Philip Miller Acquires Flats At Courtington Multifamily In Fort Myers From John Metzler For $1.325M
922 Courtington Lane
$1,325,000
$172/SF
Building Size
7,680 SF
Asset Type
MultiFamily
Closing
Dec 16, 2025
AI
The property involved in the transaction is a multifamily asset consisting of 20 units, located at 922 Courtington Lane, Fort Myers, Florida. It encompasses a total square footage of 7,680 and was sold for $1,325,000, resulting in a price per unit of $66,250 and a price per square foot of $172.
Summary of transaction details:
- Property Type: Multifamily
- Transaction Amount: $1,325,000
- Units: 20
- Square Feet: 7,680
- Price Per Unit: $66,250
- Price Per Square Foot: $172
- Buyer: Philip Miller
- Seller: John Metzler
- Brokers: Daniel J. Cunningham, River Rhoads, Dillon Majeski, Cory Sanchez & Evan Richardson - Marcus & Millichap
- Date of Sale: 12/17/2025
- Market: Fort Myers
The Cunningham-Richardson Group of Marcus & Millichap successfully facilitated the closing of Flats at Courtington, which produced significant market interest and went under contract in just 25 days, attracting five competing offers. The buyer, an all-cash investor from South Florida, received a favorable negotiation on pricing and terms, ensuring a smooth transactional process and maximizing value for both the buyer and seller.
Players
Fort Myers MultiFamily Market Snapshot
Boundary boundary · MultiFamily · Sale transactions
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Purchase Price
Annual NOI
Loan Amount
Interest Rate (%)
Loan Term (yrs)
Down Payment (%)
Cap Rate
11.97%
Cash-on-Cash
-3.42%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93