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    Waterfront Land with Boat Dock Title is generated by Realmo AI

    907 NW 38th Avenue, Cape Coral, FL 33993

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    Claim this Listing
    For Sale
    $349,000

    LAND - Cape Coral, FL

    Lot size:
    0.23 Acres
    Added:
    Aug 1, 2025
    Days on Market:
    304
    Last Refresh:
    May 31 at 3:06 pm

    Property Features for 907 NW 38th Avenue

    General Information

    Property type
    Land
    Property subtype
    Other
    Standard status
    Active
    APN
    06-44-23-C4-04226.0070
    Lot size
    0.23 Acres

    Taxes and HOA fees

    Tax Year
    2024
    Tax Description
    CAPE CORAL UNIT 60 BLK 4226 PB 19 PG 155 LOTS 7 + 8
    Tax Annual Amount
    2700

    Utilities

    Water front features
    Canal Access
    Water front
    1

    We can help!

    Listing Contact
    Mark Macomber
    Mark Macomber

    Listing agent Mark Macomber License #258027445

    Listing office RE/MAX Trend 1715 Cape Coral Pkwy W No. 14-16, Cape Coral, FL

    Listing date Aug 1, 2025

    MLS# 2025003845 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.

    HighLights

    • Gulf access lot with a 2021 seawall and 2022 boat dock.
    • Features a solar‑powered 10,000lb boat lift.
    • Enjoy eastern rear exposure with wide water views of Monamink and Hermosa Canals.
    • Avoid the time and expense of seawall and boat dock construction.
    • Only a short 20‑minute boat ride to Matlacha Pass.
    • Convenient access to shopping, dining, medical facilities, and the Fort Myers International Airport.

    Overview

    This Gulf access lot features a 2021 seawall and a 2022 boat dock equipped with a solar-powered 10,000 lb boat lift. Situated on the 125' wide Monamink Canal, the lot offers an eastern rear exposure and an expansive water view of the Hermosa Canal intersection. This property provides a significant head start on custom home construction, eliminating the time-consuming and costly seawall construction process, including obtaining quotes, permitting, and enduring a 1.5+ year construction period, as well as boat dock construction. The dock and lift allow for immediate boat storage and a short 20-minute boat ride to Matlacha Pass while awaiting home construction. Located off Tropicana Pkwy, the lot is near the Burnt Store Road and Pine Island Road intersection, providing access to fresh seafood, tropical fruits, shopping, entertainment, major restaurants, medical facilities, and a VA Clinic. Fort Myers International Airport is approximately 45 minutes away. This 0.23-acre lot in Cape Coral, Florida, offers abundant sunshine, boating, beaches, and waterfront dining opportunities.
    Property Profile Location Intelligence

    Current Use by Public Records

    Waterfront Land

    Suggested Use

    Real Estate Agency Restaurant Law Firm Building Supply Auto Repair Shop 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
    -82.051959
    Latitude
    26.669759

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    FAQs

    What type of property is this?
    Waterfront Land - Gulf access lot with seawall and boat dock.
    Where is this waterfront land located?
    The property is located at 907 NW 38th Avenue Cape Coral, FL.
    What is the asking price?
    The asking price for this property is $349,000.
    What are key features of this property?
    This property features: Gulf access lot with a 2021 seawall and 2022 boat dock.; Features a solar‑powered 10,000lb boat lift.; Enjoy eastern rear exposure with wide water views of Monamink and Hermosa Canals.
    (239) 233-5135
    We can help!
    Listing Contact
    Mark Macomber
    Mark Macomber
    Real Estate License ID: 258027445
    Request Owner's contact information
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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.

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