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Heartland Dental 1701 Boy Scout Dr 3,961 SF Office Building Fort Myers, FL 33907 $3,384,000 ($854.33/SF) 5.15% Cap Rate
INVESTMENT HIGHLIGHTS
- Brand-new 12-year absolute NNN lease with a 10% rental increase in years 6 & 11 and at the start of each extension option
- Newly renovated with significant monies invested into the interior, equipment, new roof, parking lot, etc.
- Large 1.18 acre lot at signalized intersection
- Lease signed by tenant’s corporate entity – Heartland Dental, LLC
- Hard corner signalized intersection with 54K vehicles per day in very dense high-income area
- Densely populated metro – 163,783 residents within a 5-mile radius of the subject property
EXECUTIVE SUMMARY
A rare absolute NNN Heartland Dental with a 12-year base term lease featuring a 10% rental increase in Year 6, Year 11, and at the start of each of the four, 5-year options. The subject property features significant frontage at the signalized intersection of Summerlin Road and Boy Scout Drive (54,887 VPD) and is just down the street from Page Field Commons – a 350,000 SF shopping center with major national tenants including Sam’s Club, Trader Joe’s, Best Buy, Dick’s Sporting Goods, Marshalls, and Old Navy.
PROPERTY FACTS
Sale Type
Investment
Property Type
Office
Property Subtype
Medical
Building Size
3,961 SF
Building Class
C
Year Built/Renovated
1999/2023
Price
$3,384,000
Price Per SF
$854.33
Cap Rate
5.15%
NOI
$174,284
Tenancy
Single
Building Height
1 Story
Typical Floor Size
3,961 SF
Building FAR
0.08
Lot Size
1.18 AC
Zoning
CI - Commercial Intensive
Bike Score®
Very Bikeable (74)
PROPERTY TAXES
| Parcel Number | 11-45-24-P2-02800.0030 | Improvements Assessment | $287,200 |
| Land Assessment | $771,015 | Total Assessment | $1,082,068 |
PROPERTY TAXES
Parcel Number
11-45-24-P2-02800.0030
Land Assessment
$771,015
Improvements Assessment
$287,200
Total Assessment
$1,082,068
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Heartland Dental | 1701 Boy Scout Dr
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