1321 8Th Ave Cape Coral, FL 33990
- Commercial real estate
- 6,098 SF
- 0.38 lot acres
Current Use by Public Records
- Commercial real estate
Property Details for 1321 8Th Ave
- Year built
- 2004
- Lot size
- 0.38 lot acres
- Property size
- 6,098 SF
- Property type
- Commercial real estate
Description
This exceptional investment opportunity presents a six-unit apartment building in Cape Coral, Florida. Built in 2004, this Fee Simple property boasts 6,098 square feet of rentable space across two one-story buildings situated on a 0.38-acre lot. Each of the six large two-bedroom, two-bathroom units features hurricane shutters. The property currently enjoys 100% occupancy, generating a Net Operating Income (NOI) of $85,628, with a pro-forma NOI of $88,364, and a current cap rate of 6.85%, projected to reach 7.07%. The asking price is $1,250,000, translating to $208,333.33 per unit and $204.99 per square foot. Constructed with concrete block and central air conditioning, this Class B multifamily property is ideally located less than a mile from the Cape Coral Police Department and Fire Station, offering tenants peace of mind and proximity to amenities such as Sun Splash Family Waterpark, Tarpon Point Marina, and the Cape Coral Historical Museum. Its strategic location near major employers like Lee Health Cape Coral Hospital and Publix Super Markets, along with the Lee County School District, ensures consistent tenant demand. This value-add investment presents a rare opportunity to capitalize on the potential for increased rental income in a stable, cash-flowing asset within a thriving Florida community. The property is conveniently located near the United States Post Office.
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
- -81.958407724687
- Latitude
- 26.627264640306
