Evan Berlin Revocable Trust Acquires Office Property In Fort Myers For $10.3M
SOLD
$10,250,000
Florida
See Similar DealsOffice53,893 SF
Sold 07/07/2022
SOLD
Evan Berlin Revocable Trust Acquires Office Property In Fort Myers For $10.3M
5220 Summerlin Commons Boulevard, Fort Myers, Florida 33907, United States
See Similar DealsOffice53,893 SF
Sold 07/07/2022
Summary
FLORIDA
Asset Type:Office
Price Per Square Foot:$190
Total Square Footage:53,893 SF
Transaction Type:Sale
The office property located at 5220 Summerlin Commons Blvd in Fort Myers has been sold in a transaction valued at $10,250,000. The property spans 53,893 square feet and was sold at a price of $190 per square foot.
Summary of transaction details:
- Property Type: Office
- Transaction Amount: $10,250,000
- Date: 07/07/2022
- Address: 5220 Summerlin Commons Blvd, Fort Myers
The buyer in this transaction is the Evan Berlin Revocable Trust, while the seller is Mick Vorbeck. The deal was facilitated by brokers Gary Tasman & Shawn Stoneburner from Cushman & Wakefield.
Players
BUYER
Details
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Deal Type
30 years
10 years
Operating Income
Operating Expenses (Annual)
Net Operating Income (NOI)
$546,666.67
Debt Service Coverage Ratio (DSCR)
0.94x
Cap Rate
5.33%
Cash Flow (Annual)-$36,416.08
Cash-on-Cash Return-1.27%
Monthly Debt Service$48,590.23
Annual Debt Service$583,082.75
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