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Barclay Group Purchases 2.2 Acre Retail Parcel In Fort Myers For $2.2M From Continental Realty Corp
SOLD
Florida
See Similar DealsRetail79,970 SF
Sold 02/25/2025
SOLD
Barclay Group Purchases 2.2 Acre Retail Parcel In Fort Myers For $2.2M From Continental Realty Corp
10580 Colonial Boulevard
See Similar DealsRetail79,970 SF
Sold 02/25/2025
Summary
FLORIDA
Asset Type:Retail
Price Per Square Foot:$27
Total Square Footage:79,970 SF
Transaction Type:Sale
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
BUYER
Details
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Deal Type
30 years
10 years
Operating Income
Operating Expenses (Annual)
Net Operating Income (NOI)
$117,333.32
Debt Service Coverage Ratio (DSCR)
0.94x
Cap Rate
5.33%
Cash Flow (Annual)-$7,816.15
Cash-on-Cash Return-1.27%
Monthly Debt Service$10,429.12
Annual Debt Service$125,149.47
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