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    Prime Downtown Cape Coral Opportunity Title is generated by Realmo AI

    917 SE 47th Terrace, Cape Coral, FL 33904

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    Versatile commercial asset in a high-visibility location.

    Type:Special Purpose
    Property size:
    8,600 SF
    Price / SF:
    $279/SF
    Added:
    Jan 31, 2026
    Days on Market:
    118
    Last Refresh:
    Mar 17 at 1:14 pm

    Property Features for 917 SE 47th Terrace

    General Information

    Standard status
    Active
    Size
    8,600 SF
    Property subtype
    Special Purpose

    Building Details

    Year Built
    1975

    We can help!

    Listing Contact
    Jack Martin, CCIM
    Jack Martin, CCIM

    Listing agent Jack Martin, CCIM License #FL 548391

    Listing office Century 21 Selling Paradise Cape Coral

    Listing date Jan 31, 2026

    Source Crexi

    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 Century 21 Selling Paradise Cape Coral

    HighLights

    • Prime downtown Cape Coral location in a rapidly growing area with high visibility.
    • Versatile 8,600 sq ft two‑story concrete building suitable for various commercial uses.
    • Two separate entrances and stairways allow for easy separation of floors.
    • Recent capital improvements: new roof (2023), new AC units, impact‑resistant glass, and new flooring/ceiling tiles on the second floor.
    • Ample parking available in both front and rear.
    • Seller is open to financing options and a leaseback of a portion of the space for immediate income.

    Overview

    Located in the heart of Cape Coral's downtown district, this well-maintained two-story concrete building offers approximately 8,600 square feet of space suitable for investors, owner-users, or developers. The first floor, currently operated as a banquet hall, includes a full commercial kitchen with pantry, a conference room, a reception/office area, four restrooms, and ample storage, making it suitable for events, hospitality, restaurant, or adaptive commercial use. The second floor features three large classrooms, additional office space, and two restrooms, well-suited for professional offices, educational facilities, medical or wellness uses, or co-working space. The building has two separate entrances and two stairways, allowing the second floor to be easily separated from the first, so an owner can occupy one level while leasing the other. Ample parking is available in the front and rear of the property. Recent capital improvements include a new roof (2023), new AC units, impact-resistant glass, and new flooring and ceiling tiles on the second floor. The seller is open to financing options and would also consider a leaseback of a portion of the space, providing immediate income potential for a new owner. This property offers possibilities to bring your vision to life.

    Local Financial Insights For Specialty Retail

    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 $185.8k $21.60
    − Vacancy −$3.7k −$0.43
    EGI $182.0k $21.17
    − OpEx −$45.5k −$5.29
    NOI $136.5k $15.88
    8,600 SF · lease $21.60/SF/yr · vacancy 2.00% · expense 25.00%

    Alternative Uses

    Best Use
    Specialty Retail
    $1.95M
    $1.71M – $2.28M (±1% cap)
    NOI $136,534 @ 7.0% cap · market cap 5.69%
    Second Best
    Office B
    $1.74M
    $1.52M – $2.03M (±1% cap)
    NOI $121,712 @ 7.0% cap · market cap 5.07%
    Theoretical Best
    Office A
    $2.23M
    $1.95M – $2.60M (±1% cap)
    NOI $156,204 @ 7.0% cap · market cap 6.51%
    Zoning and permitted uses should be independently verified with local authorities.
    Property Profile Location Intelligence

    Current Use by Public Records

    America's Boating Club/Cape ... Boat Club Cape Coral Power ... Association / Organization Royal Portable Toilets Production Facility Royal Portable Toilet ... Production Facility

    Suggested Use

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

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

    Location Insight

    • Map
    • Local Demand
    City
    Cape Coral
    County
    Lee
    State
    Florida
    Longitude
    -81.9531978
    Latitude
    26.5639892

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    FAQs

    What type of property is this?
    Wedding venue - Versatile commercial asset in a high-visibility location.
    Where is this wedding venue located?
    The property is located at 917 SE 47th Terrace Cape Coral, FL.
    What is the asking price?
    The asking price for this property is $2,400,000.
    What are key features of this property?
    This property features: Prime downtown Cape Coral location in a rapidly growing area with high visibility.; Versatile 8,600 sq ft two‑story concrete building suitable for various commercial uses.; Two separate entrances and stairways allow for easy separation of floors.
    (248) 444-6481 Call to check price and availability
    We can help!
    Contact for Pricing
    Please call us for current price
    and status of this listing Jack Martin, CCIM
    Jack Martin, CCIM
    Real Estate License ID: FL 548391
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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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