1002 12Th Ter Cape Coral, FL 33990
- Apartment buildings
- 7,022 SF
- 0.46 lot acres
Current Use by Public Records
- Apartment buildings
Property Details for 1002 12Th Ter
- Year built
- 1980
- Lot size
- 0.46 lot acres
- Property size
- 7,022 SF
- Property type
- Apartment buildings
Description
This 7-unit apartment building in Cape Coral, Florida presents a compelling value-add investment opportunity. The property, built in 1980, boasts 7,022 square feet of rentable space situated on a 0.46-acre lot. The building comprises a mix of unit configurations: two 2-bedroom/1-bathroom units, four 2-bedroom/2-bathroom units, and one 3-bedroom/2-bathroom unit. Currently operating at 100% occupancy, the property generates a Net Operating Income (NOI) of $80,683, with a pro-forma NOI projected at $98,455, representing a 5.76% current cap rate and a 7.03% pro-forma cap rate. The asking price is $1,400,000, or $200,000 per unit. Located just off Country Club Boulevard, this single-story building benefits from its proximity to essential services, including the Cape Coral Police Department and Fire Station, as well as numerous amenities such as Sun Splash Family Waterpark, Tarpon Point Marina, and the Cape Coral Historical Museum. The property's strategic location near major employers like Lee Health Cape Coral Hospital and Publix Super Markets, along with its potential for rental increases, makes it an attractive investment prospect. The property is offered fee simple. Seller financing options are available. This is a rare chance to acquire a multifamily property in the desirable "Waterfront Wonderland" of Cape Coral.
Value Estimation
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CAP approach
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Comparable approach
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Alternative Use
Location Insight
- Map
- Local Demand
- City
- Cape Coral
- County
- Lee
- State
- Florida
- Longitude
- -81.9556
- Latitude
- 26.6291
