Downtown Property Investment LLC buys Naples' Sunset Plaza

BUYER: Downtown Property Investment LLC (officers: Zamil Ahammad and Mary Roper), Naples
SELLER: Kingstown Family Trust II LLC
PROPERTY: 10823 Tamiami Trail N., Naples
PRICE: $1.65 million
PREVIOUS PRICE: $1.95 million, March 2007
LAW FIRM ON DEED: Coleman Yovanovich & Koester PA, Naples

PLANS, DESCRIPTION:
A company led by Zamil Ahammad of Naples and Mary Roper of Marco Island purchased the 8,000-square-foot Sunset Plaza for $1.65 million.

The price equated to $206 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 main strip center building was constructed in 1979.

Recent tenants include the Po Boys Shrimp Shack, Boost Mobile, Hair Cuts by Joe Cool and Vapor Life Naples Vaping and E-Cig Store.

The seller, Kingstown Family Trust II LLC led by John Allen of Minneapolis, purchased the center for $300,000 near the top of the real estate market in early 2007.