Canal-Side
For Sale
$489,000
823 /825 Cultural Park Boulevard S, Cape Coral, FL 33990
Built in 2023, the property pairs two three-bedroom units with separate utility metering.
Property Size2,418 SF
Price / SF$202.23
Days on Market82
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Property Features for 823 /825 Cultural Park Boulevard S
General Information
Standard status
Active
Size
2,418 SF
Total Parking Spaces
2
Property subtype
Multi-Family
Units
Unit Mix
2 x 3BR/2BA
Multifamily Units
2
Parking per Unit
1
Additional Details
Utilities to Site
Yes
Building Details
Year Built
2023
Listing Agency:
RE/MAX Trend
Listed By:
James Sommers · License #258004921
(239) 851-2351
Source:
Swfloridarealestate
Added: Jul 26
Changed: Oct 13
Last Checked: Oct 7 at 2:49PM
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.
Completed in 2023, this duplex contains two 1,209-square-foot residences within a 2,418-square-foot property. Each unit offers three bedrooms, two full bathrooms, an attached one-car garage, tile flooring, vaulted ceilings, and granite countertops. The residences are separately metered for electric and water, while each includes its own utility connection. The property sits along a freshwater canal and is designated outside the flood zone. City water and sewer are in place, with assessments paid in full.
The duplex is positioned across from Cultural Park and near Pine Island Road in Cape Coral. Fort Myers is accessible without a toll, and shopping, dining, and entertainment are located minutes away.
The duplex is positioned across from Cultural Park and near Pine Island Road in Cape Coral. Fort Myers is accessible without a toll, and shopping, dining, and entertainment are located minutes away.
Key Highlights
- Two 1,209‑square‑foot units totaling 2,418 square feet
- Each residence includes 3 bedrooms, 2 full bathrooms, and an attached 1‑car garage
- Built in 2023 with tile flooring, vaulted ceilings, and granite countertops
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$32,005
Cap Rate
6.54%
Suggested Prices Based on Cap Rates
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
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 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.
How Realmo checks its estimates
Property Analytics
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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
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Cap Rate, Value Estimation, Potential NOI and more
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Market
Vacancy Rate% for Multifamily in South region
Frequently Asked Questions
What type of property is this?
Duplex - Built in 2023, the property pairs two three-bedroom units with separate utility metering.
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: Two 1,209‑square‑foot units totaling 2,418 square feet; Each residence includes 3 bedrooms, 2 full bathrooms, and an attached 1‑car garage; Built in 2023 with tile flooring, vaulted ceilings, and granite countertops
