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Royal Palm Apartments 2771 Royal Palm Ave 33 Unit Apartment Building $4,400,000 ($133,333/Unit) 6.79% Cap Rate Fort Myers, FL 33901
Investment Highlights
- The largest employer is Lee Health, with more than 14,000 workers employed through the organization’s many locations in the region.
- The metro is home to spring training facilities for the Boston Red Sox and Minnesota Twins, drawing tourists from New England and the Midwest.
- Regional and national retailers, such as Publix, Winn-Dixie, Walmart and Home Depot, support tens of thousands of jobs in Lee County.
Property Facts
| Price | $4,400,000 | Building Class | B |
| Price Per Unit | $133,333 | Lot Size | 0.90 AC |
| Sale Type | Investment | Building Size | 25,359 SF |
| Cap Rate | 6.79% | Average Occupancy | 82% |
| No. Units | 33 | No. Stories | 3 |
| Property Type | Multifamily | Year Built | 2023 |
| Property Subtype | Apartment | Parking Ratio | 1.17/1,000 SF |
| Apartment Style | Low-Rise | ||
| Zoning | C1 - General Commercial | ||
| Price | $4,400,000 |
| Price Per Unit | $133,333 |
| Sale Type | Investment |
| Cap Rate | 6.79% |
| No. Units | 33 |
| Property Type | Multifamily |
| Property Subtype | Apartment |
| Apartment Style | Low-Rise |
| Building Class | B |
| Lot Size | 0.90 AC |
| Building Size | 25,359 SF |
| Average Occupancy | 82% |
| No. Stories | 3 |
| Year Built | 2023 |
| Parking Ratio | 1.17/1,000 SF |
| Zoning | C1 - General Commercial |
Amenities
Unit Amenities
- Cable Ready
- Dishwasher
- Disposal
- Microwave
- Washer/Dryer
- Heating
- Security System
- Ceiling Fans
- Eat-in Kitchen
- Kitchen
- Granite Countertops
- High Speed Internet Access
- Ice Maker
- Refrigerator
- Oven
- Sprinkler System
- Stainless Steel Appliances
- Range
- Tub/Shower
- Double Pane Windows
- Family Room
- Freezer
- Instant Hot Water
- Island Kitchen
- Lawn
- Linen Closet
- Pantry
- Smoke Free
- Window Coverings
Site Amenities
- 24 Hour Access
- Tenant Controlled HVAC
- Smoke Free
- Walk-Up
- Smoke Detector
Unit Mix Information
| Description | No. Units | Avg. Rent/Mo | SF |
|---|---|---|---|
| 1+1 | 33 | - | 675 - 725 |
1 1
Property Taxes
| Parcel Number | 24-44-24-P3-0260E.0100 | Improvements Assessment | $3,145,249 |
| Land Assessment | $348,021 | Total Assessment | $3,628,616 |
Property Taxes
Parcel Number
24-44-24-P3-0260E.0100
Land Assessment
$348,021
Improvements Assessment
$3,145,249
Total Assessment
$3,628,616
Contacts
-
Evan Richardson -
Dillon Majeski -
Daniel Cunningham -
River Rhoads -
Cory Sanchez -
Marcus & Millichap
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Royal Palm Apartments | 2771 Royal Palm Ave
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