430 47Th TerCape Coral, FL 33914

Property Details for 430 47Th Ter

Year built

1979

Construction

MASONRY/CONCRETE MASONRY UNITS (CMUS)

Lot size

0.29 AC

Property size (Sq ft)

1,000 SF

Zone code

SC

Property type

Retail properties

Property subtype

Retail space

APN

12-45-23-C3-00086.0370

APU

124523C3000860370

Description

This exceptional Cape Coral investment opportunity features approved plans for a mixed-use development encompassing 39 workforce housing units and 8,300 square feet of commercial space. Located in South Cape Coral at 430 SW 47th Terrace, 33914, this fully entitled land parcel is zoned CP, offering flexibility for a variety of commercial uses (buyer to verify zoning). The workforce housing component is designed to meet the requirements of the Live Local Bill, with 40% of units reserved for individuals earning less than 120% of the Area Median Income (AMI), which was $88,800 in Cape Coral as of April 2024. The modern, efficient housing units are expected to command strong rental rates, providing a stable income stream. The substantial commercial space presents significant potential for long-term leases and diverse business ventures. This prime location offers convenient access to major highways, public transportation, schools, parks, restaurants, and healthcare facilities, ensuring high occupancy and tenant satisfaction. The property's strategic location within a rapidly growing area promises significant appreciation potential. Seller financing is available. This development contributes to the community by addressing the need for affordable housing and fostering economic growth. This is a rare opportunity to capitalize on the strong demand for both residential and commercial space in a thriving South Cape Coral market.

• CAP approach

  CAP return

  Valuation

  6%

  $389,932

  6.5%

  $359,938

  7%

  $334,228

• Comparable approach

  Method

  Valuation

  Relative Method

  $505,536

  Geo Method

  $460,228

• Alternative Use

  Use

  Valuation

  Residential

  $303,621

  Hospitality

  $278,115

  Educational

  $231,388

  Medical

  $239,346

  Retail

  $359,938

Location Insight

City

Cape Coral

County

Lee

State

Florida

Latitude

26.5636

Longitude

-81.9645

CBSA code

15980

CBSA name

CAPE CORAL-FORT MYERS, FL METROPOLITAN STATISTICAL AREA

Property Tax & Assessments

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