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FineMark Bank And Concord Real Estate Investors Acquire Retail Asset In Estero For $12.05M
SOLD
$12,050,000
Florida
See Similar DealsRetail35,330 SF
Sold 06/30/2025
SOLD
FineMark Bank And Concord Real Estate Investors Acquire Retail Asset In Estero For $12.05M
10020 Coconut Road
See Similar DealsRetail35,330 SF
Sold 06/30/2025
Summary
FLORIDA
Asset Type:Retail
Price Per Square Foot:$341
Total Square Footage:35,330 SF
Transaction Type:Sale
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.
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Deal Type
30 years
10 years
Operating Income
Operating Expenses (Annual)
Net Operating Income (NOI)
$642,666.67
Debt Service Coverage Ratio (DSCR)
0.94x
Cap Rate
5.33%
Cash Flow (Annual)-$42,811.10
Cash-on-Cash Return-1.27%
Monthly Debt Service$57,123.15
Annual Debt Service$685,477.77
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