Barclay Group Purchases 2.2 Acre Retail Parcel In Fort Myers For $2.2M From Continental Realty Corp
10580 Colonial Boulevard
$2,200,000
$27/SF
Building Size
79,970 SF
Asset Type
Retail
Closing
Feb 25, 2025
AI
Continental Realty Corp. sold a 2.2-acre outparcel at 10580 Colonial Boulevard, Fort Myers, for $2,200,000. The retail property encompasses approximately 79,970 square feet, translating to a price per square foot of $28.
Summary of transaction details:
- Property Type: Retail
- Transaction Amount: $2,200,000
- Acres: 2.2
- Square Footage: 79,970
- Address: 10580 Colonial Boulevard
- Market: Fort Myers
- Buyer: David S. Coia - Barclay Group
- Seller: JM Schapiro - Continental Realty Corp
- Buyer's Representative: Tyler McRae - SRS Real Estate Partners
- Seller's Representative: Blake Dickinson - Continental Realty Corp
- Seller's Representatives: Jessica McEvoy & Bob Pekol - LandQwest Commercial
Barclay Group, represented by Tyler McRae, plans to develop a 42,000 square foot EoS Fitness on the site by 2026, enhancing the outparcel's utility in the local retail landscape.
Players
Fort Myers Retail Market Snapshot
Boundary boundary · Retail · Sale transactions
Loading comparables…
Purchase Price
Annual NOI
Loan Amount
Interest Rate (%)
Loan Term (yrs)
Down Payment (%)
Cap Rate
7.21%
Cash-on-Cash
-2.06%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93