Windward Way Condo C/E FORT MYERS, FL 33908

About This Property

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.?

infoProperty Details

Property Type: Commercial Lot
Lot Size: 4.77 acres
Days on Market: 44
Cumulative DOM: 93
List Date: Sep 28, 2021
Sold Date: Dec 30, 2021
Annual Taxes: $11K (2020)
HOA Fee: $0

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City

$1,250,000