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BUYER: Kalia LLC (manager: Prabin Mishra), Palmetto
SELLER: Midcities LLC
PROPERTY: 10081 Estero Town Commons Place, Estero
PRICE: $1.8 million
PREVIOUS PRICE: $1.4 million, June 2009
LAW FIRM ON DEED: Siegel Lipman & Shepard LLP, Boca Raton
PLANS, DESCRIPTION: Prabin Mishra, a cosmetic surgeon with The Eye Associates ophthalmology practice, purchased a 5,103-square-foot restaurant building for $1.8 million.
The price equated to $353 per square foot. That figure is higher than the two-year average price per square foot for retail space ($144) in Southwest Florida, according to the CoStar Group.
The 6-year-old building has been leased to Ruby Tuesday for the past several years. It occupies a 1.6-acre parcel south of Corkscrew Road and west of Interstate 75.
Mishra says the property was purchased as an investment and that he is looking for other good performing real estate statewide.
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