$1,450,000
 $7,784 est/mo Sourced by Back At You

430 SW 47th Ter , CAPE CORAL, FL 33914

CAPE CORAL, FL 33914

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Description

With approved building and MEP plans for mixed-use workforce housing and commercial space, this entitled land presents a prime investment opportunity in CP zoning, allowing flexibility for a wide range of uses (confirm with zoning). The development includes 39 workforce housing units and 8,300 square feet of commercial space, blending residential and commercial possibilities and creating the ideal live-work scenario. This property is ideal for developers or entrepreneurs looking to capitalize on the growing demand for affordable housing and commercial opportunities in the area. The 39 workforce housing units are designed with modern, efficient layouts to meet the needs of the local workforce. The 8,300 sq. ft. of commercial space is positioned to accommodate various business uses under CP zoning, providing flexibility and income potential through long-term leases. Located in the bustling South Cape Coral area, this parcel offers convenient access to public transportation, major highways, schools, parks, restaurants, and healthcare facilities. Its strategic location ensures residents a high quality of life and access to local amenities. This investment offers strong potential due to the high demand for workforce housing, ensuring a stable rental market. The commercial space provides opportunities for long-term leases and additional revenue streams. Investing in this property also contributes to the local community by providing much-needed affordable housing and supporting local businesses. The growth potential is significant, with property values expected to rise as the area develops. Please note that this deed-restricted property under the Live Local Bill requires 40% of the units to be rented to individuals earning less than 120% of the Area Median Income (AMI). As of April 2024, the AMI in Cape Coral is $88,800. Seller financing is available.

Details

MLS#224056208
Listing TypeFor Sale
Sub-TypeResale
StatusActive
Days On Site125
Listing Provided ByCoast Life Properties LLC | Kyle Doyon

Features

ZoningCP
Acreage0.69
Water FrontYes
Property ViewYes

Market Activity 33914

MLS Internet Data Exchange (IDX) information is provided exclusively for consumers’ personal, non-commercial use and may not be used for any purpose other than to identify prospective properties consumers may be interested in purchasing, and that the data is deemed reliable but is not guaranteed accurate by the Naples Area Board of REALTORS.

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Learn More About This Property

StateFL
CountyLee
CityCAPE CORAL
Zip Code33914
AreaCAPE CORAL
Community NameCAPE CORAL
Listing VS Median (in CAPE CORAL)
Price:
$1,450,000
low | high
Med:
$400,425
100% of Average
On Site:
125
low | high
Med:
147.500000
84.745762711864% of Average
Sourced by Back At You
Listing Updated: October 18, 2024 at 10:15:03 AM PDT