Two-Story Concrete Office
For Sale
$2,100,000
917 SE 47th Terrace, Cape Coral, FL 33904
COMMERCIAL - Cape Coral, FL
Property Size8,600 SF
Lot Size0.14 Acres
Price / SF$244.19
Days on Market197
Property Features for 917 SE 47th Terrace
General Information
Property type
Commercial Sale
Property subtype
Office
Zoning description
SC
Directions
Cape Coral Pkwy E to (N) on SE 9th Pl to (E) on SE 47th Ter to 917
Subdivision
CC12 - Cape Coral Unit 7-15
Standard status
Active
APN
07-45-24-C4-00356.0300
Lot size
0.14 Acres
Taxes and HOA fees
Tax Year
2025
Tax Description
CAPE CORAL UNIT 8 BLK 356 PB 13 PG 3 LOTS 30 + 31
Tax Annual Amount
1592
Legal Description
CAPE CORAL UNIT 8 BLK 356 PB 13 PG 3 LOTS 30 + 31
Amenities
commercial kitchen
conference room
reception area
storage
classrooms
separate entrances
Building Details
Year built
1975
Floors in Building
2
Listing Agency:
Century 21 Selling Paradise
(239) 542-5777
Listed By:
Jack Martin · License #278007007
(239) 707-9015
Added: Jan 26
Changed: Aug 4
Last Checked: Aug 11 at 9:06AM
MLS# 2026004766
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.
Investment Insights
Based on property information with market context.
This two-story concrete office building was built in 1975 and is approximately 8,600 square feet. The first floor is set up as a banquet hall and includes a full commercial kitchen with pantry, along with a conference room, reception/office area, four restrooms, and ample storage.
The second floor features three large classrooms, additional office space, and two restrooms. The building is designed for separation between levels, with two separate entrances and two stairways, allowing an owner to occupy one floor while leasing the other.
Recent capital improvements include a new roof in 2023, new AC units, impact-resistant glass, and new flooring and ceiling tiles on the second floor. Parking is available both in the front and rear of the property, and the site sits on a 0.143-acre lot at 917 SE 47th Terrace in Cape Coral, FL.
The second floor features three large classrooms, additional office space, and two restrooms. The building is designed for separation between levels, with two separate entrances and two stairways, allowing an owner to occupy one floor while leasing the other.
Recent capital improvements include a new roof in 2023, new AC units, impact-resistant glass, and new flooring and ceiling tiles on the second floor. Parking is available both in the front and rear of the property, and the site sits on a 0.143-acre lot at 917 SE 47th Terrace in Cape Coral, FL.
Key Highlights
- Approximately 8,600 SF two‑story concrete office building
- First floor banquet hall with full commercial kitchen and pantry
- Second floor with three large classrooms, additional office space, and two restrooms
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
$136,534
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
6.50%
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%
$2,730,680
$2.7M
Cap Rate 7%
$1,950,486
$2.0M
Cap Rate 9%
$1,517,044
$1.5M
Market Conditions
NOI Build-Up for 8,600 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
$185.8K $21.60/SF
− Vacancy
−$3.7K −$0.43/SF
EGI
$182.0K $21.17/SF
− OpEx
−$45.5K −$5.29/SF
NOI
$136.5K $15.88/SF
Area
Cape Coral, FL
Vacancy
2.00%
Lease Rate
$21.60 /SF/Yr
Expense Ratio
25.00%
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%
$2,730,680
Cap Rate 7%
$1,950,486
Cap Rate 9%
$1,517,044
Alternative Uses
Best Use
Specialty Retail
$1.95M
$1.71M – $2.28M
NOI $136,534 @ 7.0% cap · market cap 6.50%
Second Best
Office B
$1.74M
$1.52M – $2.03M
NOI $121,712 @ 7.0% cap · market cap 5.80%
Theoretical Best
Office A
$2.23M
$1.95M – $2.60M
NOI $156,204 @ 7.0% cap · market cap 7.44%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Location Intelligence
Trade Area within ½ mile
2,496
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 Office in South region
Questions? Ask Rey
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Frequently Asked Questions
What type of property is this?
Office building - Two-story concrete office building with banquet hall and full commercial kitchen; roof replaced in 2023.
Where is this office building located?
The property is located at 917 SE 47th Terrace Cape Coral, FL.
What is the asking price?
The asking price for this property is $2,100,000.
What are key features of this property?
This property features: Approximately 8,600 SF two‑story concrete office building; First floor banquet hall with full commercial kitchen and pantry; Second floor with three large classrooms, additional office space, and two restrooms
