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    Spectacular Marina View Condo Title is generated by Realmo AI

    2090 MATECUMBE KEY ROAD 1505, Punta Gorda, FL 33955

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    For Sale
    $475,000

    Furnished condo with panoramic views and deeded parking garages.

    Type:Condo/Townhome
    Property size:
    1,155 SF
    Lot size:
    0.30 Acres
    Price / SF:
    $411/SF
    Added:
    Sep 21, 2024
    Days on Market:
    624
    Last Refresh:
    May 20 at 12:28 am

    Property Features for 2090 MATECUMBE KEY ROAD 1505

    General Information

    Standard status
    Active
    Size
    1,155 SF
    Lot size
    0.30 Acres
    Property subtype
    Condo/Townhome

    Building Details

    Year Built
    1998

    We can help!

    Listing Contact
    Joyce Dersa

    Listing agent Joyce Dersa License #552575

    Listing office CENTURY 21 SUNBELT BURNT STORE

    Listing date Sep 21, 2024

    Source Exitrealty

    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 CENTURY 21 SUNBELT BURNT STORE

    HighLights

    • Spectacular 5th‑floor panoramic views of the North Basin in Burnt Store Marina
    • Includes 2 deeded, covered parking garages, one with storage
    • Turnkey and fully furnished condo
    • Located in a resort community with 24/7 manned security gates
    • Access to a wide range of amenities including multiple dining venues, golf, boating, health club, and social activities (some with separate fees)
    • New full lanai hurricane screen and 1400 Watt Low Noise Generator

    Overview

    This fully furnished condo offers a spectacular panoramic view of the North Basin in Burnt Store Marina. The property includes two deeded covered parking garages, one with storage. The kitchen features bamboo cabinetry, lighted uppers with bamboo glass doors, corner Lazy Susan cabinets, granite countertops, pearl tile backsplash, and custom track lighting. Bedroom one has a wood floor, crown molding, a Murphy Bed/Book Shelf, a custom fan, and lanai access. The primary bedroom ensuite includes bamboo cabinetry with granite counters, a pearl tile backsplash, and a ceiling mural. A custom barn door provides privacy for the water closet, and the shower/tub has Bluetooth lighting. The lanai is equipped with a new full hurricane screen, a 1400 Watt low noise generator, a boxed bike rack, and a patio refrigerator. A tropical mural enhances the lanai's ambiance. The resort community offers 24/7 manned security gates, underground utilities, a doggie park, and golf cart, hiking, and biking trails. Dining options include The Trading Post/Waterfront, Cass Cay, and The Linkside at the Country Club. A pro shop is available for golfers. Amenities include a health club, tennis/pickleball courts, a 27-hole executive golf course, a social membership, bocci ball, and live entertainment. Boating enthusiasts can enjoy the deep water marina, wet slips, dry docks, and a yacht club. The Freedom Boat Club provides boat access through membership. Burnt Store Marina is owned by Safe Harbor.
    Location Intelligence

    Current Use by Public Records

    Punta Gorda Getaways Real Estate Agency

    Suggested Use

    Real Estate Agency Law Firm Restaurant Gym & Fitness Center Kitchen & Bath Showroom Big Box & Wholesale Store Department Store Hotel & Motel Cosmetic Store Storage Facility

    Zoning and permitted uses should be independently verified with local authorities.

    Location Insight

    • Map
    • Local Demand
    City
    Punta Gorda
    County
    Charlotte
    State
    Florida
    Longitude
    -82.055414
    Latitude
    26.7642913

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    FAQs

    What type of property is this?
    Residential income property - Furnished condo with panoramic views and deeded parking garages.
    Where is this residential income property located?
    The property is located at 2090 MATECUMBE KEY ROAD 1505 Punta Gorda, FL.
    What is the asking price?
    The asking price for this property is $475,000.
    What are key features of this property?
    This property features: Spectacular 5th‑floor panoramic views of the North Basin in Burnt Store Marina; Includes 2 deeded, covered parking garages, one with storage; Turnkey and fully furnished condo
    (941) 268-6060
    We can help!
    Listing Contact
    Joyce Dersa
    Real Estate License ID: 552575
    Learn More
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    Realmo Value Estimations

    Realmo estimates a property’s market value using a proprietary methodology that incorporates public data and user-submitted information. This cumulative value is generated by integrating a variety of conventional and innovative methods. 

    Disclaimer

    These figures are not official appraisals and should not be used as a substitute for a valuation performed by a licensed appraiser.
    Actual market value may differ due to factors not captured in the data. Estimates are offered for informational purposes only, and users should conduct independent research before making financial or investment decisions.
    By using this feature, you acknowledge that Realmo is not responsible for actions taken based on these estimates.

