Back to Search
Spacious Condo with Lanai View

4122 Residence Drive 120 Fort Myers, FL 33901

4122 Residence Drive 120, Fort Myers, FL, 33901
$152,000
For Sale
Claim this Listing
$152,000

Centrally located condo with lanai, close to amenities.

Property Size697 SF
Lot Size0.19 Acres
Price / SF$218.08
AddedNov 1, 2024
Days on Market622
Last RefreshMay 19 at 10:47 pm

Property Features for 4122 Residence Drive 120

General Information

Standard status
Active
Size
697 SF
Lot size
0.19 Acres
Property subtype
Condo/Townhome

Building Details

Year Built
2005

Listing office Premiere Plus Realty Company

Listing date Nov 1, 2024

Source Exitrealty

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 Premiere Plus Realty Company


Investment Insights

Based on property information with market context.

This spacious condo features one bedroom and a large bathroom. The open-concept design is complemented by high ceilings and a screened lanai that overlooks a green backyard. The property is conveniently located within walking distance of a mall, restaurants, coffee shops, and other retail establishments. A bus station nearby provides access to local towns and beaches. The River District and historic downtown Fort Myers, with its art galleries and antique shops, are also close. Numerous dining options are available downtown. The property is near the Convention Center, the Marina in the River District, and a park. McGregor Street, known as the longest street in Southwest Florida, features historic homes and museums, including the Thomas Edison and Ford Herrison historic homes. The waterfront Pinchers Restaurant, with its marina and river views, is also nearby. This unit is currently rented annually, offering residual income potential for investors.

Key Highlights

  • Central location within walking distance to malls, restaurants, coffee shops, and shopping.
  • Close proximity to the River District and historic downtown Fort Myers with art galleries, antique shops, restaurants, convention center, and marina.
  • Spacious 1‑bedroom condo with a large bathroom.

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 $16.2k $23.28
− Vacancy −$681 −$0.98
EGI $15.5k $22.30
− OpEx −$7.0k −$10.04
NOI $8.5k $12.27
697 SF · lease $23.28/SF/yr · vacancy 4.20% · expense 45.00%

Alternative Uses

Best Use
Apartment 5plus
$122.1K
$106.9K – $142.5K (±1% cap)
NOI $8,550 @ 7.0% cap · market cap 5.63%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$219.4K
$192.0K – $255.9K (±1% cap)
NOI $15,356 @ 7.0% cap · market cap 10.10%
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

Suggested Use

Catering Service Tanning Salon (Bike/Boat/Book/etc) Store Fish Market Acupuncture Butcher (Bike/Boat/Book/etc) Store Electrical Service Buffet Wine and Liquor Store

Zoning and permitted uses should be independently verified with local authorities.

FAQs

What type of property is this?
Residential income property - Centrally located condo with lanai, close to amenities.
Where is this residential income property located?
The property is located at 4122 Residence Drive 120 Fort Myers, FL.
What is the asking price?
The asking price for this property is $152,000.
What are key features of this property?
This property features: Central location within walking distance to malls, restaurants, coffee shops, and shopping.; Close proximity to the River District and historic downtown Fort Myers with art galleries, antique shops, restaurants, convention center, and marina.; Spacious 1‑bedroom condo with a large bathroom.
Contact an agent
More about this property
Thanks! Your message was sent.
Error! Your message wasn't sent.
Please enter your name
Please enter email
Please enter the email in the correct format
Please enter phone
Please enter the number in the correct format
Please enter message