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Property profile & analytics
OFF-MARKET
Warehouses
407 2nd Ter Cape Coral, FL 33991-1944
Entity Owned
17-yr Hold
~
Est. High Equity
Property ID
US18-1446637
Property profile
Verified
Property type
Warehouses
Use group
WAREHOUSE, STORAGE
Year built
2002
Construction
MASONRY/CONCRETE MASONRY UNITS (CMUS)
Total area
2,970 SF
Lot
0.8 ac (34,979 SF)
Zoning code
CORR
APN
14-44-23-C1-01947.0130
UPID
US18-1446637
Cap rate & NOI
Priority signal for investors
Implied cap rate, NOI & suggested price
Cap rate vs submarket · NOI estimate · 3 price anchors
Implied cap rate, NOI & suggested price
Cap vs submarket · NOI estimate · 3 price anchors
Current use
Occupant on record · Public records
-
IAFF Local 2424 Advocacy Group
-
Cape Coral Professional Fire Fighters Advocacy Group
Value estimations
Realmo proprietary · 4 methods
AI Approach
AI
by Request
CAP Approach
CAP
by Request
Comparable Approach
Comparable
by Request
Blend (final)
Blend
by Request
Owner & transaction history
Cape Coral Firefighters Building Co · 17 yrs held
Cape Coral Firefighters Building Co
since 2009
6 recorded transactions
Zoning & alternative use
CORR · Cape Coral, FL
Permitted uses
Permitted uses
Allowed · conditional · prohibited
Cap rate
Implied · in-place · derived from last sale + estimated NOI
Implied Cap rate
#1
Implied · in-place · NOI ÷ last sale
In-place · derived from last sale + estimated NOI
Cap rate, NOI & submarket benchmark
Implied cap rate vs Cape Coral submarket · NOI estimate · Typical band, median & reading
Implied cap rate, NOI & submarket benchmark
Cap vs Cape Coral submarket · NOI estimate · typical band, median & reading
Refine your cap rate
8-question underwriting flow
1.
Property current status — Going-In vs Stabilized
2.
Price for denominator — asking / offer / market
3.
Leasing status & lease structure (NNN / Gross)
4.
Tenant risk profile & vacancy assumption
5.
Upload T12 / rent roll / OM (optional)
Refine in 60 seconds, get exact suggested price
T12 upload · Submarket benchmarks · Sensitivity grid
Suggested price · 3 cap rate anchors
Income approach @ 5% / 7% / 9% — aggressive / typical / conservative
Suggested price at 5% / 7% / 9% cap
Aggressive / typical / conservative · Implied $/SF per anchor · Sensitivity grid
Suggested price at 5% / 7% / 9% cap
Aggressive / typical / conservative · implied $/SF · sensitivity
Value
AI, CAP & Alternative Use estimations · Realmo proprietary blendValue Estimations
Based on Realmo’s proprietary methodology
AI Approach
CAP Approach
Comparable Approach
Alternative Use
Get a detailed, property-specific estimation — fast and free
Price per SF
Sale + rent benchmarks
Subject property
—
Submarket sale & rent benchmarks
Median sale $/SF · Asking & closed rent · Submarket vacancy
Submarket sale & rent benchmarks
Median sale $/SF · asking & closed rent · submarket vacancy
Property tax & assessments
Tax year 2023Property tax & assessments
Tax year 2023
Tax billed
$6,717
Tax year 2023
Assessed value
$564,840
Assessed 2023
Previous assessed
$359,619
+57.1% YoY
Effective rate
1.19%
On assessed value
Assessed land
$210,588
Assessed improvement
$354,252
Land market value
$210,588
Improvement market value
$354,252
Total market value
$564,840
Applied tax rate
57.0000
Comparables
6 recent transactions · within 1.5 miComparable in this city
6 recent transactions
Comparable in this City
Similar Nearby for Sale
Similar Nearby for Lease
Recent comparable sales
Sale price & price/SF · Sale date & distance · Adjustments & confidence
Recent comparable sales
Sale price & $/SF · sale date & distance · adjustments
Property description
Physical attributes from public recordsBuilding & lot
Public records
Property type
Warehouses
Use group
WAREHOUSE, STORAGE
Status
Off-Market
Year built
2002
Construction
MASONRY/CONCRETE MASONRY UNITS (CMUS)
Heating
NONE
Cooling
NONE
Stories
1
Bathrooms
2
Total area
2,970 SF
Lot
0.8 ac (34,979 SF)
Zoning code
CORR
APN
14-44-23-C1-01947.0130
UPID
US18-1446637
Jurisdiction
LEE
Zoning & alternative use
CORR · Cape Coral, FL
Zoning CORR · permitted uses
CORR · Cape Coral, FL
Permitted & conditional uses
Allowed uses · Special-permit conditions · Prohibited uses
Permitted & conditional uses
Allowed · special-permit conditions · prohibited
Cape Coral. Always verify with local authorities before improvements.
Building & site characteristics
From public records
Year built
2002
Construction
MASONRY/CONCRETE MASONRY UNITS (CMUS)
Heating
NONE
Cooling
Yes
Stories
1
Bathrooms
2
Lot
0.8 ac
Current owner
From public records · entity-resolved
Cape Coral Firefighters Building Co
Entity
Mailing address
407 SW 2ND TER, CAPE CORAL, FL 33991-1944
Mailing matches property
Yes
Owner-occupied
Yes
Ownership since
2009
Owner contacts — direct phone, email, and related entities
Decision-maker phone · Verified email · Related entities & filings
Owner contacts
Email · phone · related entities
Sales History
6 recorded events · public records
Date
Price
Buyer
Seller
Deed Type
Mortgage
Feb 25, 2009
$450,000
Cape Coral Firefighters Building Co
Michael A Patrick
Warranty Deed
$344,000 · Wachovia Bank NA
Dec 27, 2007
—
Michael A Patrick
—
Trustees Deed
related
$150,000 · Riverside Bank Gulf Coast
Sep 27, 2002
—
Michael A Patrick
—
Trustees Deed
related
$140,000 · Riverside Bank Gulf Coast
Nov 24, 1998
$7,000
Baywood Construction INC
Goodrich,rose M
Grant Deed
—
—
—
Michael A Patrick
—
Deed Of Trust
related
$20,000 · Riverside Bank Gulf Coast
—
—
Michael A Patrick
—
Deed Of Trust
related
$60,000 · Riverside Bank Gulf Coast
Coming soon
Costs & Benchmarks
Operating expenses, capex projections, utility benchmarks, and submarket comparables — all in one view.
Coming soon
Risks
Flood, climate, environmental, title, and tenant-concentration risk — surfaced with mitigations and source citations.
Try Rey
Ask anything about this address in plain English.
“Is 15.6% cap rate sustainable?” · “Best tenant mix for BU1?” · “What’s the redev upside?”
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