Duplex with Solar
New
For Sale
$525,000
302 / 304 Hancock Bridge PKWY 302 & 304, Cape Coral, FL 33990
Two three-bedroom residences each offer a private lanai and fenced yard.
Property Size2,438 SF
Days on Market5
Property Features for 302 / 304 Hancock Bridge PKWY 302 & 304
General Information
Standard status
Active
Size
2,438 SF
Property subtype
Duplex
Site & Location
Road Access
Yes
Utilities to Site
Yes
Units
Unit Mix
2 x 3BR/2BA
Multifamily Units
2
Taxes and HOA fees
Annual Taxes
$6,202
Amenities
private lanai
individually fenced yard
solar panels
Building Details
Building Size
2,438 SF
Year Built
2019
Listing Agency:
Innova Real Estate Corp
Listed By:
Kathy Lopez Rodriguez · License #258027212
(239) 470-7792
Source:
Kwelevate
Added: Sep 21
Changed: Sep 24
Last Checked: Sep 24 at 2:33PM
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 Innova Real Estate Corp
Investment Insights
Based on property information with market context.
Built in 2019, this duplex contains two units, each with three bedrooms and two full bathrooms. Both residences have a private lanai and an individually fenced yard. Solar panels serve the 302 side, and the property connects to city water and public sewer. Utility assessments are paid in full.
The corner-lot property fronts a main road with direct access to one of the bridges between Cape Coral and Fort Myers. Schools, hospitals, shopping, restaurants, and downtown Cape Coral are nearby.
The corner-lot property fronts a main road with direct access to one of the bridges between Cape Coral and Fort Myers. Schools, hospitals, shopping, restaurants, and downtown Cape Coral are nearby.
Key Highlights
- Two units, each with 3 bedrooms and 2 full bathrooms
- Built in 2019
- Solar panels on the 302 side
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
$32,270
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
6.15%
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%
$645,400
$645.4K
Cap Rate 7%
$461,000
$461.0K
Cap Rate 9%
$358,556
$358.6K
Market Conditions
NOI Build-Up for 2,438 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
$48.3K $19.80/SF
− Vacancy
−$2.2K −$0.89/SF
EGI
$46.1K $18.91/SF
− OpEx
−$13.8K −$5.67/SF
NOI
$32.3K $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%
$645,400
Cap Rate 7%
$461,000
Cap Rate 9%
$358,556
Alternative Uses
Best Use
Multifamily LT 5
$461.0K
$403.4K – $537.8K
NOI $32,270 @ 7.0% cap · market cap 6.15%
Second Best
Apartment 5plus
$427.2K
$373.8K – $498.4K
NOI $29,905 @ 7.0% cap · market cap 5.70%
Theoretical Best
Office A
$632.6K
$553.5K – $738.0K
NOI $44,282 @ 7.0% cap · market cap 8.43%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Current Use
Lease Details
2
Residential units
Yes
Paved road access
Yes
Utilities to site
Location Intelligence
Trade Area within ½ mile
549
Businesses Nearby
Explore this area
Business Placement
Demographics for 33990, FL
32,717
Population
15,483
Households
2.1
Avg Household Size
47
Median Age
24%
College-Educated
89%
High-School Grad
9.3 sq mi
ZIP Area
3,518
Density / Sq Mi
$70,278
Median Household Income
$38,588
Median Earnings
$1,643
Median Rent
$330,500
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 - Two three-bedroom residences each offer a private lanai and fenced yard.
Where is this duplex located?
The property is located at 302 / 304 Hancock Bridge PKWY 302 & 304 Cape Coral, FL.
What is the asking price?
The asking price for this property is $525,000.
What are key features of this property?
This property features: Two units, each with 3 bedrooms and 2 full bathrooms; Built in 2019; Solar panels on the 302 side
