Woodfield Development & ELV Associates Acquires Development Site In Estero For $32M
SOLD
$32,000,000
Florida
See Similar DealsDevelopment Site
Sold 08/29/2022
SOLD
Woodfield Development & ELV Associates Acquires Development Site In Estero For $32M
23281 Lyden Drive
See Similar DealsDevelopment Site
Sold 08/29/2022
Summary
FLORIDA
Asset Type:Development Site
Transaction Type:Sale
Woodfield Development & ELV Associates, represented by Ross Abramson, has acquired a development site in Estero for a total of $32,000,000. The property, located at 23281 Lyden Drive, spans across 45.6 acres. The sale price translates to approximately $701,754 per acre.
Summary of transaction details
- Property Type: Development Site
- Transaction Amount: $32,000,000
- Address: 23281 Lyden Drive, Estero
- Market: Estero
- Buyer: Ross Abramson - Woodfield Development & ELV Associates
- Seller: Lee Memorial Health System
- Brokers: Gary Tasman & Shawn Stoneburner - Cushman & Wakefield Commercial Property Southwest Florida
- Acres: 45.6
- Price Per Acre: $701,754
The transaction was facilitated by Gary Tasman and Shawn Stoneburner from Cushman & Wakefield Commercial Property Southwest Florida. They represented the buyer and seller in the deal, respectively.
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Deal Type
30 years
10 years
Operating Income
Operating Expenses (Annual)
Net Operating Income (NOI)
$1,706,666.67
Debt Service Coverage Ratio (DSCR)
0.94x
Cap Rate
5.33%
Cash Flow (Annual)-$113,689.24
Cash-on-Cash Return-1.27%
Monthly Debt Service$151,696.33
Annual Debt Service$1,820,355.91
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