Commercial Real Estate Cape Coral

Cape Coral, the 2nd largest Florida city geographically, has more than 60 square miles of unimproved commercial and residential land within its total 120 square miles. Cape Coral is projected to grow to a population of more than 400,000 by 2080. Investment opportunities are sprouting up all over the area. There are three major investment districts: the Pine Island Road Corridor, the Downtown Community Redevelopment Area (CRA) and City Centrum, plus two established industrial parks and two large areas of designated regional impact (DRI).

 

Pine Island Corridor

Total Acres:  2,400
Zoning:          Commercial, mixed-use, residential, light industrial

The Pine Island Road Corridor is a state highway (S.R. 78), which runs across the city. More than 10 miles in length, the corridor connects to I-75 and U.S. 41. This important corridor is the location for hundreds of thousands of square feet of new commercial development in the past five years alone. Despite this growth, the Pine Island Corridor remains one of the city’s largest sources of open land available for development.

The Pine Island Road master plan creates two zoning districts. The Corridor District provides broad opportunities for large scale, destination commercial and business development. The Village District encourages higher density development in a pedestrian-friendly, mixed-use environment. Much of Pine Island Road is already served by city water and sewer, and with fiber-optic cable.

 

Downtown CRA (Community Redevelopment Agency)

Total Acres:  432
Zoning:          Core, Edge, & Gateway
                      Commercial, residential,
                      mixed-use

Downtown Cape Coral is the original business district of the city. The Community Redevelopment Agency’s (CRA) Master Plan is to create “a vibrant urban village where people of all ages can live, work, shop and be entertained.” Downtown Cape Coral has begun a transformation due to the planning and construction of both large and small private sector developments.

 

The CRA promotes business in the district with an active marketing program that includes advertising and special events. The CRA assists in the development of these projects through improvements to infrastructure, such as storm water, traffic improvements, utility upgrades and public amenities.

 

The Community Redevelopment Agency can provide Tax Increment Financing (TIF) to assist in land assembly, parking and project enhancements that can benefit development projects. Facade grants to help with exterior renovations for existing businesses are also available. Currently there are more than 820 businesses in the area. Now, as older structures are renovated and new ones are created, it is positioned to become a vibrant employment center with entertainment and shopping. View CRA Master Plan.

City Centrum

Total Acres:  278
Zoning:         Commercial, professional, mixed-use, governmental,
                     multi-family, residential 

City Centrum encompasses City Hall, the Lee County Government Center (Cape Coral is co-county seat of Lee County), and the central Post Office. City Centrum is envisioned as the Cape’s primary government office and professional district, attracting real estate, insurance, banking, and other business services, such as accounting, legal and marketing.

 

North Cape Industrial Park

Total Acres:  92.5
Zoning:         Industrial

Located in the northeast quadrant of Cape Coral, this area is home to mostly light-manufacturers, service industries and warehousing. This industrial park is only 22 miles from Southwest Florida International airport, three miles from U.S. Route 41 and 11 miles from I-75. The North Cape Industrial Park is fully served by water, sewer and broadband.

Mid Cape Commerce Park

Total Acres:  143.37
Zoning:          Industrial

One of Cape Coral’s original industrial areas, this area is now populated mostly by service industries and warehousing. It is located directly off Del Prado Boulevard and is only 15 miles from Southwest Florida International airport, five miles from U.S. Route 41 and eight miles from I-75. It is immediately south of Cape Coral Hospital, and as its businesses expand into other areas of the city, this district is attracting laboratories and new medical office development. The Mid Cape Commerce Park is fully served by water, sewer and broadband.

Hancock Creek Commerce Park & Indian Oaks Trade Centre

Total Acres:  472 +/-
Zoning:         Developments of Regional Impact

The U.S. Department of Veterans Affairs broke ground in January 2010 for a state-of-the-art VA Clinic which will provide acute care medical services for the region.  Although some of the reaining property is platted in large parcels for larger projects, there has been some subdivision and re-platting into smaller parcels to facilitate immediate development. This mostly undeveloped land is served by a strong road network. City water and sewer services are in place along a portion of Diplomat Parkway and public utilities have been installed along the entire western border of this DRI, facilitating utilities extensions.