541 Prospect Ave, FORT MYERS, FL 33905
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- MLS#: 2026014902 ( Commercial Sale )
- Street Address: 541 Prospect Ave
- Viewed: 1
- Price: $6,420,000
- Price sqft: $0
- Waterfront: No
- Waterfront Type: None
- Year Built: 1983
- Bldg sqft: 0
- Additional Information
- Geolocation: 26.6685 / -81.8243
- County: LEE
- City: FORT MYERS
- Zipcode: 33905
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DescriptionProspect & Wood is a stabilized, income producing 46 unit multifamily property comprising 23 duplexes, each configured as 2 Bedroom / 1 Bath. Built in 1983 and maintained under long term ownership, the asset offers a current annual gross rental projection of $565,800. At the offered price of $6,420,000, the investment delivers a 5.29% capitalization rate (based on a 40% expense ratio) and $139,565 per door a competitive entry point in the Fort Myers multifamily market. The property presents compelling rent upside potential of approximately $516,672 in additional annual income should rents reach the Lee County SHIP 2 Bedroom Fair Market Rent (FMR) benchmark of $1,961/month. Applying the FMR with a 38% operating expense ratio and 5% vacancy, the pro forma cap rate recasts to 9.93%. Prospect & Wood is offered as a standalone asset, ideally positioned for yield focused investors, regional multifamily operators, and 1031 exchange buyers seeking stabilized income with significant upside in the Greater Fort Myers submarket.
Property Location and Similar Properties
Features
Waterfront Description
- None
Close Date
- 0000-00-00
Inclusions
- Building And Land
Parcel Number
- 09-44-25-08-0000A.0170
Property Type
- Commercial Sale
Tax Year
- 2025
Utilities
- Electricity Connected
- Other
- Sewer Connected
- Water Connected
Year Built
- 1983



