Two-Unit Office
For Sale
$1,275,000
1224 & 1228 Lafayette ST, Cape Coral, FL 33904
The suites are occupied by architecture and civil engineering practices.
Property Size3,000 SF
Price / SF$425
Days on Market25
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
Tenant in Place
Yes
Property Use
Office
Taxes and HOA fees
Annual Taxes
$7,617
Building Details
Year Built
1972
Buildings
1
Building Size
3,000 SF
Tenancy
Multi
Listing Agency:
Side
Listed By:
MDM Naples Real Estate
(239) 776-4483
Source:
Mdmnaplesrealestate
Added: Oct 7
Changed: Oct 29
Last Checked: Oct 29 at 2:49PM
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 Side
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Investment Insights
Based on property information with market context.
This office property in southeast Cape Coral includes two suites and an adjoining lot. The 1,550-square-foot suite is occupied by an architect, while a civil engineer occupies the 1,450-square-foot suite. The building was remodeled after Hurricane Ian, and additional wall molding and flooring are planned for the first suite to bring its finish in line with the second.
The civil engineering tenant is on a month-to-month arrangement and is willing to consider a longer lease with a new owner. The architecture suite is expected to begin with a one-year lease before shifting to month-to-month. The property was built in 1972.
The civil engineering tenant is on a month-to-month arrangement and is willing to consider a longer lease with a new owner. The architecture suite is expected to begin with a one-year lease before shifting to month-to-month. The property was built in 1972.
Key Highlights
- Two office suites: 1,550 SF and 1,450 SF
- Adjoining lot included with the office property
- Occupied by an architect and a civil engineer
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
Who owns this building?
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Current Use
Lease Details
2
Office units
100%
Occupancy
Multi-tenant
Tenancy
Location Intelligence
Trade Area within ½ mile
2,363
Businesses Nearby
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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
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Market
Vacancy Rate% for Office in South region
Frequently Asked Questions
What type of property is this?
Office building - The suites are occupied by architecture and civil engineering practices.
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 office suites: 1,550 SF and 1,450 SF; Adjoining lot included with the office property; Occupied by an architect and a civil engineer
