862 Lafayette StCape Coral, FL 33904

Property Details for 862 Lafayette St

Year built

2002

Construction

MASONRY/CONCRETE MASONRY UNITS (CMUS)

Lot size

0.60 AC

Property size (Sq ft)

9,044 SF

Zone code

SC

Property type

Retail properties

Property subtype

Retail space

APN

18-45-24-C1-00052.0590

APU

184524C1000520590

Description

This exceptional retail property, located at 862 Lafayette St, Cape Coral, FL 33904, presents a unique investment opportunity. The 17,000 square foot building, constructed in 2002, boasts a charming "old-world" Italian design, reflecting its history as the long-time home of Paesano's Italian Fresh Market. Situated on a one-acre lot, the property includes a substantial 13,000 square foot parking lot to the south. The building is zoned SC (South Cape), placing it within the CRA district and the South Cape Hospitality Entertainment Area, benefiting from high visibility and foot traffic. Its prime location offers easy access to major thoroughfares, with Cape Coral Parkway boasting a daily traffic count of 40,000 vehicles. The asking price of $3,984,200 is considered well below replacement cost, making this a compelling investment. The property's proximity to the Cove on 47th and Bimini Basin developments further enhances its appeal. Potential seller financing may be available. This is a rare chance to acquire a well-established, beautifully designed retail space in a thriving area of Cape Coral.

• CAP approach

  CAP return

  Valuation

  6%

  $3,526,549

  6.5%

  $3,255,276

  7%

  $3,022,756

• Comparable approach

  Method

  Valuation

  Relative Method

  $4,572,069

  Geo Method

  $4,162,298

• Alternative Use

  Use

  Valuation

  Residential

  $2,745,947

  Hospitality

  $2,515,273

  Educational

  $2,092,677

  Medical

  $2,164,648

  Retail

  $3,255,276

Location Insight

City

Cape Coral

County

Lee

State

Florida

Latitude

26.5615

Longitude

-81.955

CBSA code

15980

CBSA name

CAPE CORAL-FORT MYERS, FL METROPOLITAN STATISTICAL AREA

Property Tax & Assessments

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