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3604 Seminole Ave

Francisco Rodriguez Melo, Stefano Garofoli & Costantino Cicchelli Acquire Multifamily Property In Fort Myers For $4.25M
SOLD

Francisco Rodriguez Melo, Stefano Garofoli & Costantino Cicchelli Acquire Multifamily Property In Fort Myers For $4.25M

3604 Seminole Ave

$4,250,000

Building Size

Asset Type

Closing

Jul 20, 2022

AI

The multifamily property located at 3604 Seminole Ave in Fort Myers has been sold in a closed transaction. The property consists of 68 units with a total square footage of 54,334. The sale price for this transaction was $4,250,000, resulting in a price per unit (PPU) of $62,500 and a price per square foot (PPSF) of $78.

Summary of transation details

  • Property Type: Multifamily
  • Transaction Amount: $4,250,000
  • Units: 68
  • Price per Unit: $62,500
  • Total Square Footage: 54,334
  • Price per Square Foot: $78
  • Address: 3604 Seminole Ave, Fort Myers

The buyer of this property includes Francisco Rodriguez Melo, Stefano Garofoli, and Costantino Cicchelli from Brickone. The seller is Adan Rounds from Cypress Courts Ltd. The sale was facilitated by Gema Ruiz and Francisco Rodriguez Melo from Cedano Realty Advisors.

Players

B
BrickoneBuyer

Stefano Garofoli

Brickone

Buyer

$34M

vol

9 deals

Buyer

Adan Rounds

Cypress Courts Ltd.

Seller

$8.5M

vol

2 deals

Seller

Fort Myers CRE Market Snapshot

Boundary boundary · CRE · Sale transactions

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Purchase Price

Annual NOI

Loan Amount

Interest Rate (%)

Loan Term (yrs)

Down Payment (%)

Cap Rate

3.73%

Cash-on-Cash

-1.07%

Monthly Payment

$14,164

Annual Debt Svc

$169,964

Annual Cash Flow

$-11,334

DSCR

0.93