430 SW 47th Terrace

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. Buyers may select either of two paths: acquire the lot and 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 upon delivery. 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.