Add Listing
    For Sale
    • For Sale
    • For Lease
    • Recently Sold
    • Property Lookup
    • Brokers
    AI Search
    Back to Search
    The Largest CRE Database in the US with Over 1 Million Listings

    506 SE 47th Terrace Cape Coral, FL 33904

    View on Map
    Sponsored
    Source: https://svn.com
    For Sale
    Contact for pricing

    Medical Office Building For Sale

    Property size:
    4,891 SF

    Property Features for 506 SE 47th Terrace

    General Information

    Property type
    Medical Office Space
    Square Feet
    4,891 SF
    Class
    C
    Elevators
    N/A

    Building Details

    Buildings
    1
    Stories
    1

    Overview

    Medical Office Building with MRI

    This medical office building is located in the busy Cape Coral downtown area, near the corner of Cape Coral Parkway and Palm Tree Blvd. The office buildout includes an MRI room and an X-ray room constructed to code for medical imaging standards, with approximately $2,000,000 in improvements. The property is situated next door to the current Lee Physician Group for Internal Medicine in the Lee Memorial Health System-owned building. The building is one parcel from Cape Coral Parkway, which experiences over 35,000 AADT at Cape Coral Parkway E. and Palm Tree Drive. A new Lee Health Clinic at Bimini Square is expected to occupy most of the 1st floor and is slated to open Summer of 2025. The project includes retail, office, a waterfront restaurant, and 218 apartments. It is located on the south side of Cape Coral Pky. The property is 4891 square feet. The location benefits from a growing population, with Lee County adding 90 residents per day. The property currently has two tenants: an imaging center (owner-user) and Physician Services & Rehab (short-term tenant).

    We can help!

    Listing Contact
    John Albion

    Learn more

    Property Insight Report

    HighLights

    • The MRI and X‑ray rooms include approximately $2,000,000 in improvements Next door to the current Lee Physician Group for Internal Medicine in the Lee Memorial Health System‑owned building. New Lee Health Clinic at Bimini Square is expected to occupy most of the 1st floor and is slated to open Summer of 2025. The project includes retail, office, a waterfront restaurant, and 218 apartments. It is located on the south side of Cape Coral Pky. Over 35,000 AADT at Cape Coral Parkway E. and Palm Tree Drive (building is one parcel from Cape Coral Parkway). Growing population - Lee County is adding 90 residents per day.
    Property Profile Insight Report Location Intelligence

    Current Use by Public Records

    MD Solutions LLC (Bike/Boat/Book/etc) Store RX Imaging of SWFL Medical Clinic Radiology Mir Ct ... Medical Clinic healthy community center Crisis Center Dr. Robert K. ... Physician

    Suggested Use

    Restaurant Law Firm Real Estate Agency Spa & Massage Center Dental Office Hair Salon Nail Salon Building Supply Auto Repair Shop Gym & Fitness Center

    Zoning and permitted uses should be independently verified with local authorities.

    Location Insight

    • Map
    • Local Demand
    City
    Cape Coral
    State
    Florida
    Longitude
    -81.9420262
    Latitude
    26.5637234

    Nearby Similar for Sale

    • New
      $985,000
      4,250 SF

      Cape Coral Industrial Flex Opportunity

      Industrial flex building with two units and income potential.
      909 SE 13Th Pl, Cape Coral, FL 33990
      View Details
    • $899,000
      2,100 SF

      Cape Coral Investment Opportunity

      Prime commercial building in Downtown Cape location with immediate income.
      820 Cape Coral Pkwy E, Cape Coral, FL 33904
      View Details
    • $450,000
      1,470 SF

      New Flex Warehouse Development

      Modern flex warehouse development suitable for various business uses.
      1520/1526 SW 9Th Pl, Cape Coral, FL 33991
      View Details
    • $450,000
      1,470 SF

      New Flex Warehouse Development

      Modern flex warehouse units suitable for various business uses.
      1520/1526 SW 9Th Pl, Cape Coral, FL 33991
      View Details
    • New
      $1,350,000
      5,920 SF

      Cape Coral Mixed-Use Opportunity

      Two-story building in downtown Cape Coral, ideal for various businesses.
      1313 SE 47Th Ter, Cape Coral, FL 33904
      View Details
    • New
      $1,100,000
      4,000 SF

      Flex Office Warehouse Space Available

      Flex office warehouse for sale or lease in Cape Coral.
      326 NE 3Rd Ave, Cape Coral, FL 33909
      View Details
    • $2,400,000
      8,600 SF

      Versatile Commercial Building in Cape Coral

      Two-story building in downtown Cape Coral suitable for various uses.
      917 SE 47Th Ter, Cape Coral, FL 33904
      View Details
    • $399,000
      1,324 SF

      Cape Coral Flex Space Available

      Flex space in downtown Cape Coral, ready for occupancy.
      4519 SE 16Th Pl, Cape Coral, FL 33904
      View Details
    • $450,000
      1,470 SF

      New Flex Warehouse Development

      Flex warehouse development suitable for business, storage, and professional uses.
      1520/1526 SW 9Th Pl, Cape Coral, FL 33991
      View Details
    • $450,000
      1,470 SF

      New Flex Warehouse Development

      Modern flex warehouse development in Cape Coral, Florida.
      1520/1526 SW 9Th Pl, Cape Coral, FL 33991
      View Details
    • $450,000
      1,470 SF

      New Flex Warehouse Development

      Modern flex warehouse development suitable for various business uses.
      1520/1526 SW 9Th Pl, Cape Coral, FL 33991
      View Details
    • $650,000
      0.74 Acres

      Medical Office Condo Opportunity

      Medical office condo in grey shell condition with impact fees paid.
      217 Del Prado Blvd S, Cape Coral, FL 33990
      View Details

    FAQs

    What type of property is this?
    Medical Office Space - Medical Office Building For Sale
    Where is this medical office space located?
    The property is located at 506 SE 47th Terrace Cape Coral, FL.
    What are key features of this property?
    This property features: The MRI and X-ray rooms include approximately $2,000,000 in improvements Next door to the current Lee Physician Group for Internal Medicine in the Lee Memorial Health System-owned building. New Lee Health Clinic at Bimini Square is expected to occupy most of the 1st floor and is slated to open Summer of 2025. The project includes retail, office, a waterfront restaurant, and 218 apartments. It is located on the south side of Cape Coral Pky. Over 35,000 AADT at Cape Coral Parkway E. and Palm Tree Drive (building is one parcel from Cape Coral Parkway). Growing population - Lee County is adding 90 residents per day.
    (239) 410-2234
    Request Owner's contact information
    506 SE 47th Terrace Cape Coral, FL 33904
    Message sent successfully
    Error
    If you are the owner or broker of this property and would like to edit or remove this listing please send a message to web site administrator.
    506 SE 47th Terrace
    Cape Coral, FL 33904
    Message sent successfully
    Error
    Email to Your Friends
    Link copied to clipboard
    Separate multiple addresses with a comma
    Message sent successfully
    Error

    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.

    More about this property
    506 SE 47th Terrace Cape Coral, FL 33904
    Thanks! Your message was sent.
    Error! Your message wasn't sent.
    Please enter your name
    Please enter email
    Please enter the email in the correct format
    Please enter phone
    Please enter the number in the correct format
    Please enter message
    Thank You

    You are Unsubscribed From Notifications

    We can help!
    Listing Contact
    John Albion
    (239) 410-2234
    Learn more
    Google sign-in failed. Please try again or use another login method.
    Sign Up Successful!
    You now have access to more from Realmo!