$6,420,000
Off-Market Date: 04/12/2026541 Prospect Avenue Fort Myers, FL 33905
Pending MLS# 2026014902
Multi-family
Details for 541 Prospect Avenue
MLS# 2026014902
Description for 541 Prospect Avenue, Fort Myers, FL, 33905
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.
Listing Information
Property Type: Commercial, Multi Family, Low Rise
Status: Pending-See Remarks
Lot Size: 3.66 Acres
Year Built: 1983
Stories: 1 Story
Current Use: Multi-Family
County: Lee
Days On Market: 14
Utilities
Other Utilities: Electricity Available,Other,Sewer Available,Water Available
Driving Directions
Use GPS; Property fronts both Prospect Ave and Wood Ave south of Palm Beach Blvd (Hwy 80).
Financial Considerations
Tax/Property ID: 09-44-25-08-0000A.0170
Tax Amount: 42779
Tax Year: 2025
A broker reciprocity listing courtesy: Premier Agent Network
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Sales History & Tax Summary for 541 Prospect Avenue
Sales History
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Tax Summary
| Tax Year | Estimated Market Value | Total Tax |
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Data powered by ATTOM Data Solutions. Copyright© 2026. Information deemed reliable but not guaranteed.
Schools
Schools nearby 541 Prospect Avenue
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Data powered by ATTOM Data Solutions. Copyright© 2026. Information deemed reliable but not guaranteed.
The schools shown represent both the assigned schools and schools by distance based on local school and district attendance boundaries. Attendance boundaries change based on various factors and proximity does not guarantee enrollment eligibility. Please consult your real estate agent and/or the school district to confirm the schools this property is zoned to attend. Information is deemed reliable but not guaranteed.
SchoolDigger ® Rating
The SchoolDigger rating system is a 1-5 scale with 5 as the highest rating. SchoolDigger ranks schools based on test scores supplied by each state's Department of Education. They calculate an average standard score by normalizing and averaging each school's test scores across all tests and grades.
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