Strategically located on Main Street, this waterfront property offers all the beauty and water access of Fort Myers Beach. The zoning and development oversight is through unincorporated Lee County. The potential includes positive density and greater height for buildings to maximize water views and to better ensure project profitability.
The Fort Myers Beach area is on the road to significant revitalization. This property maximizes all the benefits of a waterfront location without the traffic or redevelopment uncertainty. The docks have all been recently rebuilt. There are several waterfront restaurants within view that are only a couple minutes on foot or by boat.
The property is currently zoned Light Industrial (IL) but also allows for some living units on this property as well. The future land use is Industrial. However, based on current uses, and the need for development on and near Fort Myers Beach, it is believed that Lee County is open to additional uses. We recommend that all plans should be verified independently with Lee County.
ALL PROPERTIES ARE BEING SOLD “AS IS”
Offer included 1120, 1122, 1130, and 1138 Main Street as a portfolio.
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William Raveis Mortgage, LLC
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Melissa.Cohn@raveis.com
NMLS Mortgage Loan Originator ID 16953
5/6 (30 Yr) Adjustable Rate Jumbo* |
30 Year Fixed-Rate Jumbo |
15 Year Fixed-Rate Jumbo |
|
---|---|---|---|
Loan Amount | $6,220,000 | $6,220,000 | $6,220,000 |
Term | 360 months | 360 months | 180 months |
Initial Interest Rate** | 6.625% | 6.750% | 6.625% |
Interest Rate based on Index + Margin | 8.125% | ||
Annual Percentage Rate | 7.282% | 6.864% | 6.810% |
Monthly Tax Payment | $515 | $515 | $515 |
H/O Insurance Payment | $125 | $125 | $125 |
Initial Principal & Interest Pmt | $39,827 | $40,343 | $54,611 |
Total Monthly Payment | $40,467 | $40,983 | $55,251 |
* The Initial Interest Rate and Initial Principal & Interest Payment are fixed for the first and adjust every six months thereafter for the remainder of the loan term. The Interest Rate and annual percentage rate may increase after consummation. The Index for this product is the SOFR. The margin for this adjustable rate mortgage may vary with your unique credit history, and terms of your loan.
** Mortgage Rates are subject to change, loan amount and product restrictions and may not be available for your specific transaction at commitment or closing. Rates, and the margin for adjustable rate mortgages [if applicable], are subject to change without prior notice.
The rates and Annual Percentage Rate (APR) cited above may be only samples for the purpose of calculating payments and are based upon the following assumptions: minimum credit score of 740, 20% down payment (e.g. $20,000 down on a $100,000 purchase price), $1,950 in finance charges, and 30 days prepaid interest, 1 point, 30 day rate lock. The rates and APR will vary depending upon your unique credit history and the terms of your loan, e.g. the actual down payment percentages, points and fees for your transaction. Property taxes and homeowner's insurance are estimates and subject to change.