rental income stability. The asking price is $13,990,000, translating to $119 per square foot, and offers a compelling 7.54% capitalization rate with a Net Operating Income (NOI) of $1,054,777. Strategically positioned on a signalized intersection at Veterans Pkwy and Surfside Blvd, this property benefits from its location in the high-growth Cape Coral market, recently ranked third on Forbes' 2023 list of Best Places to Live in Florida. The property features built-in rent bumps, offering further upside potential. This stabilized investment provides a protected owner basis with asking price below $140/sf and average rents below $10/sf, making it an attractive opportunity for discerning investors seeking a strong return in a thriving market. The property's prime location and stable tenancy make it an ideal addition to any portfolio.

Location Insight

City

Cape Coral

County

Lee

State

Florida

Latitude

26.6092

Longitude

-82.0253

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