Real estate investors need to explore Cape Coral. That’s the advice of a business website.
Commercial developers looking to get in on the ground floor of emerging developments in Cape Coral or stake a claim in robust commercial areas, need to consider the city.
Population growth expected to reach 200,000 in the coming year, is fueling commercial growth, says businessfacilities.com.
Why real estate investors need to explore Cape Coral
“Cape Coral is only 50 percent built out, so there are plenty of opportunities to take advantage of this growing consumer and workforce base.”
The Pine Island Road corridor will continue to boom in the coming years. It is attracting a wide range of commercial developments and apartment and also housing developments, the website says.
An estimated 400 acres of commercially zoned land worth a combined $100 million are for sale. This is on the north and south sides of the road.
Robust new-home construction in areas surrounding the Pine Island Road corridor is feeding the boom in new businesses.
In the past six years, new-home permits rose 78% in Cape Coral. Also, there was an 85% increase in new commercial building permits during the same period. Thirteen of the 39 commercial permits issued last year—33%—were along Pine Island Road.
Seven Islands development
The much-anticipated Seven Islands mixed-use project proposed for Northwest Cape Coral and is being marketed nationally this year. This follows the recent approval of a partnership between the Cape Coral City Council and CBRE.
Seven rectangular-shaped “islands” will connect to the mainland for a mixed-use project on the 48-acre site along Old Burnt Store Road. The design includes 995 residential units, both multifamily/condo and single-family homes. It also features a 240-room hotel or resort with a 25,000-square-foot meeting space, public amenities and also commercial development.
This mixed-use project seeks to redevelop an area of South Cape with office space, arts, entertainment and dining venues, as well as downtown housing.
The proposed project will be a large-scale development of up to 35 acres on Bimini Basin, a body of water with direct access to the Gulf of Mexico, located south of Cape Coral Parkway in the South Cape entertainment and also the business district. The basin features homes and condos with private docks and offers spectacular sunset vistas.
“If you’re considering a move or expansion to Florida, find out why Cape Coral is a rich, supportive business environment that enables companies to grow—and is a paradise for their workforce,” the website concludes.