Residential Land for Sale in Fort Myers, Florida

Introducing Princeton Development, a rare opportunity to acquire a premier

residential site in stunning Southwest Florida. This exclusive listing offers 3.4

acres of prime land, pre-approved for 72 multifamily units, or can pursue up to

174 single-bed units with a design change. Strategically situated in central Fort

Myers, the property enjoys proximity to key demand drivers and high-traffic areas,

making it an ideal location for a top-notch multifamily project. With its

exceptional potential for growth and returns, this development is lucrative

opportunity for savvy investors seeking to capitalize on the thriving Southwest

Florida market. Princeton Development is a proposed modern, three-story multifamily project

comprised of 72-units. The design resembles stacked townhomes where

two-story units are 'stacked' on top of a ground-floor unit. The proposed design

comprises 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 feature

highlight is private exterior front entrances with no shared lobbies or common

corridors, giving residents more separation than condos. Catering to the

entry-level market, this no-frills complex offers a combination of modernity and

simplicity, urging residents to venture into the town to enjoy all the nearby

conveniences. Princeton Development has had an extensive design review. Once the architect is

re-engaged to complete the building design, anticipation is a 5-6 month timeline

from bldg. permit; a design update to the 2023 building code for drawings is

required. Expected turnaround for the redesign is 2 months followed by 4 months

for permit approval. Initial city comments have already been received to help stay

on track for permitting. Civil permit is approved and just pending issuance to help

break ground prior to receiving the bldg. permit. Also, with a lead time of 3

months for storm structures, having the civil permit ready will help with the

construction schedule. FPL design is complete and awaiting release. This will also

help with the construction schedule due to the long lead time for transformers.

Princeton Development is a financial opportunity that could significantly enhance

the market value of the surrounding area while also providing numerous benefits

to the community, making it a valuable addition to the neighborhood. This parcel is NOT located in a FEMA designated flood zone.