430 SW 47th TER Active Save Request In-Person Tour Request Virtual Tour
Cape Coral,FL 33914
Key Details
Property Type Vacant Land
Sub Type Commercial
Listing Status Active
Purchase Type For Sale
Subdivision Cape Coral
MLS Listing ID 224056208
Annual Tax Amount $64,308
Tax Year 2023
Lot Size 0.688 Acres
Property Sub-Type Commercial
Property Description
Prime development opportunity in South Cape Coral! This entitled land parcel is offered with approved building and MEP plans for a mixed-use project. The site is zoned CP (confirm with zoning for intended use) and is designed for 39 workforce housing apartments and 8,300 square feet of commercial space, offering an ideal live-work scenario. The residential units feature modern, efficient layouts tailored to the local workforce, while the commercial space offers flexibility for a wide range of business uses. Situated in a rapidly growing area, the property provides excellent access to public transportation, major roadways, schools, parks, dining options, and healthcare facilities. This strategic location supports a high quality of life for residents and strong visibility for businesses. High rental demand and flexible use make this a standout investment opportunity, offering stable income potential through long-term residential and commercial leases. The property is deed-restricted under Florida's Live Local Bill, requiring 40% of units to be leased to individuals earning no more than 120% of the Area Median Income (AMI), which is $88,800 as of April 2024.
Seller financing is available.
Whether you're a developer or investor seeking to contribute to Cape Coral's workforce housing solutions while capturing long-term value, this property is ready for action.
Location
State FL
County Lee
Community Cape Coral
Area Cc21 - Cape Coral Unit 3,30,44,6
Exterior
Community Features Non- Gated
Utilities Available Electricity Available, Sewer Available, Trash Collection, Water Available
Amenities Available None
Waterfront Description None
View Y/N Yes
View City
Building
Lot Description Multiple lots, Oversized Lot, See Remarks
Sewer Assessment Paid
Water Assessment Paid
Others
Acceptable Financing All Financing Considered,Cash,1031 Exchange,Owner May Carry
Listing Terms All Financing Considered,Cash,1031 Exchange,Owner May Carry