| Summary | National Percentile | Rank vs Metro |
|---|---|---|
| Housing | 54th | Fair |
| Demographics | 75th | Best |
| Amenities | 36th | Good |
Multifamily Valuation
| Property Details | |
|---|---|
| Address | 7541 Georgian Bay Cir, Fort Myers, FL, 33912, US |
| Region / Metro | Fort Myers |
| Year of Construction | 1987 |
| Units | 22 |
| Transaction Date | 2006-10-09 |
| Transaction Price | $22,000,000 |
| Buyer | NORTHERN FOREST AUDUBON COVE LLC |
| Seller | GEORGIAN BAY APARTMENTS LP |
7541 Georgian Bay Cir, Fort Myers Investment Opportunity
Steady renter demand is supported by an older-but-competitive 1987 vintage in a high-income suburban pocket of Fort Myers, according to WDSuite’s CRE market data.
This suburban neighborhood in Fort Myers carries a B+ rating and ranks 60th among 211 metro neighborhoods, indicating competitive positioning within the Cape Coral–Fort Myers area. Neighborhood-level occupancy is reported at approximately the mid‑80s with positive five‑year movement, pointing to reasonable leasing stability rather than reliance on rapid lease‑up conditions.
Local livability favors daily needs over dense urban amenities: grocery and park access track above national midpoints, while cafes and pharmacies are sparser. Median contract rents at the neighborhood level sit in the mid‑$1,200s, while 3‑mile data shows higher typical rents, suggesting a rent gradient that may reward well-executed renovations and positioning. Elevated home values at the neighborhood level indicate a high‑cost ownership market relative to incomes, which can sustain rental demand and support pricing discipline.
Within a 3‑mile radius, demographics reflect an older‑skewing but growing household base. Households increased by roughly the low‑teens over the last five years with forecasts calling for a significant rise in household count by 2028, even as average household size trends smaller. For investors, this points to a larger tenant base over time and more one‑ to two‑person households seeking professionally managed rentals. Median household income within 3 miles is strong and projected to increase further, which supports retention and measured rent growth management. Based on multifamily property research from WDSuite, the neighborhood’s renter concentration is relatively low within 3 miles (owner‑heavy), so assets often compete on quality, convenience, and professional management rather than pure price.
Vintage and positioning: Built in 1987 versus a neighborhood average around the early 1990s, the asset’s vintage is modestly older than local stock, implying potential capital planning for building systems and an opportunity for value‑add finishes to enhance competitiveness against newer supply.
Safety compares favorably on a national basis while remaining competitive within the metro. The neighborhood’s crime rank sits in the more favorable half of Cape Coral–Fort Myers (competitive among 211 neighborhoods), and national crime percentiles are in the upper third, indicating stronger safety than many neighborhoods nationwide. Property offense indicators have improved year over year, while violent offense benchmarks remain better than national midpoints. As always, investors should underwrite to submarket and property‑specific patterns and review recent trends during diligence.
Proximity to regional corporate employment provides a commuting base that can aid leasing stability, with travel sheds oriented to headquarters and office nodes. The employers below are representative of demand drivers accessible from the neighborhood.
- Hertz Global Holdings — corporate headquarters (8.3 miles) — HQ
The property’s 1987 construction offers a straightforward value‑add path in a neighborhood that is competitive within the Cape Coral–Fort Myers metro. Neighborhood occupancy has trended up over five years, and 3‑mile demographics point to population and household growth alongside rising incomes, supporting a larger tenant base and balanced pricing power. According to CRE market data from WDSuite, ownership costs in the surrounding area are elevated, which tends to reinforce reliance on professionally managed rentals and can support retention.
Risks to underwrite include an owner‑heavy housing mix within 3 miles that can constrain depth of the immediate renter pool, plus the need for capex to keep an older vintage competitive against newer supply. Executed thoughtfully, upgrades targeting durability and convenience can align the asset with income growth and projected household expansion.
- Competitive neighborhood standing in Cape Coral–Fort Myers with improving occupancy trends
- 3‑mile demographics show rising incomes and household growth, supporting renter demand
- 1987 vintage offers clear value‑add and capital planning opportunities
- High‑cost ownership context supports retention and measured pricing
- Risks: owner‑heavy tenure nearby and competition from newer product require disciplined renovations