Skyline/Trafalgar Land Project
28-acre parcel geographically located in the middle of Cape Coral, FL (2nd largest city, in land mass, in the state of Florida).
Russ originally developed a site plan for offices and commercial out parcels.
At one point Russ was thinking of building a 100,000 square foot office building for his public company, Whitney Education Group.
Purchase price for the parcel was $5,160,000
Within 5 months, Russ decided to sell the land to the Lee County School district to build a new school, even though he and his company could have made a higher profit by adding utilities to the parcel.
They sold the parcel for $8,500,000 giving Whitney a profit of $3,340,000 or $22,266 a day.
Both Osprey Point and the Enclave are 5-acre parcels with 14 home sites each. The lots are arranged in a box formation that are interlinked by an eight-foot high decorative privacy fence and backed by a common area. The common area includes a built-in pool, bicycle paths, playground, Bar-B-Q area and a pavilion.
Purchased 5 Acre parcel for $35,000
Sub-divided into 14 lots for $40,000 per lot
Sold lots for $560,000
Profit = $525,000 plus profit on each home built.