4400 Bonita Beachwalk Dr Bonita Spg, Bonita Springs, FL 34134

Property Details for 4400 Bonita Beachwalk Dr Bonita Spg

Year built

2009

Lot size

0.35 lot acres

Property type

Apartment buildings

Description

This exceptional investment opportunity presents two three-story Class A condo hotel buildings situated on a 0.348-acre lot at 4400 and 4420 Bonita Beachwalk Dr, Bonita Springs, FL 34134, in Lee County. The property boasts 26 units, each meticulously designed. Twenty-six units are configured as two-bedroom, two-bath suites, complemented by an additional 26 one-bedroom units with en-suite bathrooms, offering versatile rental options. Six units are fully furnished and turnkey ready for seasonal rentals, while four others include basic furnishings. The buildings, constructed between 2009 and 2012, feature modern amenities including coffered ceilings, granite countertops in kitchens and bathrooms, and all-tile flooring. Each building includes an elevator and a rooftop sun deck. First-floor units offer private lanais, while upper-floor units feature expansive summer kitchens. Parking is abundant with 25 garages (17 attached and 8 detached) plus an additional 31 parking spaces. The property allows for short-term rentals (one week minimum). The permitted zoning is PUD. The total square footage is 41,608, with a net rentable area of 41,608 square feet. The asking price is $9,400,000, representing a price per unit of $361,538.46 and a price per square foot of $225.92. The pro-forma NOI is $2,323,200, resulting in a pro-forma cap rate of 9.00%. Seller financing is available with a 4.5% interest rate, 30-year amortization, a 5-year balloon payment, and a $500,000 prepayment penalty. The property is located just one mile from the beach and offers potential for adding a pool. This is a value-add investment opportunity with significant upside potential.

Location Insight

City

Bonita Springs

County

Lee

State

Florida

Longitude

-81.8245

Latitude

26.3313