New Construction Two-Unit
For Sale
$550,000
Pending
257/259 Sw 3rd Ter, Cape Coral, FL 33991
Each residence includes modern finishes, private laundry, and energy-efficient tankless water heating.
Property Size2,496 SF
Days on Market93
Property Features for 257/259 Sw 3rd Ter
General Information
Standard status
Pending
Size
2,496 SF
Property subtype
Multi-Family
Units
Unit Mix
2 x 3BR/2BA
Multifamily Units
2
Additional Details
Utilities to Site
Yes
Amenities
impact-resistant windows and doors
porcelain tile flooring
interior laundry room
energy-efficient tankless water heaters
Building Details
Year Built
2026
Buildings
1
Construction
CBS
Listing Agency:
BLUE BAY REALTY SERVICES
(813) 403-1950
Listed By:
Isarys Alvarez · License #261558250
Source:
Naplesareahomesearch
Added: May 31
Changed: Aug 28
Last Checked: Aug 29 at 10:33AM
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 BLUE BAY REALTY SERVICES
Investment Insights
Based on property information with market context.
Completed in 2026, this 2,496-square-foot duplex contains two never-occupied residences. Each unit offers three bedrooms, two bathrooms, porcelain tile flooring throughout, an interior laundry room, and an energy-efficient tankless water heater. CBS construction, impact-resistant windows and doors, and city water and sewer add to the physical profile. All assessments are paid in full, and the property has no HOA restrictions or flood-zone designation.
The duplex is within walking distance of Sun Splash Family Waterpark, The Courts pickleball and tennis complex, Cape Coral Charter School, a veterinary hospital, Santa Barbara Lanes, Eagle Skate Park, William "Bill" Austen Youth Center, CrossFit ENG, and Lake Kennedy Community Park. Its two-unit layout and matching three-bedroom, two-bath configurations provide a consistent residential setup across the property.
The duplex is within walking distance of Sun Splash Family Waterpark, The Courts pickleball and tennis complex, Cape Coral Charter School, a veterinary hospital, Santa Barbara Lanes, Eagle Skate Park, William "Bill" Austen Youth Center, CrossFit ENG, and Lake Kennedy Community Park. Its two-unit layout and matching three-bedroom, two-bath configurations provide a consistent residential setup across the property.
Key Highlights
- Two‑unit duplex with 2,496 square feet, completed in 2026
- Both units feature 3 bedrooms, 2 bathrooms, porcelain tile, and interior laundry rooms
- Brand‑new CBS construction with impact‑resistant windows and doors
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
$33,038
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
6.01%
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%
$660,760
$660.8K
Cap Rate 7%
$471,971
$472.0K
Cap Rate 9%
$367,089
$367.1K
Market Conditions
NOI Build-Up for 2,496 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
$49.4K $19.80/SF
− Vacancy
−$2.2K −$0.89/SF
EGI
$47.2K $18.91/SF
− OpEx
−$14.2K −$5.67/SF
NOI
$33.0K $13.24/SF
Area
Cape Coral, FL
Vacancy
4.50%
Lease Rate
$19.80 /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%
$660,760
Cap Rate 7%
$471,971
Cap Rate 9%
$367,089
Alternative Uses
Best Use
Multifamily LT 5
$472.0K
$413.0K – $550.6K
NOI $33,038 @ 7.0% cap · market cap 6.01%
Second Best
Apartment 5plus
$437.4K
$382.7K – $510.3K
NOI $30,617 @ 7.0% cap · market cap 5.57%
Theoretical Best
Office A
$647.6K
$566.7K – $755.6K
NOI $45,335 @ 7.0% cap · market cap 8.24%
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
745
Businesses Nearby
Explore this area
Business Placement
Demographics for 33991, FL
26,381
Population
11,563
Households
2.3
Avg Household Size
45
Median Age
25%
College-Educated
94%
High-School Grad
12.8 sq mi
ZIP Area
2,061
Density / Sq Mi
$82,927
Median Household Income
$41,773
Median Earnings
$1,914
Median Rent
$351,100
Median Home Value
Market
Vacancy Rate% for Multifamily in South region
Questions? Ask Rey
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Frequently Asked Questions
What type of property is this?
Duplex - Each residence includes modern finishes, private laundry, and energy-efficient tankless water heating.
Where is this duplex located?
The property is located at 257/259 Sw 3rd Ter Cape Coral, FL.
What is the asking price?
The asking price for this property is $550,000.
What are key features of this property?
This property features: Two‑unit duplex with 2,496 square feet, completed in 2026; Both units feature 3 bedrooms, 2 bathrooms, porcelain tile, and interior laundry rooms; Brand‑new CBS construction with impact‑resistant windows and doors
