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10580 Colonial Boulevard

Barclay Group Purchases 2.2 Acre Retail Parcel In Fort Myers For $2.2M From Continental Realty Corp
SOLDRetail

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

Tyler McRae

Meridian Retail Group

Broker

$12.8M

vol

2 deals

Broker
BG
Barclay GroupBuyer
JM Schapiro

JM Schapiro

Seller

$396M

vol

12 deals

Seller

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