Canal-Side
For Sale
$489,000
Pending
823/825 Cultural Park Blvd S, Cape Coral, FL 33990
Two updated units provide separate utility metering, private garages, and low-maintenance interior finishes.
Property Size2,418 SF
Days on Market125
Property Features for 823/825 Cultural Park Blvd S
General Information
Standard status
Pending
Size
2,418 SF
Total Parking Spaces
2
Property subtype
Multi-Family
Additional Details
Utilities to Site
Yes
Multifamily Units
2
Building Details
Year Built
2023
Buildings
1
Listing Agency:
RE/MAX Trend
Listed By:
James Sommers · License #258004921
(239) 851-2351
Source:
Naplesareapropertysearch
Added: May 2
Changed: Sep 2
Last Checked: Sep 2 at 6:38PM
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 RE/MAX Trend
Investment Insights
Based on property information with market context.
Built in 2023, this duplex contains two matching residences with a combined 2,418 square feet of living space. Each unit offers 3 bedrooms, 2 full baths, 1,209 square feet, an attached 1-car garage, tile flooring, vaulted ceilings, and granite countertops. Electric and water are separately metered for each residence. The property sits along a freshwater canal and is identified as being outside the flood zone.
City water and sewer are connected, with assessments paid in full. The duplex is positioned across from Cultural Park and near Pine Island Road, with access to Fort Myers without a toll. Shopping, dining, and entertainment are located minutes away.
City water and sewer are connected, with assessments paid in full. The duplex is positioned across from Cultural Park and near Pine Island Road, with access to Fort Myers without a toll. Shopping, dining, and entertainment are located minutes away.
Key Highlights
- Two‑unit duplex with 2,418 square feet of living space
- Each residence includes 3 bedrooms, 2 full baths, and 1,209 square feet
- Attached 1‑car garage provided for each unit
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
$32,005
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
6.54%
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%
$640,100
$640.1K
Cap Rate 7%
$457,214
$457.2K
Cap Rate 9%
$355,611
$355.6K
Market Conditions
NOI Build-Up for 2,418 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
$47.9K $19.80/SF
− Vacancy
−$2.2K −$0.89/SF
EGI
$45.7K $18.91/SF
− OpEx
−$13.7K −$5.67/SF
NOI
$32.0K $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%
$640,100
Cap Rate 7%
$457,214
Cap Rate 9%
$355,611
Alternative Uses
Best Use
Multifamily LT 5
$457.2K
$400.1K – $533.4K
NOI $32,005 @ 7.0% cap · market cap 6.54%
Second Best
Apartment 5plus
$423.7K
$370.8K – $494.3K
NOI $29,660 @ 7.0% cap · market cap 6.07%
Theoretical Best
Office A
$627.4K
$549.0K – $732.0K
NOI $43,919 @ 7.0% cap · market cap 8.98%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Current Use
Lease Details
2
Residential units
Yes
Utilities to site
Location Intelligence
Trade Area within ½ mile
821
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
Realmo’s AI knows this listing — price, zoning, demand, history. Ask anything.
Frequently Asked Questions
What type of property is this?
Duplex - Two updated units provide separate utility metering, private garages, and low-maintenance interior finishes.
Where is this duplex located?
The property is located at 823/825 Cultural Park Blvd S 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: Two‑unit duplex with 2,418 square feet of living space; Each residence includes 3 bedrooms, 2 full baths, and 1,209 square feet; Attached 1‑car garage provided for each unit
