Projects
The Caves of Cape Coral - Trafalgar Pkwy.
Project facts
- Status
- Completed
- Address
- 1511 SW 11th Ave
- City
- Cape Coral, Florida
- Region
- Southwest Florida
- Submarket
- Fort Myers; Cape Coral
- Units
- 42
- Amenity tier
- Premium
- Key amenities
- Owners' Clubhouse/Lounge, Private Bathrooms, 18'+ Clear Heights, Climate Control, Mezzanine Capabilities, High-Amp Electrical Service, Gated Access & Security
- Construction
- Tilt Wall
- Finish level
- High-Quality
- Year built
- 2025
- Flood zone
- AE
Market value summary
- # of Sales (T-36)
- 32
- Avg Sale Price (T-36)
- $291 / SF
- Avg Sale Price (T-36)
- $296,000
- Avg Market Value
- $347 / SF
- Avg Market Value
- $341,000
Location Summary
Cape Coral / Fort Myers; Cape Coral Overview
The project sits in the residential heart of central-west Cape Coral, just off Trafalgar Parkway near Skyline Boulevard, in the canal-laced grid that defines the city. The address bridges Cape Coral's established southern neighborhoods and the northwest growth frontier along Pine Island Road, where the city's next wave of town-center, hospital, and waterfront development is concentrating. Within the region, the Fort Myers; Cape Coral corridor is the population core of a metro that grew 15.1 percent from 2020 to 2025 on the strength of no-income-tax in-migration, with Florida gaining about $20.6 billion in net adjusted gross income in the latest IRS filing year.
The immediate trade area is owner-occupied, boat-oriented, and practical in its wealth. Canal and Gulf-access homeowners routinely keep trailered boats and multiple vehicles, while lot-coverage limits and association rules on canal lots cap what can be stored at the residence, a structural shortfall of enclosed space that recent storms have made more acute. Platform data places the corridor at a $263 per square foot trailing-twelve-month median with 5.0 percent annualized five-year appreciation, the value end of the regional spectrum.
Access runs east over Veterans Memorial Parkway and the Midpoint Bridge into Fort Myers, south to Cape Coral Parkway and the Cape Coral Bridge, and north to Pine Island Road toward I-75. The city is now planning turn-lane and intersection capacity improvements on Chiquita Boulevard, about 1.5 miles west, between Cape Coral Parkway and Veterans Parkway, with an open house held in September 2026. Southwest Florida International Airport, where the $1.1 billion Terminal E expansion is under way, is roughly a 35 to 40 minute drive.
Current Events & Infrastructure
- HCA Florida Cape Coral Hospital: HCA Florida Healthcare plans a $300 million, three-story, roughly 200,000 square foot full-service hospital with up to 100 acute-care beds at 322 SW Pine Island Road, about 10 minutes north of the site, replacing its freestanding emergency room; construction is slated to begin in 2027 with opening in 2029. For the project, it adds a major employer and a surgical and cardiac destination on the site's northern commuting corridor.
- Bimini East redevelopment: Crown Development's proposed $500 million redevelopment of 34 acres along Cape Coral Parkway East, about 15 minutes southeast, calls for 700 to 900 residences, a 250-room hotel, 130,000 square feet of retail and entertainment, and a 45-slip marina. It was presented to City Council in July 2026 and its development agreement went to first public hearing in September 2026, with an eight-year build-out.
- Cape Coral Parkway East widening: A $2.37 million project began in May 2026 to expand the parkway to six continuous lanes between SE 15th Avenue and Coronado Boulevard, upgrading signals at eight intersections, with completion targeted for fall 2026. It improves the site's route into downtown.
Key Demand Drivers
Cape Coral is adding residents faster than it is adding enclosed, hurricane-resilient space. New apartment and town-center product typically carries limited per-household parking, and canal-front homeowners already hit lot limits with boats, trailers, and second vehicles. Secure, climate-controlled collector garages close to home are the direct answer to that shortfall.
- Cape Coral Grove: L&L Development's planned town center on 131 acres on Pine Island Road, roughly 10 to 15 minutes northwest, is slated for more than 1,000 apartments and is working through city approvals.
- Seven Islands: A 47-acre waterfront community in northwest Cape Coral, about 15 minutes northwest, is planned for 992 residences, a 240-room hotel, a marina, and retail, supported by $71.5 million in infrastructure financed from 2026 to 2034 through a community development district that went to public hearing in July 2026.
- Cape Coral Yacht Club rebuild: The city's design for a resort-style club, marina, boat ramp, and dredging carries a $225 million estimate, with council weighing a phased build as of March 2026; it sits about 20 minutes southeast and anchors the city's boating identity.
