New Construction
For Sale
$525,000
510 510/512 Hancock Bridge Pkwy, Cape Coral, FL 33990
Two-unit residential property with tenants in place, municipal water and sewer, and no HOA fee.
Property Size2,152 SF
Price / SF$243.96
Days on Market19
Property Features for 510 510/512 Hancock Bridge Pkwy
General Information
Standard status
Active
Size
2,152 SF
Property subtype
Multi-Family
Additional Details
Utilities to Site
Yes
Multifamily Units
2
Building Details
Year Built
2025
Buildings
1
Listing Agency:
Schooner Bay Realty, Inc.
(786) 837-3893
Listed By:
Elizabeth Bracero · License #279651223
Source:
Swfloridarealestate
Added: Aug 13
Changed: Aug 29
Last Checked: Aug 30 at 8:56PM
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 Schooner Bay Realty, Inc.
Investment Insights
Based on property information with market context.
This duplex was built in 2025 and includes 6 bedrooms and 4 bathrooms across the two-unit property. Tenants are currently in place, and the property has no HOA fee. Municipal water and sewer serve the site, while the assessments are fully paid.
The property is identified at 510/512 Hancock Bridge Pkwy in Cape Coral, Florida. It is outside a flood zone, and flood insurance is not required. Nearby amenities listed for the property include Publix, Sam’s, shops, restaurants, parks, golf courses, and tennis courts.
The property is identified at 510/512 Hancock Bridge Pkwy in Cape Coral, Florida. It is outside a flood zone, and flood insurance is not required. Nearby amenities listed for the property include Publix, Sam’s, shops, restaurants, parks, golf courses, and tennis courts.
Key Highlights
- Duplex at 510/512 Hancock Bridge Pkwy, Cape Coral, FL 33990
- Built in 2025 with 6 bedrooms and 4 bathrooms
- Tenants currently in place
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
$28,485
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
5.43%
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%
$569,700
$569.7K
Cap Rate 7%
$406,929
$406.9K
Cap Rate 9%
$316,500
$316.5K
Market Conditions
NOI Build-Up for 2,152 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
$42.6K $19.80/SF
− Vacancy
−$1.9K −$0.89/SF
EGI
$40.7K $18.91/SF
− OpEx
−$12.2K −$5.67/SF
NOI
$28.5K $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%
$569,700
Cap Rate 7%
$406,929
Cap Rate 9%
$316,500
Alternative Uses
Best Use
Multifamily LT 5
$406.9K
$356.1K – $474.8K
NOI $28,485 @ 7.0% cap · market cap 5.43%
Second Best
Apartment 5plus
$377.1K
$330.0K – $440.0K
NOI $26,397 @ 7.0% cap · market cap 5.03%
Theoretical Best
Office A
$558.4K
$488.6K – $651.5K
NOI $39,087 @ 7.0% cap · market cap 7.45%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
2
Residential units
Yes
Utilities to site
Location Intelligence
Trade Area within ½ mile
473
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-unit residential property with tenants in place, municipal water and sewer, and no HOA fee.
Where is this duplex located?
The property is located at 510 510/512 Hancock Bridge Pkwy 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: Duplex at 510/512 Hancock Bridge Pkwy, Cape Coral, FL 33990; Built in 2025 with 6 bedrooms and 4 bathrooms; Tenants currently in place
