Towers III 

2717 Santa Barbara Boulevard | Cape Coral, FL 33914

Contact Brokers

Jim Shiebler
Vice President Investments

Jim.Shiebler@MarcusMillichap.com
(O) 239.340.7811
FL #SL3347780

James Garner
First Vice President Investments​James.Garner@MarcusMillichap.com
(O) 813.387.4796
FL #SL327365

James Medefind
Senior Vice President Investments
James.Medefind@MarcusMillichap.com(C) 850-228-9400
(O) 813-387-4788
FL #SL3216834

Highlights

  • 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.

Description

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.    

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201 North Franklin Street

Suite 1100

Tampa, FL 33602

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