Two-Suite Office
For Sale
$1,275,000
1224 & 1228 Lafayette St, Cape Coral, FL 33904
Two occupied office suites offer distinct footprints for professional operations.
Property Size3,000 SF
Price / SF$425
Days on Market10
Property Features for 1224 & 1228 Lafayette St
General Information
Standard status
Active
Size
3,000 SF
Property subtype
Commercial
Occupancy
100%
Additional Details
Office Units
2
Building Details
Year Built
1972
Buildings
1
Building Size
3,000 SF
Tenancy
Multi
Owner Occupied
No
Listing Agency:
Coldwell Banker Realty
Listed By:
Joe Bartlett · License #641586074
(239) 322-8595
Source:
Napleshomesearches
Added: Oct 4
Changed: Oct 11
Last Checked: Oct 12 at 8:06PM
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 Coldwell Banker Realty
Investment Insights
Based on property information with market context.
Built in 1972, this office property at 1224 and 1228 Lafayette St. in Cape Coral contains two occupied units: one measuring 1,550 square feet and the other 1,450 square feet. The building has undergone remodeling since Ian, with additional wall molding and flooring planned for the first unit to bring its finish closer to that of the second.
The first unit is expected to move to a one-year lease followed by a month-to-month arrangement. The tenant in the second unit currently occupies under a month-to-month lease and is willing to consider a longer term with a new owner. The property also includes an adjoining lot.
The first unit is expected to move to a one-year lease followed by a month-to-month arrangement. The tenant in the second unit currently occupies under a month-to-month lease and is willing to consider a longer term with a new owner. The property also includes an adjoining lot.
Key Highlights
- Two occupied office units: 1,550 SF and 1,450 SF
- Building constructed in 1972
- Remodeled since Ian; wall molding and flooring are planned for the first unit
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$42,458
Cap Rate
3.33%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$849,160
$849.2K
Cap Rate 7%
$606,543
$606.5K
Cap Rate 9%
$471,756
$471.8K
Market Conditions
NOI Build-Up for 3,000 SF
Gross rent
$66.6K $22.20/SF
− Vacancy
−$10.0K −$3.33/SF
EGI
$56.6K $18.87/SF
− OpEx
−$14.2K −$4.72/SF
NOI
$42.5K $14.15/SF
Area
Cape Coral, FL
Vacancy
15.00%
Lease Rate
$22.20 /SF/Yr
Expense Ratio
25.00%
Simulate Cap Rate and NOI
Suggested Prices Based on Cap Rates
Cap Rate 5%
$849,160
Cap Rate 7%
$606,543
Cap Rate 9%
$471,756
Alternative Uses
Best Use
Office B
$606.5K
$530.7K – $707.6K
NOI $42,458 @ 7.0% cap · market cap 3.33%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$778.4K
$681.1K – $908.2K
NOI $54,490 @ 7.0% cap · market cap 4.27%
Zoning and permitted uses should be independently verified with authorities.
How Realmo checks its estimates
Property Analytics
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Open Analytics
Current Use
Lease Details
2
Office units
100%
Occupancy
Multi-tenant
Tenancy
Location Intelligence
Trade Area within ½ mile
2,363
Businesses Nearby
Explore this area
Business Placement
Demographics for 33904, FL
32,029
Population
20,401
Households
1.6
Avg Household Size
56
Median Age
29%
College-Educated
95%
High-School Grad
9.7 sq mi
ZIP Area
3,302
Density / Sq Mi
$66,933
Median Household Income
$43,829
Median Earnings
$1,665
Median Rent
$347,100
Median Home Value
Check the figures for this property
Cap Rate, Value Estimation, Potential NOI and more
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Market
Vacancy Rate% for Office in South region
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Frequently Asked Questions
What type of property is this?
Office building - Two occupied office suites offer distinct footprints for professional operations.
Where is this office building located?
The property is located at 1224 & 1228 Lafayette St Cape Coral, FL.
What is the asking price?
The asking price for this property is $1,275,000.
What are key features of this property?
This property features: Two occupied office units: 1,550 SF and 1,450 SF; Building constructed in 1972; Remodeled since Ian; wall molding and flooring are planned for the first unit
