Fort Myers Investment
2243/2245 ALTAMONT AVE Fort Myers, FL 33901
2243/2245 ALTAMONT AVE, Fort Myers, FL, 33901
Contact for pricing
Four-parcel package with income potential and development upside.
Property Size3,048 SF
Lot Size0.62 Acres
Price / SF$228.35
AddedMay 21
Days on Market57
Last RefreshJul 15 at 4:21 pm
Property Features for 2243/2245 ALTAMONT AVE
General Information
- Standard status
- Active
- Size
- 3,048 SF
- Lot size
- 0.62 Acres
- Property subtype
- Land, Mixed Use, Multifamily
Building Details
- Year Built
- 1954
Listing office Royal Shell Real Estate
Listing date May 21, 2026
Source Crexi
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
Investment Insights
Based on property information with market context.
This offering presents an investment opportunity in Fort Myers, featuring a package of four parcels. The anchor property, located at 2243/2245 Altamont Ave, is a duplex constructed in 1954, offering 3,048 square feet of living space, attached garages, and a concrete driveway, situated on 0.26 acres. A new roof was installed 2-3 years ago. Additionally, there are three adjacent vacant lots on Clifford Street, totaling 15,613 square feet of land. All four parcels are zoned NC (Neighborhood Commercial) by the City of Fort Myers, which allows for residential, professional office, retail, personal services, and mixed-use development. The package also qualifies under Florida's Live Local Act, potentially allowing for affordable multifamily development at increased density. The location is near Lee Memorial Hospital, Downtown Fort Myers, Edison Mall, Legacy Harbor Marina, Publix, and the Caloosahatchee River. The property offers possibilities such as collecting rental income while planning development, redeveloping the entire site commercially, or taking advantage of the Live Local Act for multifamily development. The properties have no flood history and no HOA. Financing options include cash or conventional.
Key Highlights
- Rare 4‑parcel package in a strategic Fort Myers location offering immediate income and development potential.
- NC (Neighborhood Commercial) zoning allows for diverse development options: residential, office, retail, mixed‑use.
- Qualifies under Florida's Live Local Act, enabling affordable multifamily development at increased density.
Local Financial Insights For Multifamily LT 5
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 | $60.4k | $19.80 |
| − Vacancy | −$2.7k | −$0.89 |
| EGI | $57.6k | $18.91 |
| − OpEx | −$17.3k | −$5.67 |
| NOI | $40.3k | $13.24 |
3,048 SF · lease $19.80/SF/yr · vacancy 4.50% · expense 30.00%
Alternative Uses
Best Use
Multifamily LT 5
$576.3K
$504.3K – $672.4K
NOI $40,344 @ 7.0% cap · market cap 5.80%
Second Best
Apartment 5plus
$534.1K
$467.3K – $623.1K
NOI $37,387 @ 7.0% cap · market cap 5.37%
Theoretical Best
Office A
$959.3K
$839.4K – $1.12M
NOI $67,154 @ 7.0% cap · market cap 9.65%
Zoning and permitted uses should be independently verified with local authorities.
Property Analytics
Property Profile
Location Intelligence
Current Use by Public Records
Commercial land
Similar For Sale Nearby
FAQs
What type of property is this?
Commercial land - Four-parcel package with income potential and development upside.
Where is this commercial land located?
The property is located at 2243/2245 ALTAMONT AVE Fort Myers, FL.
What is the asking price?
The asking price for this property is $696,000.
What are key features of this property?
This property features: Rare 4‑parcel package in a strategic Fort Myers location offering immediate income and development potential.; NC (Neighborhood Commercial) zoning allows for diverse development options: residential, office, retail, mixed‑use.; Qualifies under Florida's Live Local Act, enabling affordable multifamily development at increased density.
