3731 SE 15Th Pl Cape Coral, FL 33990

This property features entitled land with approved building and MEP plans for a mixed-use development. The development includes workforce housing and commercial space. Zoned C1 (confirm zoning for uses), the property is suitable for developers and investors. The project incorporates 70 workforce housing units, designed to meet the demand for affordable housing. Additionally, there is 8,300 square feet of commercial space suitable for retail, office, or mixed-use purposes. Located in South Cape Coral, the property provides access to public transportation, major highways, and local amenities. Nearby schools, parks, restaurants, and healthcare facilities enhance its appeal. The development offers a stable rental market, with potential for long-term commercial leases. The property's design supports community impact. There is significant appreciation potential. The property is deed-restricted under the Live Local Bill, requiring 40% of units to be rented to tenants earning less than 120% of the area median income (AMI). As of April 2024, Cape Coral's AMI is $88,800. The lot size is 1.033 acres. Seller financing is available. Buyers may select either of two paths: Acquire the lot an build under their own contractor and financing or partner with Coast Life Developers through a build-for-buyer agreement, with the option for long-term property management. Long-term property management is available upon delivery.