Duplex with Attached One-Car
For Sale
$525,000
227-225 Cape Coral Pkwy E, Cape Coral, FL 33904
MULTI_FAMILY - Other - CAPE CORAL, FL
Property Size2,606 SF
Lot Size0.46 Acres
Price / SF$201.46
Days on Market21
Property Features for 227-225 Cape Coral Pkwy E
General Information
Property type
Residential Multi Family
Property subtype
Duplex
Zoning
RML
Bedrooms
5
Bathrooms
4
Full bathrooms
4
Rooms
Bathroom 2, Bedroom 3, Bathroom 3, Bedroom 1, Bedroom 5, Bedroom 2, Bedroom 4, Bathroom 1, Bathroom 4
Subdivision
CAPE CORAL
Standard status
Active
APN
13-45-23-C1-00228.0440
Size
2,606 SF
Lot size
0.46 Acres
Taxes and HOA fees
Tax Year
2025
Tax Description
CAPE CORAL UNIT 2 PART 3 BLK 228 PB 11 PG 39 LOTS 44 + 45 + 42 + 43
Tax Annual Amount
4152
Legal Description
CAPE CORAL UNIT 2 PART 3 BLK 228 PB 11 PG 39 LOTS 44 + 45 + 42 + 43
Utilities
Heating system
Central, Electric (Heating)
Cooling system
Electric, Ceiling Fan(s), Central Air
Building Details
Year built
1984
Number of units
2
Flooring type
Laminate, Tile
Building materials
Concrete Block, Stucco
Roof type
Shingle
Architectural style
Other
Listing Agency:
Realty One Group MVP
(800) 896-8790
Listed By:
Jeannette Di Leo
(239) 771-0525
Added: Jul 25
Changed: Aug 13
Last Checked: Aug 14 at 6:06AM
MLS# 226026704
Copyright © 2026 Naples Area Board of REALTORS. All rights reserved. All information provided by the listing agent/broker is deemed reliable but is not guaranteed and should be independently verified.
Investment Insights
Based on property information with market context.
This duplex includes an attached one-car garage on one side and offers multiple possibilities for rental income, expansion, or future redevelopment. The multifamily property also includes additional land that may support constructing another duplex while retaining the existing structure. Another option may be to remove the existing improvements and redevelop the combined property for multiple residential units, subject to allowable density, setbacks, parking, utilities, site-plan requirements, and final approval from the City of Cape Coral. Buyers should independently verify development possibilities with the City and do not disturb tenants.
The property sits on a 0.459-acre lot with a recorded size of 2,606 square feet. Construction materials include concrete block and stucco, with tile and laminate flooring. Heating is electric (heating) with central heating, and cooling includes central air with electric components and ceiling fans. The roof is shingle and the property was built in 1984.
Recent permit history includes a re-roof completed in 2022 and re-piping work completed in 2004 for both sides.
The property sits on a 0.459-acre lot with a recorded size of 2,606 square feet. Construction materials include concrete block and stucco, with tile and laminate flooring. Heating is electric (heating) with central heating, and cooling includes central air with electric components and ceiling fans. The roof is shingle and the property was built in 1984.
Recent permit history includes a re-roof completed in 2022 and re-piping work completed in 2004 for both sides.
Key Highlights
- Duplex zoned RML
- 0.459‑acre lot with 2,606 square feet
- Attached one‑car garage on one side
Financial Insights
Estimated NOI and Cap Rate
NOI = area × lease_rate × (100 − vacancy) / 100 × (1 − expense_ratio). Net Operating Income — what the owner takes home each year before mortgage payments and income tax. Effective rent (asking rent minus vacancy losses) minus operating costs (taxes, insurance, maintenance, management).
NOI / Yr
$34,494
Cap rate = NOI / list price × 100. Capitalization rate — annual return on a fully cash purchase, before financing. NOI divided by price. Higher means more income per dollar invested, but usually also more risk or older condition. 5–8% is typical for stabilized commercial property; double digits often signal distressed deals.
Cap Rate
6.57%
Suggested Prices Based on Cap Rates
Cap rates vary significantly by property type, market, and asset quality.
Typical U.S. stable-market ranges:
Multifamily — 4.5% to 6.5% (Class A in primary markets often sub-5%; Class C in secondary markets 6%+)
Industrial / Logistics — 5.0% to 7.0% (compressed heavily in recent years due to e-commerce demand)
Office — 6.5% to 9%+ (wide spread post-2020; CBD Class A vs. suburban Class B varies dramatically)
Retail — 5.5% to 8.5% (grocery-anchored on the low end, unanchored strip centers higher)
Hospitality / Hotels — 7.5% to 10%+ (higher due to operational risk)
Self-Storage — 5.5% to 7.5%
Medical Office — 6.0% to 7.5%
Net Lease (single tenant, credit) — 5.0% to 7.0% depending on tenant credit and lease term
Rules of thumb:
Primary markets (NYC, SF, LA, Boston, DC) trade at lower cap rates than secondary/tertiary markets, often by 100–200 bps (bps, aka basis points; 1 bp = 0.01%).
