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    2620-2622 SE 16th Place Cape Coral, FL 33904

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    Pending
    $345,000

    MULTI_FAMILY - Other - Cape Coral, FL

    Property size:
    2,324 SF
    Lot size:
    0.25 Acres
    Added:
    Apr 28, 2026
    Days on Market:
    7
    Last Refresh:
    May 4 at 9:06 am

    Property Features for 2620-2622 SE 16th Place

    General Information

    Property type
    Residential Multi Family
    Property subtype
    Other
    Bedrooms
    4
    Bathrooms
    4
    Rooms
    Bedroom 3, Bathroom 4, Bedroom 1, Bedroom 2, Bathroom 2, Bedroom 4, Bathroom 1, Bathroom 3
    Exterior features
    Fence
    Fencing
    Fenced
    Standard status
    Pending
    APN
    32-44-24-C1-01194.A090
    Size
    2,324 SF
    Lot size
    0.25 Acres

    Taxes and HOA fees

    Tax Year
    2025
    Tax Description
    CAPE CORAL UNIT 20 PART 2 BLK.1194A PB 19 PG 48 LOTS 9 + 10
    Tax Annual Amount
    6390

    Utilities

    Sewer type
    Public Sewer
    Heating system
    Electric (Heating), Central
    Cooling system
    Central Air, Electric
    Water source
    Public

    Building Details

    Year built
    1988
    Number of units
    2
    Flooring type
    Tile
    Building materials
    Block, Concrete, Stucco
    Roof type
    Shingle
    Architectural style
    Other

    We can help!

    Listing Contact
    Kelly Hammer

    Listing agent Kelly Hammer License #258018713

    Listing office Century 21 Selling Paradise 3409 Del Prado Blvd S No. 103, FL

    Listing date Apr 28, 2026

    MLS# 2026010872 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.

    Overview

    Well-Maintained Duplex Near Del Prado

    This well-maintained duplex is located off Del Prado Blvd and near Veterans Pkwy, providing convenient access to shopping, dining, and schools, as well as easy access to Ft. Myers. The property is situated close to county bus routes, making it suitable for tenants seeking walkable and transit-friendly living. Each unit includes 2 bedrooms, 2 bathrooms, a 1-car garage, and approximately 1,162 sq ft of living area, along with a screened lanai. The layouts offer comfortable living space. Updates include a new roof installed in 2022 and a skylight installed in 2020, as well as updated 125-amp electrical panels in 2019. One unit was replumbed in 1999 and the other in 2002. The A/C systems were replaced in 2017 and 2018. Constructed in 1988, the property has been consistently maintained and is located in a non-flood zone, eliminating the need for flood insurance. One unit is currently leased through February 2027, providing immediate income. This property is suitable for investors or buyers looking to live in one side while generating rental income from the other. The lot size is 0.252 acres.
    Property Profile Insight Report Location Intelligence

    Current Use by Public Records

    Duplexes

    Suggested Use

    Law Firm Real Estate Agency Restaurant Spa & Massage Center Dental Office Hair Salon Nail Salon Building Supply Gym & Fitness Center Pharmacy

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

    Location Insight

    • Map
    • Local Demand
    City
    Cape Coral
    County
    Lee
    State
    Florida
    Longitude
    -81.939744
    Latitude
    26.603338

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    FAQs

    What type of property is this?
    Duplex - Duplex near shopping, dining, and schools with easy access to Ft.
    Where is this duplex located?
    The property is located at 2620-2622 SE 16th Place Cape Coral, FL.
    What is the asking price?
    The asking price for this property is $345,000.
    What are key features of this property?
    This property features: Immediate income potential with one unit leased through February 2027.; Convenient location near Del Prado Blvd and Veterans Pkwy, close to shopping, dining, schools, and public transportation.; Recent major updates: **new roof (2022), skylight (2020), and updated electrical panels (2019).**
    (239) 707-7154
    We can help!
    Listing Contact
    Kelly Hammer
    Real Estate License ID: 258018713
    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.

    More about this property
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    2620-2622 SE 16th Place, Cape Coral, FL 33904

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