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    The Largest CRE Database in the US with Over 1 Million Listings

    7227 Cobiac Dr St James City, FL 33956

    Sponsored
    For Sale
    $85,000

    LAND - St James City, FL

    Lot size:
    0.09 Acres
    Days on Market:
    14
    Last Refresh:
    Feb 8 at 12:06 pm

    Property Features for 7227 Cobiac Dr

    General Information

    Property type
    Land
    Property subtype
    Other
    Standard status
    Active
    Vegetation
    Brush
    APN
    09-45-22-05-00000.1970
    Lot size
    0.09 Acres

    Utilities

    Sewer type
    Private Sewer
    Water source
    Public
    Water front features
    Canal Access
    Water front
    1

    We can help!

    Listing Contact
    Norma Salter

    Century 21 Sunbelt Realty (239) 542-8611

    Listing agent Norma Salter (239) 314-9317 License #258019156

    Listing date Jan 26, 2026

    MLS# 2026004409 Listing URL

    Copyright © 2026 Florida Gulf Coast Multiple Listing Service, Inc. All rights reserved. All information provided by the listing agent/broker is deemed reliable but is not guaranteed and should be independently verified.

    Learn more

    Property Insight Report

    Overview

    Waterfront Lot in 55+ Community

    This Gulf access waterfront lot is situated in the Pine Island Cove, a sought-after 55+ waterfront community. The property benefits from existing water, electric, and sewer connections, eliminating impact fees and reducing upfront costs. Residents can enjoy boating with quick access to open water, fishing locations, and island destinations such as Cabbage Key, Sanibel, and Cayo Costa beach. The lot provides flexibility for building either a stilt home or installing a new manufactured home. Community amenities include a heated saltwater pool and spa, a private boat ramp, RV and boat storage, picnic areas, and a dog park. The location is convenient to restaurants, shopping, banks and parks. This property offers waterfront living where you own the land and control the build, with direct boat access from the backyard. The lot size is 0.092 acres and is located in St James City, FL.
    Property Profile Insight Report Location Intelligence

    Current Use by Public Records

    Residential land & home ...

    Suggested Use

    Real Estate Agency Law Firm Gym & Fitness Center Kitchen & Bath Showroom Big Box & Wholesale Store Food Market Travel Agency Garden Center Fish Market Farmer's Market

    Zoning and permitted uses should be independently verified with local authorities.

    Location Insight

    • Map
    • Local Demand
    City
    St James City
    County
    Lee
    State
    Florida
    Longitude
    -82.109142
    Latitude
    26.566016

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    FAQs

    What type of property is this?
    Residential land & home lot - Gulf access waterfront lot in Pine Island Cove 55+ community.
    Where is this residential land & home lot located?
    The property is located at 7227 Cobiac Dr St James City, FL.
    What is the asking price?
    The asking price for this property is $85,000.
    What are key features of this property?
    This property features: - Gulf access waterfront lot with minutes to open water, world-class fishing, and island destinations.; - Located in the desirable Pine Island Cove 55+ waterfront community.; - Water, electric, and sewer are already in place; no impact fees required.
    (239) 314-9317
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    7227 Cobiac Dr St James City, FL 33956
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    St James City, FL 33956
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    Realmo Value Estimations

    Realmo estimates a property’s market value using a proprietary methodology that incorporates public data and user-submitted information. This cumulative value is generated by integrating a variety of conventional and innovative methods. 

    Disclaimer

    These figures are not official appraisals and should not be used as a substitute for a valuation performed by a licensed appraiser.
    Actual market value may differ due to factors not captured in the data. Estimates are offered for informational purposes only, and users should conduct independent research before making financial or investment decisions.
    By using this feature, you acknowledge that Realmo is not responsible for actions taken based on these estimates.

    AI approach

    Realmo AI Method estimates property value using machine learning models trained on millions of comparable listings, transactions, and market signals. It analyzes property features, location intelligence data, and current market dynamics to predict the most probable market value in real time.

    Realmo CapRate Calculation

    Realmo calculates the Capitalization Rate (Cap Rate) to help estimate a property's potential return on investment. The Cap Rate is a fundamental metric in commercial real estate that measures the relationship between a property's net operating income and its market value.

