Updated Oct 13, 2026
Elevate Partners Acquires 70 Acre Development Site In Fort Myers For $21.9M
1100 Colonial Boulevard, Fort Myers, Florida 33966, United States
$21,970,097
Building Size
—
Asset Type
Development Site
Closing
Feb 24, 2022
About this deal
AI
The sale of a development site in Fort Myers has recently taken place at 1100 Colonial Boulevard. The property, spanning 70 acres, was sold for a total of $21,970,097. The transaction was finalized on 02/25/2022.
Summary of transaction details
- Property Type: Development Site
- Transaction Amount: $21,970,097
- Address: 1100 Colonial Boulevard
- Market: Fort Myers
- Buyer: Elevate Partners, LLC
- Seller: Summit Properties SW, LLC
- Buyer's Representative: Bill McGee III - Berger Commercial Realty/Corfac International
- Seller's Representative: Brandon Delanois - JLL
Bill McGee III, representing the buyer Elevate Partners, LLC, played a key role in facilitating the sale. On the other side, Brandon Delanois, representing Summit Properties SW, LLC, acted as the seller's representative in the transaction.
On the Map
$21,970,097
Development Site
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Players
Fort Myers Development Site Market Snapshot
Boundary boundary · Development Site · Sale transactions
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Purchase Price
Annual NOI
Loan Amount
Interest Rate (%)
Loan Term (yrs)
Down Payment (%)
Cap Rate
0.72%
Cash-on-Cash
-0.21%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93