Projects
The Caves of Cape Coral - Skyline Blvd.
Project facts
- Status
- Completed
- Address
- 4311 SW 9th Ave
- City
- Cape Coral, Florida
- Region
- Southwest Florida
- Submarket
- Fort Myers; Cape Coral
- Units
- 53
- Amenity tier
- Premium
- Key amenities
- Owners' Clubhouse/Lounge, Private Bathrooms, Smart Access & Wi-Fi, Climate Control, Mezzanine Capabilities, Gated Access & Security, Video Surveillance
- Construction
- Tilt Wall
- Finish level
- High-Quality
- Year built
- 2020
- Flood zone
- AE
Market value summary
- # of Sales (T-36)
- 16
- Avg Sale Price (T-36)
- $339 / SF
- Avg Sale Price (T-36)
- $412,000
- Avg Market Value
- $412 / SF
- Avg Market Value
- $450,000
Location Summary
Southwest Cape Coral / Fort Myers; Cape Coral Overview
The Caves of Cape Coral sits at 4311 SW 9th Avenue, inside the southwest Cape Coral canal grid between Veterans Memorial Parkway and Cape Coral Parkway. This is the highest-value quadrant of the city: the Rubicon and its connecting canals deliver direct, largely bridge-free Gulf access, and the address is roughly two miles north of the Cape Harbour waterfront district and about three and a half miles from the Tarpon Point peninsula. Cape Coral Parkway reaches the Cape Coral Bridge and Veterans Memorial Parkway the Midpoint Memorial Bridge, putting downtown Fort Myers within about 20 minutes and Southwest Florida International Airport within about 35 minutes.
The demographic gradient here runs opposite to the rest of the submarket and is the most important fact about this location. Median home value is $415,803 within three miles, $396,722 within five, and $380,900 within seven, so value concentrates around the site and dilutes outward toward inland non-waterfront Cape Coral. The three-mile ring holds 2,714 households earning $200,000 or more, the deepest such concentration of the pockets SCK tracks in this corridor, supporting premium-tier positioning for this 53 unit project in a way citywide numbers would understate. The five-mile trade area holds 144,784 residents at a median age of 54.8, with 13.6 percent of households keeping three or more vehicles.
Florida added roughly $20.6 billion in net adjusted gross income through domestic migration in the latest IRS filing year, and Lee County absorbed a disproportionate share, growing 15.1 percent from 2020 to 2025 against 3.1 percent nationally. Cape Coral is where that inflow lands when the buyer wants a boat behind the house rather than a Naples address.
Current Events & Infrastructure
- Seven Islands: Cape Coral City Council approved a community development district on July 22, 2026 authorizing $71.5 million of infrastructure investment from 2026 through 2034 for a 47 acre mixed-use waterfront project along the North Spreader off Old Burnt Store Road, developed by Gulf Gateway Resort and Marina LLC and combining housing, a hotel, a marina, and retail with 2,480 projected residents. Roughly nine miles north of this address, it adds a second marina-anchored destination to a city that concentrates that product in the southwest quadrant.
- Star Farms at Cape Coral: The Council approved a companion district the same day backing $221 million of infrastructure investment from 2026 through 2031 across 1,280 acres east of Burnt Store Road, developed by Forestar USA Real Estate Group, a D.R. Horton subsidiary, and projected at 8,750 residents at full build-out. About 10 miles north, it is the largest recent commitment of new municipal infrastructure in Cape Coral.
Key Demand Drivers
Southwest Cape Coral's constraint is physical. Canal-front lots are narrow, seawall setbacks and lot-coverage limits cap what can be built behind a home, and the boating households that define this quadrant own a Gulf-access vessel, a trailer, and multiple vehicles that will not fit under one roof.
- Safe Harbor Cape Harbour: About two miles south at 5828 Cape Harbour Drive, accommodating wet-slip vessels from 35 to 60 feet with 16 foot beam and 5.6 foot draft, plus dry storage for boats from 20 to 34 feet, roughly three miles from open Gulf access with Sanibel 24 miles by water. It anchors the district this project serves and explains the vessel-heavy ownership base around it.
- The Shops at Surfside: A 117,556 square foot neighborhood retail center at 2354 Surfside Boulevard, about two miles northwest, sold for $12.3 million in June 2026 to Pinellas-based Foresight Property Services. The trade prices the immediate southwest Cape retail node at institutional levels and confirms rooftop density around this address.
- Star Farms at Cape Coral: 8,750 projected residents across 1,280 acres about 10 miles north. Households arriving without deep-water frontage are a structural source of demand in the established southwest quadrant.
- Seven Islands: 2,480 projected residents with hotel and marina components on 47 waterfront acres about nine miles north. It extends the city's boating economy and broadens the citywide buyer pool.
Location Highlights
- MSA Position: Cape Coral is the population core of a metro of 875,607 residents that grew 15.1 percent from 2020 to 2025, roughly five times the national rate.
- Enthusiast and Collector Culture: The city's Gulf-access canal network is the largest of its kind in the country, and this address sits inside the bridge-free southwest portion of it, two miles from Safe Harbor Cape Harbour and its 60 foot wet slips.
