Sign Up Successful!
You now have access to more from Realmo!
    For Sale
    • For Sale
    • For Lease
    • Recently Sold
    • Property Lookup
    • Brokers
    AI Search
    Back to Search
    The Largest CRE Database in the US with Over 1 Million Listings

    731 NW 38Th Pl Cape Coral, FL 33993

    Sponsored
    Picture of Residential land & home lots at NW 38Th Pl 731, Cape Coral, FL
    For Sale
    $80,000

    LAND - Cape Coral, FL

    Lot size:
    0.23 Acres
    Days on Market:
    1
    Last Refresh:
    Jan 31 at 2:06 pm

    Property Features for 731 NW 38Th Pl

    General Information

    Property type
    Land
    Property subtype
    Other
    Standard status
    Active
    APN
    07-44-23-C1-04180.0370
    Lot size
    0.23 Acres

    We can help!

    Listing Contact
    Steve Ehlers

    Premiere Plus Realty Company (239) 206-2777

    Listing agent Steve Ehlers (239) 822-4681 License #258016743

    Listing date Jan 31, 2026

    MLS# 2026005394 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

    Cape Coral Vacant Lot

    This 0.23-acre vacant lot is located in Northwest Cape Coral, Florida. Situated across from Gulf access homes off Tropicana Parkway, the property is a short walk from the new Tropicana Park and the future Seven Islands development. The Coral Oaks Golf Course is approximately 5 minutes away, while the Cape Royal Golf Course is a 10-minute drive. This lot is positioned in an area experiencing new construction, between Burnt Store Road and Old Burnt Store Road, presenting an opportunity for building a home.
    Property Profile Insight Report Location Intelligence

    Current Use by Public Records

    Residential land & home ...

    Suggested Use

    Realty agency Restaurant Law Firm Building Supply Gym & Fitness Accounting Firm Hotel & Motel Department Store Food Market HVAC Service

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

    Location Insight

    • Map
    • Local Demand
    City
    Cape Coral
    County
    Lee
    State
    Florida
    Longitude
    -82.052941
    Latitude
    26.666775

    Nearby Similar for Sale

    • $49,500
      29.21 Acres

      Turnkey Tea & Pastry Destination

      Cape Coral's Le Petit Pastry & Tea for sale.
      2301 Del Prado Blvd S, Cape Coral, FL 33990
      View Details
    • $599,900
      Pending

      Duplex with Pool and Spa

      Spacious duplex with pool, spa, and canal view.
      545/603 Cultural Park Blvd S, Cape Coral, FL 33990
      View Details
    • New
      $3,250,000
      17,500 SF

      Cape Coral Commercial Opportunity

      Two-story commercial building in downtown Cape Coral with ample parking.
      862 Lafayette St, Cape Coral, FL 33904
      View Details
    • New
      $995,000
      0.35 Acres

      Cape Coral Fourplex: Investment Opportunity

      Remodeled fourplex in Cape Coral, furnished, with vacation rental licenses.
      624 SE 46Th St, Cape Coral, FL 33904
      View Details
    • $28,750,000
      0.33 Acres

      Mixed-Use Development Site with Plans

      Mixed-use development site with approved plans in downtown Cape Coral.
      1415 Cape Coral Pkwy E, Cape Coral, FL 33904
      View Details
    • $450,000
      0.26 Acres

      Cape Coral Duplex For Sale

      Income-producing duplex with spacious units and private yards.
      931/933 SE 23Rd Pl, Cape Coral, FL 33990
      View Details
    • $849,000
      0.23 Acres

      Gulf Access Duplex with Pools

      Profitable duplex with private pools, fully furnished, near downtown.
      317-319 SW 47Th Ter, Cape Coral, FL 33914
      View Details
    • $524,900
      0.25 Acres

      Cape Coral Duplex Investment Opportunity

      Newer construction duplex in Cape Coral, ideal for investors.
      1117/ Diplomat Pkwy E, Cape Coral, FL 33909
      View Details
    • $849,000
      Pending

      Del Prado Mall Commercial Condo

      Prime commercial condo in thriving Cape Coral location for sale.
      1404 Del Prado Blvd S unit 100 & 105, Cape Coral, FL 33990
      View Details
    • $575,000
      Pending

      Cape Coral Quadplex Investment Opportunity

      Well-maintained quadplex in downtown Cape Coral, offering consistent rental income.
      620 SE 47Th St, Cape Coral, FL 33904
      View Details
    • New
      $540,000
      0.24 Acres

      Cape Coral Duplex with Private Pool

      2020-built duplex in Cape Coral with private pool.
      510/512 Skyline Blvd, Cape Coral, FL 33991
      View Details
    • $489,000
      0.28 Acres

      Cape Coral Duplex: Income Property

      Well-maintained duplex in prime location with long-term tenants.
      4602 Skyline Blvd, Cape Coral, FL 33914
      View Details

    FAQs

    What type of property is this?
    Residential land & home lot - Vacant lot in NW Cape Coral near future developments.
    Where is this residential land & home lot located?
    The property is located at 731 NW 38Th Pl Cape Coral, FL.
    What is the asking price?
    The asking price for this property is $80,000.
    What are key features of this property?
    This property features: - Prime location across from Gulf access homes.; - Walking distance (2 minutes) to the new Tropicana Park and future Seven Islands.; - Located in the heart of new construction in NW Cape Coral.
    (239) 822-4681
    Request Owner's contact information
    731 NW 38Th Pl Cape Coral, FL 33993
    Message sent successfully
    Error
    If you are the owner or broker of this property and would like to edit or remove this listing please send a message to web site administrator.
    731 NW 38Th Pl
    Cape Coral, FL 33993
    Message sent successfully
    Error
    Email to Your Friends
    Link copied to clipboard
    Separate multiple addresses with a comma
    Message sent successfully
    Error

    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
    731 NW 38Th Pl Cape Coral, FL 33993
    Thanks! Your message was sent.
    Error! Your message wasn't sent.
    Please enter your name
    Please enter email
    Please enter the email in the correct format
    Please enter phone
    Please enter the number in the correct format
    Please enter message
    Thank You

    You are Unsubscribed From Notifications

    We can help!
    Listing Contact
    Steve Ehlers
    Real Estate License ID: 258016743
    (239) 822-4681
    Learn more
    Google sign-in failed. Please try again or use another login method.