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    1429 15Th Ave Cape Coral, FL 33909

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    1429 15Th Ave Cape Coral, FL 33909

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    • Commercial real estate
    Off-Market
    Property ID
    US18-3598991
    The Realmo ID is a unique identifier assigned to every property, incorporating country codes and precise geo-coordinates for 300x300-foot land blocks. It enables standardized data collection and seamless integration of disparate sources such as ownership, tax, title data and physical specifications. By aggregating current and historical records, the Realmo ID powers advanced analytics and delivers deep, verifiable insights for real estate professionals.
    Value Estimations
    Cap Rate Potential
    Location Intelligence

    Current Use by Public Records

    • Commercial real estate

    Property Details for 1429 15Th Ave

    Property type
    Commercial real estate

    Description

    This exceptional 1429 NE 15th Ave land parcel presents a remarkable multifamily development opportunity in the thriving Cape Coral, Florida market. Located in Lee County, zip code 33909, this property boasts a prime location on the west side of Del Prado Boulevard, just south of Diplomat Parkway East, and north of a significant retail area. Classified as Residential Multifamily Low (RML), the zoning allows for the construction of up to 16 units per acre, offering substantial development potential. The site's strategic position within Cape Coral ensures convenient access to major roadways, shopping centers, and other amenities. This is an ideal investment for developers seeking to capitalize on the strong demand for multifamily housing in this rapidly growing Florida city. The property's latitude and longitude coordinates are 26.67959 and -81.942657 respectively. This land parcel offers a unique chance to create a thriving residential community in a highly desirable location. The address is clearly identified as 1429 NE 15th Ave, Cape Coral, FL 33909. This is a rare opportunity to acquire land suitable for a significant multifamily development project in a prime location.

    Value Estimations

    based on Realmo’s proprietary methodology

    • AI approach

    • CAP approach

    • Comparable approach

    • Alternative Use

    Get a detailed, property-specific estimation — fast and free

    Location Insight

    • Map
    • Local Demand
    City
    Cape Coral
    County
    Lee
    State
    Florida
    Longitude
    -81.942657
    Latitude
    26.67959

    Comparable in this City

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      Cape Coral Multifamily Development Opportunity

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      Cape Coral Land For Sale

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    Similar Nearby for Sale

    • $99,000
      0.28 Acres

      Oversized Lot for Income Duplex

      High and dry lot ready for duplex construction with utilities.
      2120 Andalusia Blvd, Cape Coral, FL 33909
      View Details
    • $75,990
      0.23 Acres

      Cape Coral Multifamily Development Opportunity

      Multifamily lot in a rapidly growing Cape Coral area.
      825 NE 15Th Ln, Cape Coral, FL 33909
      View Details
    • $99,000
      0.28 Acres

      Oversized Lot for Income Duplex

      High and dry lot ready for building an income-producing duplex.
      2210 Andalusia Blvd, Cape Coral, FL 33909
      View Details
    • $115,500
      0.26 Acres

      Cape Coral Corner Lot

      Oversized corner lot with multi-family zoning in Cape Coral, FL.
      2011 Andalusia Blvd, Cape Coral, FL 33909
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    • $75,990
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      Cape Coral Multifamily Development Opportunity

      Multifamily lot in a rapidly growing Cape Coral area.
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    • $55,000
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      Cape Coral Land For Sale

      Land in a rapidly growing neighborhood with convenient access.
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    Similar Nearby for Lease

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      Retail Space in Cape Coral

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      2,500 SF

      Pine Island Road Retail Opportunity

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      Cape Coral Commercial Buildings For Rent

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    Cape Coral, FL 33909
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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.

    More about this property
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