USAFLFort Myers541 Prospect Ave
541 Prospect Ave | Image 1
New
541 Prospect Ave | Image 2

$6,420,000

For Sale

A day ago

541 Prospect Ave, Fort Myers, FL

MLS® 2026014902

0 Bed

0 Bath

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  • Key Facts
  • Description
  • Map

Key Facts

Type Other
Levels Commercial Sale
Size -
Garage No
HOA Fees 
Taxes $42,779
Days Active 1
Approx. Age 1983
MLS® Number 2026014902

Property Address: 541 Prospect Ave, Fort Myers, FL, 33905-3563

Average square foot calculated using Size range provided by listing agent.

Description

Prospect & Wood is a stabilized, income-producing 46-unit multifamily property comprising 23 duplexes, each configured as 2 Bedroom / 1 Bath. Built in 1983 and maintained under long-term ownership, the asset offers a current annual gross rental projection of $565, 800. At the offered price of $6, 420, 000, the investment delivers a 5.29% capitalization rate (based on a 40% expense ratio) and $139, 565 per door — a competitive entry point in the Fort Myers multifamily market. 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%. Prospect & Wood is offered as a standalone asset, 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.
MLS® Number2026014902
Locker
Ensuite LaundryNo
Balcony
Furnished
Laundry Level
Exposure
Exterior
GarageNo
Approx. Age1983
Stories1
Pets

Included in Maintenance Fee

Heat
Hydro
Water
Building Insurance
Condo Taxes
Cable TV
Central Air
Parking Maintenance

Utilities

Heat
A/C
Heating Fuel

Extras

Building And Land

Price History

-End Date
Not Sold YetSold Price

For Sale

Mar 29, 2026List Date
$6,420,000List Price
  • Commute

Commute

Starting Address
Destination Address
541 Prospect Ave, Fort Myers, FL

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