3141 Pine Island RdCape Coral, FL 33909

Property Details for 3141 Pine Island Rd

Lot size

0.83 AC

Zone code

CPD

Property type

Commercial land

APN

34-43-24-03-000R0.0000

APU

34432403000R00000

Description

This exceptional investment opportunity presents a fee-simple, 2,500 square foot Starbucks located at 3141 NE Pine Island Rd, Cape Coral, FL 33909. Built in 2023, this property boasts a prime location on a hard corner intersection averaging 89,000 vehicles per day, offering exceptional visibility and accessibility. The property is an outparcel to the successful Merchant Crossing shopping center (194,000 SF), anchored by Planet Fitness, Home Depot, and AMC Theatres, ensuring high traffic and a strong consumer base. The 0.83-acre lot is part of a dense retail corridor with numerous national retailers nearby, including Target, Walmart, Lowe's, and CVS. The Starbucks lease is a net lease with a credit-rated tenant, offering a 10-year term commencing August 1, 2023, and including six 5-year renewal options. The current lease provides a 5.50% cap rate with a $195,000 NOI. Rent increases of 5% every 5 years are built into the lease. The property benefits from a strong local demographic profile, with over 139,000 residents and 51,400 employees within a 5-mile radius, and an average household income of $83,070. Fort Myers's robust annual population growth of 3.45% further enhances the long-term investment potential. This is a rare opportunity to acquire a high-performing, nationally branded asset in a rapidly growing market with no state income tax. The APN is 34-43-24-03-000R0.0000. The property's strong performance metrics and favorable lease terms make it an attractive investment for discerning buyers.

• Alternative Use

  Use

  Valuation

  Residential

  $10,937,637

  Hospitality

  $10,018,817

  Educational

  $8,335,538

  Medical

  $8,622,210

  Retail

  $12,966,393

Location Insight

City

Cape Coral

County

Lee

State

Florida

Latitude

26.6827

Longitude

-81.9031

CBSA code

15980

CBSA name

CAPE CORAL-FORT MYERS, FL METROPOLITAN STATISTICAL AREA

Property Tax & Assessments

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