3727 15Th Pl Cape Coral, FL 33904
- Commercial land
- 0.34 lot acres
Current Use by Public Records
- Commercial land
Property Details for 3727 15Th Pl
- Lot size
- 0.34 lot acres
- Zone code
- C-1
- Property type
- Commercial land
- APN
- 06-45-24-C3-00526.0760
- APU
- 064524C3005260760
Description
This exceptional investment opportunity presents 1.33 acres of entitled land in Cape Coral, Florida, with approved plans for a six-story, mixed-use development. The project encompasses 78 units, including 70 workforce housing units designed to meet the area's high demand for affordable housing, and 8,300 square feet of versatile commercial space suitable for various C1-zoned uses. The development is strategically located in South Cape Coral, offering convenient access to major highways, public transportation, and local amenities such as schools, parks, restaurants, and healthcare facilities. The property benefits from the Live Local Bill, requiring 40% of the residential units to be rented to tenants earning less than 120% of the Area Median Income (AMI), which was $88,800 in April 2024. This ensures a stable rental income stream and aligns with community development goals. The approved building and MEP plans significantly reduce development time and costs. Seller financing is available, making this a compelling investment opportunity with strong potential for appreciation given the ongoing growth and development in South Cape Coral. The commercial space offers additional revenue potential through long-term leases. This project offers a blend of workforce housing and commercial space, creating a vibrant and integrated community environment. The asking price is $2,150,000.
Value Estimation
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CAP approach
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Alternative Use
Location Insight
- Map
- Local Demand
- City
- Cape Coral
- County
- Lee
- State
- Florida
- Longitude
- -81.943
- Latitude
- 26.5824
- CBSA code
- 15980
- CBSA name
- CAPE CORAL-FORT MYERS, FL METROPOLITAN STATISTICAL AREA
