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    541 Prospect Ave Fort Myers, FL 33905

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    For Sale
    $6,420,000

    Income-producing 46-unit multifamily property with significant upside potential.

    Type:Commercial
    Added:
    Mar 31, 2026
    Days on Market:
    31
    Last Refresh:
    Mar 31 at 4:44 am

    Property Features for 541 Prospect Ave

    General Information

    Standard status
    Active
    Property subtype
    Commercial

    Building Details

    Year Built
    1983

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    Listing Contact
    Jacob Mossholder

    Listing agent Jacob Mossholder License #258034564

    Listing office Premier Agent Network, Inc.

    Listing date Mar 31, 2026

    Source Elliman

    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 Premier Agent Network, Inc.


    Overview

    Stabilized Multifamily Investment Opportunity

    This stabilized, income-producing multifamily property features 46 units, consisting of 23 duplexes. Each unit is configured with 2 bedrooms and 1 bath. Constructed in 1983 and maintained under long-term ownership, the property offers a current annual gross rental projection of $565,800. The investment delivers a 5.29% capitalization rate (based on a 40% expense ratio). The property presents compelling rent upside potential of approximately $516,672 in additional annual income should rents reach the Lee County SHIP 2-Bedroom Fair Market Rent (FMR) benchmark of $1,961/month. Applying the FMR with a 38% operating expense ratio and 5% vacancy, the pro forma cap rate recasts to 9.93%. This property is ideally positioned for yield-focused investors, regional multifamily operators, and 1031 exchange buyers seeking stabilized income with significant upside in the Greater Fort Myers submarket. The bike score is 47, indicating it is somewhat bikeable, and the walk score is 39, indicating car-dependent.
    Location Intelligence

    Current Use by Public Records

    Duplexes

    Suggested Use

    Real Estate Agency Law Firm Restaurant Spa & Massage Center Dental Office Hair Salon Nail Salon Building Supply Pharmacy Accounting Firm

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

    Location Insight

    • Map
    • Local Demand
    City
    Fort Myers
    County
    Lee
    State
    Florida
    Longitude
    -81.823997
    Latitude
    26.668013

    FAQs

    What type of property is this?
    Duplex - Income-producing 46-unit multifamily property with significant upside potential.
    Where is this duplex located?
    The property is located at 541 Prospect Ave Fort Myers, FL.
    What is the asking price?
    The asking price for this property is $6,420,000.
    What are key features of this property?
    This property features: Stabilized, income‑producing 46‑unit multifamily property.; Significant rent upside potential of approximately $516,672 in additional annual income.; Competitive entry point at $139,565 per door in the Fort Myers multifamily market.
    More about this property
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