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

    506 47th Ter Cape Coral, FL 33904-8517

    • Medical offices
    • 4,891 SF
    • 0.46 lot acres
    OFF-MARKET
    Value Estimations
    $940,000
    Show details
    Cap Rate Potential
    Location Intelligence
    Property ID
    US18-3353660
    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

    • MD Solutions LLC / Software Company
    • RX Imaging of SWFL / Medical Diagnostic Imaging Center / Family Practice Physician
    • Radiology Mir Ct X-Ray / Medical Clinic
    • healthy community center / Mental Health Service / Care Services
    • Dr. Robert K. Purser, MD / Doctor

    Property Details for 506 47th Ter

    Year built
    2002
    Construction
    MASONRY/CONCRETE MASONRY UNITS (CMUS)
    Lot size
    0.46 lot acres
    Property size
    4,891 SF
    Zone code
    SC
    Property type
    Medical offices
    Property subtype
    Medical centers
    APN
    12-45-23-C3-00085.0340
    APU
    124523C3000850340

    Description

    This 4,891 sq ft Class B medical office building in Cape Coral, FL, is a prime investment opportunity. Currently 100% occupied by two tenants: an owner-user MRI center (including equipment) and a physician services & rehab practice. The building features dedicated MRI and X-ray rooms, representing approximately $2,000,000 in improvements, built to medical imaging standards. The property boasts a highly desirable location, next to Lee Physician Group and near the upcoming Lee Health Clinic at Bimini Square (slated to open Summer 2025), a development including retail, office space, a waterfront restaurant, and 218 apartments. Benefiting from high traffic counts (over 35,000 AADT on Cape Coral Parkway E. and Palm Tree Drive), this single-story, 2-unit building sits on one parcel from Cape Coral Parkway. The property is zoned MXB and offers a strong investment potential in a rapidly growing area (Lee County adds 90 residents daily). The medical tenant leases 2,800 square feet. This is an owner-user opportunity with a strong existing tenant base. The building was constructed in 2002.

    Value Estimations

    based on Realmo’s proprietary methodology

    • CAP approach

      CAP Return
      Estimation
      6%
      $1,020,000
      6.5%
      $940,000
      7%
      $875,000

    • Comparable approach

      Method
      Estimation
      AI Estimate
      $974,000
      Market price range: $453k - $1.29M

    • Alternative Use

      Use
      Estimation
      MEDICAL BUILDING
      $1,500,000
      Current use

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

    Location Insight

    • Map
    • Local Demand
    City
    Cape Coral
    County
    Lee
    State
    Florida
    Longitude
    -81.9632
    Latitude
    26.5635
    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
    $13,889
    $214,220
    $1,000,728
    $1,214,948
    -
    $214,220
    $1,000,728
    $1,214,948

    Comparable in this City

    • Value Estimation
      $705,000
      3,380 SF

      1321 47th Ter

      MEDICAL BUILDING • 3,380 SF
      1321 47th Ter, Cape Coral, FL 33904-9674
      View Details
    • Value Estimation by Request
      1,462 SF

      407 Cpe Coral E Pkwy

      MEDICAL BUILDING • 1,462 SF
      407 Cpe Coral E Pkwy, Cape Coral, FL 33904-8538
      View Details
    • Value Estimation
      $620,000
      1,862 SF

      3632 Del Prado S Blvd

      MEDICAL BUILDING • 1,862 SF
      3632 Del Prado S Blvd, Cape Coral, FL 33904-7107
      View Details
    • Value Estimation by Request
      1,250 SF

      3625 Del Prado S Blvd

      MEDICAL BUILDING • 1,250 SF
      3625 Del Prado S Blvd, Cape Coral, FL 33904-7140
      View Details
    • Value Estimation
      $1,735,000
      5,818 SF

      4113 Del Prado S Blvd, Unit 4121

      MEDICAL BUILDING • 5,818 SF
      4113 Del Prado S Blvd, Cape Coral, FL 33904-7164
      View Details
    • Value Estimation
      $555,000
      3,528 SF

      1338 Lafayette St

      MEDICAL BUILDING • 3,528 SF
      1338 Lafayette St, Cape Coral, FL 33904-9770
      View Details

    Similar Nearby for Sale

    • Contact for pricing
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    • Contact for pricing
      4,891 SF

      Medical Office Building with MRI

      Medical office building with existing MRI center in Cape Coral.
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    • New
      $5,650,000
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      Gulf Access Multi-Tenant Office Building

      Two-story office building with Gulf access, investment or end-user opportunity.
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    • $28,750,000
      0.33 Acres

      Mixed-Use Development Site with Plans

      Mixed-use development site with approved plans in downtown Cape Coral.
      1415 Cape Coral Pkwy E, Cape Coral, FL 33904
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    • New
      $1,050,000
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      Cape Coral Commercial Opportunity

      Versatile commercial property in thriving Cape Coral location.
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      Two-unit building in Cape Coral's CRA district with flexible zoning.
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    Similar Nearby for Lease

    • $217,200
      22,521 SF

      New Office Building For Lease

      Brand new office building with flexible space, available for lease.
      1217 SE 47Th St, Cape Coral, FL 33904
      View Details
    • $1,600 /Mo
      9,409 SF

      Cape Coral Commercial Office Space

      Commercial unit in Cape Coral, ideal for office space.
      1211 Miramar St, Cape Coral, FL 33904
      View Details
    • New
      $2,950 /Mo
      18,069 SF

      Cape Coral Commercial Space Available

      Air-conditioned office and warehouse space in downtown Cape Coral.
      4519 SE 16Th Pl, Cape Coral, FL 33904
      View Details
    • $2,000 /Mo
      800 SF

      Office Space with Storage

      Office space with warehouse storage and convenient location.
      824 SE 47Th St, Cape Coral, FL 33904
      View Details
    • $2,000 /Mo
      6,800 SF

      Downtown Cape Coral Office Space

      Commercial office space for lease in downtown Cape Coral.
      1031 Cape Coral Pkwy E 206208, Cape Coral, FL 33904
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    • $75 SF/Yr
      12,502 SF

      Virtual Office Space Available

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      View Details
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    506 47th Ter
    Cape Coral, FL 33904-8517
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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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