Fourth-Floor Residential Income
For Sale
$148,000
2366 E MALL 403, Fort Myers, FL 33901
Split-bedroom condo with updated flooring, screened balcony, and access to a community pool and clubhouse.
Property Size1,092 SF
Days on Market174
Property Features for 2366 E MALL 403
General Information
Standard status
Active
Size
1,092 SF
Elevators
Yes
Property subtype
Other
Units
Unit Mix
1 x 2BR/2BA
Multifamily Units
1
Additional Details
Highway Access
Yes
Taxes and HOA fees
Annual Taxes
$2,044
Amenities
clubhouse
community pool
grilling area
assigned parking
laundry room
Building Details
Building Size
1,092 SF
Year Built
1979
Listing Agency:
THE KEYES COMPANY
Listed By:
Heather Porrett · License #258032352
(239) 744-6250
Source:
Elliman
Added: May 9
Changed: Oct 25
Last Checked: Oct 28 at 8:16AM
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 THE KEYES COMPANY
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Investment Insights
Based on property information with market context.
This fourth-floor condominium offers a two-bedroom, two-bath layout with more than 1,000 square feet of living area. The split-bedroom arrangement separates the sleeping quarters from the open living and dining space, while updated flooring and a screened balcony add practical appeal. The balcony overlooks the courtyard and includes partial pool views. The unit is positioned across from the elevator, laundry room, and trash chute, and includes assigned parking.
Community amenities include a clubhouse, pool, grilling area, and elevator access. The property is located in Fort Myers near Edison Mall, Bell Tower Shops, restaurants, shopping, RSW Airport, and I-75. Built in 1979, the condominium may suit seasonal occupancy, investment use, or an owner seeking a Florida residence.
Community amenities include a clubhouse, pool, grilling area, and elevator access. The property is located in Fort Myers near Edison Mall, Bell Tower Shops, restaurants, shopping, RSW Airport, and I-75. Built in 1979, the condominium may suit seasonal occupancy, investment use, or an owner seeking a Florida residence.
Key Highlights
- Two‑bedroom, two‑bath condominium with more than 1,000 sq ft
- Fourth‑floor unit with split‑bedroom floor plan
- Screened balcony with courtyard and partial pool views
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$13,395
Cap Rate
9.05%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$267,900
$267.9K
Cap Rate 7%
$191,357
$191.4K
Cap Rate 9%
$148,833
$148.8K
Market Conditions
NOI Build-Up for 1,092 SF
Gross rent
$25.4K $23.28/SF
− Vacancy
−$1.1K −$0.98/SF
EGI
$24.4K $22.30/SF
− OpEx
−$11.0K −$10.04/SF
NOI
$13.4K $12.27/SF
Area
Lee County, FL
Vacancy
4.20%
Lease Rate
$23.28 /SF/Yr
Expense Ratio
45.00%
Simulate Cap Rate and NOI
Suggested Prices Based on Cap Rates
Cap Rate 5%
$267,900
Cap Rate 7%
$191,357
Cap Rate 9%
$148,833
Alternative Uses
Best Use
Apartment 5plus
$191.4K
$167.4K – $223.3K
NOI $13,395 @ 7.0% cap · market cap 9.05%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$343.7K
$300.7K – $401.0K
NOI $24,059 @ 7.0% cap · market cap 16.26%
Zoning and permitted uses should be independently verified with authorities.
How Realmo checks its estimates
Property Analytics
Lease Details
1
Residential units
Yes
Highway access
Location Intelligence
Trade Area within ½ mile
1,178
Businesses Nearby
Explore this area
Business Placement
Demographics for 33901, FL
22,629
Population
11,709
Households
1.9
Avg Household Size
43
Median Age
29%
College-Educated
83%
High-School Grad
6.2 sq mi
ZIP Area
3,650
Density / Sq Mi
$51,579
Median Household Income
$37,233
Median Earnings
$1,291
Median Rent
$280,400
Median Home Value
Frequently Asked Questions
What type of property is this?
Residential income property - Split-bedroom condo with updated flooring, screened balcony, and access to a community pool and clubhouse.
Where is this residential income property located?
The property is located at 2366 E MALL 403 Fort Myers, FL.
What is the asking price?
The asking price for this property is $148,000.
What are key features of this property?
This property features: Two‑bedroom, two‑bath condominium with more than 1,000 sq ft; Fourth‑floor unit with split‑bedroom floor plan; Screened balcony with courtyard and partial pool views
