Waterfront Condo in Parker
For Sale
$264,900
14980 Vista View Way 204, Fort Myers, FL 33919
Immaculate 2-bed, 2-bath condo with waterfront views and amenities.
Property Size1,387 SF
Price / SF$190.99
Days on Market564
Property Features for 14980 Vista View Way 204
General Information
Standard status
Active
Size
1,387 SF
Property subtype
Condo/Townhome
Taxes and HOA fees
Annual Taxes
$3,105
Building Details
Year Built
1997
Listing Agency:
Berkshire Hathaway Florida
(239) 464-2844
Listed By:
Michael Vincent · License #258007628
(239) 464-2844
Source:
Exitrealty
Added: Jan 23, 2025
Changed: Aug 8
Last Checked: Aug 10 at 4:04AM
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 Berkshire Hathaway Florida
Investment Insights
Based on property information with market context.
Located in Grandview of Parker Lakes, this first-floor end unit condo features two bedrooms, a den, and two bathrooms. The property offers panoramic waterfront views in a park-like setting. The community is family and pet friendly. Recent upgrades include new flooring, newer appliances, and a guest bath. A roll-down shutter on the screened lanai serves as both storm protection and a retractable sun shade. The roofs were replaced in 2020, and the exterior lighting and paint were updated in 2024. The monthly HOA fee includes water, cable, and Wi-Fi/internet. Parker Lakes offers amenities such as a clubhouse, heated community pool and spa, lap pool, gym, tennis, pickleball, basketball, racquetball, fishing pier, playground, and picnic pavilion. Grandview also has a party pad with a BBQ grill. The property is located in South Fort Myers, offering convenient access to various destinations. The unit is move-in ready and suitable for seasonal or year-round living. The property size is 1387 square feet.
Key Highlights
- Panoramic waterfront views in a park‑like setting.
- Extensive community amenities: clubhouse, multiple pools, gym, tennis, pickleball, basketball, racquetball, fishing pier, playground, and picnic pavilion.
- First floor end unit with 2 bedrooms + den and 2 bathrooms.
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
$17,013
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
6.42%
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%
$340,260
$340.3K
Cap Rate 7%
$243,043
$243.0K
Cap Rate 9%
$189,033
$189.0K
Market Conditions
NOI Build-Up for 1,387 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
$32.3K $23.28/SF
− Vacancy
−$1.4K −$0.98/SF
EGI
$30.9K $22.30/SF
− OpEx
−$13.9K −$10.04/SF
NOI
$17.0K $12.27/SF
Area
Lee County, FL
Vacancy
4.20%
Lease Rate
$23.28 /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%
$340,260
Cap Rate 7%
$243,043
Cap Rate 9%
$189,033
Alternative Uses
Best Use
Apartment 5plus
$243.0K
$212.7K – $283.6K
NOI $17,013 @ 7.0% cap · market cap 6.42%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$436.5K
$382.0K – $509.3K
NOI $30,558 @ 7.0% cap · market cap 11.54%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Location Intelligence
Trade Area within ½ mile
344
Businesses Nearby
Explore this area
Business Placement
Demographics for 33919, FL
30,587
Population
19,560
Households
1.6
Avg Household Size
57
Median Age
41%
College-Educated
95%
High-School Grad
8.7 sq mi
ZIP Area
3,516
Density / Sq Mi
$73,336
Median Household Income
$48,686
Median Earnings
$1,621
Median Rent
$291,500
Median Home Value
Questions? Ask Rey
Realmo’s AI knows this listing — price, zoning, demand, history. Ask anything.
Frequently Asked Questions
What type of property is this?
Residential income property - Immaculate 2-bed, 2-bath condo with waterfront views and amenities.
Where is this residential income property located?
The property is located at 14980 Vista View Way 204 Fort Myers, FL.
What is the asking price?
The asking price for this property is $264,900.
What are key features of this property?
This property features: Panoramic waterfront views in a park‑like setting.; Extensive community amenities: clubhouse, multiple pools, gym, tennis, pickleball, basketball, racquetball, fishing pier, playground, and picnic pavilion.; First floor end unit with 2 bedrooms + den and 2 bathrooms.
