Commercial real estate lending in Fort Myers / Cape Coral (Lee County), FL
Lee County is home to 792,692 residents with a median household income of $73,099 and 10.3% population growth over five years. Commercial deals here are underwritten to Florida's typical standards — around 1.25x DSCR and 75% maximum LTV on stabilized assets — with pricing shaped by the county fundamentals below.
Market character
One of America's fastest-growing metros, still rebuilding its coastal stock after Hurricane Ian — which reset how every lender in the market prices windstorm risk. Growth product is suburban: garden multifamily, grocery-anchored retail, and self-storage following rooftops. Insurance quotes can move 20%+ year over year and belong in every pro forma stress test.
Fort Myers / Cape Coral by the numbers
| Population | 792,692 |
| 5-year population change | +10.3% |
| Median household income | $73,099 |
| Median age | 49.3 |
| Median home value | $326,300 |
| Median gross rent | $1,597/mo |
| Housing units | 430,243 |
| Renter-occupied share | 26% |
Source: U.S. Census Bureau, ACS 5-year estimates (2023).
Underwriting a Fort Myers / Cape Coral deal
A Fort Myers / Cape Coral property clears the same four constraints as any Florida deal — 1.25x minimum DSCR and 75% maximum LTV on stabilized assets, an 8% debt-yield floor, and loan-to-cost caps on construction — with benchmark cap rates for FL spanning roughly 5.5% (multifamily) to 7.5% (hotel). The full state-by-asset-class table lives on the benchmarks page; run Fort Myers / Cape Coral numbers through the loan sizer to see which constraint binds.
Florida closing costs to budget
Financing in Lee County carries Florida's documentary stamp tax and intangible tax — about 0.55% of the loan, due in full on every refinance. Insurance is the other Florida-specific line: wind and flood premiums increasingly decide whether a coastal deal's DSCR clears. Estimate a Fort Myers / Cape Coral deal with the closing cost calculator or read the doc stamps guide.
Financing a property in Fort Myers / Cape Coral?
Relendi analyzes your deal against real underwriting criteria — DSCR, LTV, debt yield, and market benchmarks — in minutes.
Analyze my deal freeFrequently asked questions
What DSCR do lenders require in Lee County?
In Fort Myers / Cape Coral — a market of 792,692 residents where median gross rent runs $1,597 a month — lenders apply Florida's usual floors: typically 1.25x DSCR stabilized, 1.20x on acquisitions, 1.10x on bridge or construction. The county changes which lenders compete for the deal more than it changes the ratio.
What are typical commercial cap rates in Fort Myers / Cape Coral?
Statewide Florida benchmarks run roughly 5.5% for multifamily up to 7.5% for hotels; where Fort Myers / Cape Coral deals price inside those bands depends on submarket, asset quality, and tenancy — in a county whose median home value is $326,300, residential-adjacent product tends to price toward the wider end. Individual comps set real pricing.