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Classic Car Wash, real estate sells to Estero investors


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  • | 10:00 a.m. March 13, 2015
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BUYER: Blue Coast Properties LLC (principals: Fatih Akbulut and Isan Mamati), Estero
SELLER: Classic Car Wash Inc.
PROPERTY: 10000 Arcos Ave., Estero
PRICE: $2.2 million
PREVIOUS PRICE: $925,000, February
LAW FIRM ON DEED: Kevin F. Jursinski PA, Fort Myers

PLANS, DESCRIPTION:
A company owned by Fatih Akbulut and Isan Mamati of Estero purchased the 8,600-square-foot real estate of Classic Car Wash for $2.2 million.

The price equated to $256 per square foot. That figure is higher than the two-year average price per square foot for retail space ($150) in Southwest Florida, according to the CoStar Group. The car wash property features four office spaces and sits on a 1.5-acre parcel.

Classic Car Wash is one of the only full-service car wash businesses in the Villages of Estero. Along with car washes, Classic Car Wash also offers auto detailing and oil changes.

The buyers purchased the personal property of the business for an additional $500,000.

The purchase entity, Blue Coast Properties LLC, mortgaged the property to Paradise Bank for $2.23 million.

 

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