Six-Unit Apartment
For Sale
$1,800,000
3505 Skyline Boulevard, Cape Coral, FL 33914
Brand-new multifamily property with spacious layouts, contemporary finishes, and two units already pre-leased.
Property Size8,100 SF
Price / SF$222.22
Days on Market24
Property Features for 3505 Skyline Boulevard
General Information
Standard status
Active
Size
8,100 SF
Property subtype
Multi Family
Units
Unit Mix
6 x 2BR/2BA with den
Multifamily Units
6
Building Details
Buildings
1
Listing Agency:
ONE Commercial LLC
(305) 666-0562
Listed By:
Zachariah Aviv Statlander · License #A11926037
(561) 702-2015
Source:
Lehmannflorida
Added: Aug 19
Changed: Sep 10
Last Checked: Sep 10 at 7:14AM
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 ONE Commercial LLC
Investment Insights
Based on property information with market context.
This brand-new apartment building contains six units, each arranged with two bedrooms, two bathrooms, and a den. Interior features include premium flooring, contemporary kitchens, impact-rated windows and doors, and open-concept living areas. The configuration provides consistent residential layouts across the property.
Located at 3505 Skyline Blvd in Cape Coral, the property is minutes from major retail, schools, parks, and the city’s canal system. Two units are already pre-leased, providing established leasing activity at the property. The building is classified as an apartment building and offers a recently constructed multifamily format in a growing Florida city.
Located at 3505 Skyline Blvd in Cape Coral, the property is minutes from major retail, schools, parks, and the city’s canal system. Two units are already pre-leased, providing established leasing activity at the property. The building is classified as an apartment building and offers a recently constructed multifamily format in a growing Florida city.
Key Highlights
- Six (6) unit multifamily building at 3505 Skyline Blvd, Cape Coral, FL 33914
- Each unit includes 2 bedrooms, 2 bathrooms, and a den
- Brand‑new construction with impact‑rated 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
$99,356
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
5.52%
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%
$1,987,120
$2.0M
Cap Rate 7%
$1,419,371
$1.4M
Cap Rate 9%
$1,103,956
$1.1M
Market Conditions
NOI Build-Up for 8,100 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
$188.6K $23.28/SF
− Vacancy
−$7.9K −$0.98/SF
EGI
$180.6K $22.30/SF
− OpEx
−$81.3K −$10.04/SF
NOI
$99.4K $12.27/SF
Area
Cape Coral, FL
Vacancy
4.20%
Lease Rate
$23.28 /SF/Yr
Expense Ratio
45.00%
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%
$1,987,120
Cap Rate 7%
$1,419,371
Cap Rate 9%
$1,103,956
Alternative Uses
Best Use
Apartment 5plus
$1.42M
$1.24M – $1.66M
NOI $99,356 @ 7.0% cap · market cap 5.52%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$2.10M
$1.84M – $2.45M
NOI $147,122 @ 7.0% cap · market cap 8.17%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
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Open Analytics
Current Use
Lease Details
6
Residential units
Location Intelligence
Trade Area within ½ mile
213
Businesses Nearby
Explore this area
Business Placement
Demographics for 33914, FL
42,222
Population
22,936
Households
1.8
Avg Household Size
52
Median Age
28%
College-Educated
95%
High-School Grad
22.4 sq mi
ZIP Area
1,885
Density / Sq Mi
$75,557
Median Household Income
$41,672
Median Earnings
$1,714
Median Rent
$408,800
Median Home Value
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Market
Vacancy Rate% for Multifamily in South region
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Frequently Asked Questions
What type of property is this?
Apartment building - Brand-new multifamily property with spacious layouts, contemporary finishes, and two units already pre-leased.
Where is this apartment building located?
The property is located at 3505 Skyline Boulevard Cape Coral, FL.
What is the asking price?
The asking price for this property is $1,800,000.
What are key features of this property?
This property features: Six (6) unit multifamily building at 3505 Skyline Blvd, Cape Coral, FL 33914; Each unit includes 2 bedrooms, 2 bathrooms, and a den; Brand‑new construction with impact‑rated windows and doors
