Cape Coral is famous for its integrated canal systems of both freshwater and saltwater. Can you believe that there are over 400 miles of waterfront property in Cape Coral? Cape Coral has more canals than Venice Italy! Take a look at how location and seawalls for waterfront property in Cape Coral has a big impact on the decision-making process.
If you are looking to purchase, invest, or sell waterfront lots in Cape Coral there are several factors to consider.
Gulf Access Canals
Depending on the location to reach the Gulf, properties can come with a hefty price tag for buyers. Saltwater canal lots are considered as direct or indirect access to the Gulf of Mexico. Indirect Gulf Access lots mean there is a bridge or lock to access the Gulf of Mexico. This limits the size and type of boat for property owners and is taken into consideration for the value of the property. If you are an avid boater or own a big boat, a direct Gulf access lot will be more desirable. Direct Gulf access lots have no bridges or locks making the trip to reach the Gulf of Mexico a lot shorter. Of course, these types of lots come with a greater price tag.
Below is a graph showing the average sold price of Gulf Access lots in Cape Coral from January 2022 through January 2023.
If you enjoy freshwater activities like fishing, kayaking, jet skiing, or own a smaller boat, a freshwater canal could be ideal for you. Freshwater canals do not lead out to the Gulf, however, some of the freshwater canals do feed into lakes. This would be a great option for people who want to enjoy some time out on the water with a lower price tag.
The graph below shows the average sold price of freshwater lots in Cape Coral between January 2022 and January 2023.
Waterfront Property in Cape Coral
If you are interested in waterfront property in Cape Coral it is always very important to consider the seawall on the property. The City of Cape Coral requires canal properties to have a seawall in place before construction can begin. The cost of a seawall is based on linear feet. Other costs that may be associated with building a seawall are the required surveys, engineering plans, amount of tree clearing needed, and mitigation fees for mangroves.
In March of 2022, new regulations were passed by The City of Cape Coral that greatly affected the costs of seawalls. The average cost of a freshwater seawall on a standard-size lot (80-85 of water frontage) will cost on average between $22,000-$26,000. The costs are even greater for saltwater canals and canals with more water frontage. In late 2022, a direct Gulf access lot that has 136 linear feet of water frontage was quoted $59,525 for installation.
In addition to the hefty price tag that can come with the installation of a seawall, there is also a long wait time before it is ready to be installed. Typically in Cape Coral, it takes about 12 months and sometimes longer to install a new seawall on a property. As mentioned earlier, this is important because construction cannot begin on a property until the seawall is in place. If you are looking to buy a waterfront lot and would like to start building right away, you may want to think about buying a property with a seawall already installed.
And if you are looking to sell your waterfront property, investing in a seawall before selling your property may be a good idea. If your waterfront lot already has a seawall in place, this adds a ton of value and marketability.
Furthermore, if you are looking to sell your waterfront property, investing in a seawall before selling your property may be a good idea. If your waterfront lot already has a seawall in place, this adds a ton of value and marketability.
We are here to help you through the obstacles with your waterfront property in Cape Coral, contact us anytime!