Two-Story Retail
New
For Sale
$2,195,000
3724 Del Prado Boulevard S, Cape Coral, FL 33904
CommercialSale, Cape Coral, FL
Property Size6,062 SF
Lot Size0.57 Acres
Price / SF$362.09
Days on Market1
Property Features for 3724 Del Prado Boulevard S
General Information
Property type
Commercial Sale
Property subtype
Retail
Zoning description
C
Subdivision
CC12 - Cape Coral Unit 7-15
Standard status
Active
APN
06-45-24-C3-00526.0380
Lot size
0.57 Acres
Taxes and HOA fees
Tax Year
2025
Tax Description
CAPE CORAL UNIT 11 BLK 526 PB 13 PG 48 LOTS 38 THRU 42
Tax Annual Amount
22767
Legal Description
CAPE CORAL UNIT 11 BLK 526 PB 13 PG 48 LOTS 38 THRU 42
Building Details
Year built
1977
Floors in Building
2
Listing Agency:
ERA Lahaina Realty
(239) 463-0000
Listed By:
Bev Larson · License #258500058
(239) 281-1290
Added: Sep 11
Last Checked: Sep 11 at 3:06PM
MLS# 2026037376
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.
Investment Insights
Based on property information with market context.
This freestanding retail property in Cape Coral includes approximately 6,062 SF of enclosed space and approximately 6,720 gross SF across two stories. The layout combines a restaurant with three additional suites occupied by a barber shop, beauty salon, and tattoo studio. The restaurant buildout includes seating for approximately 200 people, a full-service bar, commercial kitchen, office, storage, finished restrooms, furniture, fixtures, and operating equipment. Separate entrances and a covered second-floor walkway serve the individual suites.
The property occupies 0.574 acres with approximately 200 feet of frontage on Del Prado Boulevard S, on-site parking, and prominent signage. The roof was replaced in 2023. Restaurant equipment includes an Aloha POS system with three terminals, an office backup computer, a 16-camera security system, and exterior dry storage. A full liquor license is intended to convey subject to applicable transfer requirements. The property was built in 1977, and the restaurant business and equipment are included with the sale.
The property occupies 0.574 acres with approximately 200 feet of frontage on Del Prado Boulevard S, on-site parking, and prominent signage. The roof was replaced in 2023. Restaurant equipment includes an Aloha POS system with three terminals, an office backup computer, a 16-camera security system, and exterior dry storage. A full liquor license is intended to convey subject to applicable transfer requirements. The property was built in 1977, and the restaurant business and equipment are included with the sale.
Key Highlights
- Approximately 6,062 SF enclosed building area and approximately 6,720 gross SF
- 0.574‑acre site with approximately 200 feet of Del Prado Boulevard frontage
- Two‑story layout with restaurant plus three service‑retail suites
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
$96,240
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
4.38%
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%
$1,924,800
$1.9M
Cap Rate 7%
$1,374,857
$1.4M
Cap Rate 9%
$1,069,333
$1.1M
Market Conditions
NOI Build-Up for 6,062 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
$130.9K $21.60/SF
− Vacancy
−$2.6K −$0.43/SF
EGI
$128.3K $21.17/SF
− OpEx
−$32.1K −$5.29/SF
NOI
$96.2K $15.88/SF
Area
Cape Coral, FL
Vacancy
2.00%
Lease Rate
$21.60 /SF/Yr
Expense Ratio
25.00%
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%
$1,924,800
Cap Rate 7%
$1,374,857
Cap Rate 9%
$1,069,333
Alternative Uses
Best Use
Specialty Retail
$1.37M
$1.20M – $1.60M
NOI $96,240 @ 7.0% cap · market cap 4.38%
Second Best
Retail
$1.31M
$1.14M – $1.52M
NOI $91,415 @ 7.0% cap · market cap 4.16%
Theoretical Best
Office A
$1.57M
$1.38M – $1.84M
NOI $110,105 @ 7.0% cap · market cap 5.02%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
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Open Analytics
Current Use
Lease Details
Multi-tenant
Tenancy
Turnkey business
Opportunity
Yes
Paved road access
Yes
Liquor license
Location Intelligence
Trade Area within ½ mile
755
Businesses Nearby
18k
Monthly Visits Nearby
Explore this area
Business Placement
Foot Traffic Nearby
Shops & Services 53%
Dining 47%
Dollar Tree
Shops & Services
9,829 visits/mo
0.4 miles
Dunkin' Donuts
Dining
8,280 visits/mo
0.5 miles
Sal's Pizza
Dining
340 visits/mo
0.1 miles
Demographics for 33904, FL
32,029
Population
20,401
Households
1.6
Avg Household Size
56
Median Age
29%
College-Educated
95%
High-School Grad
9.7 sq mi
ZIP Area
3,302
Density / Sq Mi
$66,933
Median Household Income
$43,829
Median Earnings
$1,665
Median Rent
$347,100
Median Home Value
Check the figures for this property
Cap Rate, Value Estimation, Potential NOI and more
View Realmo Analytics
Market
Vacancy Rate% for Retail in South region
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Frequently Asked Questions
What type of property is this?
Retail space - Multiple suites accommodate restaurant and service-retail operations along Del Prado Boulevard.
Where is this retail space located?
The property is located at 3724 Del Prado Boulevard S Cape Coral, FL.
What is the asking price?
The asking price for this property is $2,195,000.
What are key features of this property?
This property features: Approximately 6,062 SF enclosed building area and approximately 6,720 gross SF; 0.574‑acre site with approximately 200 feet of Del Prado Boulevard frontage; Two‑story layout with restaurant plus three service‑retail suites
