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2565 Cleveland Ave, Fort My...

IRA Capital Acquires Medical Office In Fort Myers For $7M From Seller 8250 Realty LLC
SOLDOffice

IRA Capital Acquires Medical Office In Fort Myers For $7M From Seller 8250 Realty LLC

2565 Cleveland Ave, Fort Myers, FL 33901, USA

$7,000,000

$77/SF

Building Size

90,000 SF

Asset Type

Office

Closing

Jul 29, 2020

AI

A medical office property located at 2565 Cleveland Avenue in Fort Myers has been sold in a closed transaction. The property spans 9,000 square feet and was purchased for $7,000,000, resulting in a price per square foot of $778. The seller of the property was 8250 Realty LLC, while the buyer was IRA Capital. The transaction was facilitated by brokers John Krzyminski and Max Krzyminski from JLL.

Summary of transaction details

  • Property Type: Medical Office
  • Transaction Amount: $7,000,000
  • Square Footage: 9,000
  • Price per Square Foot: $778
  • Seller: 8250 Realty LLC
  • Buyer: IRA Capital
  • Brokers: John Krzyminski & Max KrzyminskiJLL

The sale of this medical office property at 2565 Cleveland Avenue in Fort Myers was a significant transaction. The involvement of brokers John Krzyminski and Max Krzyminski from JLL demonstrates their role in representing both the buyer and seller throughout the deal. This transaction highlights the demand for medical office properties in the Fort Myers market.

Players

John Krzyminski

Green Towers Realty

Broker

$155.7M

vol

12 deals

Broker
IRA Capital
IRA CapitalBuyer

Fort Myers Office Market Snapshot

Boundary boundary · Office · Sale transactions

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Purchase Price

Annual NOI

Loan Amount

Interest Rate (%)

Loan Term (yrs)

Down Payment (%)

Cap Rate

2.27%

Cash-on-Cash

-0.65%

Monthly Payment

$14,164

Annual Debt Svc

$169,964

Annual Cash Flow

$-11,334

DSCR

0.93