Local real estate expert Veldin “Dean” Miskic, co-founder of Pelican Vista Realty, recently shared insights comparing waterfront and dry lot properties in Cape Coral, highlighting significant value differences that many buyers may overlook. In an exclusive interview, Miskic explained how water access leads to pricing disparities that can reach hundreds of thousands of dollars between otherwise similar homes.

“Cape Coral took me a long time to really understand, because you could have a house in southwest Cape on a dry lot that’s worth, let’s say the house is 15 years old, 2,400 square feet, might be worth $600,000. The house across the street has direct boat access to the open water to the Gulf, and that house will have the same exact features as the one across the street, but will be priced about $400,000 more,” said Miskic, who has over 10 years of experience specializing in waterfront properties and luxury homes.

The Cape Coral market is complex due to its extensive canal system and varying degrees of water access, with property values shifting considerably based on proximity and type of water access.

Key Differences Between Property Types

Miskic outlined several key distinctions between property types shaping Cape Coral’s housing market. Waterfront properties, she explained, command premium values due to their lifestyle advantages — particularly the convenience of docking a boat directly behind one’s home and accessing the open ocean at any time. This combination of recreation and accessibility has made waterfront living one of the city’s most sought-after features.

By contrast, dry lot properties provide more affordable opportunities for buyers seeking entry into the Cape Coral market without the added cost of water access. These homes still offer proximity to the city’s coastal lifestyle and amenities. Additionally, Miskic noted that land development remains an attractive option, with quarter-acre lots starting around $30,000, allowing investors and homeowners to pursue custom builds on either waterfront or interior parcels.

Location Analysis

Miskic noted how location impacts value and potential: “Property values really greatly fluctuate depending on the distance to the water, how big the water, what type of water, if there’s bridges, if there’s no bridges. There’s so many different factors that affect the price point that it’s very hard to pinpoint.”

The intricacies of Cape Coral’s waterway system mean that understanding zoning, water access rights, and navigational factors requires specialized local expertise.

Investment Considerations

For those considering investment options between these property types, Miskic offered this perspective: “We help people buying land. We guide them through the process of making sure they buy the right type of land.”

He recounted an example of a client who bought a parcel he believed was residential, only to learn it was zoned commercial and could not be used for a home. This underscores the importance of understanding zoning regulations and working with knowledgeable professionals.

Price Point Comparison

“You can get yourself a beautiful home on the water, new construction, four bedrooms, two bathrooms, three-car garage, roughly between $600,000 and $700,000,” explained Miskic.

Current price ranges show Cape Coral’s relative affordability compared to other Southwest Florida markets, with strong opportunities for both waterfront and dry lot properties depending on buyer priorities and budgets.

Future Trends

Looking ahead, Miskic anticipates ongoing interest in Cape Coral’s combination of water access and affordability. “The crazy thing is, the homes that were torn down [after Hurricane Ian], the land was being sold pretty much with the same value as the house, and now people are building million-dollar homes on those lots.”

This trend suggests strong, ongoing demand for waterfront properties and indicates that investors continue to see long-term value in Cape Coral despite short-term market changes.