Class A assets trade ~50–150 bps tighter than Class B, and Class B tighter than Class C.
Cap rates move inversely with price — a lower cap rate means a higher price for the same NOI.
Spread to the 10-year Treasury is a common benchmark; historically 200–400 bps over the 10-year.
Cap Rate 5%
$689,880
$689.9K
Cap Rate 7%
$492,771
$492.8K
Cap Rate 9%
$383,267
$383.3K
Market Conditions
NOI Build-Up for 2,606 SF
Vacancy — income lost from leasable area expected to sit empty during the year, subtracted from gross rent.
EGI (Effective Gross Income) — gross rent minus vacancy losses, the realistic income before paying operating costs.
OpEx (Operating Expenses) — recurring costs to operate the property (property tax, insurance, utilities, maintenance, management); excludes financing and capital improvements.
NOI (Net Operating Income) — income a property generates after operating costs but before financing and taxes.
Gross rent
$51.6K $19.80/SF
− Vacancy
−$2.3K −$0.89/SF
EGI
$49.3K $18.91/SF
− OpEx
−$14.8K −$5.67/SF
NOI
$34.5K $13.24/SF
Area
Cape Coral, FL
Vacancy
4.50%
Lease Rate
$19.80 /SF/Yr
Expense Ratio
30.00%
Simulate Cap Rate and NOI
Suggested Prices Based on Cap Rates
Cap rates vary significantly by property type, market, and asset quality.
Typical U.S. stable-market ranges:
Multifamily — 4.5% to 6.5% (Class A in primary markets often sub-5%; Class C in secondary markets 6%+)
Industrial / Logistics — 5.0% to 7.0% (compressed heavily in recent years due to e-commerce demand)
Office — 6.5% to 9%+ (wide spread post-2020; CBD Class A vs. suburban Class B varies dramatically)
Retail — 5.5% to 8.5% (grocery-anchored on the low end, unanchored strip centers higher)
Hospitality / Hotels — 7.5% to 10%+ (higher due to operational risk)
Self-Storage — 5.5% to 7.5%
Medical Office — 6.0% to 7.5%
Net Lease (single tenant, credit) — 5.0% to 7.0% depending on tenant credit and lease term
Rules of thumb:
Primary markets (NYC, SF, LA, Boston, DC) trade at lower cap rates than secondary/tertiary markets, often by 100–200 bps (bps, aka basis points; 1 bp = 0.01%).
Class A assets trade ~50–150 bps tighter than Class B, and Class B tighter than Class C.
Cap rates move inversely with price — a lower cap rate means a higher price for the same NOI.
Spread to the 10-year Treasury is a common benchmark; historically 200–400 bps over the 10-year.
Cap Rate 5%
$689,880
Cap Rate 7%
$492,771
Cap Rate 9%
$383,267
Alternative Uses
Best Use
Multifamily LT 5
$492.8K
$431.2K – $574.9K
NOI $34,494 @ 7.0% cap · market cap 6.57%
Second Best
Apartment 5plus
$456.7K
$399.6K – $532.8K
NOI $31,966 @ 7.0% cap · market cap 6.09%
Theoretical Best
Office A
$676.2K
$591.7K – $788.9K
NOI $47,333 @ 7.0% cap · market cap 9.02%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
2
Residential units
Location Intelligence
Trade Area within ½ mile
2,317
Businesses Nearby
Explore this area
Business Placement
Demographics for 33904, FL
32,029
Population
20,401
Households
1.6
Avg Household Size
56
Median Age
29%
College-Educated
95%
High-School Grad
9.7 sq mi
ZIP Area
3,302
Density / Sq Mi
$66,933
Median Household Income
$43,829
Median Earnings
$1,665
Median Rent
$347,100
Median Home Value
Market
Vacancy Rate% for Multifamily in South region
Questions? Ask Rey
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Frequently Asked Questions
What type of property is this?
Duplex - Duplex zoned RML with an attached one-car garage and a re-roof completed in 2022.
Where is this duplex located?
The property is located at 227-225 Cape Coral Pkwy E Cape Coral, FL.
What is the asking price?
The asking price for this property is $525,000.
What are key features of this property?
This property features: Duplex zoned RML; 0.459‑acre lot with 2,606 square feet; Attached one‑car garage on one side
