4018-4036 Princeton Street, Fort Myers, FL 33901
For Sale $3,850,000
Property Details
Price: $3,850,000
City:Fort Myers
County:Lee
Type:Residential
Development:Fort Myers
Subdivision:Fort Myers
Acres:3.47
Listing Number:224099852
Status Code:A-Active
Taxes:$6,128.68
Tax Year: 2024
Garage:
N
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Amenities:
See Remarks
Financial Information:
Taxes: $6,128.68
Tax Year: 2024
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Introducing Princeton Development, a rare opportunity to acquire a premierresidential site in stunning Southwest Florida. This exclusive listing offers 3.4acres of prime land, pre-approved for 72 multifamily units, or can pursue up to174 single-bed units with a design change. Strategically situated in central FortMyers, the property enjoys proximity to key demand drivers and high-traffic areas,making it an ideal location for a top-notch multifamily project. With itsexceptional potential for growth and returns, this development is lucrativeopportunity for savvy investors seeking to capitalize on the thriving SouthwestFlorida market. Princeton Development is a proposed modern, three-story multifamily projectcomprised of 72-units. The design resembles stacked townhomes wheretwo-story units are ‘stacked’ on top of a ground-floor unit. The proposed designcomprises 4 buildings, each with a collection of 18 units with a combination of 2& 3-bedroom layouts ranging from 960sq.ft. A/C to 1130 sq. ft. A/C. A featurehighlight is private exterior front entrances with no shared lobbies or commoncorridors, giving residents more separation than condos. Catering to theentry-level market, this no-frills complex offers a combination of modernity andsimplicity, urging residents to venture into the town to enjoy all the nearbyconveniences. Princeton Development has had an extensive design review. Once the architect isre-engaged to complete the building design, anticipation is a 5–6 month timelinefrom bldg. permit; a design update to the 2023 building code for drawings isrequired. Expected turnaround for the redesign is 2 months followed by 4 monthsfor permit approval. Initial city comments have already been received to help stayon track for permitting. Civil permit is approved and just pending issuance to helpbreak ground prior to receiving the bldg. permit. Also, with a lead time of 3months for storm structures, having the civil permit ready will help with theconstruction schedule. FPL design is complete and awaiting release. This will alsohelp with the construction schedule due to the long lead time for transformers.Princeton Development is a financial opportunity that could significantly enhancethe market value of the surrounding area while also providing numerous benefitsto the community, making it a valuable addition to the neighborhood. This parcel is NOT located in a FEMA designated flood zone.
MLS Area: Fm02 - Fort Myers Area
Water: Public
Date Listed: 2024-12-11 13:42:18
Pool: N
Private Spa: N
Garage Description: N
Garage Spaces: 0
Attached Garage: N
Fireplace: N
Irrigation: None
55+ Community: N
Sewer: Public Sewer
Lot Desc.: Cul De Sac
Amenities: See Remarks
Listing Courtesy Of: Downing Frye Realty Inc.
jesscatana@gmail.com
Introducing Princeton Development, a rare opportunity to acquire a premierresidential site in stunning Southwest Florida. This exclusive listing offers 3.4acres of prime land, pre-approved for 72 multifamily units, or can pursue up to174 single-bed units with a design change. Strategically situated in central FortMyers, the property enjoys proximity to key demand drivers and high-traffic areas,making it an ideal location for a top-notch multifamily project. With itsexceptional potential for growth and returns, this development is lucrativeopportunity for savvy investors seeking to capitalize on the thriving SouthwestFlorida market. Princeton Development is a proposed modern, three-story multifamily projectcomprised of 72-units. The design resembles stacked townhomes wheretwo-story units are ‘stacked’ on top of a ground-floor unit. The proposed designcomprises 4 buildings, each with a collection of 18 units with a combination of 2& 3-bedroom layouts ranging from 960sq.ft. A/C to 1130 sq. ft. A/C. A featurehighlight is private exterior front entrances with no shared lobbies or commoncorridors, giving residents more separation than condos. Catering to theentry-level market, this no-frills complex offers a combination of modernity andsimplicity, urging residents to venture into the town to enjoy all the nearbyconveniences. Princeton Development has had an extensive design review. Once the architect isre-engaged to complete the building design, anticipation is a 5–6 month timelinefrom bldg. permit; a design update to the 2023 building code for drawings isrequired. Expected turnaround for the redesign is 2 months followed by 4 monthsfor permit approval. Initial city comments have already been received to help stayon track for permitting. Civil permit is approved and just pending issuance to helpbreak ground prior to receiving the bldg. permit. Also, with a lead time of 3months for storm structures, having the civil permit ready will help with theconstruction schedule. FPL design is complete and awaiting release. This will alsohelp with the construction schedule due to the long lead time for transformers.Princeton Development is a financial opportunity that could significantly enhancethe market value of the surrounding area while also providing numerous benefitsto the community, making it a valuable addition to the neighborhood. This parcel is NOT located in a FEMA designated flood zone.
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Additional Information:
MLS Area: Fm02 - Fort Myers Area
Water: Public
Date Listed: 2024-12-11 13:42:18
Pool: N
Private Spa: N
Garage Description: N
Garage Spaces: 0
Attached Garage: N
Fireplace: N
Irrigation: None
55+ Community: N
Sewer: Public Sewer
Lot Desc.: Cul De Sac
Amenities: See Remarks
Map of 4018-4036 Princeton Street, Fort Myers, FL 33901
Listing Courtesy Of: Downing Frye Realty Inc.
jesscatana@gmail.com