Project Finance & Development Investments Acquires Development Site In Cape Coral For $3M
1429 Northeast 15th Avenue
$3,000,000
$7/SF
Building Size
427,324 SF
Asset Type
Development Site
Closing
May 28, 2025
AI
Project Finance & Development Investments has acquired a development site located at 1429 Northeast 15th Avenue in Cape Coral. The sale price of the property was $3,000,000. The site encompasses 427,324 square feet and consists of 9.81 acres, which translates to approximately $306,824 per acre or $7 per square foot.
Summary of transaction details:
- Property Type: Development Site
- Transaction Amount: $3,000,000
- Sale Price Per Square Foot: $7
- Sale Price Per Acre: $306,824
- Buyer: Project Finance & Development Investments
- Seller: Lee County Dist School Board
- Buyer’s Representative: Thano Mazas - Mazi Realty
- Size: 9.81 acres
- Square Footage: 427,324 SF
- Market: Cape Coral
Thano Mazas of Mazi Realty represented Project Finance & Development Investments in this transaction. The buyer plans to redevelop the acquired site into a charter K–8 school campus, which will accommodate over 800 students, contributing to the educational resources in this rapidly developing area.
Players
Cape Coral 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
5.29%
Cash-on-Cash
-1.51%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93