8-Unit Apartment
For Sale
$1,599,000
1215 CAPRICORN Boulevard, Punta Gorda, FL 33983
Residential Income, PUNTA GORDA, FL
Property Size8,664 SF
Lot Size0.78 Acres
Price / SF$184.56
Days on Market326
Property Features for 1215 CAPRICORN Boulevard
General Information
Property type
Residential Multi Family
Property subtype
Other
Property condition
Under Construction
Zoning
RMF15
Bedrooms
16
Bathrooms
8
Full bathrooms
8
Rooms
Bedroom 10, Bathroom 3, Bathroom 4, Bathroom 1, Bedroom 15, Bedroom 6, Bedroom 9, Bedroom 4, Bedroom 11, Bedroom 13, Bedroom 3, Bedroom 1, Bedroom 14, Bedroom 8, Bathroom 2, Bathroom 6, Bedroom 5, Bathroom 7, Bedroom 16, Bathroom 8, Bedroom 12, Bedroom 7, Bedroom 2, Bathroom 5
Parking features
Driveway
Window features
Storm Window(s)
Patio and Porch features
Porch
Pets allowed
Yes
Interior features
Ceiling Fans(s), Eat-in Kitchen
Exterior features
Lighting
Appliances
Dishwasher, Disposal, Microwave, Range, Refrigerator, Tankless Water Heater
Subdivision
PUNTA GORDA ISLES SEC 23
Lot features
Oversized Lot
Elementary school
Deep Creek Elementary
Middle school
Punta Gorda Middle
High school
Charlotte High
Directions
Kings Hwy to (R) Rampart (L) Capricorn or Kings Hwy (R) Sandhill Blvd to (R) Capricorn
Standard status
Active
APN
402307281006
Size
8,664 SF
Lot size
0.78 Acres
Taxes and HOA fees
Tax Year
2024
Tax Description
PGI 023 0683 0035 PUNTA GORDA ISLES SEC23 BLK683 LT35 668/751 966-408 1219/1060 2939/1134 4777/1340 3381911 3439843
Tax Annual Amount
1522
Legal Description
PGI 023 0683 0035 PUNTA GORDA ISLES SEC23 BLK683 LT35 668/751 966-408 1219/1060 2939/1134 4777/1340 3381911 3439843
Utilities
Sewer type
Public Sewer
Heating system
Electric (Heating), Central
Cooling system
Central Air
Water source
Public
Building Details
Year built
2025
Floors in Building
2
Number of units
8
Flooring type
Tile - Ceramic
Building materials
Block
Roof type
Shingle
Listing Agency:
RE/MAX PALM REALTY · RE/MAX International
(941) 743-5525
Listed By:
Bryan French · License #657517
(941) 661-1183
Added: Oct 31, 2025
Changed: Sep 12
Last Checked: Sep 21 at 8:06AM
MLS# C7516987
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.
Located at 1215 Capricorn Boulevard in Punta Gorda, this 8-unit apartment property is under construction on a 0.78-acre site. The 8,664-square-foot development is planned with eight two-bedroom, one-bath residences, each measuring approximately 1,083 square feet. Interior specifications include ceramic tile flooring, granite countertops, stainless steel appliances, cabinetry, hurricane-impact windows, and tankless water heaters.
The property carries RMF15 zoning and is served by public water and public sewer. Central heating and cooling, block construction, shingle roofing, porches, driveway parking, and exterior lighting are included. Permits are transferable to the new owner, and the seller/builder is available to assist with the remaining completion work under mutually acceptable terms. The project is situated in the Deep Creek area of Punta Gorda, Florida.
The property carries RMF15 zoning and is served by public water and public sewer. Central heating and cooling, block construction, shingle roofing, porches, driveway parking, and exterior lighting are included. Permits are transferable to the new owner, and the seller/builder is available to assist with the remaining completion work under mutually acceptable terms. The project is situated in the Deep Creek area of Punta Gorda, Florida.
Key Highlights
- 8‑unit apartment development with 8,664 square feet of property size
- Eight 2‑bedroom, 1‑bath units with approximately 1,083 sq. ft. each
- 0.78‑acre site in the Deep Creek area of Punta Gorda
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
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Open Analytics
Current Use
Lease Details
8
Residential units
Location Intelligence
Trade Area within ½ mile
322
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
Check the figures for this property
Cap Rate, Value Estimation, Potential NOI and more
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Market
Vacancy Rate% for Multifamily in South region
Questions? Ask Rey
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Frequently Asked Questions
What type of property is this?
Apartment building - Nearly finished RMF15 multifamily development with two-bedroom layouts, modern interiors, and transferable permits.
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: 8‑unit apartment development with 8,664 square feet of property size; Eight 2‑bedroom, 1‑bath units with approximately 1,083 sq. ft. each; 0.78‑acre site in the Deep Creek area of Punta Gorda
