Fully Entitled 100+ Acres in North Fort Myers, FL - Approved for 550 Multi-Family Units
NORTHBROOK, Ill.--(BUSINESS WIRE)--Hilco Real Estate, LLC announces a drastic price reduction for a multi-family development site located in North Fort Myers, FL. The property is now being offered for sale at $4,995,000, only $9,080 per approved unit. The Fort Myers – Cape Coral Metro Area was recently voted 2017 America’s Fastest-Growing City by Forbes. This 100+ acre site is shovel ready and fully entitled for 550 multi-family units over 25 buildings. The property is located on heavily traveled Del Prado Boulevard between I-75 and Cleveland Ave (41), minutes from The Shoppes of Del Prado (Publix & Walgreens).
The Fort Myers, Cape Coral, and North Fort Myers areas are experiencing some of the fastest growth rates in the country. Population growth and employment growth are among the best in the US, key indicators that multi-family housing will be in demand over the coming years.
The approved site plan allows for flexible construction which can be easily phased in as buildings get leased up. The Permits include a Lee County Development Order, South Florida Water Management District Environmental Resource Permit (SFWMD ERP), SFWMD Water Use Permit, Army Corps of Engineers (ACOE) Nationwide Permit, and others.
Jeff Azuse, Senior Vice President for Hilco Real Estate stated, “Rarely is a fully entitled multi-family development site like this available at such an attractive price. The Fort Myers and North Fort Myers markets are experiencing positive growth and the demand for residences should continue to grow into the near future. The prime location gives future residents easy access to shopping, golf courses, and all the amenities that south Florida offers.”
For more due diligence information and to view the terms of sale, please visit www.HilcoRealEstate.com/FortMyers or contact a member of our transactional team at 855-755-2300.
Hilco Real Estate, LLC: Hilco Real Estate, LLC (“HRE”), a Hilco Global company, is headquartered in Northbrook, Illinois (USA). HRE is a national provider of strategic real estate disposition services. Acting as an agent or principal, HRE uses its experience to advise and execute strategies to assist clients in deriving the maximum value from their real estate assets.