Two-Unit Building in CRA
1615 SE 47th Ter Cape Coral, FL 33904
For Sale
$1,072,000
Two-unit building with flexible zoning and income potential.
Property Size3,634 SF
Price / SF$294.99
Days on Market96
Property Features for 1615 SE 47th Ter
General Information
Standard status
Active
Size
3,634 SF
Property subtype
Commercial
Building Details
Year Built
1978
Listing Agency:
Professional Realty Consultants
(239) 851-2090
Listed By:
Jack Britton · License #543610
(239) 851-2090
Source:
Elliman
Added: Apr 24
Changed: Jul 10
Last Checked: Jul 13 at 2:15AM
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 Professional Realty Consultants
Investment Insights
Based on property information with market context.
The property is a 3,634 square foot two-unit building situated within a CRA district. It is zoned SC, offering flexible usage options. Previously, the property has served as an insurance office, real estate office, deli, bakery, and crafts studio. The property can be purchased vacant, with the seller having the right to have tenants vacate upon sale, or it can be purchased occupied. Currently, the property is leased to two tenants, generating a Net Operating Income of $44,816.00 based on the current owner's leases and operating expenses. Both tenants' leases are expiring this year, and both have expressed interest in staying.
Key Highlights
- High Income Potential: Generates $44,816.00 Net Operating Income with current tenants.
- Flexible SC Zoning: Suitable for various business types.
- Two Unit Building: Offers potential for diverse income streams or owner occupancy.
Financial Insights For Retail
Simulate Cap Rate and NOI
NOI Build-Up
- 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.
| Component | $ | $/SF |
|---|---|---|
| Gross rent | $79.8k | $21.96 |
| − Vacancy | −$1.5k | −$0.42 |
| EGI | $78.3k | $21.54 |
| − OpEx | −$23.5k | −$6.46 |
| NOI | $54.8k | $15.08 |
3,634 SF · lease $21.96/SF/yr · vacancy 1.90% · expense 30.00%
Alternative Uses
Best Use
Retail
$782.9K
$685.0K – $913.3K
NOI $54,800 @ 7.0% cap · market cap 5.11%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$942.9K
$825.1K – $1.10M
NOI $66,005 @ 7.0% cap · market cap 6.16%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Location Intelligence
Current Use
Frequently Asked Questions
What type of property is this?
Storefront property - Two-unit building with flexible zoning and income potential.
Where is this storefront property located?
The property is located at 1615 SE 47th Ter Cape Coral, FL.
What is the asking price?
The asking price for this property is $1,072,000.
What are key features of this property?
This property features: High Income Potential: Generates $44,816.00 Net Operating Income with current tenants.; Flexible SC Zoning: Suitable for various business types.; Two Unit Building: Offers potential for diverse income streams or owner occupancy.
