Is ONE Fort Myers a Good Investment?

For buyers who are planning a move to Southwest Florida, have flexibility in their capital timeline, and believe in the downtown Fort Myers growth story, ONE Fort Myers is one of the stronger preconstruction value plays in the region right now. Preconstruction pricing at $800 to $1,030 per square foot is well below comparable luxury waterfront product in Naples and Sarasota, and the 10/10/10/70 deposit structure means your full capital is not committed until 2027 delivery.

It is not the right fit for everyone. This is not a short-term rental property. Airbnb-style nightly rentals are not permitted. It is also not a traditional cash-flow investment. If you need immediate income or a quick exit, this is not the play. But for a buyer with a longer horizon who wants to own in a boutique riverfront building as Fort Myers continues to develop, the fundamentals are there.

What ONE Fort Myers Actually Is: A Downtown Fort Myers Preconstruction Overview

ONE is a 21-story boutique luxury condominium tower on the Caloosahatchee River in Downtown Fort Myers. There are 34 residential units total. That is it. No massive complex. No 300-unit high-rise where you are one of the crowd.

The building has five ONE Fort Myers floor plan options. Beach and Cascade units are 2-bedroom, 2.5-bath at 1,555 square feet. Aqua units are 3-bedroom, 3-bath at 2,281 to 2,286 square feet. The Wave Penthouse on the 19th floor runs 3,946 square feet. The Duplex Penthouse spans the 20th and 21st floors at 5,161 square feet.

Amenities include a rooftop pool, fitness center with Peloton, concierge and security, smart building technology, and an owner lounge on the ground floor. Delivery is targeted for end of 2027.

The Preconstruction Pricing Window at ONE Fort Myers

This is where the investment conversation starts.

Preconstruction pricing at ONE Fort Myers currently runs between roughly $800 and $1,030 per square foot, depending on the floor and unit type. Beach and Cascade units are priced from approximately $1.36 million on the lower floors up to around $1.6 million on the higher floors. Aqua units run from the low $1.6 millions up to around $2.4 million on the upper floors. The Wave Penthouse is priced near $4 million.

A significant number of units are already under contract, particularly on the lower and middle floors. The remaining availability is concentrated in the mid-to-upper range, where the views are better and the per-square-foot price reflects it.

Here is why the pricing matters from an investment standpoint: comparable luxury waterfront product in Naples is trading at $1,200 to $2,000 per square foot or more. Sarasota is in a similar range. Fort Myers has historically carried a discount to both markets, but that gap is closing as downtown development accelerates. Buying in at $800 to $1,000 per square foot in a building that delivers in 2027 is buying ahead of where the market is likely to price finished luxury riverfront product in this corridor.

That is not a guarantee. It is the thesis.

The Deposit Structure and Why It Matters

ONE Fort Myers uses a 10/10/10/70 deposit structure.

You put 10% down at contract. Another 10% at groundbreaking. Another 10% at a construction milestone. The remaining 70% is due at closing when you take possession in late 2027.

For an investor making a strategic financial decision, this structure has real advantages. You are committing a fraction of the total purchase price over an extended period while the building is being constructed. Your capital is not fully deployed until delivery. If the market moves up during construction, as it has historically done with luxury preconstruction in high-growth Florida markets, you benefit from that appreciation on the full purchase price while only having a partial amount at risk during the build period.

For an out-of-state buyer from a high-tax state who is already planning a Florida move or investment, this structure gives you time to position capital, liquidate other assets, or simply make the decision without the pressure of immediate full-commitment financing.

The Fort Myers Development Story: Why Location Matters for This Investment

The appreciation case for ONE Fort Myers is not just about the building. It is about what is happening around it.

Downtown Fort Myers real estate is in the middle of a generational transformation. Here is what is either under construction or in the pipeline within walking distance of ONE:

Every one of these projects adds to the density, the walkability score, the dining and entertainment options, and ultimately the desirability of the downtown corridor. When ONE Fort Myers delivers in late 2027, it will be delivering into a neighborhood that looks materially different and more developed than it does today.

That is the appreciation argument in one paragraph.

Rental Income Potential

ONE Fort Myers allows rentals. But it is not a short-term rental building, and you need to understand what that means before buying with rental income in mind.

Per the condominium documents, the minimum lease term is 30 days. Units may not be leased more than four times in any one calendar year. Nightly Airbnb rentals are not permitted.

