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$ 3,550,000
Est. payment /mo
New
885 SE 47th TER Cape Coral, FL 33904
0.75 Acres Lot
UPDATED:
Key Details
Property Type Commercial
Listing Status Active
Purchase Type For Sale
MLS Listing ID 226038000
Year Built 1981
Annual Tax Amount $21,707
Tax Year 2025
Lot Size 0.750 Acres
Acres 0.75
Source Bonita Springs
Property Description
One or more photo(s) has been virtually staged, AI generated or rendered. Exceptional opportunity to acquire a strategically located three-parcel commercial assemblage in the heart of Downtown Cape Coral, consisting of 885 SE 47th Terrace, 4706 SE 9th Place and 4710 SE 9th Place. Positioned in the rapidly transforming South Cape district and directly across from major new mixed-use development, the property offers investors and developers a rare combination of immediate cash flow, contractual income growth, valuable vacant land and significant long-term redevelopment potential. The two existing commercial buildings are occupied under NNN lease structures and currently generate approximately $154,975 in annual Net Operating Income. Contractual rental increases provide additional upside, with projected NOI from the existing buildings increasing to approximately $160,484 in 2027, $170,164 in 2028 and $178,678 in 2029, before considering any additional income from development of the vacant parcel. Situated between the two income-producing properties, 4710 SE 9th Place offers an immediate value-add opportunity. An investor may have the ability to develop additional retail, restaurant, medical, professional office or other compatible commercial space while allowing the existing buildings to continue producing revenue. This strategy creates the potential to significantly increase total NOI without initially disturbing the established tenant base. For a developer seeking a larger vision, the combination of all three parcels creates an opportunity to assemble the site into a unified three- or four-story mixed-use redevelopment. A future concept could potentially incorporate ground-floor retail, restaurants, medical or professional space with residential apartments, condominiums or additional office space above, subject to zoning, density, parking and governmental approvals. Outdoor dining, pedestrian-oriented streetscapes, balconies, rooftop amenities and contemporary architecture could further capitalize on the evolving character of Downtown Cape Coral. The surrounding area is undergoing a significant transformation. Nearby developments such as The Cove are introducing additional residential density, restaurants, retail, entertainment and pedestrian activity, creating strong synergy for surrounding commercial properties. This continued investment is helping establish South Cape as one of the city's primary lifestyle, dining and entertainment destinations. What makes this offering particularly compelling is the flexibility it provides. A buyer can hold the existing NNN investment and benefit from growing NOI, develop the vacant middle parcel to create additional income, or ultimately redevelop the entire assemblage into a higher-density mixed-use project. This assemblage provides investors and developers with the ability to generate revenue today while maintaining control of a strategically positioned site with substantial potential for tomorrow.
Location
State FL
County Lee
Interior
Inclusions Building And Land
Fireplace No
Exterior
Waterfront Description None
Garage No
Building
Story 1
Level or Stories 1
New Construction No
Others
Senior Community No
Listed by Royal Shell Real Estate, Inc. • Ronald A Delfino