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Property profile & analytics
FOR SALE
Office buildings
447 Cape Coral Pkwy E Cape Coral, FL 33904
Entity Owned
5-yr Hold
Free & Clear
Property ID
US18-3123768
For Sale
1 / 8
$1,450,000
447 Cape Coral Pkwy E, Cape Coral, FL 33904
View Listing →
Property profile
Verified
Property type
Office buildings
Use group
OFFICE BUILDING (MULTI-STORY)
Year built
2000
Construction
MASONRY/CONCRETE MASONRY UNITS (CMUS)
Total area
9,015 SF
Lot
0.8 ac (34,935 SF)
Zoning code
MXB
APN
13-45-23-C2-00086.0210
UPID
US18-3123768
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
-
Apollo Pharmacy Pharmacy
-
Avanti Salon & Day Spa Hair Salon
-
Ashish Patel Pharmacy
-
Nail Club Nail Salon
-
Kimberly Hansen Carpet Store Carpet & Flooring Store
Value estimations
Realmo proprietary · 4 methods
AI Approach
AI
$1.49M
CAP Approach
CAP
by Request
Comparable Approach
Comparable
$1.37M
Blend (final)
Blend
$1.45M
Owner & transaction history
Alegian Group INC · 5 yrs held
Alegian Group INC
since 2020
Last sale
$999,500
7 recorded transactions
Zoning & alternative use
MXB · Cape Coral, FL
Permitted uses
Permitted uses
Allowed · conditional · prohibited
Zoning description
Mixed Use Bimini (MXB). This district is to promote redevelopment and enhancement of the Bimini Basin area of Cape Coral to create a destination for residents and visitors, consistent with the Downtown Mixed Future Land Use Classification and the Bimini Basin Revitalization and Implementation Plan. This district encourages mixed-use development. Existing com…
Zone name
Mixed Use Bimini
General category
MIXED_USE
Zone area
80.09 ac
Source
code of ordinances
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
Method
Estimation
Statistic approach
$1,450,000
ML approach
$1,490,000
CAP Approach
CAP Return
Estimation
6%
by Request
6.5%
by Request
7%
by Request
Alternative Use
Use
Estimation
OFFICE BUILDING
$1,805,000
Current use
WAREHOUSE, STORAGE
$1,600,000
Change: -11% · Conversion: Difficult
Blend value · Realmo final
$1.45M
Range $1.31M – $1.60M · ±10% · vs last sale $1,000k (Dec 7 2020)
Last sale anchor
$1,000k
Dec 7 2020
Realmo estimate · informational only.
These numbers are calculated by our models from public records and may not reflect actual market value.
Not an appraisal.
Verify with a licensed appraiser before transacting. Realmo accepts no liability for divergence from real-world outcomes.
View the full estimation — every method, every assumption
Confidence drivers & risk notes · Custom comparable set · Free for first 3 / day
Full estimation methodology
Every method · every assumption · confidence drivers
Price per SF
Sale + rent benchmarks
Subject property
$161 / SF
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
$21,245
Tax year 2023
Assessed value
$1,330,703
Assessed 2023
Previous assessed
$1,027,628
+29.5% YoY
Effective rate
1.60%
On assessed value
Assessed land
$464,007
Assessed improvement
$866,696
Land market value
$464,007
Improvement market value
$866,696
Total market value
$1,330,703
Applied tax rate
56.0000
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
Office buildings
Use group
OFFICE BUILDING (MULTI-STORY)
Status
For Sale
Year built
2000
Construction
MASONRY/CONCRETE MASONRY UNITS (CMUS)
Heating
FORCED AIR
Cooling
AC.PACKAGE
Stories
1
Total area
9,015 SF
Lot
0.8 ac (34,935 SF)
Zoning code
MXB
APN
13-45-23-C2-00086.0210
UPID
US18-3123768
Jurisdiction
LEE
Zoning & alternative use
MXB · Cape Coral, FLZoning MXB · permitted uses
MXB · Cape Coral, FL
Permitted & conditional uses
Allowed uses · Special-permit conditions · Prohibited uses
Permitted & conditional uses
Allowed · special-permit conditions · prohibited
Zoning description
Mixed Use Bimini (MXB). This district is to promote redevelopment and enhancement of the Bimini Basin area of Cape Coral to create a destination for residents and visitors, consistent with the Downtown Mixed Future Land Use Classification and the Bimini Basin Revitalization and Implementation Plan. This district encourages mixed-use development. Existing commercial and professional buildings will be supplemented with entertainment activities and a wide diversity of housing types to create a vibrant work, live, shop, and play district that serves the entire city and region. 5. This district is intended to implement master plan recommendations for the Bimini Basin Area. A further objective is to foster a sense of place and create a destination environment in southeastern Cape Coral. To achieve these objectives, the MXB district allows a more flexible approach to comprehensive design and coordinated development of a multi-use neighborhood than is possible under other zoning classifications. 6.
Zone name
Mixed Use Bimini
General category
MIXED_USE
Zone area
80.09 ac
Source
code of ordinances
Alternative use value scenarios
Repositioning upside vs current use
OFFICE BUILDING Current
Est. value
$1.8M
WAREHOUSE, STORAGE
Est. value
$1.6M
OFFICE BUILDING Current
WAREHOUSE, STORAGE
Alternative use deep dive — conversion cost, permits, timeline
Conversion cost estimate · Permit path & risks · Stabilized NOI per option
Alternative use deep dive
Conversion cost · permit path · stabilized NOI per option
Building & site characteristics
From public records
Year built
2000
Construction
MASONRY/CONCRETE MASONRY UNITS (CMUS)
Heating
FORCED AIR
Cooling
Yes
Stories
1
Lot
0.8 ac
Current owner
From public records · entity-resolved
Alegian Group INC
Entity
Free & Clear · 5 yrs held
Mailing address
1925 NE 10TH TER STE #101, CAPE CORAL, FL 33909-1765
Ownership since
2020
Owner contacts — direct phone, email, and related entities
Decision-maker phone · Verified email · Related entities & filings
Owner contacts
Email · phone · related entities
Sales History
10 recorded events · public records
Date
Price
Buyer
Seller
Deed Type
Mortgage
Dec 7, 2020
$999,500
Alegian Group INC
Joel R Shapiro Ents INC
Warranty Deed
—
Nov 22, 2016
—
Joel R Shapiro Ents INC
—
Deed
related
$600,000 · Vystar Cu
May 7, 2014
$1,072,000
Joel R Shapiro Enterprises INC
Richard D Barton
Warranty Deed
$911,200 · Branch Banking And Trust Co
May 7, 2014
—
Barton,richard D Trust
Barton,richard D & Nancy D
Quit Claim Deed
related
—
Apr 28, 2011
—
Barton Richard D Trust
Barton,richard D & Nancy D
Quit Claim Deed
related
—
Feb 5, 2001
$848,000
Richard D Barton
Eshaghian Trust
Grant Deed
$873,000 · Cape Coral National Bank
—
—
Joel R Shapiro Ents INC
—
Deed Of Trust
related
$3,505,000 · Vystar Cu
—
—
Joel R Shapiro Ents INC
—
Loan Modification
related
$448,000 · Vystar Cu
—
—
Joel R Shapiro Ents INC
—
Loan Modification
related
$652,000 · Vystar Cu
—
—
Joel R Shapiro Ents INC
—
Loan Modification
related
$600,000 · Vystar Cu
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.
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