NAPLES, Fla., March 6, 2025 -- JBM® Institutional Multifamily Advisors has exclusively listed the Venetian – a Class A trophy asset, two & three-story garden product with brand new barrel tile roofs in Fort Myers, FL. The 2018-built Property is comprised of 436 units averaging 928 square feet and is located on 23.44 acres +/-.
Unique deal highlights include stellar assumable debt with ~72% LTV, 8.5 years remaining, 5.16% interest rate, and full-term I/O as well as an in-place, SB102 ("Live Local") tax abatement for 85 units. These Live Local units receive a 75% abatement to their ad valorem taxes.
A Call For Offers Date is set for Thursday, March 13th, 2025.
Product
Venetian features a luxury amenity package, including a resort-style, lakeside pool, hot tub, expansive pool deck with numerous lounging options and shaded daybeds. The Property's grand clubhouse showcases a community lounge, fireplace, game room, business center and coffee station. Other notable amenities include a waterfront gazebo with grilling stations, two 24/7 fitness centers, a large fenced-in dog park, pet spa, and detached garages available for rent. The Property received brand new barrel tile roofs in 2024.
Units
The Property consists of a diverse mix of one, two, and three-bedroom units. These unit interiors feature open-concept floorplans with kitchens including stainless steel appliances, kitchen islands, designer pendant lighting, and granite countertops, modern two-tone custom cabinetry, luxury faux wood plank flooring, and in-unit washers and dryers.
Location
Venetian has tremendous connectivity located on Winkler Avenue which intersects Colonial Blvd & Veronica S Shoemaker Blvd. The Property is located less than 2 miles from The Forum – a retail power center anchored by Target, Home Depot, Petco, and Ross. Lee Health's brand new, $434 million hospital, featuring 416K sqft, 168 beds, 16 operating rooms, and 30 emergency room bays will be less than half a mile from the Property.
About JBM®
JBM® holds a 70%+ market share across Southwest Florida and is the #1 ranked boutique brokerage firm in the U.S.A. Green Street's 2024 national multifamily broker rankings rank JBM® as the #1 highest average sold price per transaction throughout the entire U.S.A. (for the 4th year in a row). JBM® has a lifetime transactions volume of $20+ billion and 172,000+ units.
This News is brought to you by Qube Mark, your trusted source for the latest updates and insights in marketing technology. Stay tuned for more groundbreaking innovations in the world of technology.
