2717 Santa Barbara Boulevard | Cape Coral, FL 33914
First Vice President Investments
First Vice President InvestmentsJames.Garner@MarcusMillichap.com
Senior Vice President Investments
True Value-Add Shopping Center with 25% Vacancy and Below Market Rents
7.77% Cap Rate on Current in Place Income
9.60% Pro Forma Cap Rate
200,000+ Residents Reside Within a 10 Minute Drive of Property
Adjacent to a Traffic Count of 74,000+ Vehicles per Day
Cape Coral / Ft. Myers Is One of the Fastest Growing Metro Markets in the U.S.
The Towers III provides and investor the opportunity to purchase a truly rare investment property that is incredibly located adjacent to Main and Main. This location is the absolute center of the burgeoning market of Cape Coral as this city is ranked as the #1 fastest growing small city in the entire U.S. In fact, the current population is forecasted to double within the next 20 years. Additionally, Cape Coral’s retail zoning is less than 5% of all land mass. Simply put, there is not enough dedicated space to keep up with the population explosion. The Towers III residual value of the core real estate is destined to continue to appreciate throughout the coming decades. Additionally, the center possesses 25% vacancy providing true upside for the ultimate purchaser to lease up the vacant spaces to yield a 9.60% pro forma cap rate. And finally, the center is perfectly situated next to the brand new Aldi grocery store assemblage which provides a built in customer base of several thousand patrons and shoppers per day as two hundred thousand residents reside within a 10 minute drive of this central location.