Lots for sale in Cape Coral - Locations and Values
Cape Coral, with a total area of approx. 115 square miles, is the second largest city in Florida. Only about 51% of this area is covered by buildings as of 2018. The total capacity is roughly 400,000 inhabitants. Cape Coral consists of approx. 130,000 lots with about 40,000 at a canal or the river.
Types of Lots for Sale - Locations
A standard Cape Coral building site consists of 2 parcels each measuring 40' x 125'. This makes it a total of 80' x 125'. A triple lot site would be 120' x 125'. Of course there are also other shapes than the standard rectangular one, e.g. pie shaped.
The City of Cape Coral has over 400 miles of Saltwater and Freshwater Canals, more than any other city on earth. The width of the canals range from 50' to 250'.
Off-water (Dry) Lots
These are the lots that you will find in excess in Cape Coral. The values of these lots vary depending on the availability of services like city water and sewer and also how close they are to amenities like shopping, dining, schools etc. Usually these are the most inexpensive ones. Dry Lots are available starting at $5,000 in the outer city areas.
These lots are located on restricted canals systems that sometimes have miles of waterways connected. They do not have access to the Gulf of Mexico. They are usually more expensive than the dry lots. Freshwater Lots are available starting at $20,000.
Gulf Access Lots
These lots have access to open water. Depending on their location you have to pass under bridges or through a lock. These properties are higher in price than the freshwater lots and are available starting at $50,000
Direct Access Lots
These lots are also known as "Sailboat Access". The access from this type of lot is not restricted by any bridge or lock. These lots are usually a little more expensive than the gulf access ones. They start at about $125,000.
This type of lot is located right at a lake and may be either saltwater (like Finisterre Lake or the Eight Lakes in the south) or freshwater (like Lake Kennedy or Lake Saratoga). Lakefront saltwater lots start at around $200,000, lakefront freshwater lots can be as low as $50,000
Riverfront or Gulffront Lots
This type of lot is on or overlooks the Caloosahatchee River or Gulf of Mexico and is obviously the most expensive one. These start at around $400,000.
The value of waterfront property is based on a number of features
Boating travel time
from your property to the closest exit into the river
Restrictions by bridges, locks or lifts
Bridges: can be located on the Cape Coral map
Boat lock: Located in the SW section and operated by the City. The lock accommodates both large vessels and small boats.
Width of the canal
The width can reach from 80' all the way up to 300'
Intersecting canals or basins
Views can greatly differ between a standard canal and intersecting canals. An expansive view over a basin creates more value
Rear exposure (sunlight on your pool deck)
Southern: This exposure offers the most sunlight on your pool.
Northern: Rear exposure is cooler for your home and offers less direct sunlight.
Western: Offers sunlight in the later afternoon into the evening and wonderful sunsets.
Eastern: Offers direct sunlight in the morning and will mostly have shade in the afternoon hours
(Riverfront vs. off water etc.)
City Utility Assessments / Betterment Fees
Are there any assessments left and if yes how much in total and what is the yearly payoff throught the property taxes?
All Gulf access lots require a seawall to be built before a home is constructed. Average cost for a seawall is approx. $120 per linear foot of seawall totalling about $10,000-$12,000 for a standard lot. Depending on the vegetation that has to be removed, this amount can be higher in case bushes or even huge trees have to go. We can request a free of charge estimate for you.
Installed boat docks
Sometimes lots have boat docks installed already which make them more valuable. A standard wraparound composite boat dock with a 10,000 lbs boat lift runs around $25,000. We can request a free of charge estimate for you.