Six years after buying a 31-acre lot in Aruba off North River Road, real estate investor Mike Case finally saw his efforts pay off.
Cases that own several businesses, including the North Fort Myers Classic Auto Restoration Specialist, purchased Serengeti at the Serengeti Circle in 2016. At that time, he paid about $ 420,000 for 16 home sites. Real estate records average $ 26,250 per lot.
Over the years, Case has invested thousands of dollars in assets to prepare for development.
In May, Lennar Homes purchased the remaining 14 home sites for $ 1.1 million. That’s an average of $ 78,571 per lot.
“It was abandoned,” Case said of Serengeti, about seven miles east of State Highway 31. It took a lot of work. There were many issues between the original developer and the real estate owner. So it was a big job. “
Lennar Homes will soon begin construction of homes that range from 2,400 to 4,000 square feet and cost more than $ 700,000.
“I’m glad that Renner is in,” Case said. “I think it will be a great partnership with Serengeti. We want to call this luxury in this country. There aren’t many such properties in Lee County.”
When the case doesn’t tend to trade real estate, he’s usually in the North Fort Myers garage and tends to repair classic cars.
“We restore classic customs and exotic cars,” Case said. “I think there are 30 projects underway right now. We have certainly built hundreds, hundreds, hundreds of cars. You will always see $ 3 [million] For a car worth $ 4 million. “
Case owns four other companies that keep him busy, but car repair remains his passionate project.
“There are many similarities,” Case said of his various businesses. “These are different products, but the business process is the same. Whether it’s real estate, automobiles, staffing, property management, or construction, the process is the same. The product is also an employee. Are different, but everything else is the same. “
The next Case is updating the garage on the 17570 N. Tamiami Trail.
“We are in the process of expansion and refurbishment,” Case said. “We have demolished about 5,000 car and dealer memorabilia. We are currently refurbishing. We are giving more audio and visual presentations. Adding more technology to the design. We’re expanding because we’re adding about 5,000 square feet. We’ll all be done by the end of next year. In fact, we started today. We’ll start a major remodeling in the next six months. “