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
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