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$6,420,000

  • For Sale
  • Active
  • Commercial Residential Facility
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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.

Full Property Details for 541 Prospect Ave

General

  • Price: $6,420,000
  • Taxes: $42,779 (2025)
  • Status: Active
  • Type: Commercial Residential Facility
  • Source: Bonita_Springs
  • MLS ID: 2026014902
  • Updated: 3/29/2026
  • Added to Site: 7 day(s) ago

Business

  • Business Type: Commercial Only

Parking

  • Total Spaces: 46

Location

  • Area: FE02 - East Fort Myers Area
  • County: Lee
  • Driving Directions: Use GPS; Property fronts both Prospect Ave and Wood Ave south of Palm Beach Blvd (Hwy 80).

Heating & Cooling

  • Air Conditioning: Yes

Utilities

  • Utility Description: Electricity Available, Other, Sewer Available, Water Available

Structural Information

  • Description/Design: Multi-Family: Low Rise (1-3 Floors), Multi-Family: 5+ Units
  • Stories/Levels: 1
  • Stories in Building: 1
  • Current Bldg. Use: Investment
  • Year Built: 1983

Lot Features

  • Lot Size (Acres): 3.66
  • Lot Size (Sq. Ft.): 159,429
  • Lot Size Source: Property Appraiser Office
  • Frontage Feet: 1146

Water Features

  • Water Front Desc.: None
  • Canal Width: None

Financial Considerations

  • Price Per Acre: $178
  • Assoc Fee Freq.: Annually
  • Tax Amount: $42,779
  • Tax Year: 2025

Disclosures and Reports

  • Inclusions: Building And Land
  • Property ID: 09-44-25-08-0000A.0170

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— 541 Prospect Ave —

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NMLS#: 1598647

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Be ready to buy your new home!

with our affiliated lender
NMLS#: 1598647

Get Pre-Approved

Schools serving 541 Prospect Ave

School District:Lee County School District, Fort Myers, FL
NameGradesDistance
Tice Elementary School
4524 Tice St, Fort Myers, FL 33905
K-50.3 mi
James Stephens International Academy
1333 Marsh Avenue, Fort Myers, FL 33905
K-50.9 mi
Orange River Elementary School
4501 Underwood Drive, Fort Myers, FL 33905
K-51.3 mi
Oak Hammock Middle School
5321 Tice Street, Fort Myers, FL 33905
6-82.2 mi
Varsity Lakes Middle School
801 Gunnery Road North, Lehigh Acres, FL 33971
6-86.9 mi
Harns Marsh Middle School
1820 Unice Ave N, Lehigh Acres, FL 33971
6-88.3 mi
Riverdale High School
2600 Buckingham Road, Fort Myers, FL 33905
9-126.7 mi
Lehigh Senior High School
901 Gunnery Road North, Lehigh Acres, FL 33971
9-127.1 mi
Gateway High School-0842
901 Gunnery Road North, Lehigh Acres, FL 33971
9-127.1 mi
Disclaimer: School attendance boundaries provided by ATTOM Data Solutions and are for reference only. Contact the school directly to verify enrollment eligibility.

Price & Sales History for 541 Prospect Ave Get Price Alerts and Save Property

Date
Details
Price
Change
Source
3/29/2026
Listed
$6,420,000
505.66%
MLS
6/22/2000
Sold
$1,060,000
—
Public Record
Get Price Alerts and Save Property
Disclaimer: Historical sales information is derived from public records provided by the county offices. Information is not guaranteed and should be independently verified.

Tax History for 541 Prospect Ave

Year
Property Taxes
Change
Tax Assessment
Change
2025
$41,933
5%
$5,164,742
6%
2024
$39,791
-5%
$4,880,899
-8%
2023
$41,673
38%
$5,316,749
61%
2021
$30,217
-13%
$3,295,992
-20%
2022
$34,668
15%
$4,133,100
39%
2021
$30,217
38%
$2,963,987
270%
2018
$21,915
-3%
$800,778
-64%
2017
$22,585
—
$2,214,845
-1%
2016
$22,572
-12%
$2,227,131
153%
2019
$25,690
112%
$880,856
6%
2015
$12,113
6%
$832,624
—
2014
$11,481
16%
$830,924
26%
2013
$9,873
—
$658,702
—
View All
Disclaimer: Historical tax information is derived from public records provided by the county offices. Information is not guaranteed and should be independently verified.

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541 Prospect Ave, Fort Myers, FL 33905 (MLS# 2026014902) is a Commercial Residential Facility property. 541 Prospect Ave is currently listed for $6,420,000 and was received on March 29, 2026. Want to learn more about 541 Prospect Ave? Do you have questions about finding other Commercial Residential Facility real estate for sale in Fort Myers? You can browse all Fort Myers real estate or contact a Coldwell Banker agent to request more information.

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