Lakefront Apartment
For Sale
$1,400,000
11021 and 11059 TAMIAMI Trail, Punta Gorda, FL 33955
Commercial Sale, PUNTA GORDA, FL
Property Size6,726 SF
Lot Size2.58 Acres
Price / SF$208.15
Days on Market840
Property Features for 11021 and 11059 TAMIAMI Trail
General Information
Property type
Commercial Sale
Property subtype
Other
Zoning
CG
Subdivision
S P G HEIGHTS 1ST ADD
Lot features
Paved
Directions
FROM DOWNTOWN PUNTA GORDA GO NORTH ON US 41 FOR 4.9 MILES....TWO ENTRANCES TO THE PROPERTY ARE JUST PAST PINETRAIL ROAD
Standard status
Active
APN
412334106001
Lot size
2.58 Acres
Taxes and HOA fees
Tax Year
2023
Tax Description
SPG 001 0000 001B S P G HTS 1ST ADD LTS 1B & 2B LESS SRD R/W 469/514 514/928 CASE#75-763 587/1487 DC674/960 1050/237 1282/459 3287/1334 DC3706/1186/-DCJH PR18-1217-DH LOA4394/837 4399/1176 SPG 001 0000 003B S P G HTS 1ST ADD LTS 3B & 4B LESS S......S P G HTS 1ST ADD LT 5B LESS SRD R/W 174/230 455/527 1050/237 469/510 DC626/1506 626/1504 1282/459 3287/1334 DC3706/1186-DCJH 4023/489 4023/492 4023/494 4023/496 PR18-1217-DH LOA4394/837 4399/1176
Tax Annual Amount
14445
Legal Description
SPG 001 0000 001B S P G HTS 1ST ADD LTS 1B & 2B LESS SRD R/W 469/514 514/928 CASE#75-763 587/1487 DC674/960 1050/237 1282/459 3287/1334 DC3706/1186/-DCJH PR18-1217-DH LOA4394/837 4399/1176 SPG 001 0000 003B S P G HTS 1ST ADD LTS 3B & 4B LESS S......S P G HTS 1ST ADD LT 5B LESS SRD R/W 174/230 455/527 1050/237 469/510 DC626/1506 626/1504 1282/459 3287/1334 DC3706/1186-DCJH 4023/489 4023/492 4023/494 4023/496 PR18-1217-DH LOA4394/837 4399/1176
Utilities
Water front features
Lake Front
Water front
1
Amenities
chain link fence
concrete paving
Building Details
Year built
1957
Number of units
11
Building materials
Block, Metal Frame, Stucco, Vinyl Siding, Frame
Roof type
Shingle
Listing Agency:
RE/MAX ALLIANCE GROUP · RE/MAX International
(941) 639-1376
Listed By:
Gerald Hayes · License #625093
(941) 456-1155
Added: May 15, 2024
Changed: Aug 24
Last Checked: Sep 1 at 4:06AM
MLS# C7492810
Copyright © 2026 Stellar MLS. 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 CG-zoned property includes two adjacent parcels totaling 2.58 acres and 112,459 SF. The improved parcel contains four one-story structures built in 1957: a five-unit building, a four-unit building, a two-unit building, and a 1,400 SF shed. Construction includes block, stucco, metal frame, wood frame, and siding, with composition roll or shingle roofing. The site also includes chain-link fencing and concrete paving.
The combined property extends along Tamiami Trail/US 41 with 488 feet of highway frontage. The vacant parcel provides 100 feet of lake frontage, while portions of the improved parcel add another 130 feet for a combined 230 feet along the lake. Punta Gorda Airport and historic downtown Punta Gorda are each approximately 10 minutes away, with downtown amenities including shopping, dining, medical care, waterfront parks, boat ramps, fishing piers, walking and biking paths, art galleries, Fishermen’s Village, and the Charlotte Harbor Event Center.
The combined property extends along Tamiami Trail/US 41 with 488 feet of highway frontage. The vacant parcel provides 100 feet of lake frontage, while portions of the improved parcel add another 130 feet for a combined 230 feet along the lake. Punta Gorda Airport and historic downtown Punta Gorda are each approximately 10 minutes away, with downtown amenities including shopping, dining, medical care, waterfront parks, boat ramps, fishing piers, walking and biking paths, art galleries, Fishermen’s Village, and the Charlotte Harbor Event Center.
Key Highlights
- Two adjacent parcels totaling 2.58 ACRES / 112,459 SF
- 488 feet of frontage on Tamiami Trail / US 41
- Four buildings on the improved parcel, including 5-, 4-, and 2‑unit structures
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
$59,381
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
4.24%
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%
$1,187,620
$1.2M
Cap Rate 7%
$848,300
$848.3K
Cap Rate 9%
$659,789
$659.8K
Market Conditions
NOI Build-Up for 6,726 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
$134.8K $20.04/SF
− Vacancy
−$26.8K −$3.99/SF
EGI
$108.0K $16.05/SF
− OpEx
−$48.6K −$7.22/SF
NOI
$59.4K $8.83/SF
Area
Charlotte County, FL
Vacancy
19.90%
Lease Rate
$20.04 /SF/Yr
Expense Ratio
45.00%
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%
$1,187,620
Cap Rate 7%
$848,300
Cap Rate 9%
$659,789
Alternative Uses
Best Use
Apartment 5plus
$848.3K
$742.3K – $989.7K
NOI $59,381 @ 7.0% cap · market cap 4.24%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$2.20M
$1.93M – $2.57M
NOI $154,160 @ 7.0% cap · market cap 11.01%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
11
Residential units
Yes
Fenced yard
Yes
Highway access
Yes
Paved road access
Location Intelligence
Trade Area within ½ mile
110
Businesses Nearby
Explore this area
Business Placement
Demographics for 33955, FL
10,071
Population
6,872
Households
1.5
Avg Household Size
63
Median Age
31%
College-Educated
90%
High-School Grad
78.4 sq mi
ZIP Area
128
Density / Sq Mi
$76,733
Median Household Income
$38,971
Median Earnings
$1,559
Median Rent
$321,500
Median Home Value
Market
Vacancy Rate% for Multifamily in South region
Questions? Ask Rey
Realmo’s AI knows this listing — price, zoning, demand, history. Ask anything.
Frequently Asked Questions
What type of property is this?
Apartment building - CG-zoned multifamily property combines existing residential buildings with an adjoining vacant commercial parcel.
Where is this apartment building located?
The property is located at 11021 and 11059 TAMIAMI Trail Punta Gorda, FL.
What is the asking price?
The asking price for this property is $1,400,000.
What are key features of this property?
This property features: Two adjacent parcels totaling 2.58 ACRES / 112,459 SF; 488 feet of frontage on Tamiami Trail / US 41; Four buildings on the improved parcel, including 5-, 4-, and 2‑unit structures
