Under Construction 8-Unit
For Sale
$1,599,000
1215 Capricorn Boulevard, Punta Gorda, FL 33983
Nearly completed 8-unit complex in Deep Creek Community.
Property Size8,664 SF
Price / SF$184.56
Days on Market221
Property Features for 1215 Capricorn Boulevard
General Information
Standard status
Active
Size
8,664 SF
Property subtype
Multi-Family
Building Details
Year Built
2025
Listing Agency:
RE/MAX PALM REALTY
Listed By:
Bryan French · License #657517
(941) 661-1183
Source:
Whitesandsfl
Added: Mar 10
Changed: Oct 14
Last Checked: Oct 7 at 4:00PM
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
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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 / Yr
$76,491
Cap Rate
4.78%
Suggested Prices Based on Cap Rates
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
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 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.
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Current Use
Location Intelligence
Trade Area within ½ mile
322
Businesses Nearby
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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
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Cap Rate, Value Estimation, Potential NOI and more
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Market
Vacancy Rate% for Multifamily in South region
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 Boulevard 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.
