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- LoopNet Team
15940 McGregor
Fort Myers, FL 33908
Land For Sale
·
4.77 AC
Investment Highlights
- ?Previously Approved for 36 Units in 51k SF, but Density can be increased to 60+ units.
- ?Recent Residential Development in Immediate Area With Proven Profitability
- RM-2 Zoning Allows For Variety of Development Options
- ?Tremendous Exposure to Thriving Southern Ft. Myers Corridor
- ?Easy access to primary vehicular arteries, Sanibel Outlets, prime retailers, and Sanibel Island
Property Facts
Description
Compass Commercial is proud to present a previously approved 36-unit, 4.77-acre multifamily development site in the heart of Fort Myers, Florida.? The subject property is located at 15952 McGregor Blvd, Fort Myers, FL 33908, one of Fort Myers's primary corridors, connecting downtown to Sanibel Island.? The parcel sits at the entrance to Windward Way Condominiums, is in immediate proximity to major retailers, and is only 1-mile north of Sanibel Outlets and Publix.? The project had been previously approved in 2007 for 53k square feet of buildable area, and new zoning allows increased density to approximately 60+ units.? The project is perfectly positioned to develop a 65k-70k gross square foot rental or for-sale residential development by any regional or corporate investor.? Southern Lee County's strong multifamily demand and a rapidly diminishing supply pipeline have cut the average vacancy rate by nearly half over the past three quarters.? While the supply pipeline now only has 180 units underway, the improving market fundamentals place strong demand on housing, with very few fully approved multifamily development projects currently available within the market.? The submarket's large geography includes high population growth areas with premiums placed on residential developments within the Ft.? Myers city limits.? Southern Ft.? Myers is adjacent to Collier County and also siphons demand from the Naples market.? In particular, Southern Lee County offers a somewhat more attractive option to renters willing to commute from the North Naples submarket.? Florida Gulf Coast University (FGCU) is located within commuting distance to the subject property, with spillover demand from students unable to secure on-campus housing.? Major arterial roads such as I-75 and Tamiami Trail run near the subject property and provide easy access for commuters to reach jobs locally or in nearby markets.? Additionally, the site's access to Southern McGregor Blvd provides residential options and easy access to commuters and visitors to Sanibel Island, which is only 3 miles south of the property.?
Property Taxes
| Parcel Number | 36-45-23-21-00000.00A0 | Improvements Assessment | $0 |
| Land Assessment | $750,869 | Total Assessment | $750,869 |
Property Taxes
