17804 Ben Hill Griffin PkwyFort Myers, FL 33913

Property Details for 17804 Ben Hill Griffin Pkwy

Year built

2013

Construction

MASONRY/CONCRETE MASONRY UNITS (CMUS)

Lot size

1.48 AC

Property size (Sq ft)

3,438 SF

Zone code

MPD

Property type

Drive through restaurants

APN

11-46-25-11-00000.00E0

APU

114625110000000E0

Description

This exceptional investment opportunity presents a fee-simple, single-tenant, 3,438 square foot Pollo Tropical quick-service restaurant located at 17804 Ben Hill Griffin Pkwy, Fort Myers, FL 33913. The property sits on a 1.48-acre outparcel of the prominent Gulf Coast Town Center shopping mall, benefiting from high consumer spending and strong demographics. The building, constructed in 2013, is classified as Class B and features 69 parking spaces. The property boasts a 20-year absolute NNN lease with a corporate guarantee from Pollo Tropical, providing significant security and stability. With 8.9 years remaining on the lease (expiring October 17, 2033), the lease includes 4 or 5-year renewal options and 1% annual rent bumps. The current annual net operating income (NOI) is $162,313, resulting in a 5.25% cap rate and a price per square foot of $898.78. The asking price is $3,090,000. The property is zoned MPD and offers a compelling investment opportunity in a thriving retail environment with significant consumer spending within a 2-mile ($194 million), 5-mile ($1.1 billion), and 10-mile ($4.2 billion) radius. The property's location within the Gulf Coast Town Center, alongside major retailers like Target, Costco, and Best Buy, ensures high visibility and consistent customer traffic. This is a 100% occupied, stabilized investment with a proven track record.

• CAP approach

  CAP return

  Valuation

  6%

  $1,340,588

  6.5%

  $1,237,466

  7%

  $1,149,075

• Comparable approach

  Method

  Valuation

  Relative Method

  $1,738,033

  Geo Method

  $3,022,620

• Alternative Use

  Use

  Valuation

  Residential

  $1,043,848

  Hospitality

  $956,160

  Educational

  $795,514

  Medical

  $822,872

  Retail

  $1,237,466

Location Insight

City

Fort Myers

County

Lee

State

Florida

Latitude

26.4846

Longitude

-81.7851

CBSA code

15980

CBSA name

CAPE CORAL-FORT MYERS, FL METROPOLITAN STATISTICAL AREA

Property Tax & Assessments

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