Fountain Cottages Inn — Sale in Fort Myers, FL

  • Price: Contact for price
  • Listing type: For sale
  • Asset type: Multifamily Property
  • Location: Fort Myers, FL 33908

Investment Figures

Cap rate
7.26%

Derived from the asking price and operating figures published for this listing. Informational only — not an appraisal, valuation or financial advice. Verify independently before relying on any figure.

Description

Marcus & Millichap is pleased to present Fountain Cottages, a boutique hospitality and multifamily asset located at 14621 McGregor Boulevard in Fort Myers, Florida. The property consists of 18 units across seven cottage-style buildings, featuring a unit mix of 10 one-bedroom/one-bathroom units and 8 studio units. The campus-style layout provides a private, residential atmosphere with each unit offering a standalone cottage feel uncommon among traditional multifamily or hospitality properties. The property has recently undergone extensive renovations in 2024–2025, with over $200,000 invested into the units. Improvements include all new kitchens with plastic cabinetry designed to withstand potential flood exposure, new appliances, new furnishings, fresh interior paint, and upgraded finishes throughout. Exterior improvements include new paint and updated landscaping completed in 2025, enhancing curb appeal and overall presentation. Additional improvements include flood barrier systems for each unit, which can be installed in advance of major storm events to help mitigate potential water intrusion. Amenities include an on-site swimming pool, dedicated washer and dryer room, and ample parking throughout the property. Fountain Cottages operates with a hybrid model allowing both annual and short-term tenancy, offering flexibility for investors to maximize revenue based on market demand. The property is zoned RM-2, allowing hotel and motel operations, and prior planning work has indicated the potential to convert the property into approximately 13 traditional multifamily units if desired. The asset is located along McGregor Boulevard, one of Fort Myers’ most prominent corridors, providing access to major coastal and employment destinations. Nearby demand drivers include Gulf Harbour Yacht & Country Club (approximately 1 mile), Fort Myers Beach (approximately 5.5 miles), and Downtown Fort Myers (approximately 9 miles). The surrounding area includes several country clubs and

Market Context

This multifamily in Fort Myers, FL is listed for sale. It is offered at an approximate 7.3% capitalization rate, a key benchmark for income-producing multifamily assets. It has been on the market for 99 days. Compare it against other multifamily listings for sale in Fort Myers, FL — view the full market.

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