Multi-Family Space For Lease @ 14621 Mcgregor Blvd

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. This space offers accomodations for: lowrisegarden.