Updated Oct 21, 2026
James Schloemer Of Continental Properties Purchases 21-Acre Development Site In San Antonio For $7.7M
$7,700,000
Units
330
Asset Type
Development Site
Closing
Sep 30, 2026
About this deal
AI
A 21-acre development site located along State Road 52 and McKendree Road in San Antonio, FL, has been sold for $7,700,000. The transaction involves plans for the development of Springs at Abbey Crossings, which will consist of 330 apartment units within a larger 245-acre master-planned development.
Summary of transaction details:
- Property Type: Development Site
- Transaction Amount: $7,700,000
- Buyer: James Schloemer - Continental Properties
- Seller: Eshenbaugh Land Company
- Acres: 21.0
James Schloemer represents Continental Properties in this transaction, while Eshenbaugh Land Company executed the sale of the parcel in Pasco County. The development is a part of a broader initiative to enhance the Abbey Crossings area.
Players
Market Development Site Market Snapshot
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Purchase Price
Annual NOI
Loan Amount
Interest Rate (%)
Loan Term (yrs)
Down Payment (%)
Cap Rate
2.06%
Cash-on-Cash
-0.59%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93