Neal Communities Acquires 345-Acre Land In Alva, Lee County For $5.5M
12850 North River Road, Alva, Fl 33920
$5,500,000
Building Size
—
Asset Type
Land
Closing
Jun 11, 2023
About this deal
AI
Neal Communities, a Lakewood Ranch homebuilder, has purchased a 345-acre waterfront property in Alva, Lee County for $5.5 million. The land is approved for 380 residential units and is situated near Fort Myers and Interstate 75.
Summary of transaction details
- Property Type: Land
- Transaction Amount: $5,500,000
- Address: 12850 North River Road, 17900 & 18420 Owl Creek Drive
- Market: Alva
- Asset Type: Land
- Acres: 345
Pat Neal from Neal Communities represented the buyer in this deal.
The land sale at 12850 North River Road, Alva, Fl 33920 in Miami, Florida sold for $5.5M in 2023. 12850 North River Road, Alva, Fl 33920 is classified as Land on Traded. This page is the Miami, Florida file for the 12850 North River Road, Alva, Fl 33920 land sold: pricing, party profiles, and other closed land comps from the same Miami sit in the Market section below. Filter that Miami land set by closing date to see what else sold near 12850 North River Road, Alva, Fl 33920 around 2023. Published consideration for 12850 North River Road, Alva, Fl 33920 is $5.5M, dated 2023. Cite this Neal Communities Acquires 345-Acre Land In Alva, Lee County For $5.5M sale when underwriting similar land product around Miami, Florida.
Players
Miami Land Market Snapshot
Boundary boundary · Land · Sale transactions
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Deal FAQ
Purchase Price
Annual NOI
Loan Amount
Interest Rate (%)
Loan Term (yrs)
Down Payment (%)
Cap Rate
2.88%
Cash-on-Cash
-0.82%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93