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    Income-Producing Duplex Near Cultural Park Title is generated by Realmo AI

    823/825 Cultural Park Boulevard S, Cape Coral, FL 33990

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    For Sale
    $489,000

    MULTI_FAMILY - Other - Cape Coral, FL

    Property size:
    2,418 SF
    Lot size:
    0.26 Acres
    Price / SF:
    $202/SF
    Added:
    Jun 1, 2026
    Days on Market:
    1
    Last Refresh:
    Jun 1 at 8:06 pm

    Property Features for 823/825 Cultural Park Boulevard S

    General Information

    Property type
    Residential Multi Family
    Property subtype
    Other
    Bedrooms
    6
    Bathrooms
    4
    Rooms
    Bedroom 3, Bedroom 4, Bathroom 1, Bathroom 2, Bedroom 5, Bathroom 4, Bedroom 6, Bedroom 2, Bathroom 3, Bedroom 1
    Patio and Porch features
    Patio
    Pets allowed
    Yes
    Exterior features
    Patio
    Standard status
    Active
    APN
    24-44-23-C2-01155.0240
    Size
    2,418 SF
    Lot size
    0.26 Acres

    Taxes and HOA fees

    Tax Year
    2025
    Tax Description
    CAPE CORAL UNIT 24 BLK 1155 PB 14 PG 77 LOTS 24 + 25
    Tax Annual Amount
    8764

    Utilities

    Sewer type
    Public Sewer
    Heating system
    Electric (Heating), Central
    Cooling system
    Central Air, Electric, Ceiling Fan(s)
    Water source
    Public
    Water front features
    Canal Access
    Water front
    1

    Building Details

    Year built
    2023
    Number of units
    2
    Flooring type
    Tile
    Building materials
    Block, Concrete, Stucco
    Roof type
    Shingle
    Architectural style
    Other

    We can help!

    Listing Contact
    James Sommers
    James Sommers

    Listing agent James Sommers License #258004921

    Listing office RE/MAX Trend 1715 Cape Coral Pkwy W No. 14-16, Cape Coral, FL

    Listing date Jun 1, 2026

    MLS# 2026021138 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

    • Income‑producing duplex: Live in one unit and rent the other to offset mortgage costs.
    • No flood zone: Provides peace of mind and potential insurance savings.
    • City water and sewer: Connected and paid in full.
    • Prime location: Across from Cultural Park and near Pine Island Road.
    • Separate electric and water meters: Tenants pay their own utilities.
    • Modern features: Tile flooring, vaulted ceilings, and granite countertops.

    Overview

    This income-producing duplex presents an opportunity for both owner-occupants and investors. Each unit features 3 bedrooms, 2 full baths, and 1,209 square feet of living space, along with an attached 1-car garage, totaling 6 bedrooms and 4 baths. Interior features include tile flooring throughout, vaulted ceilings, and granite countertops. Each unit is separately metered for electric and water. Situated on a 0.255-acre lot on a freshwater canal, the property offers water views. The property is located in a non-flood zone and is connected to city water and sewer with all assessments paid in full. Located off Cultural Park Boulevard near Pine Island Road, it provides access to Fort Myers. The property is minutes from shopping, dining, and entertainment.

    Local Financial Insights For Multifamily LT 5

    Simulate Cap Rate and NOI

    NOI Build-Up
    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.

    Component $ $/SF
    Gross rent $47.9k $19.80
    − Vacancy −$2.2k −$0.89
    EGI $45.7k $18.91
    − OpEx −$13.7k −$5.67
    NOI $32.0k $13.24
    2,418 SF · lease $19.80/SF/yr · vacancy 4.50% · expense 30.00%

    Alternative Uses

    Best Use
    Multifamily LT 5
    $457.2K
    $400.1K – $533.4K (±1% cap)
    NOI $32,005 @ 7.0% cap · market cap 6.54%
    Second Best
    Apartment 5plus
    $423.7K
    $370.8K – $494.3K (±1% cap)
    NOI $29,660 @ 7.0% cap · market cap 6.07%
    Theoretical Best
    Office A
    $627.4K
    $549.0K – $732.0K (±1% cap)
    NOI $43,919 @ 7.0% cap · market cap 8.98%
    Zoning and permitted uses should be independently verified with local authorities.
    Property Profile Location Intelligence

    Current Use by Public Records

    Duplexes

    Suggested Use

    Restaurant Real Estate Agency Law Firm Spa & Massage Center Building Supply Dental Office Big Box & Wholesale Store Hair Salon Auto Repair Shop Nail Salon

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

    Location Insight

    • Map
    • Local Demand
    City
    Cape Coral
    County
    Lee
    State
    Florida
    Longitude
    -81.958344
    Latitude
    26.636347

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    FAQs

    What type of property is this?
    Duplex - Duplex near Cultural Park with city water and sewer.
    Where is this duplex located?
    The property is located at 823/825 Cultural Park Boulevard 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: Income‑producing duplex: Live in one unit and rent the other to offset mortgage costs.; No flood zone: Provides peace of mind and potential insurance savings.; City water and sewer: Connected and paid in full.
    (239) 851-2351
    We can help!
    Listing Contact
    James Sommers
    James Sommers
    Real Estate License ID: 258004921
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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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