16371 Corporate Commerce WayFort Myers, FL 33913

Property Details for 16371 Corporate Commerce Way

Lot size

1.93 AC

Zone code

MPD

Property type

Land

Property subtype

Commercial land

APN

02-46-25-04-0000G.0000

APU

024625040000G0000

Description

This exceptional Class A retail property, "BackYard Social," is a newly constructed (2023) bar and restaurant located in Fort Myers, Florida, at 16371 Corporate Commerce Way, Lee County, zip code 33913. The 8,500 square foot building sits on a 1.93-acre lot and offers a 10-year absolute NNN sale-leaseback with a 7.00% cap rate and a strong NOI of $600,000. Rent increases by 10% every five years, ensuring consistent income growth. The property boasts a 100% occupancy rate and features a unique "retail-tainment" concept, combining food trucks, drinks, and social entertainment. Its prime location near I-75 and Alico Road, coupled with its proximity to Florida Gulf Coast University (two miles south), guarantees high foot traffic and diverse revenue streams. The property's EBITDAR/RENT multiple of 5.64X demonstrates exceptional financial performance and operational efficiency. The tenant is responsible for all property taxes, insurance, and maintenance, providing a truly passive investment opportunity. This fee-simple ownership offers a high-yielding investment in a rapidly growing market, with significant potential for long-term appreciation. The APN is 02-46-25-04-0000G.0000.

• Alternative Use

  Use

  Valuation

  Residential

  $25,485,934

  Hospitality

  $23,344,978

  Educational

  $19,422,748

  Medical

  $20,090,726

  Retail

  $30,213,164

Location Insight

City

Fort Myers

County

Lee

State

Florida

Latitude

26.4969

Longitude

-81.7844

CBSA code

15980

CBSA name

CAPE CORAL-FORT MYERS, FL METROPOLITAN STATISTICAL AREA

Property Tax & Assessments

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