$495,000
Waterfront Home for Sale in Cape Coral
503 SW 3rd Court, Cape Coral, FL, 33991
About this home
503 SW 3rd Ct. is a premier 0.57± acre waterfront residential development opportunity located in the heart of Cape Coral. Overlooking scenic Lake Kennedy, the property features approximately 200 feet of water frontage and is one of the largest waterfront multifamily development sites currently available in the area. The site is fully cleared, improved with a new 200-foot seawall, and benefits from water and sewer assessments being paid in full, providing a streamlined path to development. The property’s Residential Multi-Family Low (RML) zoning provides development flexibility, permitting a variety of residential product types including single-family homes, duplexes, and multifamily development with allowable densities of up to 16 units per acre. Whether developed immediately or held as a long-term investment, 503 SW 3rd Ct. offers an exceptional opportunity to capitalize on Cape Coral’s continued residential growth and strong demand for waterfront housing. PROPERTY HIGHLIGHTS: • 0.57± acre waterfront residential development site • RML zoning permits multifamily, duplex, and single-family residential uses • Residential densities of up to 16 units per acre • 200 ft. of frontage along Lake Kennedy with a new 200 ft. seawall installed • Water & sewer assessments paid in full • Ability to permit a dock • Fully cleared and development-ready • Convenient access to shopping, dining, schools, healthcare, and major roadways
Property details
- Type
- Residential
- Year built
- Not specified
- Interior
- Not specified
- Lot size
- 24,829.2 sqft
- Acreage
- 0.57 acres
- Garage
- None
- Days on market
- 0
- Total association fees
- None
- CDD
- None
- Est. taxes (1.4%)
- $6,930/yr
- Flood zone (area est.)
- No · Low risk (X)
- Storm protection
- None listed
- Exposure
- Northeast
- Waterfront
- Yes
- Gulf access
- No
- Gulf access type
- N/A
- Pool
- No
- Spa
- No
- Natural gas
- No
- Water
- Assessment Paid
- Sewer
- Assessment Paid
- 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 Mobile Home Estates
Live community medians from the MLS · see all listings. Indicative, not an appraisal.
The good, the trade-offs & the location
- Lower flood risk (zone X)
- Waterfront
- 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.