    How We Calculate Cap Rate

    Cap Rate Formula:
    Cap Rate (%) = (Net Operating Income / Property Value) × 100

    Net Operating Income (NOI) Formula:
    NOI = Area × Lease Rate × (1 - Vacancy Rate) × (1 - Operating Expense Ratio)

    Components

    Net Operating Income (NOI) represents the annual income a property generates after operating expenses:

    • Area: Building square footage from property records
    • Lease Rate: Annual $/sqft based on market data for the property type and geographic location
    • Vacancy Rate: Percentage of unoccupied space based on market data for the property type and location
    • Operating Expense Ratio: Operating costs as a percentage of income, varies by property type

    Property Value is derived from:

    • Recent sale price (if available)
    • Statistical models using comparable sales
    • AI-powered valuation estimates

    Example Calculation

    For a 100,000 sqft Office Building:

    • Lease Rate: $25.00/sqft/year (market data for Office in this area)
    • Vacancy Rate: 8% (market data for Office in this area)
    • Operating Expense Ratio: 35% (typical for Office properties)
    • Property Value: $15,000,000

    Step 1: Calculate NOI

    NOI = 100,000 × $25.00 × (1 - 0.08) × (1 - 0.35)
    NOI = 100,000 × $25.00 × 0.92 × 0.65
    NOI = $1,495,000/year

    Step 2: Calculate Cap Rate

    Cap Rate = ($1,495,000 / $15,000,000) × 100
    Cap Rate = 9.97%

    Property Type Considerations

    Net Operating Income calculations vary by property type due to different operating expense ratios:

    • Office: Higher expenses (30-40%) for HVAC, utilities, maintenance
    • Retail: Moderate expenses (25-35%) for common area maintenance
    • Industrial/Warehouse: Lower expenses (15-25%) for minimal tenant services
    • Multifamily: Moderate expenses (35-45%) including property management
    • Self-Storage: Lower expenses (25-35%) due to minimal maintenance

    Market lease rates and vacancy rates are specific to each property type and geographic location, reflecting local market conditions.

    Disclaimer

    These calculations are estimates for informational purposes only and should not be used as a substitute for professional financial analysis or appraisal.

    • Cap Rate calculations depend on market data that may change over time
    • Actual operating expenses, lease rates, and vacancy rates may differ from market averages
    • Individual property conditions, lease terms, and tenant quality significantly impact actual NOI
    • Property value estimates are approximations and not official appraisals
    • Cap rates vary widely by market, property condition, and investment risk profile

    Professional Guidance Recommended: Before making any investment or financial decisions, consult with licensed appraisers, commercial real estate brokers, and financial advisors who can evaluate your specific property and circumstances.
    By using this feature, you acknowledge that Realmo is not responsible for investment decisions or actions taken based on these estimates.

    Cap approach

    Capitalization Method calculates value based on estimated net operating income (NOI) and applying a market-based capitalization rate (cap rate), we estimate what a typical investor might be willing to pay for it.

    Comparable approach

    Comparable estimate is based on recent sales of similar nearby properties, adjusted for factors like size, condition, and location.

    Relative

    Relative property class coefficient uses factors that account for typical price differences between various asset types (e.g., retail vs. industrial) to provide a more accurate market-aligned estimate.

    Geo

    Comparable Sales Method, enhanced by Geo coefficients — location-based adjustment factors that reflect differences in price levels across neighborhoods, cities, or regions ensuring a more accurate, market-sensitive valuation.

    Stat Estimate

    This method estimates value based on actual market adjusted recent (~5 years) sales of comparable properties around by location and property type.

    • Ranges - area data calculated by industry standard IQR Outlier Removal Method
    • Range-from: 75% of all similar sales ($/sqft) are above this value
    • Range-to: 75% of all similar sales ($/sqft) are below this value
    AI Estimate

    This method estimates value based on AI market estimation of comparable properties around by location and property type.

    • Ranges - area data calculated by industry standard IQR Outlier Removal Method
    • Range-from: 75% of all estimations ($/sqft) are above this value
    • Range-to: 75% of all estimations ($/sqft) are below this value
    Alternative use

    Estimate considers the property’s potential value if used for a different purpose-based on zoning, demand, and market feasibility.

    More about this property
    7227 Cobiac Dr St James City, FL 33956
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    We can help!
    Listing Contact
    Norma Salter
    Real Estate License ID: 258019156
    (239) 314-9317
    Learn more
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