For Sale
$13,300,000

2117 Earl RdFort Myers, FL 33901

109-unit value-add opportunity in Florida.

Overview

Added:
Dec 11, 2024
Days on market:
113
This exceptional 109-unit independent living community, situated on 4.29 acres in Fort Myers, Florida, presents a compelling value-add investment opportunity. Built in 2015 and renovated in 2016, this Class B property boasts 58,061 square feet, with 27,250 square feet of net rentable space. Currently operating at 30% occupancy, the property offers significant upside potential. The 109 units comprise studios, deluxe studios, and one-bedroom apartments, many accommodating dual occupancy with an additional fee. Monthly rental rates range from $2,095 to $2,595, depending on unit size and features. The property features a U-shaped layout with double-loaded corridors, each unit including a private bathroom with a walk-in shower and closet. Extensive common areas include a lobby, reception, theater, activity rooms, spiritual room, offices, conference room, dining area, and a fully equipped commercial kitchen. Additional amenities include a beauty salon/barbershop, computer room, TV room, party space, and garden/patio areas. The property is zoned RM-16 and is conveniently located near Interstate 75 and US 41, offering easy access to major transportation routes. The property's location in Fort Myers, Lee County, benefits from a growing senior population and a desirable climate. While currently operating as independent living, the property's original design as an assisted living and memory care facility presents a potential avenue for increased revenue generation. The asking price is $13,300,000. This represents a unique chance to capitalize on the strong demand for senior living in a thriving Florida market.

Highlights

  • 109-unit independent living community offering studio, deluxe studio, and one-bedroom apartments with walk-in showers, motion-sensor lighting, individual A/C units, and state-of-the-art fire alarms.
  • Includes free Wi-Fi, electricity, housekeeping, laundry, and local transportation.
  • Offers independent, assisted living, and memory care units.
  • Features socialization programs and scheduled transportation.
  • Situated on the edge of a residential neighborhood in Fort Myers, Lee County, Florida.
  • Located in a region with a significantly higher percentage of residents aged 65+ than the Florida state average.

Property Details for 2117 Earl Rd

Property type
Retirement homes, Apartment buildings
Square Feet
58,061 SF
Class
B
Year Built/Renovated
2015/2016
Buildings
1
Stories
1
Lot Size (sq. ft)
186,872 SF
Units
109

Location Insight

City
Fort Myers
County
Lee
State
Florida
Latitude
26.6129145
Longitude
-81.8688646
2117 Earl Rd, Fort Myers, Florida

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2117 Earl Rd
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