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5421 Division Drive

Mitchell Kaplain Purchases Industrial Property From Randal Mercer In Fort Myers For $2.1M
SOLDIndustrial

Mitchell Kaplain Purchases Industrial Property From Randal Mercer In Fort Myers For $2.1M

5421 Division Drive

$2,100,000

$210/SF

Building Size

10,000 SF

Asset Type

Industrial

Closing

Jan 7, 2026

AI

The property involved in the transaction is an industrial asset located at 5421 Division Drive in the Fort Myers market. The sale price for the asset was $2,100,000, with a total square footage of 10,000, translating to a price per square foot of $210.

Summary of transaction details:

  • Property Type: Industrial
  • Transaction Amount: $2,100,000
  • Address: 5421 Division Drive
  • Market: Fort Myers
  • Square Footage: 10,000
  • Price per Square Foot: $210
  • Buyer: Mitchell Kaplain
  • Seller: Randal Mercer
  • Broker Representatives: Kevin Perez, Raul Pino, & Pablo Vignolo - The Hype Real Estate Group

This transaction involved an effective collaboration where The Hype Real Estate Group represented both the seller and buyer to ensure a smooth closing process. The team is engaged in sourcing more industrial and retail opportunities across various states including Florida, Georgia, North Carolina, Virginia, and northeastern states, with physical offices located in Miami and New York.

Players

Raul Pino

The Hype Real Estate Group

Broker

$344.4M

vol

50 deals

Broker

Fort Myers Industrial Market Snapshot

Boundary boundary · Industrial · Sale transactions

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Purchase Price

Annual NOI

Loan Amount

Interest Rate (%)

Loan Term (yrs)

Down Payment (%)

Cap Rate

7.55%

Cash-on-Cash

-2.16%

Monthly Payment

$14,164

Annual Debt Svc

$169,964

Annual Cash Flow

$-11,334

DSCR

0.93