$3,250,000
Waterfront Home for Sale in Cape Coral, FL, $3,250,000
12200/12210 Shoreview Drive, Cape Coral, FL, 33993
About this home
An amazing opportunity to own a unicorn property with SO much potential and so many different options. Take advantage of this opportunity to build and expand upon current owner upgrades - this resort property is located in Matlacha, a renowned old Florida art and fishing village with easy access to Cape Coral, Pine Island and the multiple surrounding islands and also located directly on the Great Calusa Blueway - a 200 mile guided kayaking and paddling water trail. Matlacha is known for its Olde Florida community, tourism and some of the best fishing and boating right in your back yard, with endless views, a nature lover's paradise. Over 275 feet of water frontage, endless views, 5 boat slips (could be 6), magnificent potential and currently used as a short term vacation rental/hotel. Total Units: 13 units plus one office option(convertible to a 3rd bedroom in Unit 2 of the quad)and mirrors the 3-bedroom layout in Unit 3. Two buildings - Two-story building: 9 units (2× 2BR, 6× 1BR, 1 hotel room currently used as laundry), Single-story building: 1× 3BR, 1× 2BR, 2 studios, Square Footage: 7,400 SF (4,650 SF + 2,750 SF), Land: 1 Acre, direct waterfront, Zoning: multi-family / hotel. This was fully renovated in 2025 and is in spectacular condition - attention to detail in all upgrades and this entire property and each unit is spacious, with upscale decor and furnishings. Investment Highlights / Projected NOI (Year 1): $311,500 (Financial Overview and Proformas available upon request / Pro Forma Cap Rate: 6.9% / Revenue Potential: $550,000+ annually at 70% occupancy / ADR Growth: $180 - $210 projected over 5 years / Expansion Potential: Opportunity to add RV spots or tiny homes in the gravel area along the canal / convert laundry/office space to additional guest accommodations or amenities. Potential additional revenue streams include event hosting, day passes, boutique retail store, kayak rentals, bike rentals, jet ski rentals - additional detailed floor plans, unit information and financials available. All the work has been done and ready for a new owner!
Property details
- Type
- HotelMotel
- Year built
- 1999
- Interior
- Not specified
- Lot size
- 43,560 sqft
- Acreage
- 1.00 acres
- Garage
- None
- Days on market
- 0
- Total association fees
- None
- CDD
- None
- Est. taxes (1.4%)
- $45,500/yr
- Flood zone (area est.)
- Yes · High risk (AE)
- Storm protection
- None listed
- Exposure
- Not specified
- Waterfront
- Yes
- Gulf access
- No
- Gulf access type
- N/A
- Pool
- No
- Spa
- No
- Natural gas
- No
- Water
- Not specified
- Sewer
- Not specified
- New construction
- No
- Pets
- Not specified
- County
- Lee
Flood risk shown is an area-level estimate and can differ from a specific unit's actual FEMA designation (which varies by structure and elevation). Look up this address on the FEMA Flood Map and verify with a licensed insurance agent before relying on it.
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Market trends — Cape Coral
Median of closed MLS sales each month over the available window. Months with too few sales are omitted; the range extends automatically as more sales close.
Live area medians from the MLS · see all listings. Indicative, not an appraisal.
The good, the trade-offs & the location
- Waterfront
- Built 1999 — pre-2002 construction may carry older wind codes and higher insurance
- In a higher-risk flood zone (AE) — flood insurance likely required
- No garage listed
Straight-line distances to major SWFL amenities — approximate; actual drive times vary.
Nearby schools
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Listing information is provided in part by the Florida Gulf Coast Multiple Listing Service (MLS) through its Broker Reciprocity / Internet Data Exchange (IDX) program. Properties displayed may be listed by brokerages other than SWFL Relocation Team. Data is deemed reliable but is not guaranteed accurate by the MLS or this brokerage and should be independently verified. Fees, flood zones, taxes, square footage, and school assignments are estimates from the feed and must be confirmed. © 2026 SWFL Relocation Team. All rights reserved.