Entitled land with approved building and MEP plans for a mixed-use development featuring workforce housing and commercial space. This property is zoned C1 (confirm zoning for uses) and presents a prime opportunity for developers and investors. The project includes 70 workforce housing units designed to meet the increasing demand for… Read More affordable housing, offering well-planned and comfortable living spaces. In addition, 8,300 square feet of versatile commercial space is available for retail, office, or mixed-use purposes, providing ample flexibility for various businesses. Located in the thriving South Cape Coral area, this property offers excellent access to public transportation, major highways, and local amenities, making it an attractive location for residents and commercial tenants. The nearby schools, parks, restaurants, and healthcare facilities further enhance the appeal, ensuring a high quality of life for future residents. With strong demand for workforce housing, this development offers a stable rental market, complemented by the potential for long-term commercial leases. The property’s design supports community impact, fostering a vibrant and integrated environment. As the area grows and develops, there is significant appreciation potential, making this a compelling investment opportunity. The property is deed-restricted under the Live Local Bill, requiring 40% of units to be rented to tenants earning less than 120% of the area median income (AMI). As of April 2024, Cape Coral's AMI is $88,800. Seller financing is available. Buyers may select either of two paths: Acquire the lot an build under their own contractor and financing or partner with Coast Life Developers through a build-for-buyer agreement, with the option for long-term property management. Long-term property management is available upon delivery. Read Less
Listing courtesy of Coast Life Properties LLC.
Listing Snapshot
Days Online
503
Last Updated
Property Type
Other
Lot Size
1.03 Acres
MLS Number
224056206
30 Days Snapshot Of 33990
$410k
+1%
(avg) sold price
38
-17%
homes sold
119
+14%
(avg) days on market
Snapshot
Area Map
Additional Details
Property Access
Road surface type: "Paved"
Building
Building area units: Square Feet, "DSL/Cable Available"
The data relating to real estate for sale displayed on this Website comes in part from the Broker Reciprocity Program (BR Program) of M.L.S. of Naples, Inc., under License No. ONRI/600106. Properties listed with brokerage firms other than the office represented by this website are marked with the “BR House” logo. Detailed information about such properties includes the name of the brokerage firm with which the seller has listed the property. The properties displayed may not be all the properties listed with brokerage firms participating in the M.L.S. of Naples, Inc. BR Program, or contained in the database compilation of the M.L.S. of Naples, Inc.
The accuracy of this information is not warranted or guaranteed. This information should be independently verified if any person intends to engage in a transaction in reliance upon it.
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