Description

This property presents a unique opportunity to reposition an already approved multifamily site into a premium flex space development, aligned with current market demand in the Fort Myers area. Located along the highly desirable Kelly Road corridor in South Fort Myers, this ±4.6-acre site benefits from an approved Master Concept Plan (MCP) for 69 multifamily units, providing a strong entitlement foundation and reducing upfront development risk. While currently approved for multifamily, the property offers significant upside through repositioning into a flex space / light industrial ownership concept, which is increasingly in demand in the area. A conceptual layout supports approximately 50,000–55,000 SF of flex space, with small-bay units ideal for contractors, service-based businesses, storage users, and owner-operators. The site is situated in a well-established service corridor with a strong presence of contractors and local businesses, offering excellent access, visibility, and proximity to surrounding residential areas. The South Fort Myers submarket continues to show limited availability of modern flex space, with much of the existing inventory being older and not designed for ownership. This creates a clear opportunity to deliver a clean, modern, and premium flex product that outperforms existing supply. Conceptual development potential includes approximately 54,000 SF of buildable space, with target pricing in the range of $290–$320+ per SF and a potential gross sellout in the $15M–$17M range. Conceptual development strategy available upon request. Buyer is not limited to multifamily — repositioning to flex space may significantly enhance project returns while leveraging the existing site planning framework. This is a rare opportunity to acquire a well-located, partially entitled site with multiple development paths and strong upside potential. All development concepts are conceptual and subject to buyer verification, due diligence, and applicable approvals.

Provided by North and Vrillaud Realty Group