Industrial Building with Fenced
For Sale
$3,000,000
1215 SE 10 ST, Cape Coral, FL 33990
12,023 SF industrial building includes fenced outdoor storage and six overhead doors on 1.05 acres.
Property Size12,023 SF
Lot Size1.05 Acres
Price / SF$249.52
Days on Market75
Property Features for 1215 SE 10 ST
General Information
Standard status
Active
Size
12,023 SF
Lot size
1.05 Acres
Property subtype
Industrial - Manufacturing
Zoning
I
Additional Details
Fenced Yard
Yes
Drive-In Doors
6
Building Details
Building Size
12,023 SF
Year Built
1979
Listing Agency:
NAI Burns Scalo
Listed By:
Gary Tasman · License #BK3002798
(239) 489-3600
Source:
Commercialcafe
Added: Jun 23
Changed: Aug 31
Last Checked: Sep 5 at 4:25AM
Displayed information is deemed reliable but is not guaranteed and should be independently verified. All listing content including descriptions, pricing, images are the copyrighted material of NAI Burns Scalo
Investment Insights
Based on property information with market context.
Located at 1215 SE 10th Street in Cape Coral, this ±12,023 SF industrial building offers fenced outdoor storage, six overhead doors, and demised suite flexibility across ±1.05 acres. A new roof was installed in 2023, helping reduce near-term capital concerns for buyers and owner-users.
The property sits in an infill industrial submarket near Viscaya Parkway and provides access to Del Prado Boulevard South. The site is zoned I – Industrial.
For sale with owner-user appeal, the building also has near-term rental income already in place, with a short-term transition period required.
The property sits in an infill industrial submarket near Viscaya Parkway and provides access to Del Prado Boulevard South. The site is zoned I – Industrial.
For sale with owner-user appeal, the building also has near-term rental income already in place, with a short-term transition period required.
Key Highlights
- 12,023 SF industrial building on 1.05 acres at 1215 SE 10th Street in Cape Coral
- Fenced outdoor storage plus six overhead doors for flexible industrial use
- New roof installed in 2023 to help minimize near‑term capital needs
Financial Insights
Estimated NOI and Cap Rate
NOI = area × lease_rate × (100 − vacancy) / 100 × (1 − expense_ratio). Net Operating Income — what the owner takes home each year before mortgage payments and income tax. Effective rent (asking rent minus vacancy losses) minus operating costs (taxes, insurance, maintenance, management).
NOI / Yr
$131,526
Cap rate = NOI / list price × 100. Capitalization rate — annual return on a fully cash purchase, before financing. NOI divided by price. Higher means more income per dollar invested, but usually also more risk or older condition. 5–8% is typical for stabilized commercial property; double digits often signal distressed deals.
Cap Rate
4.38%
Suggested Prices Based on Cap Rates
Cap rates vary significantly by property type, market, and asset quality.
Typical U.S. stable-market ranges:
Multifamily — 4.5% to 6.5% (Class A in primary markets often sub-5%; Class C in secondary markets 6%+)
Industrial / Logistics — 5.0% to 7.0% (compressed heavily in recent years due to e-commerce demand)
Office — 6.5% to 9%+ (wide spread post-2020; CBD Class A vs. suburban Class B varies dramatically)
Retail — 5.5% to 8.5% (grocery-anchored on the low end, unanchored strip centers higher)
Hospitality / Hotels — 7.5% to 10%+ (higher due to operational risk)
Self-Storage — 5.5% to 7.5%
Medical Office — 6.0% to 7.5%
Net Lease (single tenant, credit) — 5.0% to 7.0% depending on tenant credit and lease term
Rules of thumb:
Primary markets (NYC, SF, LA, Boston, DC) trade at lower cap rates than secondary/tertiary markets, often by 100–200 bps (bps, aka basis points; 1 bp = 0.01%).
Class A assets trade ~50–150 bps tighter than Class B, and Class B tighter than Class C.
Cap rates move inversely with price — a lower cap rate means a higher price for the same NOI.
Spread to the 10-year Treasury is a common benchmark; historically 200–400 bps over the 10-year.
