3731 SE 15TH PL

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3731 SE 15TH PL

CAPE CORAL, FL 33904
Asking Price
$1.65M
Asset Type
Commercial Land
Class
Class B

What's Special

Entitled C1 development site | Approved plans for 70 workforce housing units + 8,300 SF commercial <ul><li>​Entitled land with approved building and MEP plans for a six-story mixed-use development</li><li>​Plans include 70 workforce housing apartments plus 8,300 SF of commercial space</li><li>​Zoned C1 in the thriving South Cape Coral area (confirm zoning for your uses)</li><li>​Deed-restricted under the Live Local Bill (40% of units at less than 120% AMI)</li><li>​Strong demand for workforce housing with long-term commercial lease potential</li><li>​Excellent access to public transportation,

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NOI
$80,000
Cap Rate
4.85%
DSCR
0.82
Underwater
Cash-on-Cash
-3.63%
Monthly Payment
$8,163.3
Annual Cash Flow
$-17,959.597

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