- Infrastructure and Recreation: Veterans Memorial Parkway and Cape Coral Parkway reach the Midpoint Memorial and Cape Coral bridges within minutes, with downtown Fort Myers about 20 minutes east and Southwest Florida International Airport about 35 minutes southeast.
- Market-Specific Factor: Post-Hurricane Ian rebuilding reset expectations in the canal districts, and owners who lost ground-level enclosed area to elevated reconstruction now prioritize hardened, off-lot space. The insurance market has followed, with an 8.7 percent Citizens rate decrease filed in early 2026.
- Tax and Quality of Life: No state income tax, the structural anchor of Florida's national-leading net income in-migration, on top of year-round boating and driving weather.
- High Net Worth Concentration: 2,714 households earning $200,000 or more within three miles, 6,959 within five miles, and 10,374 within seven miles, with the highest median home value of any ring sitting closest to the site at $415,803.
Area Demographics (ACS 2024)
5-Mile Profile: Population 144,784 | Median HH Income $77,581 | HH Earning $150K+ 19.5% | Median Age 54.8 | Age 55+ 50.3% | Seasonal Units 19.9% | Households with 3+ Vehicles 13.6%
Wealth Index: 4.8 / 10 (SCK portfolio-relative)
Unit values
| Unit | Size | Market value | $ / SF |
|---|---|---|---|
| Unit 1 | 1,375 SF | $538,000 | $391 / SF |
| Unit 1 | 1,113 SF | $462,000 | $415 / SF |
| Unit 2 | 1,126 SF | $462,000 | $410 / SF |
| Unit 2 | 1,375 SF | $538,000 | $391 / SF |
| Unit 3 | 2,357 SF | $816,000 | $346 / SF |
| Unit 3 | 951 SF | $401,000 | $421 / SF |
| Unit 4 | 951 SF | $400,000 | $420 / SF |
| Unit 4 | 843 SF | $361,000 | $428 / SF |
| Unit 5 | 1,330 SF | $528,000 | $397 / SF |
| Unit 5 | 675 SF | $303,000 | $448 / SF |
| Unit 6 | 1,016 SF | $433,000 | $426 / SF |
| Unit 6 | 666 SF | $299,000 | $449 / SF |
| Unit 7 | 655 SF | $295,000 | $450 / SF |
| Unit 7 | 1,285 SF | $515,000 | $401 / SF |
| Unit 8 | 951 SF | $400,000 | $420 / SF |
| Unit 8 | 669 SF | $300,000 | $449 / SF |
| Unit 9 | 1,508 SF | $579,000 | $384 / SF |
| Unit 9 | 490 SF | $222,000 | $453 / SF |
| Unit 10 | 490 SF | $222,000 | $453 / SF |
| Unit 10 | 1,559 SF | $594,000 | $381 / SF |
| Unit 11 | 1,123 SF | $461,000 | $410 / SF |
| Unit 12 | 1,117 SF | $466,000 | $417 / SF |
| Unit 13 | 1,117 SF | $464,000 | $415 / SF |
| Unit 14 | 1,117 SF | $461,000 | $412 / SF |
| Unit 15 | 1,117 SF | $462,000 | $414 / SF |
| Unit 16 | 1,117 SF | $459,000 | $411 / SF |
| Unit 17 | 1,703 SF | $634,000 | $372 / SF |
| Unit 18 | 1,655 SF | $621,000 | $375 / SF |
| Unit 19 | 1,655 SF | $621,000 | $375 / SF |
| Unit 20 | 1,655 SF | $621,000 | $375 / SF |
| Unit 21 | 1,655 SF | $615,000 | $371 / SF |
| Unit 22 | 1,655 SF | $621,000 | $375 / SF |
| Unit 23 | 1,127 SF | $462,000 | $410 / SF |
| Unit 24 | 1,117 SF | $463,000 | $415 / SF |
| Unit 25 | 1,117 SF | $468,000 | $419 / SF |
| Unit 26 | 1,117 SF | $463,000 | $415 / SF |
| Unit 27 | 1,117 SF | $462,000 | $413 / SF |
| Unit 28 | 1,117 SF | $466,000 | $417 / SF |
| Unit 29 | 1,117 SF | $466,000 | $418 / SF |
| Unit 30 | 1,662 SF | $622,000 | $374 / SF |
| Unit 31 | 1,662 SF | $622,000 | $374 / SF |
| Unit 32 | 533 SF | $236,000 | $443 / SF |
| Unit 33 | 533 SF | $240,000 | $450 / SF |
| Unit 34 | 533 SF | $237,000 | $444 / SF |
| Unit 35 | 407 SF | $186,000 | $456 / SF |
| Unit 36 | 407 SF | $186,000 | $456 / SF |
| Unit 37 | 401 SF | $184,000 | $458 / SF |
| Unit 38 | 504 SF | $228,000 | $452 / SF |
| Unit 39 | 497 SF | $225,000 | $452 / SF |
| Unit 40 | 2,662 SF | $891,000 | $335 / SF |
| Unit 41 | 1,257 SF | $507,000 | $403 / SF |
| Unit 42 | 1,312 SF | $523,000 | $399 / SF |
| Unit 43 | 1,312 SF | $523,000 | $399 / SF |