Pine Key Resort

Pine Key Resort

Price: $ Market Bid

Total Number of Units: 42

Address: 1095 Hancock Creek South Boulevard, Cape Coral, FL 33909, United States

  • Approximately $40,000/Unit of Development Costs Already In-Place
  • 42 Existing and 56 Fully Approved and Entitled Developable Condominium Grade Class-A Units
  • Implement Strategic Remodeling of the Existing 42 Units (12% Rent Increase)
  • Recapture 6.38% In-Place Loss-to-Lease Resulting in a $40,200 Addition to Revenue
  • Ability to Realize a Stabilized All-In Cap Rate Above of 8% and a Year Five IRR Above 40%
  • Realize a Post Development NOI Increase of 223%

Lead Agent(s): Benjamin N. Skinner

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Location Highlights

  • Situated Directly Between the Lee County VA Healthcare Center and Lee Memorial Hospital (1,500+ Employees)
  • Well-Positioned Just Nine Minutes North of the Expanding Downtown Fort Myers Job Market
  • Just Five Minutes East of U.S. 41 Providing a Direct Commute North to Tampa and South to Naples
  • Located at the Heart of the Nation’s 4th Fastest Growing Job Market Between 2012 and 2017
  • 2017 Cape Coral Housing Development Study Found the City Needs 1,490 New Unit Per Year by 2019 To Meet Current Demand

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