Evan Berlin Revocable Trust Acquires Office Property In Fort Myers For $10.3M
5220 Summerlin Commons Boulevard, Fort Myers, Florida 33907, United States
$10,250,000
$190/SF
Building Size
53,893 SF
Asset Type
Office
Closing
Jul 6, 2022
About this deal
AI
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.
On the Map
$10,250,000
$190/SF
Office
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Players
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
1.55%
Cash-on-Cash
-0.44%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93