    AI approach

    Realmo AI Method estimates property value using machine learning models trained on millions of comparable listings, transactions, and market signals. It analyzes property features, location intelligence data, and current market dynamics to predict the most probable market value in real time.

    Realmo CapRate Calculation

    Realmo calculates the Capitalization Rate (Cap Rate) to help estimate a property's potential return on investment. The Cap Rate is a fundamental metric in commercial real estate that measures the relationship between a property's net operating income and its market value.

    How We Calculate Cap Rate

    Cap Rate Formula:
    Cap Rate (%) = (Net Operating Income / Property Value) × 100

    Net Operating Income (NOI) Formula:
    NOI = Area × Lease Rate × (1 - Vacancy Rate) × (1 - Operating Expense Ratio)

    Components

    Net Operating Income (NOI) represents the annual income a property generates after operating expenses:

    • Area: Building square footage from property records
    • Lease Rate: Annual $/sqft based on market data for the property type and geographic location
    • Vacancy Rate: Percentage of unoccupied space based on market data for the property type and location
    • Operating Expense Ratio: Operating costs as a percentage of income, varies by property type

    Property Value is derived from:

    • Recent sale price (if available)
    • Statistical models using comparable sales
    • AI-powered valuation estimates

    Example Calculation

    For a 100,000 sqft Office Building:

    • Lease Rate: $25.00/sqft/year (market data for Office in this area)
    • Vacancy Rate: 8% (market data for Office in this area)
    • Operating Expense Ratio: 35% (typical for Office properties)
    • Property Value: $15,000,000

    Step 1: Calculate NOI

    NOI = 100,000 × $25.00 × (1 - 0.08) × (1 - 0.35)
    NOI = 100,000 × $25.00 × 0.92 × 0.65
    NOI = $1,495,000/year

    Step 2: Calculate Cap Rate

    Cap Rate = ($1,495,000 / $15,000,000) × 100
    Cap Rate = 9.97%

    Property Type Considerations

    Net Operating Income calculations vary by property type due to different operating expense ratios:

    • Office: Higher expenses (30-40%) for HVAC, utilities, maintenance
    • Retail: Moderate expenses (25-35%) for common area maintenance
    • Industrial/Warehouse: Lower expenses (15-25%) for minimal tenant services
    • Multifamily: Moderate expenses (35-45%) including property management
    • Self-Storage: Lower expenses (25-35%) due to minimal maintenance

    Market lease rates and vacancy rates are specific to each property type and geographic location, reflecting local market conditions.

    Disclaimer

    These calculations are estimates for informational purposes only and should not be used as a substitute for professional financial analysis or appraisal.

    • Cap Rate calculations depend on market data that may change over time
    • Actual operating expenses, lease rates, and vacancy rates may differ from market averages
    • Individual property conditions, lease terms, and tenant quality significantly impact actual NOI
    • Property value estimates are approximations and not official appraisals
    • Cap rates vary widely by market, property condition, and investment risk profile

    Professional Guidance Recommended: Before making any investment or financial decisions, consult with licensed appraisers, commercial real estate brokers, and financial advisors who can evaluate your specific property and circumstances.
    By using this feature, you acknowledge that Realmo is not responsible for investment decisions or actions taken based on these estimates.

    Cap approach

    Capitalization Method calculates value based on estimated net operating income (NOI) and applying a market-based capitalization rate (cap rate), we estimate what a typical investor might be willing to pay for it.

    Comparable approach

    Comparable estimate is based on recent sales of similar nearby properties, adjusted for factors like size, condition, and location.

    Relative

    Relative property class coefficient uses factors that account for typical price differences between various asset types (e.g., retail vs. industrial) to provide a more accurate market-aligned estimate.

    Geo

    Comparable Sales Method, enhanced by Geo coefficients — location-based adjustment factors that reflect differences in price levels across neighborhoods, cities, or regions ensuring a more accurate, market-sensitive valuation.

    Stat Estimate

    This method estimates value based on actual market adjusted recent (~5 years) sales of comparable properties around by location and property type.

    • Ranges - area data calculated by industry standard IQR Outlier Removal Method
    • Range-from: 75% of all similar sales ($/sqft) are above this value
    • Range-to: 75% of all similar sales ($/sqft) are below this value
    AI Estimate

    This method estimates value based on AI market estimation of comparable properties around by location and property type.

    • Ranges - area data calculated by industry standard IQR Outlier Removal Method
    • Range-from: 75% of all estimations ($/sqft) are above this value
    • Range-to: 75% of all estimations ($/sqft) are below this value
    Alternative use

    Estimate considers the property’s potential value if used for a different purpose-based on zoning, demand, and market feasibility.

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    2090 MATECUMBE KEY ROAD 1505, PUNTA GORDA, FL 33955
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