1342 Colonial Blvd Fort Myers 6 biens | Bureau | Fort Myers, FL

This 42,668 SF office and retail portfolio consists of three buildings owned outright and eleven additional office condominium units located within the same complex throughout three other buildings. The offering represents a rare value-add opportunity with current leases well below market rent and a defined lease-up strategy targeting $22.50 Modified Gross.
Additionally, the property includes an approximately ±1-acre (with infrastructure) portion that may offer future flexibility for potential subdivision, sale, or additional development, providing the opportunity to enhance income or reduce basis.

The portfolio represents approximately 80% ownership within the condominium association, creating a significant controlling interest within the complex.
Currently the property generates significant rental income, providing in-place cash flow while offering a clear lease-up opportunity as vacant suites are absorbed.
Lease-up assumptions are based on $22.50 PSF modified gross rents, which remain conservative relative to current market conditions. Over the past several months, new leases within the property have been secured at $22.50 PSF, further validating the achievable lease-up target.
Comparable nearby developments are delivering new space at approximately $30–$45 PSF, while stabilized occupancy costs in the surrounding market average approximately $27.00 PSF, highlighting potential rental growth over the next several years.
Office condominium sales within the immediate area are trading between approximately $220–$300 PSF, providing additional providing additional valuation support for the individual condominium units while further solidifying the tremendous value-add opportunity this investment presents..
At stabilization, the property supports projected pro-forma income of approximately $970,915 and Net Operating Income of approximately $691,777.