Under Construction 8-Unit
For Sale
$1,599,000
1215 CAPRICORN Blvd, Punta Gorda, FL 33983
Nearly completed 8-unit complex in Deep Creek Community.
Property Size8,664 SF
Lot Size0.78 Acres
Price / SF$184.56
Days on Market175
Property Features for 1215 CAPRICORN Blvd
General Information
Standard status
Active
Size
8,664 SF
Lot size
0.78 Acres
Property subtype
Investment
Taxes and HOA fees
Annual Taxes
$1,521
Building Details
Building Size
8,664 SF
Year Built
2025
Units
8
Listing Agency:
RE/MAX Palm Realty
(941) 661-1183
Listed By:
Bryan French · License #657517
(941) 661-1183
Source:
Elliman
Added: Mar 10
Changed: Aug 27
Last Checked: Aug 30 at 5:31PM
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 RE/MAX Palm Realty
Investment Insights
Based on property information with market context.
An under-construction, 8-unit complex is available, offering an opportunity for investors or builders to complete the project. Located in the Deep Creek Community, each unit features 2 bedrooms, 1 bathroom, and 1,083 sq. ft. of living space. Kitchens are equipped with stainless steel appliances, granite countertops, and ample cabinet space. Bathrooms include large vanities with storage, lighted mirrors, and tiled tub/shower combinations. Tile flooring is installed throughout each unit. The complex also features hurricane-impact windows and tankless water heaters. The builder can complete the project, or an investor can negotiate taking over the project; a detailed breakdown of remaining items with estimated completion costs and contractor contacts is available. Permits are transferrable to the new buyer. This property represents a chance to acquire a high-demand, income-producing property.
Key Highlights
- Nearly completed 8‑unit complex: Immediate income potential upon completion.
- Transferable permits: Ensures a smooth and quick project completion process.
- Each unit features 2 bedrooms, 1 bathroom, and 1,083 sq. ft.: Ideal for attracting a wide range of renters.
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
$76,491
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
4.78%
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%
$1,529,820
$1.5M
Cap Rate 7%
$1,092,729
$1.1M
Cap Rate 9%
$849,900
$849.9K
Market Conditions
NOI Build-Up for 8,664 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
$173.6K $20.04/SF
− Vacancy
−$34.6K −$3.99/SF
EGI
$139.1K $16.05/SF
− OpEx
−$62.6K −$7.22/SF
NOI
$76.5K $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%
$1,529,820
Cap Rate 7%
$1,092,729
Cap Rate 9%
$849,900
Alternative Uses
Best Use
Apartment 5plus
$1.09M
$956.1K – $1.27M
NOI $76,491 @ 7.0% cap · market cap 4.78%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$2.84M
$2.48M – $3.31M
NOI $198,579 @ 7.0% cap · market cap 12.42%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Location Intelligence
Trade Area within ½ mile
127
Businesses Nearby
Explore this area
Business Placement
Demographics for 33983, FL
16,124
Population
9,114
Households
1.8
Avg Household Size
58
Median Age
22%
College-Educated
94%
High-School Grad
10.6 sq mi
ZIP Area
1,521
Density / Sq Mi
$67,705
Median Household Income
$36,748
Median Earnings
$1,357
Median Rent
$324,100
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 - Nearly completed 8-unit complex in Deep Creek Community.
Where is this apartment building located?
The property is located at 1215 CAPRICORN Blvd Punta Gorda, FL.
What is the asking price?
The asking price for this property is $1,599,000.
What are key features of this property?
This property features: Nearly completed 8‑unit complex: **Immediate income potential upon completion.**; Transferable permits: Ensures a smooth and quick project completion process.; Each unit features 2 bedrooms, 1 bathroom, and 1,083 sq. ft.: Ideal for attracting a wide range of renters.
