Island Off The Coast Of Florida? Yours For Just $42,000.

A unique opportunity is being offered by auctioneers to own an island in the Caloosahatchee River in Florida up for sale, The 1.4 acre private island will be truly unique and is just a thirty second boat ride off the mainland. The island, which is small and densely wooded, is up for sale for just four days on an online auction. It is located in Fort Myers in Florida and boasts of 360-degree panoramic views, which overlook luxury waterfront homes. The only downside is that the island has no utilities or buildings on it at present so any potential developer would have to outlay cash before even beginning to build their dream home.

Amazingly under the current zoning laws of the state whoever is the highest bidder for the island will be able to build a family home there along with a boat house or dock. The sale is being classed as “absolute” which in effect means that the island will undoubtedly sell to the highest bidder. After having begun on Monday at 10am local time, the auction ends on Thursday 7th June at 2pm local time.

Whoever is the winning bidder for the island could build their dream waterfront home there but they would have to install basic utilities first. The island would need its own septic tank along with electricity but not necessarily gas. At present the island is nameless as it is being classed as a truly virgin island and opportunities such as this one don’t come along very often. Its address is currently 14700 Island 1, Caloosahatchee River, Fort Myers, Florida, 33905. Its previous owners were the Pan American Fund LLC who claimed it back from its previous owners back in 2008.

The island was bought once before by people intending to build a bed and breakfast on the island. Couple Arthur and Pearl Hoffman had to turn the property deed over to avoid repossession in April 2008 because they soon realised that they did not have sufficient funding to see the project through to the end because of the lack of basic utilities on the island kept pushing the completion price upwards.

The winning bidder has to put a deposit into escrow of $50,000 to the auctioneer’s settlement agent. Back in 2006 the largest land auction was held in North Port Florida where 2,100 lots sold over a three-week period for $65million. However it is very rare for a private island to go up for auction. It has happened once before around four years where a private island went up for sale in the Bahamas. It was the first private island to be sold at auction as well as online but boasted three homes as well as a landing strip. That island sold for $7.5million.

The agent dealing with the sale of this private island refuses to be drawn on what he thinks will be the final selling price. Lamar Fisher is president of the Fisher Auction Company who is presiding over the sale, when asked he said that people would just have to wait and see what the final magic sale price would be.