Triplex Investment with Shared
For Sale
$375,000
Pending
4937 Viceroy Ct, Cape Coral, FL 33904
Three-unit triplex with two-bedroom, one-bedroom, and efficiency units plus a shared pay-as-you-go laundry setup.
Property Size1,510 SF
Days on Market103
Property Features for 4937 Viceroy Ct
General Information
Standard status
Pending
Size
1,510 SF
Property subtype
Investment
Additional Details
Multifamily Units
3
Taxes and HOA fees
Annual Taxes
$6,470
Amenities
laundry building
Building Details
Building Size
1,510 SF
Year Built
1966
Units
3
Listing Agency:
Sellstate Priority Realty
(239) 464-9017
Listed By:
Hazel Donaldson · License #252013398
(239) 464-9017
Source:
Elliman
Added: May 10
Changed: Aug 13
Last Checked: Aug 20 at 10:10AM
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 Sellstate Priority Realty
Investment Insights
Based on property information with market context.
This triplex includes three residential units: a two-bedroom, a one-bedroom, and an efficiency. Public remarks indicate two units are ready to rent. Previous reported monthly rent figures are provided for each unit: the two-bedroom at $1,500 per month, the one-bedroom at $1,200 per month, and the efficiency at $900 per month. A laundry building onsite features pay-as-you-go washer and dryer services shared by the three units.
The property is described as being in SE Cape Coral and close to Cape Coral Pkwy, shopping, restaurants, and bus service to Ft Myers.
The lot size is listed as “.344,” and the remarks state there is potential for further development.
The property is described as being in SE Cape Coral and close to Cape Coral Pkwy, shopping, restaurants, and bus service to Ft Myers.
The lot size is listed as “.344,” and the remarks state there is potential for further development.
Key Highlights
- Three‑unit triplex built in 1966 with 2‑bedroom, 1‑bedroom, and efficiency units
- Units ready to rent; former long‑term tenants recently moved out
- Recent rents listed: 2BR $1,500/mo; 1BR $1,200/mo; efficiency $900/mo
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
$19,987
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
5.33%
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%
$399,740
$399.7K
Cap Rate 7%
$285,529
$285.5K
Cap Rate 9%
$222,078
$222.1K
Market Conditions
NOI Build-Up for 1,510 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
$29.9K $19.80/SF
− Vacancy
−$1.3K −$0.89/SF
EGI
$28.6K $18.91/SF
− OpEx
−$8.6K −$5.67/SF
NOI
$20.0K $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%
$399,740
Cap Rate 7%
$285,529
Cap Rate 9%
$222,078
Alternative Uses
Best Use
Multifamily LT 5
$285.5K
$249.8K – $333.1K
NOI $19,987 @ 7.0% cap · market cap 5.33%
Second Best
Apartment 5plus
$264.6K
$231.5K – $308.7K
NOI $18,522 @ 7.0% cap · market cap 4.94%
Theoretical Best
Office A
$391.8K
$342.8K – $457.1K
NOI $27,426 @ 7.0% cap · market cap 7.31%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
3
Residential units
Location Intelligence
Trade Area within ½ mile
2,349
Businesses Nearby
Explore this area
Business Placement
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
Market
Vacancy Rate% for Multifamily in South region
Questions? Ask Rey
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Frequently Asked Questions
What type of property is this?
Triplex - Three-unit triplex with two-bedroom, one-bedroom, and efficiency units plus a shared pay-as-you-go laundry setup.
Where is this triplex located?
The property is located at 4937 Viceroy Ct Cape Coral, FL.
What is the asking price?
The asking price for this property is $375,000.
What are key features of this property?
This property features: Three‑unit triplex built in 1966 with 2‑bedroom, 1‑bedroom, and efficiency units; Units ready to rent; former long‑term tenants recently moved out; Recent rents listed: 2BR $1,500/mo; 1BR $1,200/mo; efficiency $900/mo
