FRANKIE COURT APARTMENTS

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SP Multifamily Group of Marcus & Millichap is pleased to present qualified investors with the opportunity to acquire Frankie Court Apartments, a 17-unit multifamily property located in North Ft. Myers, FL. The property was built in 1978 and 1981, has a unit mix consisting of thirteen 2x1.5 townhomes, two 2x2 flats, and two 2x1 flats, and is located within a ten-minute drive time radius of three major hospitals (3,000+ employees) and Downtown Fort Myers which is home to over 225 businesses.

Property tours are by appointment only. Please contact one of the listing brokers below to schedule tours.

17
UNITS

15,985
RENTABLE SQFT

940 SQFT
AVG. UNIT SIZE

1.90 +/-
ACRES

1978/81
YEAR BUILT

PRICED AT MARKET BID

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VITAL PROPERTY DATA

  • PROPERTY ADDRESS: 4495 Frankie Court, N. Ft. Myers, FL

  • PROPERTY COUNTY: Lee County

  • NUMBER OF UNITS: 17 Units

  • RENTABLE SQUARE FOOT: 15,985 SF

  • AVERAGE UNIT SIZE: 940 SF

  • NUMBER OF BUILDINGS: (6) Residential

  • PARKING SURFACE: Asphalt

  • LOT SIZE: 1.90 Acres +/-

  • FINANCING: Offered Free and Clear

RENOVATED ASSET WITHIN A GROWING MARKET

  • Rare Unit Mix Offering Some of the Only Two-Story Townhome Floorplans in the Cape Coral/North Ft. Myers Market

  • Well Maintained and Renovated Concrete Block Construction

  • All Roofs Were Replaced Between 2015 and 2018

  • In-Unit Laundry Connections and Appliances

  • Located Within the Fastest Growing U.S. City in 2020 (WalletHub)

  • Situated Between Three Major Hospitals (3,000+ Employees)

  • In-Place Average Effective Rents are 15% Below the Average of All Rent Comparables

  • Ability to Increase Net Operating Income by 15% Within the First Twelve to Fifteen Months Following Acquisition

CENTRALIZED LOCATION TO MAJOR EMPLOYMENT BASES

  • 1-Minute to Publix Supermarket and CVS Pharmacy

  • 3-Minutes to Cape Coral Hospital (1,200+ Employees)

  • 7-Minutes to the Lee County VA Health Center (400+ Employees)

  • 8-Minutes to Downtown Ft. Myers (225+ Businesses)

  • 9-Minutes to the Midtown Redevelopment Area

  • 10-Minutes to Lee Memorial Hospital (1,400+ Employees)

  • 12-Minutes to Edison Mall

  • 14-Minutes to Downtown Cape Coral

  • 15-Minutes to Page Field Airport (3,328 Employees)

  • 18-Minutes to Florida Southwestern State College (526 Full-Time Employees)

FT. MYERS/CAPE CORAL: AN EXPANDING ECONOMY

  • #1 Fastest Growing City in the County 2020 (The Mortgage Report)

  • #1 Fastest Growing Economy in the U.S. 2020 (WalletHub)

  • #8 Fastest Growing American City 2020 (USA Today)

  • #20 Hottest Real Estate Market 2020 (Quicken Loans)

  • 22% Population Growth (2010-2018)

  • 33% Employment Growth (2010-2018)

  • Ft. Myers/Cape Coral MSA Population of 754,610

DEAL TEAM CONTACTS

Benjamin Skinner
Associate Director | Senior Investment Associate
O. (407) 557-3889
Benjamin.Skinner@marcusmillichap.com

Matthew Prozzillo
Associate Director | Senior Investment Associate
O. (407) 557-3888
Matthew.Prozzillo@marcusmillichap.com

Jhamil Moore
Investment Associate
O. (407) 557-3830
Jhamil.Moore@marcusmillichap.com

Contact an Agent Listed Above to Schedule Property Tours

DEBT TEAM CONTACTS

Nicole Patel
Director - Mark One Capital
O. 972.755.5274
Nicole.Patel@markonecapital.com

Afshan Kabani
Associate Director - Mark One Capital
O. 972.755.5304
Afshan.Kabani@markonecapital.com