$1,100,000

About This Property

Downtown Cape Coral Opportunity located on the most sought-after area in Cape Coral. The site consists of an existing office building with 17 parking spaces and vacant lot totaling .45 acres of developable land located on 47th St And SE 9th PL. Plenty of additional parking along SE 9th PL and in the City owned parking lot to the East called “Club Square”. The 100M+ Development one street South called “The Cove on 47th” is under construction and consists of approximately 326 apartment units, 19,000 square feet of restaurant and retail commercial space. As part of the agreement, $10.4 million in incentives to fund the construction of a 525-space parking garage with 125 spaces available for public use. There are plenty of approved uses including ground floor retail, office, medical and multifamily development up to 10 stories and 125 units per acre. The 48K sq ft Lee Health Facility is breaking ground this year within a mile of the subject property. The property was completely renovated in 2023 with a new roof, 2 new AC’s and interior design elements. Recent appraisal available for review. The South Cape CRA’s mission is to facilitate a vibrant urban village where people of all ages will live, work, shop, dine, and be entertained. Parcel #07-45-24-C4-00355.0450 also included in this sale.

infoProperty Details

Property Type

Lodging and Hospitality: Economy/Limited Service,Multi-Family: Mid Rise (4-7 Floors),Office: Medical Offices,Office: Office Building,Retail-Commercial: Day Care Facility/Nursery,Retail-Commercial: Free Standing Building,Retail-Commercial: Other,Retail-Commercial: Restaurant

Year Built

1984

Lot Size

0.45 acres

Days on Market

32

Cumulative DOM

130

List Date

Oct 16, 2023

Sold Date

Feb 23, 2024

Annual Taxes

yardExterior & Lot

Mortgage calculator

Estimate excludes taxes, insurance, HOA dues, PMI, lender fees, and financial advice.

Listed By

RE/MAX Trend

239-541-1661