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    Double-Buildable Airstrip Hangar Lot Title is generated by Realmo AI

    210 Mourning Dove Drive Upper, Captiva, FL 33924

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    Claim this Listing
    For Sale
    $250,000

    LAND - Upper Captiva, FL

    Lot size:
    0.22 Acres
    Added:
    Mar 13, 2024
    Days on Market:
    814
    Last Refresh:
    Jun 4 at 3:06 pm

    Property Features for 210 Mourning Dove Drive Upper

    General Information

    Property type
    Land
    Property subtype
    Other
    Standard status
    Active
    APN
    32-44-21-02-0000D.0040
    Lot size
    0.22 Acres

    Taxes and HOA fees

    Tax Year
    2023
    Tax Description
    PARL IN G L 3 AS DESC IN OR 1995 PG 4662 AKA BLK D LT 4
    Tax Annual Amount
    1785

    Utilities

    Water source
    Well

    We can help!

    Listing Contact
    Rhonda Milligan

    Listing agent Rhonda Milligan License #258007315

    Listing office The Keyes Company 4707 SE 9 place, Fort Myers, FL

    Listing date Mar 13, 2024

    MLS# 224021961 Listing URL

    Copyright © 2026 Florida Gulf Coast Multiple Listing Service, Inc. All rights reserved. All information provided by the listing agent/broker is deemed reliable but is not guaranteed and should be independently verified.

    HighLights

    • Double‑buildable lot on North Captiva Island’s north end, located on the airstrip
    • Opportunity for hangar use to store a private plane at your custom home
    • Potential panoramic views of the Gulf of Mexico, North Captiva Pass, and Cayo Costa
    • Includes a well on the property; water source is well
    • Elevation is higher than most, according to the listing
    • Must buy both lots: ML# 224021960 is sold with this lot for a total of $500,000

    Overview

    This double-buildable lot on North Captiva Island is positioned on the island’s north end on the airstrip, offering a setting suited to a custom home paired with aviation storage. The property includes an existing well and sits at an elevation higher than most, providing flexibility for site planning. The seller also notes potential panoramic views of the Gulf of Mexico, North Captiva Pass, and Cayo Costa from a home or lookout tower.

    The lot is located within a short walk of miles of pristine beaches and the resort area, where restaurants, boat rentals, shopping, a ferry landing, pools, and tennis are available. The listing also states that ML# 224021960 is being sold with this lot, and the buyer must purchase both lots.

    For prospective owners or developers, the key practical advantage is the “double-buildable” configuration in an airstrip-oriented location, which can support planning that combines everyday living with private aviation. With an existing well already on-site and elevated terrain, the property may be well-suited for buyers who want to start their custom home concept with key utilities already in place, while retaining the option to capture broader water views from an elevated structure.
    Property Profile Location Intelligence

    Current Use by Public Records

    Residential land & home ...

    Map

    City
    Captiva
    County
    Lee
    State
    Florida
    Longitude
    -82.2447
    Latitude
    26.6717

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    FAQs

    What type of property is this?
    Residential land & home lot - Airstrip-adjacent double lot with existing well and elevated terrain for custom home planning on North Captiva Island.
    Where is this residential land & home lot located?
    The property is located at 210 Mourning Dove Drive Upper Captiva, FL.
    What is the asking price?
    The asking price for this property is $250,000.
    What are key features of this property?
    This property features: Double‑buildable lot on North Captiva Island’s north end, located on the airstrip; Opportunity for hangar use to store a private plane at your custom home; Potential panoramic views of the Gulf of Mexico, North Captiva Pass, and Cayo Costa
    (239) 850-1359
    We can help!
    Listing Contact
    Rhonda Milligan
    Real Estate License ID: 258007315
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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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