Cap Rate 5%
$2,630,520
$2.6M
Cap Rate 7%
$1,878,943
$1.9M
Cap Rate 9%
$1,461,400
$1.5M
Market Conditions
NOI Build-Up for 12,023 SF
Vacancy — income lost from leasable area expected to sit empty during the year, subtracted from gross rent.
EGI (Effective Gross Income) — gross rent minus vacancy losses, the realistic income before paying operating costs.
OpEx (Operating Expenses) — recurring costs to operate the property (property tax, insurance, utilities, maintenance, management); excludes financing and capital improvements.
NOI (Net Operating Income) — income a property generates after operating costs but before financing and taxes.
Gross rent
$216.4K $18.00/SF
− Vacancy
−$14.1K −$1.17/SF
EGI
$202.3K $16.83/SF
− OpEx
−$70.8K −$5.89/SF
NOI
$131.5K $10.94/SF
Area
Cape Coral, FL
Vacancy
6.50%
Lease Rate
$18.00 /SF/Yr
Expense Ratio
35.00%
Simulate Cap Rate and NOI
Suggested Prices Based on Cap Rates
Cap rates vary significantly by property type, market, and asset quality.
Typical U.S. stable-market ranges:
Multifamily — 4.5% to 6.5% (Class A in primary markets often sub-5%; Class C in secondary markets 6%+)
Industrial / Logistics — 5.0% to 7.0% (compressed heavily in recent years due to e-commerce demand)
Office — 6.5% to 9%+ (wide spread post-2020; CBD Class A vs. suburban Class B varies dramatically)
Retail — 5.5% to 8.5% (grocery-anchored on the low end, unanchored strip centers higher)
Hospitality / Hotels — 7.5% to 10%+ (higher due to operational risk)
Self-Storage — 5.5% to 7.5%
Medical Office — 6.0% to 7.5%
Net Lease (single tenant, credit) — 5.0% to 7.0% depending on tenant credit and lease term
Rules of thumb:
Primary markets (NYC, SF, LA, Boston, DC) trade at lower cap rates than secondary/tertiary markets, often by 100–200 bps (bps, aka basis points; 1 bp = 0.01%).
Class A assets trade ~50–150 bps tighter than Class B, and Class B tighter than Class C.
Cap rates move inversely with price — a lower cap rate means a higher price for the same NOI.
Spread to the 10-year Treasury is a common benchmark; historically 200–400 bps over the 10-year.
Cap Rate 5%
$2,630,520
Cap Rate 7%
$1,878,943
Cap Rate 9%
$1,461,400
Alternative Uses
Best Use
Flex RnD
$1.88M
$1.64M – $2.19M
NOI $131,526 @ 7.0% cap · market cap 4.38%
Second Best
Industrial
$1.57M
$1.37M – $1.83M
NOI $109,754 @ 7.0% cap · market cap 3.66%
Theoretical Best
Office A
$3.12M
$2.73M – $3.64M
NOI $218,376 @ 7.0% cap · market cap 7.28%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
6
Drive-in doors
Yes
Fenced yard
Location Intelligence
Trade Area within ½ mile
1,952
Businesses Nearby
Explore this area
Business Placement
Demographics for 33990, FL
32,717
Population
15,483
Households
2.1
Avg Household Size
47
Median Age
24%
College-Educated
89%
High-School Grad
9.3 sq mi
ZIP Area
3,518
Density / Sq Mi
$70,278
Median Household Income
$38,588
Median Earnings
$1,643
Median Rent
$330,500
Median Home Value
Market
Vacancy Rate% for Industrial in South region
Questions? Ask Rey
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Frequently Asked Questions
What type of property is this?
Manufacturing property - 12,023 SF industrial building includes fenced outdoor storage and six overhead doors on 1.05 acres.
Where is this manufacturing property located?
The property is located at 1215 SE 10 ST Cape Coral, FL.
What is the asking price?
The asking price for this property is $3,000,000.
What are key features of this property?
This property features: 12,023 SF industrial building on 1.05 acres at 1215 SE 10th Street in Cape Coral; Fenced outdoor storage plus six overhead doors for flexible industrial use; New roof installed in 2023 to help minimize near‑term capital needs
