Golf Course View
10487 Washingtonia Palm Way 3615 Fort Myers, FL 33966
10487 Washingtonia Palm Way 3615, Fort Myers, FL, 33966
$405,000
Pending
For Sale
$405,000
Pending
Turnkey condo with golf course, lake, and preserve views.
Property Size1,414 SF
Days on Market547
Property Features for 10487 Washingtonia Palm Way 3615
General Information
- Standard status
- Pending
- Size
- 1,414 SF
- Property subtype
- Condo/Townhome
Building Details
- Year Built
- 2004
Listing agency
Royal Shell Real Estate, Inc.
(612) 385-2725
Listed by
Keri Abed · License #258020630
(612) 385-2725
Source
Exitrealty
Added: Jan 22, 2025 Updated: Jul 6 at 12:16PM Checked: Jul 22 at 6:07AM
Displayed information is deemed reliable but is not guaranteed and should be independently verified. All listing content including descriptions, pricing, images are the copyrighted material of Royal Shell Real Estate, Inc.
Investment Insights
Based on property information with market context.
This first-floor Barrington condo is being offered turnkey, featuring decor and views of the golf course, lake, and preserve. The property benefits from natural light. The main living area features tile floors, while the kitchen includes GE Profile stainless steel appliances and raised panel cabinets. The layout includes 2 bedrooms, 2 bathrooms, and a den that could serve as a third bedroom. The condo is located near the clubhouse, fitness center, and one of the neighborhood pools. Heritage Palms offers 36 holes of golf, tennis, pickleball, live music, and social events. The new Oasis Pool bar is scheduled to open in April of 2025. The location provides proximity to dining, shopping, entertainment, nature preserves, and airports. The property has a size of 1414 square feet.
Key Highlights
- Turnkey first‑floor Barrington condo with GOLF COURSE, LAKE, AND PRESERVE VIEWS.
- Located a short distance from clubhouse, fitness center, and neighborhood pool.
- Features GE Profile stainless steel appliances and raised panel cabinets in the kitchen.
Local Financial Insights For Apartment 5plus
Simulate Cap Rate and NOI
NOI Build-Up
- Vacancy
- income lost from leasable area expected to sit empty during the year — subtracted from gross rent.
- EGI (Effective Gross Income)
- gross rent minus vacancy losses — the realistic income before paying operating costs.
- OpEx (Operating Expenses)
- recurring costs to operate the property (property tax, insurance, utilities, maintenance, management) — excludes financing and capital improvements.
- NOI (Net Operating Income)
- income a property generates after operating costs but before financing and taxes.
| Component | $ | $/SF |
|---|---|---|
| Gross rent | $32.9k | $23.28 |
| − Vacancy | −$1.4k | −$0.98 |
| EGI | $31.5k | $22.30 |
| − OpEx | −$14.2k | −$10.04 |
| NOI | $17.3k | $12.27 |
1,414 SF · lease $23.28/SF/yr · vacancy 4.20% · expense 45.00%
Alternative Uses
Best Use
Apartment 5plus
$247.8K
$216.8K – $289.1K
NOI $17,344 @ 7.0% cap · market cap 4.28%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$445.0K
$389.4K – $519.2K
NOI $31,153 @ 7.0% cap · market cap 7.69%
Zoning and permitted uses should be independently verified with local authorities.
Property Analytics
Property Profile
Location Intelligence
Current Use by Public Records
Residential income properties
Similar For Sale Nearby
FAQs
What type of property is this?
Residential income property - Turnkey condo with golf course, lake, and preserve views.
Where is this residential income property located?
The property is located at 10487 Washingtonia Palm Way 3615 Fort Myers, FL.
What is the asking price?
The asking price for this property is $405,000.
What are key features of this property?
This property features: Turnkey first‑floor Barrington condo with GOLF COURSE, LAKE, AND PRESERVE VIEWS.; Located a short distance from clubhouse, fitness center, and neighborhood pool.; Features GE Profile stainless steel appliances and raised panel cabinets in the kitchen.