What you can do is rent monthly, up to four times per year. In the current Southwest Florida market, luxury monthly rentals in a finished riverfront building command a meaningful premium, particularly during season. A 2-bedroom luxury unit with river views in a full-amenity building in a walkable downtown setting is not competing against standard rentals. It is competing against executive rentals, corporate housing, and snowbird seasonal accommodations, which routinely price at $4,000 to $8,000 or more per month depending on the unit size, floor, and season.

Running four monthly leases per year at the higher end of that range on a Beach or Cascade unit gives you a meaningful income offset against your carrying costs. It does not make this a cash-flow-positive investment in the traditional rental property sense. But it materially changes the net cost of ownership while you hold the asset.

HOA Fees at ONE Fort Myers: What You Are Actually Paying For

For a luxury building in this class, the HOA fees are reasonable. Here is what they cover: full-time concierge and security, elevator contracts, pool maintenance, landscaping, janitorial service for common areas, building-wide internet and smart technology, Peloton fitness center access, pest control, window cleaning, exterior building maintenance, and all insurance categories including flood. Reserve contributions for roof, HVAC, elevators, exterior painting, and other long-term capital items are built in.

The reserves are funded from the start, which matters in Florida post-Surfside. A building that has proper reserve funding going in is a building you are less likely to get hit with a special assessment in year three. That is not a small detail when you are buying into a luxury asset at this price point.

Only 34 Units: Why Scarcity Is a Real Investment Factor Here

This is worth stopping on.

Most luxury condo towers in Southwest Florida have 100, 200, or more units. ONE Fort Myers has 34. That is not a minor detail. Scarcity in real estate is one of the few things that actually holds its value over time.

When the building delivers and resale activity eventually starts, you are not competing against 200 identical units to find a buyer or a tenant. The pool of comparable product is extremely limited, and in a desirable market with continued downtown growth, that scarcity premium tends to hold.

If you are still weighing whether Fort Myers makes sense as a place to own, the best neighborhoods in Fort Myers guide covers the full landscape. And if you are trying to time the market, this breakdown of whether now is a good time to buy in Fort Myers is worth reading alongside this one.

If you want to see how ONE compares against other preconstruction condos in Fort Myers and downtown, that breakdown is worth reading before you make a decision.

Who This Investment Makes Sense For

A preconstruction investment in ONE Fort Myers makes the most sense if:

It makes less sense if you need immediate cash flow, you need financing certainty today for a 2027 delivery, or you are looking for a short-term flip with a quick exit.

Preconstruction in a boutique luxury building is a long play. The people who benefit most are typically the ones who buy it, hold it through delivery, and let the market do the work. If you are also factoring in day-to-day cost of ownership in Southwest Florida, this overview of the cost of living in Fort Myers gives you a fuller picture of what owning here looks like beyond the purchase price.

How ONE Fort Myers Compares to Other Florida Luxury Condo Markets

One of the most useful ways to evaluate ONE Fort Myers as a preconstruction investment is to put it next to what comparable luxury condo product costs in other Florida markets. The numbers tell a clear story.

The takeaway is not that ONE Fort Myers is a bargain relative to Miami. The markets are different in important ways. The takeaway is that ONE Fort Myers is priced like a market that is still earlier in its growth curve, and if the downtown Fort Myers corridor continues on its current trajectory, the gap between today’s preconstruction pricing and where finished luxury riverfront product trades in 2027 and beyond is where the investment thesis lives.

Buyers in Naples paid $800 per square foot for luxury waterfront product a decade ago. That same product trades at $1,500 to $2,000 today. Fort Myers is not Naples, but the dynamic of buying ahead of a market that is still developing is the same conversation.

Example Investment Scenario: What the Numbers Actually Look Like

Here is a simple example using a Beach or Cascade unit, which is the entry-level 2-bedroom floor plan at 1,555 square feet.

At the moderate rental scenario, annual income roughly offsets the total carrying cost. At the strong seasonal scenario, you are covering your HOA and taxes on four months of occupancy while the asset appreciates over the remaining years until delivery and beyond.

This is not a traditional income property. It is a lifestyle asset with an income offset that materially changes your net cost of ownership. Anyone underwriting this purchase should stress-test those rental numbers and make sure the deal makes sense without them.