14938 Wise Way Fort Myers, FL 33905
For Sale
$649,990
Waterfront Quadplex
Property Size3,000 SF
Lot Size0.32 Acres
Price / SF$216.66
Days on Market48
Property Features for 14938 Wise Way
General Information
- Standard status
- Active
- Property type
- Multifamily properties, Other residential income properties, Waterfront Land, Residential income properties, Land
- Size
- 3,000 SF
- Class
- B
- Total Parking Spaces
- 8
- Lot size
- 0.32 Acres
- Occupancy
- 100%
- Investment Type
- Value Add
- Net Operating Income
- $62,000
Building Details
- Year Built
- 1971
- Buildings
- 1
- Stories
- 2
- Units
- 4
Listing Agency:
(407) 758-2507
Listed By:
(407) 758-2507
Added: Jun 7
Investment Insights
Based on property information with market context.
Key Highlights
- Outside Storage available, 2 docks
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 | $69.8k | $23.28 |
| − Vacancy | −$2.9k | −$0.98 |
| EGI | $66.9k | $22.30 |
| − OpEx | −$30.1k | −$10.04 |
| NOI | $36.8k | $12.27 |
3,000 SF · lease $23.28/SF/yr · vacancy 4.20% · expense 45.00%
Alternative Uses
Best Use
Apartment 5plus
$525.7K
$460.0K – $613.3K
NOI $36,799 @ 7.0% cap · market cap 5.66%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$944.2K
$826.2K – $1.10M
NOI $66,096 @ 7.0% cap · market cap 10.17%
Zoning and permitted uses should be independently verified with local authorities.
Property Analytics
Location Intelligence
Current Use by Public Records
Residential income properties
FAQs
What type of property is this?
Multifamily property - Waterfront Quadplex
Where is this multifamily property located?
The property is located at 14938 Wise Way Fort Myers, FL.
What is the asking price?
The asking price for this property is $649,990.
What are key features of this property?
This property features: Outside Storage available, 2 docks
