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$ 950,000
Est. payment | /mo
0.67 Acres Lot
$ 950,000
Est. payment | /mo
0.67 Acres Lot
Key Details
Property Type Commercial
Listing Status Active
Purchase Type For Sale
MLS Listing ID 225046592
Style Resale Property
HOA Y/N No
Year Built 1972
Annual Tax Amount $6,680
Tax Year 2024
Lot Size 0.674 Acres
Acres 0.674
Source Florida Gulf Coast
Property Description
8-Plex Income Property on Large Lot with Strong Cap Rate.
This concrete block 8-plex in North Fort Myers delivers steady income and minimal upkeep. The building includes 5 two-bedroom units and 3 one-bedroom units, totaling 13 bedrooms and 8 bathrooms, with each unit averaging around 700 sq ft.
Gross rental income in 2024 was $93,795, and with professional management included in expenses, the property yields a 7.61% cap rate. Tenant history is strong, with several long-term residents, and all current leases are month-to-month, offering flexibility for future adjustments.
The property sits on a .67-acre lot with plenty of room, featuring paved parking and a grassy overflow area for additional vehicles. Recent upgrades include a 2023 ROOF, new septic system (per property manager), fresh exterior paint, new front windows, and new paved parking. All units but one have been updated, and three units are currently vacant, offering immediate income potential in a high-demand rental market.
Conveniently located near Walmart, Home Depot, restaurants, schools, and public transportation via US-41 and nearby bus stops.
Owner pays garbage, water, and mowing. Tenants pay everything else.
Please do not disturb tenants.
This concrete block 8-plex in North Fort Myers delivers steady income and minimal upkeep. The building includes 5 two-bedroom units and 3 one-bedroom units, totaling 13 bedrooms and 8 bathrooms, with each unit averaging around 700 sq ft.
Gross rental income in 2024 was $93,795, and with professional management included in expenses, the property yields a 7.61% cap rate. Tenant history is strong, with several long-term residents, and all current leases are month-to-month, offering flexibility for future adjustments.
The property sits on a .67-acre lot with plenty of room, featuring paved parking and a grassy overflow area for additional vehicles. Recent upgrades include a 2023 ROOF, new septic system (per property manager), fresh exterior paint, new front windows, and new paved parking. All units but one have been updated, and three units are currently vacant, offering immediate income potential in a high-demand rental market.
Conveniently located near Walmart, Home Depot, restaurants, schools, and public transportation via US-41 and nearby bus stops.
Owner pays garbage, water, and mowing. Tenants pay everything else.
Please do not disturb tenants.
Location
State FL
County Lee
Zoning C-1
Interior
Cooling true
Inclusions Building And Land
Fireplace No
Exterior
Utilities Available Electricity Connected, Water Connected
Waterfront Description None
Total Parking Spaces 12
Garage No
Building
Story 1
Level or Stories 1
New Construction No
Others
Senior Community No
Tax ID 02-44-24-04-00006.0030
Listed by RE/MAX Nautical Realty • Brooke Cole
"Molly's job is to find and attract mastery-based agents to the office, protect the culture, and make sure everyone is happy! "