20251 Summerlin RdFort Myers, FL 33908

Property Details for 20251 Summerlin Rd

Year built

2004

Construction

MASONRY/CONCRETE MASONRY UNITS (CMUS)

Lot size

0.98 AC

Property size (Sq ft)

5,564 SF

Zone code

CPD

Property type

Retail properties

Property subtype

Banks

APN

11-46-23-02-00000.0020

APU

11462302000000020

Description

This exceptional 3,721 square foot former bank branch, located at 20251 Summerlin Rd, Fort Myers, FL 33908, presents a unique investment opportunity. The single-story, 2004-built building sits on a 0.98-acre lot and boasts 38 parking spaces, providing ample room for customers and staff. Recently renovated, the property features a new metal roof, 17.5 tons of new HVAC, fresh exterior paint, and a new ADT alarm system. A new parking lot and updated irrigation/landscaping are also in place. Constructed of concrete block with impact windows and 3-phase electrical power, the building offers 12-foot interior ceilings and a secure bank vault. Importantly, there are no financial restrictions on the property, a rare advantage for former bank branches. The property is serviced by city water/sewer and natural gas. This vacant building, with an occupancy date of November 1, 2024, offers excellent visibility on Summerlin Rd, just 3 miles from the Sanibel Causeway. Four drive-thrus offer potential for conversion into covered parking or storage. Easy ingress and egress are ensured by the ample parking and overflow access to a nearby Publix center. The property is being offered below replacement cost and a generous build-out allowance is available for a tenant. The building is zoned for commercial use. Consider this prime location for a professional office or retail business seeking Sanibel access without Sanibel real estate prices. The property is available for sale or lease as an NNN (Net Lease) investment.

• CAP approach

  CAP return

  Valuation

  6%

  $2,169,584

  6.5%

  $2,002,693

  7%

  $1,859,643

• Comparable approach

  Method

  Valuation

  Relative Method

  $2,812,803

  Geo Method

  $2,560,706

• Alternative Use

  Use

  Valuation

  Residential

  $1,689,346

  Hospitality

  $1,547,432

  Educational

  $1,287,446

  Medical

  $1,331,723

  Retail

  $2,002,693

Location Insight

City

Fort Myers

County

Lee

State

Florida

Latitude

26.493

Longitude

-81.9734

CBSA code

15980

CBSA name

CAPE CORAL-FORT MYERS, FL METROPOLITAN STATISTICAL AREA

Property Tax & Assessments

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