Two-Unit Office
For Sale
$1,200,000
1312 N 15th St., Immokalee, FL 34142
Distinctive two-unit concrete block office building with paved parking, impact windows, and handicap-accessible restrooms.
Property Size3,000 SF
Price / SF$400
Days on Market30
Property Features for 1312 N 15th St.
General Information
Standard status
Active
Size
3,000 SF
Listing Agency:
Southern Heritage Real Estate
(863) 673-0829
Listed By:
Sherri Denning · License #258000253
Source:
Mymiahomes
Added: Jul 21
Changed: Jul 22
Last Checked: Aug 19 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 Southern Heritage Real Estate
Investment Insights
Based on property information with market context.
This distinctive two-unit commercial building features over 3,000 square feet of concrete block construction with an Old Florida facade, shingle roof, and impact windows. The property includes large Southern-style front porches and ample paved parking for visitors and employees.
Each unit is set up with handicap-accessible restrooms, kitchenettes, and storage. The building is equipped with two central A/C units plus a mini-split serving the south addition.
The space is currently used as an insurance office and a photography studio, and offers a flexible layout for an owner-user or an investor seeking a property with two independent units.
Each unit is set up with handicap-accessible restrooms, kitchenettes, and storage. The building is equipped with two central A/C units plus a mini-split serving the south addition.
The space is currently used as an insurance office and a photography studio, and offers a flexible layout for an owner-user or an investor seeking a property with two independent units.
Key Highlights
- Over 3,000 sq. ft. concrete block commercial building with Old Florida facade and shingle roof
- Distinctive two‑unit layout with handicap‑accessible restrooms, kitchenettes, and storage in each unit
- Impact windows plus large Southern‑style front porches
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
$61,763
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
5.15%
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%
$1,235,260
$1.2M
Cap Rate 7%
$882,329
$882.3K
Cap Rate 9%
$686,256
$686.3K
Market Conditions
NOI Build-Up for 3,000 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
$90.0K $30.00/SF
− Vacancy
−$7.7K −$2.55/SF
EGI
$82.4K $27.45/SF
− OpEx
−$20.6K −$6.86/SF
NOI
$61.8K $20.59/SF
Area
Collier County, FL
Vacancy
8.50%
Lease Rate
$30.00 /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%
$1,235,260
Cap Rate 7%
$882,329
Cap Rate 9%
$686,256
Alternative Uses
Best Use
Office B
$882.3K
$772.0K – $1.03M
NOI $61,763 @ 7.0% cap · market cap 5.15%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$1.20M
$1.05M – $1.40M
NOI $84,283 @ 7.0% cap · market cap 7.02%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Location Intelligence
Trade Area within ½ mile
325
Businesses Nearby
Explore this area
Business Placement
Demographics for 34142, FL
31,327
Population
10,002
Households
3.1
Avg Household Size
30
Median Age
15%
College-Educated
63%
High-School Grad
625.9 sq mi
ZIP Area
50
Density / Sq Mi
$57,656
Median Household Income
$27,809
Median Earnings
$989
Median Rent
$296,400
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 - Distinctive two-unit concrete block office building with paved parking, impact windows, and handicap-accessible restrooms.
Where is this office units located?
The property is located at 1312 N 15th St. Immokalee, FL.
What is the asking price?
The asking price for this property is $1,200,000.
What are key features of this property?
This property features: Over 3,000 sq. ft. concrete block commercial building with Old Florida facade and shingle roof; Distinctive two‑unit layout with handicap‑accessible restrooms, kitchenettes, and storage in each unit; Impact windows plus large Southern‑style front porches
