BUYER: Life Christian Church International Naples Inc. (principals: Marie Lasala, Shane Walker, Tracy Boyd and James Boyd), Naples
SELLER: Naples Fitness Club Inc.
PROPERTY: 1048 Castello Drive, Naples
PRICE: $1.5 million
PREVIOUS PRICE: $755,000, April 2000
LAW FIRM ON DEED: Douglas A Wood PA, Naples
PLANS, DESCRIPTION: Life Christian Church purchased the 18,000-square-foot former Naples Fitness Center for $1.5 million.
The price equated to $83 per square foot. That figure is less than the two-year average price per square foot for retail space ($140) in Southwest Florida, according to the CoStar Group.
The two-story building occupies a 1.6-acre parcel near U.S. 41 south of Pine Ridge Road. The main building and swimming pool were built in 1979, and its tennis courts were constructed two years later. The building has been vacant since late 2011, when the then 32-year-old fitness business closed.
Life Christian Church currently leases its Naples campus at 3001 Santa Barbara Blvd. The new building is twice as large, according to the church's pastor, James Boyd.
“The church decided to purchase the property due to [the] location, size and terms of financing,” Boyd says in an email to the Business Observer. “Changes that are planned will be all code upgrades with the county as well as the creation of a state-of-the-art auditorium/sanctuary, youth facility and children's ministry wing.”
Dave Wallace of CRE Consultants represented the seller in the transaction.
The church mortgaged the property to Coastal Naples LLC for $1.35 million.