- The Shops at Surfside: A fully occupied 117,556 square foot center anchored by Belk, about 10 minutes southwest, traded for $12.3 million in June 2026.
Location Highlights
- MSA Position: The Cape Coral to Fort Myers metro grew 15.1 percent from 2020 to 2025, among the fastest-growing in the nation.
- Enthusiast / Collector Culture: A boating-first community on one of the largest navigable canal networks in the country, with year-round cruising and driving weather that keeps discretionary vehicles and vessels in constant use.
- Infrastructure & Recreation: Near-term road capacity work on Chiquita Boulevard and Cape Coral Parkway, plus a $225 million yacht club and marina rebuild in design.
- Market-Specific Factor: Owners who weathered recent storms increasingly prioritize hardened, enclosed space for high-value vehicles and boats, a demand pattern that favors gated, climate-controlled suites.
- Tax & Quality of Life: Florida levies no individual income tax, the structural draw behind sustained Midwest and Northeast migration to the Gulf Coast.
- High Net Worth Concentration: Platform data counts 2,733 households earning $200,000 or more within 3 miles, 6,962 within 5 miles, and 10,383 within 7 miles, with nearly one in five households within 5 miles earning $150,000 or more.
Area Demographics (ACS 2024)
5-Mile Profile: Population 144,135 | Median HH Income $77,571 | HH Earning $150K+ 19.6% | Median Age 54.9 | Age 55+ 50.4% | Seasonal Units 20.0% | Households with 3+ Vehicles 13.5% | YoY Population Growth Not reported
Wealth Index: 5.0 / 10 (SCK portfolio-relative)
Unit values
| Unit | Size | Market value | $ / SF |
|---|---|---|---|
| Unit 101 | 1,298 SF | $438,000 | $338 / SF |
| Unit 102 | 1,167 SF | $392,000 | $336 / SF |
| Unit 103 | 1,167 SF | $392,000 | $336 / SF |
| Unit 104 | 680 SF | $246,000 | $362 / SF |
| Unit 105 | 536 SF | $200,000 | $372 / SF |
| Unit 106 | 1,102 SF | $375,000 | $341 / SF |
| Unit 107 | 1,019 SF | $348,000 | $342 / SF |
| Unit 108 | 1,028 SF | $353,000 | $343 / SF |
| Unit 109 | 1,098 SF | $374,000 | $341 / SF |
| Unit 110 | 1,098 SF | $374,000 | $341 / SF |
| Unit 111 | 1,037 SF | $353,000 | $340 / SF |
| Unit 112 | 1,037 SF | $353,000 | $340 / SF |
| Unit 113 | 1,128 SF | $382,000 | $339 / SF |
| Unit 116 | 1,825 SF | $567,000 | $311 / SF |
| Unit 117 | 1,429 SF | $474,000 | $331 / SF |
| Unit 118 | 1,429 SF | $474,000 | $331 / SF |
| Unit 119 | 1,429 SF | $474,000 | $331 / SF |
| Unit 120 | 1,477 SF | $484,000 | $328 / SF |
| Unit 121 | 1,838 SF | $580,000 | $316 / SF |
| Unit 122 | 584 SF | $216,000 | $369 / SF |
| Unit 123 | 579 SF | $214,000 | $369 / SF |
| Unit 124 | 566 SF | $210,000 | $370 / SF |
| Unit 125 | 849 SF | $297,000 | $350 / SF |
| Unit 126 | 849 SF | $301,000 | $355 / SF |
| Unit 127 | 788 SF | $279,000 | $355 / SF |
| Unit 128 | 723 SF | $260,000 | $359 / SF |
| Unit 129 | 706 SF | $254,000 | $360 / SF |
| Unit 130 | 492 SF | $185,000 | $375 / SF |
| Unit 131 | 771 SF | $273,000 | $354 / SF |
| Unit 132 | 1,625 SF | $526,000 | $324 / SF |
| Unit 133 | 1,625 SF | $522,000 | $321 / SF |
| Unit 134 | 880 SF | $307,000 | $349 / SF |
| Unit 135 | 693 SF | $250,000 | $361 / SF |
| Unit 136 | 684 SF | $248,000 | $362 / SF |
| Unit 137 | 684 SF | $248,000 | $362 / SF |
| Unit 138 | 693 SF | $250,000 | $361 / SF |
| Unit 139 | 701 SF | $253,000 | $361 / SF |
| Unit 142 | 684 SF | $248,000 | $362 / SF |
| Unit 143 | 684 SF | $246,000 | $360 / SF |
| Unit 144 | 675 SF | $245,000 | $363 / SF |
| Unit 114/115 | 1,207 SF | $404,000 | $335 / SF |
| Unit 140/141 | 1,403 SF | $467,000 | $333 / SF |