Remarks

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
Price: $1,450,000

Style: Commercial

County: Lee
Subdivision: Cape Coral
Lot Size: 240 x 125 x 240 x 126
Tax Fee: 64308