Grocery-Anchored Shopping
For Sale
$15,000,000
110 NE 2nd Pl, Cape Coral, FL 33909
Fully occupied neighborhood retail property with masonry construction and flexible demising potential.
Property Size47,377 SF
Price / SF$316.61
Days on Market24
Property Features for 110 NE 2nd Pl
General Information
Standard status
Active
Size
47,377 SF
Property subtype
Commercial
Occupancy
94%
Lease Term
±3.6 YRS
Net Operating Income
$890,317
Additional Details
Anchor Co-Tenants
Key Food
Building Details
Building Size
47,377 SF
Units
19
Construction
masonry
Tenancy
Multi
Listing Agency:
Matthews
(813) 600-5908
Listed By:
Aiden Hawkins · License #SL3577905 (FL)
(813) 600-5908
Source:
Matthews
Added: Aug 8
Changed: Aug 30
Last Checked: Aug 30 at 12:54PM
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 Matthews
Investment Insights
Based on property information with market context.
This shopping center contains 47,377 square feet of fully leased retail space and is anchored by Key Food. Concrete block construction supports future suite reconfiguration and tenant build-outs, while the layout accommodates small- and mid-bay occupants. The roof was replaced approximately 2 years ago. HVAC maintenance and replacement are assigned to the tenants, and the CAM structure is designed to recover operating expenses with limited landlord maintenance obligations.
The property is located at 110 NE 2nd Pl in Cape Coral, just off Pine Island Road. Its tenant roster is diversified across multiple occupants, and the center offers an established neighborhood retail setting with a grocery anchor and immediate in-place occupancy.
The property is located at 110 NE 2nd Pl in Cape Coral, just off Pine Island Road. Its tenant roster is diversified across multiple occupants, and the center offers an established neighborhood retail setting with a grocery anchor and immediate in-place occupancy.
Key Highlights
- 47,377 SF shopping center anchored by Key Food
- 100% leased with a diversified tenant roster
- Concrete block construction supports demising and future build‑outs
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
$752,157
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
5.01%
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%
$15,043,140
$15.0M
Cap Rate 7%
$10,745,100
$10.7M
Cap Rate 9%
$8,357,300
$8.4M
Market Conditions
NOI Build-Up for 47,377 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
$1.02M $21.60/SF
− Vacancy
−$20.5K −$0.43/SF
EGI
$1.00M $21.17/SF
− OpEx
−$250.7K −$5.29/SF
NOI
$752.2K $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%
$15,043,140
Cap Rate 7%
$10,745,100
Cap Rate 9%
$8,357,300
Alternative Uses
Best Use
Specialty Retail
$10.75M
$9.40M – $12.54M
NOI $752,157 @ 7.0% cap · market cap 5.01%
Second Best
Retail
$10.21M
$8.93M – $11.91M
NOI $714,442 @ 7.0% cap · market cap 4.76%
Theoretical Best
Office A
$12.29M
$10.76M – $14.34M
NOI $860,518 @ 7.0% cap · market cap 5.74%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
Multi-tenant
Tenancy
Location Intelligence
Trade Area within ½ mile
447
Businesses Nearby
101k
Monthly Visits Nearby
Well-served
Demand for This Use
Explore this area
Business Placement
Foot Traffic Nearby
Dining 64%
Shops & Services 36%
McDonald's
Dining
34,510 visits/mo
0.5 miles
Wendy's
Dining
13,736 visits/mo
0.5 miles
Mobil
Shops & Services
12,000 visits/mo
0.5 miles
Arby's
Dining
9,540 visits/mo
0.5 miles
Popeyes Louisiana Kitchen
Dining
7,202 visits/mo
0.5 miles
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 Retail in South region
Questions? Ask Rey
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Similar Off Market Nearby
- Santa Barbara Centre — 100 Hancock Bridge Pkwy, Cape Coral, FL 33991
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- Merchants Plaza — 211 Hancock Bridge Pkwy, Cape Coral, FL 33990
- Twin PLaza Central — 110 NE 2nd Pl, Cape Coral, FL 33909
- Cape Resale — 1110 NE Pine Island Rd #13, Cape Coral, FL 33909, United States
Frequently Asked Questions
What type of property is this?
Shopping center - Fully occupied neighborhood retail property with masonry construction and flexible demising potential.
Where is this shopping center located?
The property is located at 110 NE 2nd Pl Cape Coral, FL.
What is the asking price?
The asking price for this property is $15,000,000.
What are key features of this property?
This property features: 47,377 SF shopping center anchored by Key Food; 100% leased with a diversified tenant roster; Concrete block construction supports demising and future build‑outs
