14621 McGregor Blvd, Fort Myers, FL 33908

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Building Details:

• Year Built: 1961

14621 McGregor Blvd is amulti-family property located in Fort Myers, FL. The property currently has 1 multi-family space for lease and is marketed by .

The Fountain Cottages is located 25 miles north of Naples and 65 miles south of Sarasota in Southwest Florida. The Caloosahatchee River runs in between Fort Myers to the east and Cape Coral to the west. World Famous Fort Myers Beach is 5.5 miles to the south. The Fort Myers area boasts unlimited coastline and public beaches that include National Wildlife Sanctuaries and numerous State Parks including but not limited to Sanibel Island, Estero Bay, Lovers Key, and Captiva Island. Fountain Cottages is centrally located to all of the pristine waters and natural coasts that Southwest Florida is famous for.

Visitors to the Fort Myers area spent $3,729,946,900 on accommodations, restaurants, groceries, transportation, attractions, entertainment and shopping. An overall increase of 41.7% from the prior year. Total economic impact of this activity resulted in $5,945,535,400 which represented an increase of 39.1% year over year. There were 6,394,800 rooms sold and 4,687,500 visitors during the time of the data collected for the year 2021 of which the expectation is that there will be a significant increase for this year. This supported 69,174 local jobs resulting in $1,844,217,000 in wages and salaries for area workers.

The Fort Myers area enjoyed a high occupancy rate of 69.5% with an Average Daily Rate of $158.51 which is up 9.5% from the prior year with no signs of slowing down in a post pandemic economy where people want to get away to a business friendly state. With 49% of visitors using some version of online booking service, Fountain Cottages is well positioned to continue its upward trend in record room rates and longer term stays in one of the hottest real estate markets the country has. Visitors to the area had a median household income of $105,950 and half of them traveled as a family unit. Per the data, 30% of the accommodations sold were specifically related to properties such as the Fountain Cottages with an average of 6.9 nights spent in the local economy.

Fountain Cottages is prime real estate in an ever growing market that has attracted Margaritaville to Fort Myers Beach. This acquisition is a rare opportunity for the investor looking for exposure in Southwest Florida that will pay dividends well into the future.

• Available Spaces

Suite	Space Type	Pricing	Size
---	Multi-Family Space	For lease: Negotiable
The Fountain Cottages Inn is a wonderful opportunity to acquire a very recognizable local landmark that enjoys highly limited area competition. It is the perfect location to house traveling local family members, vacationers, or continue the conversion to a traditional multifamily asset. Situated on a large land parcel in a high demographic area in Fort Myers, Florida, the Fountain Cottages has seven total buildings. This spread out design featuring multiple buildings is highly desirable as each unit maintains wonderful privacy for the occupying tenants. The property is a true extended stay with well appointed furnishings for the traveler looking for more than a nights stay. There have been significant upgrades made to the Fountain Cottages in recent years. Extensive work has been completed to renovate interior units including new kitchens, new baths, and new flooring in many of the units. The exterior has been completely redesigned with an abundance of high end paver work, landscaping redesigns, new entrances and a paint scheme that brings to life a true tropical paradise. The property features on site management, ample laundry facilities, a swimming pool and extensive parking capabilities. The Fountain Cottages has the opportunity to transition to multifamily and current ownership has completed exploratory work that would allow a a conversion to thirteen total units. Given the nature of the asset being Cottages, the desirability of units with a single family home type of appeal will provide a high ceiling for rents as compared to other properties in the area. There is limited competition for multifamily in the area including zero other multifamily assets of this kind in a one mile radius. Fort Myers, Florida is a growth market that is well positioned to thrive for decades to come as the area continues to see significant capital flow due to it's proximity to beaches that are consistently ranked as some of the best in the country with global recognition. Area employment drivers include extensive healthcare systems, hospitality, educational systems, various corporate headquarters, retail services, construction, in addition to higher learning college and universities for the 87,103 residents. This represents a 39% population increase from the 2010 census in Fort Myers, Florida.  « show less The Fountain Cottages Inn is a wonderful opportunity to acquire a very recognizable local landmark that enjoys highly limited area competition....  show more » View Details The Fountain Cottages Inn is a wonderful opportunity to acquire a very recognizable local landmark that enjoys highly limited area competition. It is the perfect location to house traveling local family members, vacationers, or continue the conversion to a traditional multifamily asset. Situated on a large land parcel in a high demographic area in Fort Myers, Florida, the Fountain Cottages has seven total buildings. This spread out design featuring multiple buildings is highly desirable as each unit maintains wonderful privacy for the occupying tenants. The property is a true extended stay with well appointed furnishings for the traveler looking for more than a nights stay. There have been significant upgrades made to the Fountain Cottages in recent years. Extensive work has been completed to renovate interior units including new kitchens, new baths, and new flooring in many of the units. The exterior has been completely redesigned with an abundance of high end paver work, landscaping redesigns, new entrances and a paint scheme that brings to life a true tropical paradise. The property features on site management, ample laundry facilities, a swimming pool and extensive parking capabilities. The Fountain Cottages has the opportunity to transition to multifamily and current ownership has completed exploratory work that would allow a a conversion to thirteen total units. Given the nature of the asset being Cottages, the desirability of units with a single family home type of appeal will provide a high ceiling for rents as compared to other properties in the area. There is limited competition for multifamily in the area including zero other multifamily assets of this kind in a one mile radius. Fort Myers, Florida is a growth market that is well positioned to thrive for decades to come as the area continues to see significant capital flow due to it's proximity to beaches that are consistently ranked as some of the best in the country with global recognition. Area employment drivers include extensive healthcare systems, hospitality, educational systems, various corporate headquarters, retail services, construction, in addition to higher learning college and universities for the 87,103 residents. This represents a 39% population increase from the 2010 census in Fort Myers, Florida. Pricing: Negotiable Availability: Now Listing ID: 3237310 Save to list