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    The Largest CRE Database in the US with Over 1 Million Listings
    Property profile & analytics

    422 2nd Pl Cape Coral, FL 33909-1955

    • Office buildings
    • 9,313 SF
    • 1.26 lot acres
    OFF-MARKET
    Value Estimations
    $2,130,000
    Show details
    Cap Rate Potential
    Location Intelligence
    Property ID
    US18-1431999
    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.

    Current Use by Public Records

    • Flagler Insurance Agency / Insurance Agency
    • Branch Of Life Church / Church
    • myKonnectMD / Physician
    • all across medical transportation / Freight Service / Logistics Company
    • LOVING HEART ADULT DAY CARE INC / Adult Day Care

    Property Details for 422 2nd Pl

    Year built
    2008
    Construction
    MASONRY/CONCRETE MASONRY UNITS (CMUS)
    Lot size
    1.26 lot acres
    Property size
    9,313 SF
    Zone code
    CORR CORR
    Property type
    Office buildings
    APN
    12-44-23-C4-02373.0050
    APU
    124423C4023730050

    Value Estimations

    based on Realmo’s proprietary methodology

    • CAP approach

      CAP Return
      Estimation
      6%
      $2,345,000
      6.5%
      $2,165,000
      7%
      $2,010,000

    • Comparable approach

      Method
      Estimation
      Statistic Estimate
      $2,191,000
      Market price range: $1.41M - $2.77M
      AI Estimate
      $2,039,000
      Market price range: $1.00M - $2.75M

    • Alternative Use

      Use
      Estimation
      OFFICE BUILDING
      $2,005,000
      Current use
      NEIGHBORHOOD: SHOPPING CENTER
      $3,410,000
      Change: +70% Conversion: Difficult
      MEDICAL BUILDING
      $2,860,000
      Change: +42% Conversion: Easy
      RETAIL STORES
      $2,835,000
      Change: +41% Conversion: Moderate
      WAREHOUSE, STORAGE
      $1,760,000
      Change: -12% Conversion: Difficult

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

    Location Insight

    • Map
    • Local Demand
    City
    Cape Coral
    County
    Lee
    State
    Florida
    Longitude
    -81.9679
    Latitude
    26.6586
    CBSA code
    15980
    CBSA name
    CAPE CORAL-FORT MYERS, FL METROPOLITAN STATISTICAL AREA

    Property Tax & Assessments

    Tax date
    Tax Amount
    Assessed Land Value
    Assessed Improvement Value
    Total Assessed Value
    Applied Tax Rate
    Land Market Value
    Improvement Market Value
    Total Market Value
    2023
    $28,634
    $609,879
    $1,574,270
    $2,184,149
    -
    $609,879
    $1,574,270
    $2,184,149

    Comparable in this City

    • Value Estimation by Request
      687 SF

      441 Del Prado Blvd N Ste, Unit 7

      PROFESSIONAL BUILDING • 687 SF
      441 Del Prado Blvd N Ste, Cape Coral, FL 33909-2220
      View Details
    • Value Estimation
      $1,725,000
      6,276 SF

      1130 Pondella Rd, Unit 1142

      OFFICE BUILDING (MULTI-STORY) • 6,276 SF
      1130 Pondella Rd, Cape Coral, FL 33909-5114
      View Details
    • Value Estimation by Request
      874 SF

      19 Del Prado N Blvd, Unit 1

      OFFICE BUILDING (MULTI-STORY) • 874 SF
      19 Del Prado N Blvd, Cape Coral, FL 33909-6307
      View Details
    • Value Estimation
      $535,000
      5,080 SF

      922 8th St

      OFFICE BUILDING (MULTI-STORY) • 5,080 SF
      922 8th St, Cape Coral, FL 33909-3176
      View Details
    • Value Estimation by Request
      861 SF

      19 Del Prado Blvd N Ste, Unit 2

      OFFICE BUILDING (MULTI-STORY) • 861 SF
      19 Del Prado Blvd N Ste, Cape Coral, FL 33909-2758
      View Details
    • Value Estimation
      $2,685,000
      9,819 SF

      420 Del Prado N Blvd

      OFFICE BUILDING (MULTI-STORY) • 9,819 SF
      420 Del Prado N Blvd, Cape Coral, FL 33909-2211
      View Details

    Similar Nearby for Sale

    • $2,600,000
      9,188 SF

      9,188 SF Office Building

      9,188 SF office building with month-to-month tenants.
      910-912 Del Prado Blvd S, Cape Coral, FL 33909
      View Details
    • $4,250,000
      Pending

      Cape Coral Investment Opportunity

      Investment property with significant upside and development potential.
      1036 NE Pine Island Rd, Cape Coral, FL 33909
      View Details
    • $250,000
      0.34 Acres

      Cape Coral Commercial Opportunity

      Oversized commercial lot in a high-growth Cape Coral business district.
      816 NE 9Th St, Cape Coral, FL 33909
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    • $279,500
      1,215 SF

      Cape Coral Flex Space Condo

      Versatile 1,215 SF flex space condo in Cape Coral, FL.
      413 NE Van Loon Ln, Cape Coral, FL 33909
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    • $2,350,000
      0.91 Acres

      Cape Coral Office Warehouse Complex

      Well-maintained industrial warehouse building with extensive upgrades on fenced lot.
      2528 Andalusia Blvd, Cape Coral, FL 33909
      View Details
    • $44,999
      0.23 Acres

      Cape Coral Land For Sale

      Residential lot in NE Cape Coral, close to Fort Myers.
      1817 NE 17Th Ave, Cape Coral, FL 33909
      View Details

    Similar Nearby for Lease

    • $16 SF/Yr
      16,050 SF

      Cape Coral Flex Space Available

      Six versatile units, customizable flex space.
      1490 Pine Island Rd, Cape Coral, FL 33909
      View Details
    • $1,900 /Mo
      73,094 SF

      Warehouse with Office Space Available

      Warehouse space with office in North Cape Industrial Park.
      909 NE 27Th Ln, Cape Coral, FL 33909
      View Details
    • $18 SF/Yr
      5,750 SF

      New Office/Flex Building For Lease

      Newly constructed office/flex building with build-to-suit opportunity in Cape Coral.
      805 NE 8Th St, Cape Coral, FL 33909
      View Details
    • $17 SF/Yr
      33,479 SF

      Cape Coral Flex Space Available

      Flex space available for lease in Cape Coral, Florida.
      911 East Industrial Cir, Cape Coral, FL 33909
      View Details
    • $2,100 /Mo
      73,094 SF

      Cape Coral Warehouse with Office

      Warehouse space with office in North Cape Industrial Park.
      909 NE 27Th Ln, Cape Coral, FL 33909
      View Details
    • $17 SF/Yr
      6,795 SF

      Industrial Warehouse Space Available

      6,795 SF warehouse with overhead doors for lease.
      901 E Industrial Cir, Cape Coral, FL 33909
      View Details
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    422 2nd Pl
    Cape Coral, FL 33909-1955
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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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