FineMark Bank And Concord Real Estate Investors Acquire Retail Asset In Estero For $12.05M
10020 Coconut Road
$12,050,000
$341/SF
Building Size
35,330 SF
Asset Type
Retail
Closing
Jun 30, 2025
AI
The retail asset located at 10020 Coconut Road in Estero has been sold for $12,050,000. This property encompasses 35,330 square feet, translating to a price per square foot of $341.
Summary of transaction details:
- Property Type: Retail
- Transaction Amount: $12,050,000
- Address: 10020 Coconut Road
- Market: Estero
- Buyer: FineMark Bank & Concord Real Estate Investors
- Seller: Courtelis Co.
- Brokers: Jim Michalak & Jeff Berkezchuk - Plaza Advisors
- Square Footage: 35,330
- Price Per Square Foot: $341
The transaction involved FineMark Bank purchasing a 9,390 square foot outparcel for $4.7 million, while Concord Real Estate Investors acquired the remaining 25,940 square foot strip center for $7.35 million. The brokers representing the seller, Courtelis Co., in this deal were Jim Michalak and Jeff Berkezchuk from Plaza Advisors.
Players
Bonita Springs Retail Market Snapshot
Boundary boundary · Retail · Sale transactions
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Purchase Price
Annual NOI
Loan Amount
Interest Rate (%)
Loan Term (yrs)
Down Payment (%)
Cap Rate
1.32%
Cash-on-Cash
-0.38%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93