For Sale
$198,000,000

0 Is Vlg Cir St JamesSaint James City, FL 33956

360 Units, High ROI Potential

Overview

Added:
Dec 11, 2024
Days on market:
113
Exceptional investment opportunity: A fully permitted, 360-unit condo development on 37.5 acres in Saint James City, Florida, is available for $198,000,000. This Class A multifamily property boasts 496,800 square feet of space, with 90 buildings containing six quadplexes each. Each unit is approximately 5,520 square feet, and the project features 15 cul-de-sacs. The property is zoned for multifamily use and offers a projected 7.34% cap rate based on daily vacation rentals of $275 per unit. The location in Saint James City provides access to numerous outdoor activities, including fishing, boating, and kayaking. The strong demand for housing in Southwest Florida makes this a compelling investment opportunity. The property's pro-forma NOI is $14,530,320, and the price per unit is $550,000. The price per square foot is $398.55. All information is believed to be accurate but should be verified independently.

Highlights

  • 360 fully entitled condo units with all necessary permits.
  • Stunning natural setting.
  • Convenient proximity to outdoor recreational amenities.
  • 7.34% per-unit cap rate based on daily rental projections.
  • Exceptional ground-floor investment opportunity.

Property Details for 0 Is Vlg Cir St James

Property type
Land, Hospitality properties
Square Feet
496,800 SF
Class
A
Buildings
90
Stories
3
Lot Size (sq. ft)
1,633,500 SF
Units
360

Location Insight

City
Saint James City
County
Lee
State
Florida
Latitude
26.581564
Longitude
-82.109285
Is Vlg Cir St James, Saint James City, Florida

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