First-Floor Office Condo
For Sale
$310,000
28089 Vanderbilt Dr 102, Bonita Springs, FL 34134
Move-in ready 1,413± SF first-floor office condo with reception, four private offices, kitchenette, conference room, and private restroom.
Property Size1,413 SF
Price / SF$219.39
Days on Market113
Property Features for 28089 Vanderbilt Dr 102
General Information
Standard status
Active
Size
1,413 SF
Property subtype
Commercial
Taxes and HOA fees
Annual Taxes
$3,303
Building Details
Year Built
2007
Year Renovated
2022
Stories
1
Listing Agency:
Premier Commercial Inc
(239) 213-7408
Listed By:
Matthew Stepan PA · License #3082516
Source:
Elliman
Added: May 9
Changed: Aug 8
Last Checked: Aug 29 at 10:08AM
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 Premier Commercial Inc
Investment Insights
Based on property information with market context.
Move-in ready 1,413± SF first-floor office condo updated in 2022. The suite includes a reception area, four private offices, a kitchenette, a conference room, and a private restroom, providing a functional layout for client-facing work and team meetings.
The property is located within a well-maintained professional office building in Bonita Springs, on Vanderbilt Drive, about one block south of Bonita Beach Road. Building signage is available.
Common area costs include POA fees of $11,936.92 per year (2026). Real estate taxes are listed at $3,172.00 for 2025.
The property is located within a well-maintained professional office building in Bonita Springs, on Vanderbilt Drive, about one block south of Bonita Beach Road. Building signage is available.
Common area costs include POA fees of $11,936.92 per year (2026). Real estate taxes are listed at $3,172.00 for 2025.
Key Highlights
- Move‑in ready 1,413± SF first‑floor office condo in a professional office building (Year built: 2007)
- Updated in 2022 and includes a reception area plus four private offices
- Floor plan also features a kitchenette, conference room, and private restroom
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
$24,282
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
7.83%
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%
$485,640
$485.6K
Cap Rate 7%
$346,886
$346.9K
Cap Rate 9%
$269,800
$269.8K
Market Conditions
NOI Build-Up for 1,413 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
$35.3K $24.96/SF
− Vacancy
−$2.9K −$2.05/SF
EGI
$32.4K $22.91/SF
− OpEx
−$8.1K −$5.73/SF
NOI
$24.3K $17.18/SF
Area
Lee County, FL
Vacancy
8.20%
Lease Rate
$24.96 /SF/Yr
Expense Ratio
25.00%
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%
$485,640
Cap Rate 7%
$346,886
Cap Rate 9%
$269,800
Alternative Uses
Best Use
Office B
$346.9K
$303.5K – $404.7K
NOI $24,282 @ 7.0% cap · market cap 7.83%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$444.7K
$389.1K – $518.9K
NOI $31,131 @ 7.0% cap · market cap 10.04%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Location Intelligence
Trade Area within ½ mile
799
Businesses Nearby
Explore this area
Business Placement
Demographics for 34134, FL
15,906
Population
15,051
Households
1.1
Avg Household Size
70
Median Age
55%
College-Educated
98%
High-School Grad
13.4 sq mi
ZIP Area
1,187
Density / Sq Mi
$122,102
Median Household Income
$56,170
Median Earnings
$1,814
Median Rent
$659,600
Median Home Value
Market
Vacancy Rate% for Office in South region
Questions? Ask Rey
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Frequently Asked Questions
What type of property is this?
Office units - Move-in ready 1,413± SF first-floor office condo with reception, four private offices, kitchenette, conference room, and private restroom.
Where is this office units located?
The property is located at 28089 Vanderbilt Dr 102 Bonita Springs, FL.
What is the asking price?
The asking price for this property is $310,000.
What are key features of this property?
This property features: Move‑in ready 1,413± SF first‑floor office condo in a professional office building (Year built: 2007); Updated in 2022 and includes a reception area plus four private offices; Floor plan also features a kitchenette, conference room, and private restroom
