Catylist Listing ID: 30823448
Property Subtypes: Low-Rise/Garden
Number of Units: 10 Units
Building Size (RSF): 6,770 SF
Gross Building Area: 25,050 SF
Gross Land Area: 0.98 Acres
Sale Price: $1,200,000
Unit Price: $120,000 Per Unit
Property Use Type: Investment
Building Name: Banyan Tree Condo
Sale Terms: Cash to Seller
Cap Rate: 8.6%
Average Occupancy Rate: 100
Last Updated: 5/15/2023

Overview / Comments

Incredible investment opportunity in the heart of Fort Myers, FL. Ten condominium units are included in this package; all are two bedrooms with one full bath. All units are currently occupied with annual leases in place. Partial remodel in eight out of ten units. Rents are near market value, generating a very healthy NOI.

***Also available is a separate 3 - Condo Portfolio, creating a 13 Condo Portfolio giving an investor majority ownership.***

Attachments & Media


Finance Data Year 2022
Real Estate Taxes - Annual($) $10,752 (Annual)
Gross Operating Income $134,550 (Annual)
Net Operating Income $105,947 (Annual)
Actual or Proforma Year Actual

Additional Details

Nearest MSA: Cape Coral-Fort Myers
County: Lee
Submarket Type: Suburban
Taxing Authority: City/County
Tax ID/APN: 084425P40200000CE
Zoning: RS-7
Percent Occupied: 100%
Highway Access: Off Palm Beach Blvd. (SR-80). Approximately 3 miles to I-75.
Airports: SW Florida International Airport (RSW)
Site Description: Three separate buildings make up Banyan Tree Condo. Our ten units are throughout—parking space for 40 vehicles.
Total Number of Buildings: 3
Property Condition: Average
Number of Stories: 2
Year Built: 1985
Roof Type: Gable
Construction/Siding: Stucco, Wood Frame
Parking Type: Surface
Total Parking Spaces: 40
Laundry: In Each Unit
Sprinklers: Wet
Heat Type: Electricity, Space Heaters
Heat Source: Wall Units
Fuel: Electric
Air Conditioning: Other
Zoning Description: RS-7
Water Service: Municipal
Sewer Type: Municipal
Easements: Electric Lines

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Demographic Statistics

Proximity: 1 mile 3 miles 5 miles
Total Population: 10,942 49,081 105,071
Median Age: 29.88 40.61 42.81
Households: 3,442 18,662 43,768


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