100411 . 63 Home BFR Fort Myers FL
100411 . 63 Home BFR Fort Myers FL, Fort Myers, Florida 33908
The Villas at Oasis Key is a proposed BFR community tucked away in a highly desirable area of Fort Myers, Florida. Only 7 miles from the beautiful Fort Myers Beach and barrier islands, as well as only a short drive to downtown Fort Myers, these homes will have no problem staying fully leased with high-quality residents.
The site is designed to be home to 63 detached single-family residences, with a mix of 3 different floor plans optimized to achieve the highest rents. Among those are a 3 bedroom plan of 1,531 square feet and 4 bedroom plans of 1,812 to 2,062 square feet. Being in a high demand area, there are many solid comps in the area to support the community’s high rents of $2,300 to $3,100 per door. Homes are planned to begin construction in 2020 and deliver the last tranche of built homes in Q3 of 2021. An investor has the opportunity to come in simply as the take-out buyer or be involved in the beginning stages in order to put their influence on the project's unit mix and finish levels. Additionally, the builder has the structure and experience to scale if the buyer is looking to utilize a pipeline to grow their portfolio.
According to John Burns Real Estate Consulting, just north of the site in Charlotte county is experiencing high demand for housing with increasingly positive demographic trends, in a metro with very little supply. The county is projected to see demand for 4,475 rental units over the next 5 years, says JBREC.
Fort Myers is the county seat and commercial center of Lee County in Florida. As of July 2018, the area had an estimated population of 82,254, a 32% increase since 2010. The area is home to multiple universities, one of them, Florida Gulf Coast University, has over 12,000 students. It is no surprise that 27.09% of adults in the Fort Myers area have at least a bachelor’s degree. There is a variety of professions that the residents of Fort Myers have, sales jobs (14.46%), office and administrative support (11.44%), and management occupations (9.50%).
The median household income in Fort Myers is $41,591. In total, the revenues for the city totaled $6.34 million in March 2019. The major employers in the area include the HealthPark Medical Complexes (2,600 providers), HealthPark Care and Rehab Center, and Golisano Children’s Hospital (500 providers).
Healthcare isn’t the only driving economic force in the area. New construction of real estate can be an indicator for the local economy burst, new jobs attracting an influx of new residents. Tourism is another large economic force, bringing in new projects and thousands of jobs. One of the most recent projects is the construction of Luminary Hotel with a grand opening in early 2020, this $92 million project is expected to draw large groups to the region. Tourism has brought it an 11% increase in airport passenger activity from March 2018 to March 2019 and a 2% increase in taxable sales for February 2019 compared to February 2018.
- For more info visit www.SFRhub.com and search for portfolio 100411!
- Offering comprises an entire purpose-built BFR community with optimized floorplans to maximize net operating agreement
- Community and finishes can be further optimized by a buyer
- Agency permanent financing potentially available
- Centrally located site, only 7 miles from Fort Myers Beach and 30 minutes from downtown
- High projected monthly rents ranging from $2,300 to $3,100 a home
- Area’s rapidly increasing population creates projected demand for 4,475 rental units over the next 5 years
- Opportunity for Buyer to scale with the project’s highly-capable builder
- Builder operates in a large area of Western Florida to allow programmatic capital deployment by an investor
1/14/2020 5:34:51 PM
1/20/2020 7:13:48 PM