Hilco Real Estate has cut the price of a multifamily development site in North Fort Myers, Fla., in an effort to draw in more bidders for the 100-plus acre site.
The property is now being offered at $4,995,000, with a value of $9,080 per approved unit. The property is shovel-ready, according to Hilco Real Estate, and is approved for 550 multifamily units. The 25-building development is located on Del Prado Boulevard, not far from The Shoppes of Del Prado.
The Fort Myers area has a growth rate that's among the fastest in the United States. Multifamily homes are in demand with the growing population and employment rates in Fort Myers.
“Rarely is a fully entitled multifamily development site like this available at such an attractive price,” Jeff Azuse, senior vice president for Hilco Real Estate, said in a prepared statement. “The Fort Myers and North Fort Myers markets are experiencing positive growth, and the demand for residences should continue to grow into the near future. The prime location gives future residents easy access to shopping, golf courses and all the amenities that south Florida offers.”
For more information on the property, visit its listing the Hilco Real Estate website or call 855-755-2300.