New Construction
For Sale
$565,000
Pending
1024/1026 Diplomat Pkwy E, Cape Coral, FL 33909
Two three-bedroom residences feature open layouts, modern finishes, and dedicated city water and sewer connections.
Property Size2,498 SF
Days on Market42
Property Features for 1024/1026 Diplomat Pkwy E
General Information
Standard status
Pending
Size
2,498 SF
Property subtype
Multi-Family
Units
Unit Mix
2 x 3BR/2BA
Multifamily Units
2
Additional Details
Utilities to Site
Yes
Building Details
Year Built
2026
Buildings
1
Listing Agency:
Invest Ready Realty
(786) 452-6501
Listed By:
Rodney Menendez · License #3387018
Source:
Naplespropertyguide
Added: Jul 22
Changed: Aug 31
Last Checked: Aug 31 at 5:27PM
Displayed information is deemed reliable but is not guaranteed and should be independently verified. All listing content including descriptions, pricing, images are the copyrighted material of Invest Ready Realty
Investment Insights
Based on property information with market context.
Completed in 2026, this duplex contains two residences totaling 2,498 square feet, with each side offering three bedrooms and two bathrooms. Both units use an open-concept layout with high ceilings, porcelain tile flooring throughout, wood kitchen cabinetry, quartz countertops, and stainless steel appliances. Impact windows add another notable building feature, while the corner-lot setting provides the property’s site configuration.
The property is located at 1024/1026 Diplomat Pkwy E in Cape Coral, Florida. City water and sewer are connected, and the property is identified as outside a flood zone. Assessments will be paid at closing.
The property is located at 1024/1026 Diplomat Pkwy E in Cape Coral, Florida. City water and sewer are connected, and the property is identified as outside a flood zone. Assessments will be paid at closing.
Key Highlights
- Two‑unit duplex with 3 bedrooms and 2 bathrooms on each side
- 2,498 SF total building area; built in 2026
- Open‑concept interiors with high ceilings and porcelain tile floors throughout
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
$33,064
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
5.85%
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%
$661,280
$661.3K
Cap Rate 7%
$472,343
$472.3K
Cap Rate 9%
$367,378
$367.4K
Market Conditions
NOI Build-Up for 2,498 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
$49.5K $19.80/SF
− Vacancy
−$2.2K −$0.89/SF
EGI
$47.2K $18.91/SF
− OpEx
−$14.2K −$5.67/SF
NOI
$33.1K $13.24/SF
Area
Cape Coral, FL
Vacancy
4.50%
Lease Rate
$19.80 /SF/Yr
Expense Ratio
30.00%
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%
$661,280
Cap Rate 7%
$472,343
Cap Rate 9%
$367,378
Alternative Uses
Best Use
Multifamily LT 5
$472.3K
$413.3K – $551.1K
NOI $33,064 @ 7.0% cap · market cap 5.85%
Second Best
Apartment 5plus
$437.7K
$383.0K – $510.7K
NOI $30,641 @ 7.0% cap · market cap 5.42%
Theoretical Best
Office A
$648.2K
$567.2K – $756.2K
NOI $45,372 @ 7.0% cap · market cap 8.03%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Current Use
Lease Details
2
Residential units
Yes
Utilities to site
Location Intelligence
Trade Area within ½ mile
84
Businesses Nearby
Explore this area
Business Placement
Demographics for 33909, FL
33,063
Population
14,051
Households
2.4
Avg Household Size
39
Median Age
25%
College-Educated
94%
High-School Grad
37.8 sq mi
ZIP Area
875
Density / Sq Mi
$79,096
Median Household Income
$39,912
Median Earnings
$1,773
Median Rent
$292,800
Median Home Value
Market
Vacancy Rate% for Multifamily in South region
Questions? Ask Rey
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Frequently Asked Questions
What type of property is this?
Duplex - Two three-bedroom residences feature open layouts, modern finishes, and dedicated city water and sewer connections.
Where is this duplex located?
The property is located at 1024/1026 Diplomat Pkwy E Cape Coral, FL.
What is the asking price?
The asking price for this property is $565,000.
What are key features of this property?
This property features: Two‑unit duplex with 3 bedrooms and 2 bathrooms on each side; 2,498 SF total building area; built in 2026; Open‑concept interiors with high ceilings and porcelain tile floors throughout
