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    Commercially Zoned Pool Duplex Title is generated by Realmo AI

    619/621 SW 3rd Terrace, Cape Coral, FL 33991

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    For Sale
    $489,000

    MULTI_FAMILY - Other - Cape Coral, FL

    Lot size:
    0.23 Acres
    Added:
    Jun 1, 2026
    Days on Market:
    2
    Last Refresh:
    Jun 2 at 4:06 pm

    Property Features for 619/621 SW 3rd Terrace

    General Information

    Property type
    Residential Multi Family
    Property subtype
    Other
    Bedrooms
    4
    Bathrooms
    4
    Rooms
    Bedroom 4, Bathroom 2, Bedroom 1, Bedroom 3, Bathroom 3, Bathroom 4, Bathroom 1, Bedroom 2
    Pool private
    1
    Exterior features
    Fence
    Fencing
    Fenced
    Standard status
    Active
    APN
    14-44-23-C4-01937.0190
    Lot size
    0.23 Acres

    Taxes and HOA fees

    Tax Year
    2025
    Tax Description
    CAPE CORAL UNIT 29 BLK 1937 PB 16 PG 22 LOTS 19 + 20
    Tax Annual Amount
    4193

    Utilities

    Sewer type
    Public Sewer
    Heating system
    Electric (Heating), Central
    Cooling system
    Electric, Central Air
    Water source
    Public

    Building Details

    Year built
    1988
    Number of units
    2
    Flooring type
    Laminate, Tile
    Building materials
    Block, Concrete, Stucco
    Roof type
    Shingle
    Architectural style
    Other

    We can help!

    Listing Contact
    Chad Damitz
    Chad Damitz

    Listing agent Chad Damitz License #258031115

    Listing office Anchorpoint Real Estate, LLC 3444 Marinatown Ln, Suite 19B, Fort Myers, FL

    Listing date Jun 1, 2026

    MLS# 2026024211 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.

    HighLights

    • 4 bed, 4 bath duplex with private pool, screened lanai, and fenced backyard shaded by mature oak trees
    • Commercial Corridor (CC) zoning offers flexibility for residential, owner‑occupant, or income/usage options subject to City approval
    • Major updates include new AC system and ductwork installed in 2024
    • Updated kitchen with granite countertops and newer cabinetry; additional upgrades include custom lighting and epoxy flooring
    • Hurricane shutters and roof with shingle material; attached garages with insulated garage door and garage AC unit
    • City water and public sewer with all assessments paid; all appliances included and home inspection/wind mitigation reports available

    Overview

    This property is a unique 4-bedroom, 4-bath duplex pool home offering a practical setup for multi-generational living, rental income, or flexible business use opportunities subject to City approval. The home includes a screened lanai, fenced backyard, and a beautifully updated PebbleTec swimming pool shaded by mature oak trees. Interior and systems updates include a new A/C system with ductwork installed in 2024, an updated kitchen featuring granite countertops and newer cabinetry, epoxy flooring, and custom lighting. Additional upgrades include hurricane shutters, automatic garage door openers, an insulated garage door, a garage A/C unit, custom glass etching, and updated pool lighting with color-changing features. City water and sewer are in place with all assessments paid, and attached garages plus all appliances being included help streamline move-in or leasing.

    Set in a quiet neighborhood in Cape Coral, the duplex is near shopping, restaurants, schools, and Sun Splash Family Waterpark. The property benefits from Commercial Corridor (CC) zoning, which can support a range of owner and operator plans while requiring City approval for any business use opportunities.

    One unit is currently owned, creating straightforward options for an owner-occupant to live in one side while renting the other, or for an investor to place a tenant immediately. With its pool amenities, well-documented improvements, and CC zoning versatility, the property is well-suited to vacation rental operators and other buyers seeking income potential from a residentially oriented layout.
    Property Profile Location Intelligence

    Current Use by Public Records

    Duplexes

    Suggested Use

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

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

    Location Insight

    • Map
    • Local Demand
    City
    Cape Coral
    County
    Lee
    State
    Florida
    Longitude
    -81.987704
    Latitude
    26.643472

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    FAQs

    What type of property is this?
    Duplex - Well-maintained duplex with screened PebbleTec pool and flexible Commercial Corridor zoning for rental or owner-occupant use.
    Where is this duplex located?
    The property is located at 619/621 SW 3rd Terrace Cape Coral, FL.
    What is the asking price?
    The asking price for this property is $489,000.
    What are key features of this property?
    This property features: 4 bed, 4 bath duplex with private pool, screened lanai, and fenced backyard shaded by mature oak trees; Commercial Corridor (CC) zoning offers flexibility for residential, owner‑occupant, or income/usage options subject to City approval; Major updates include new AC system and ductwork installed in 2024
    (239) 785-6986
    We can help!
    Listing Contact
    Chad Damitz
    Chad Damitz
    Real Estate License ID: 258031115
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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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