Waterfront Side-by-Side
For Sale
$600,000
Pending
2626 MAGDALINA DRIVE 1&2, Punta Gorda, FL 33950
Two residences offer private garage space, screened lanais, separate utility meters, and canal access.
Property Size2,076 SF
Days on Market782
Property Features for 2626 MAGDALINA DRIVE 1&2
General Information
Standard status
Pending
Size
2,076 SF
Total Parking Spaces
2
Property subtype
Multi Family
Units
Unit Mix
2 x 2BR/2BA
Multifamily Units
2
Additional Details
Utilities to Site
Yes
Taxes and HOA fees
Annual Taxes
$6,908
Amenities
waterfront
concrete dock
powerboat access
screened lanai
laundry facilities
Building Details
Year Built
1987
Buildings
1
Listing Agency:
MVP REALTY ASSOCIATES, LLC
(941) 961-3285
Listed By:
Nolan Springman · License #3340497
(941) 961-3285
Source:
Exitrealty
Added: Jul 10, 2024
Changed: Aug 29
Last Checked: Aug 29 at 3:23PM
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 MVP REALTY ASSOCIATES, LLC
Investment Insights
Based on property information with market context.
This side-by-side duplex contains 2,076 square feet and was built in 1987. Each residence includes 2 bedrooms, 2 bathrooms, a kitchen, great room, ample closet storage, and a 180 SF screened lanai. One bathroom in each unit has a walk-in shower, while the other includes a tub/shower combination. Carpet and tile flooring are installed throughout, and each unit has a one-car garage with laundry facilities.
The property fronts a canal in Punta Gorda Isles and includes a 70-foot concrete seawall, concrete dock, and powerboat access to Charlotte Harbor and the Gulf of Mexico. Separate water and electric meters serve the units. The building is currently occupied by tenants, and showings require 24-hour notice. Historic downtown Punta Gorda, waterfront parks, boat ramps, fishing piers, walking and biking paths, shopping, dining, and medical care are located minutes away.
The property fronts a canal in Punta Gorda Isles and includes a 70-foot concrete seawall, concrete dock, and powerboat access to Charlotte Harbor and the Gulf of Mexico. Separate water and electric meters serve the units. The building is currently occupied by tenants, and showings require 24-hour notice. Historic downtown Punta Gorda, waterfront parks, boat ramps, fishing piers, walking and biking paths, shopping, dining, and medical care are located minutes away.
Key Highlights
- Waterfront duplex in Punta Gorda Isles with canal views and a 70‑foot concrete seawall
- Concrete dock with powerboat access to Charlotte Harbor and the Gulf of Mexico
- 2,076 square feet built in 1987
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
$20,082
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
3.35%
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%
$401,640
$401.6K
Cap Rate 7%
$286,886
$286.9K
Cap Rate 9%
$223,133
$223.1K
Market Conditions
NOI Build-Up for 2,076 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
$35.4K $17.04/SF
− Vacancy
−$6.7K −$3.22/SF
EGI
$28.7K $13.82/SF
− OpEx
−$8.6K −$4.15/SF
NOI
$20.1K $9.67/SF
Area
Charlotte County, FL
Vacancy
18.90%
Lease Rate
$17.04 /SF/Yr
Expense Ratio
30.00%
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%
$401,640
Cap Rate 7%
$286,886
Cap Rate 9%
$223,133
Alternative Uses
Best Use
Multifamily LT 5
$286.9K
$251.0K – $334.7K
NOI $20,082 @ 7.0% cap · market cap 3.35%
Second Best
Apartment 5plus
$261.8K
$229.1K – $305.5K
NOI $18,328 @ 7.0% cap · market cap 3.05%
Theoretical Best
Office A
$679.7K
$594.8K – $793.0K
NOI $47,582 @ 7.0% cap · market cap 7.93%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Current Use
Lease Details
2
Residential units
Yes
Utilities to site
Location Intelligence
Trade Area within ½ mile
359
Businesses Nearby
Explore this area
Business Placement
Demographics for 33950, FL
24,984
Population
16,748
Households
1.5
Avg Household Size
66
Median Age
36%
College-Educated
95%
High-School Grad
17.8 sq mi
ZIP Area
1,404
Density / Sq Mi
$74,484
Median Household Income
$46,032
Median Earnings
$1,192
Median Rent
$393,500
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?
Duplex - Two residences offer private garage space, screened lanais, separate utility meters, and canal access.
Where is this duplex located?
The property is located at 2626 MAGDALINA DRIVE 1&2 Punta Gorda, FL.
What is the asking price?
The asking price for this property is $600,000.
What are key features of this property?
This property features: Waterfront duplex in Punta Gorda Isles with canal views and a 70‑foot concrete seawall; Concrete dock with powerboat access to Charlotte Harbor and the Gulf of Mexico; 2,076 square feet built in 1987
