Naples, FL, December 29, 2023 — Just Closed: Mike Rivera, from Saggio Realty’s commercial brokerage division in Naples, FL, has recently completed and closed a sale for a medical office building in Olde Naples for $1.6 million.
The property, located at 49 8th Street N, Naples, Florida 34102, is a single-story, single-tenant, medical building that was previously occupied by Dr. Hickey servicing Downtown / Olde Naples residents for three decades.
The building has an area of approximately 2,012 +/-square feet according to public records and is situated at the roundabout corner of Central and 8th Avenue sitting inside of the 5th ave district CRA and the medical district overlay which is close to NCH hospital. Olde Naples and 5th Ave and submarkets represents very rare Gold Demographic’s high sought after by high-end retail, boutique shops, art, medical and financial advisors, hedge funds and family office firms.
This sale sets a record for one of the highest prices per square foot paid in 34102 Olde Naples for an “as-is sale” medical office. The property was purchased by Cappo Holdings Corporation, a Michigan-based company. The seller was DJJH, LLC.
Prior to closing, the broker in tandem with the buyer’s counsel, secured a triple net lease on the property. Mike Rivera, the listing broker, represented both DJJH LLC and the buyer in this transaction.