Buyer gets 1,414 acres in Cape Coral for $3 million

Cape Coral

Fort Lauderdale-based real estate agent David Kraizgrun represented the winning bidder in the $3 million auction of a 1,414-acre parcel in Cape Coral.

The winning bidder, GA-Pinnacle Cape Coral, paid a price that equated to a little more than $2,100 per acre for the land, located off Burnt Store Road. Stan  Stouder of CRE Consultants had the listing for the land.

Kraizgrun told the News-Press in Fort Myers that the new owner intends to hold the land for future development.

He told the newspaper the owner's plan is “to wait and to see what happens as the Cape builds out.”

The seller is the Zemel family, one of the earliest major land owners in Southwest Florida. Family members who fled pograms in Russia purchased thousands of acres along the state's southern Gulf Coast during the 1920s and 1930. [News-Press] - Mike Seemuth