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    3242 Purple Martin Drive Punta Gorda, FL 33950

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    For Sale
    $299,000

    LAND - Punta Gorda, FL

    Lot size:
    0.46 Acres
    Added:
    Oct 14, 2024
    Days on Market:
    567
    Last Refresh:
    May 3 at 10:06 am

    Property Features for 3242 Purple Martin Drive

    General Information

    Property type
    Land
    Property subtype
    Other
    Standard status
    Active
    APN
    412213327002
    Lot size
    0.46 Acres

    Taxes and HOA fees

    Tax Year
    2025
    Tax Description
    PGI 014 0178 0024 PUNTA GORDA ISLES SEC14 BLK178 LT24 675/1505 1954/1555 2880/1944 3299673 3459095
    Tax Annual Amount
    6326

    Utilities

    Sewer type
    Public Sewer
    Water source
    Public
    Water front features
    Waterfront
    Water front
    1

    We can help!

    Listing Contact
    Crystal Coovert
    Crystal Coovert

    Listing agent Crystal Coovert License #274506938

    Listing office John R. Wood Properties 110 Sullivan St, Ste 111, FL

    Listing date Oct 14, 2024

    MLS# 2026000319 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

    Waterfront Land Ready to Build

    This cleared double lot, totaling 20,003 sq. ft., presents an excellent opportunity for waterfront multi-family development in Punta Gorda Isles. The property features 92 ft. of cement seawall maintained by the City of Punta Gorda. Sailboat access is available with no bridges, providing unobstructed access to Charlotte Harbor and the Gulf of Mexico. City water and sewer services are available, and there are no HOA or CDD fees. The lot dimensions are 108x200x92x200. With an anticipated 20 percent growth for Punta Gorda over the next five years, new construction housing is expected to be in high demand. The location offers easy access to I-75 and US-41, as well as nearby airports, including Punta Gorda, Southwest Florida International (Ft. Myers), Sarasota, and Tampa International. The property is intended for residential use. Combined with the adjacent lot, a total of 30 units could be built.
    Property Profile Insight Report Location Intelligence

    Current Use by Public Records

    Waterfront Land

    Suggested Use

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

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

    Location Insight

    • Map
    • Local Demand
    City
    Punta Gorda
    County
    Charlotte
    State
    Florida
    Longitude
    -82.065261
    Latitude
    26.907971

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    FAQs

    What type of property is this?
    Waterfront Land - Cleared double lot with sailboat access and no bridges.
    Where is this waterfront land located?
    The property is located at 3242 Purple Martin Drive Punta Gorda, FL.
    What is the asking price?
    The asking price for this property is $299,000.
    What are key features of this property?
    This property features: Waterfront double lot (20,003 sq. ft.) in Punta Gorda Isles with **92 ft. of cement seawall.**; **Sailboat access** to Charlotte Harbor and the Gulf of Mexico with no bridges.; Cleared and ready to build multi‑family property.
    (813) 299-2417
    We can help!
    Listing Contact
    Crystal Coovert
    Crystal Coovert
    Real Estate License ID: 274506938
    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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    3242 Purple Martin Drive, Punta Gorda, FL 33950

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