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Pinebrook Park 6 Retail Properties Offered at $26,500,000 in Fort Myers, FL
Investment Highlights
- Value-Add Opportunity: In-place rents average just $14.96 PSF, well below market rates, offering significant mark-to-market upside.
- Strategic Vacancy: 88.5% occupancy with select office suites held vacant to support a comprehensive renovation strategy.
- NNN Lease Structure: 76% of GLA leased on a NNN basis, minimizing landlord responsibilities and enhancing net cash flow.
- Short Lease Terms: 38% of GLA has no renewal options and WALT is just 2.4 years, enabling rapid rental growth and repositioning.
- Renovation Upside: Renovations underway targeting office rents of $50+ PSF, driving meaningful NOI growth.
- Redevelopment Potential: Large ±130,718 SF center on ±8.72 acres offers substantial leasing flexibility and long-term redevelopment options.
Executive Summary
Broker of Record
Kyle Matthews
License # BK3554632, CQ1066435 (FL)
Matthews Real Estate Investment Services, Inc
1600 West End Ave, Ste. 1500 Nashville, TN 37203
(866) 889-0550
Kyle Matthews
License # BK3554632, CQ1066435 (FL)
Matthews Real Estate Investment Services, Inc
1600 West End Ave, Ste. 1500 Nashville, TN 37203
(866) 889-0550
Property Facts
| Price | $26,500,000 | Number of Properties | 6 |
| Price / SF | $183.41 / SF | Individually For Sale | 0 |
| Sale Type | Investment | Total Building Size | 144,487 SF |
| Status | Active | Total Land Area | 22.91 AC |
| Price | $26,500,000 |
| Price / SF | $183.41 / SF |
| Sale Type | Investment |
| Status | Active |
| Number of Properties | 6 |
| Individually For Sale | 0 |
| Total Building Size | 144,487 SF |
| Total Land Area | 22.91 AC |
Properties
| Property Name / Address | Property Type | Size | Year Built | Individual Price |
|---|---|---|---|---|
| 12995 S Cleveland Ave, Fort Myers, FL 33907 | Retail | 43,496 SF | 1980 | - |
| 12995 S Cleveland Ave, Fort Myers, FL 33907 | Retail | 43,000 SF | 1980 | - |
|
PBS 1-60
12995 S Cleveland Ave, Fort Myers, FL 33907 |
Retail | 31,982 SF | 1980 | - |
|
Pinebrook Park Bldg 3
12995 S Cleveland Ave, Fort Myers, FL 33907 |
Retail | 13,365 SF | 1980 | - |
| 12995 S Cleveland Ave, Fort Myers, FL 33907 | Retail | 7,144 SF | 1980 | - |
|
Outback
12995 S Cleveland Ave, Fort Myers, FL 33907 |
Retail | 5,500 SF | 1980 | - |
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