Remodeled Multi-Tenant Medical
For Sale
$2,699,000
525 E Olympia Avenue Punta Gorda, Punta Gorda, FL 33950
Concrete block building with ten units and recent roofing, HVAC, and interior remodels.
Property Size10,000 SF
Price / SF$269.90
Days on Market43
Property Features for 525 E Olympia Avenue Punta Gorda
General Information
Standard status
Active
Size
10,000 SF
Occupancy
80%
Taxes and HOA fees
Annual Taxes
$21,641
Amenities
1
0.75
false
Appraiser
10000
Building Details
Building Size
10,000 SF
Year Built
1975
Year Renovated
2024
Stories
1
Tenancy
Multi
Listing Agency:
(904) 569-5862
Listed By:
Katherine Nilsen
(904) 569-5862
Source:
Movetojacksonville
Added: Jul 6
Changed: Aug 15
Last Checked: Aug 15 at 10:21AM
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 Katherine Nilsen
Investment Insights
Based on property information with market context.
This remodeled multi-tenant medical office property features a concrete block building divided into ten separate units. The building is approximately 10,000 square feet total, with each unit approximately 1,000 square feet.
The roof was replaced in 2023 with a 20-year transferable warranty, and all HVAC units were replaced in 2022 with a 5-year warranty. The property was completely remodeled in 2024 with new flooring, new doors, new bathrooms, and additional interior improvements.
The space also presents a buyer user opportunity described by the seller, with the building currently noted as 80% occupied and positioned near the hospital area of Punta Gorda for medical use.
The roof was replaced in 2023 with a 20-year transferable warranty, and all HVAC units were replaced in 2022 with a 5-year warranty. The property was completely remodeled in 2024 with new flooring, new doors, new bathrooms, and additional interior improvements.
The space also presents a buyer user opportunity described by the seller, with the building currently noted as 80% occupied and positioned near the hospital area of Punta Gorda for medical use.
Key Highlights
- 10,000 SF concrete block building on a 0.75‑acre lot, divided into ten 1,000 SF units
- New roof installed in 2023 with a 20‑year transferable warranty
- All‑new HVAC units installed in 2022 with a 5‑year warranty
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
$139,835
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
5.18%
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%
$2,796,700
$2.8M
Cap Rate 7%
$1,997,643
$2.0M
Cap Rate 9%
$1,553,722
$1.6M
Market Conditions
NOI Build-Up for 10,000 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
$260.4K $26.04/SF
− Vacancy
−$27.3K −$2.73/SF
EGI
$233.1K $23.31/SF
− OpEx
−$93.2K −$9.32/SF
NOI
$139.8K $13.98/SF
Area
Charlotte County, FL
Vacancy
10.50%
Lease Rate
$26.04 /SF/Yr
Expense Ratio
40.00%
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%
$2,796,700
Cap Rate 7%
$1,997,643
Cap Rate 9%
$1,553,722
Alternative Uses
Best Use
Healthcare Medical
$2.00M
$1.75M – $2.33M
NOI $139,835 @ 7.0% cap · market cap 5.18%
Second Best
Office B
$1.77M
$1.55M – $2.06M
NOI $123,768 @ 7.0% cap · market cap 4.59%
Theoretical Best
Office A
$3.27M
$2.87M – $3.82M
NOI $229,200 @ 7.0% cap · market cap 8.49%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Current Use
Lease Details
80%
Occupancy
Multi-tenant
Tenancy
Location Intelligence
Trade Area within ½ mile
1,330
Businesses Nearby
Well-served
Demand for This Use
Explore this area
Business Placement
Demographics for 33950, FL
24,984
Population
16,748
Households
1.5
Avg Household Size
66
Median Age
36%
College-Educated
95%
High-School Grad
17.8 sq mi
ZIP Area
1,404
Density / Sq Mi
$74,484
Median Household Income
$46,032
Median Earnings
$1,192
Median Rent
$393,500
Median Home Value
Market
Vacancy Rate% for Office in South region
Questions? Ask Rey
Realmo’s AI knows this listing — price, zoning, demand, history. Ask anything.
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Frequently Asked Questions
What type of property is this?
Medical Office Space - Concrete block building with ten units and recent roofing, HVAC, and interior remodels.
Where is this medical office space located?
The property is located at 525 E Olympia Avenue Punta Gorda Punta Gorda, FL.
What is the asking price?
The asking price for this property is $2,699,000.
What are key features of this property?
This property features: 10,000 SF concrete block building on a 0.75‑acre lot, divided into ten 1,000 SF units; New roof installed in 2023 with a 20‑year transferable warranty; All‑new HVAC units installed in 2022 with a 5‑year warranty
