Two-Story Professional Office
For Sale
Contact for pricing
1323 Viscaya Pkwy, Cape Coral, FL 33990
Commercially zoned office property with medical use potential, on-site parking, and an existing tax and accounting service occupant.
Property Size4,865 SF
Lot Size0.34 Acres
Price / SF$256.94
Days on Market8
Property Features for 1323 Viscaya Pkwy
General Information
Standard status
Active
Size
4,865 SF
Total Parking Spaces
21
Lot size
0.34 Acres
Property subtype
OFFICE
Zoning
C
Net Operating Income
$74,865
Additional Details
Cap Rate
6%
Building Details
Year Built
1991
Buildings
1
Stories
2
Building Size
4,865 SF
Tenancy
Single
Listing Agency:
Boback Commercial Group
(239) 565-2616
Listed By:
James Boback
(239) 565-2616
Source:
Moodyscre
Added: Aug 4
Changed: Aug 9
Last Checked: Aug 10 at 11:32AM
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 Boback Commercial Group
Investment Insights
Based on property information with market context.
This two-story office property contains 4,865 SF, with approximately 2,240 square feet on each floor and a 385-square-foot lobby. Constructed in 1991, the building is configured for professional office and medical use and is currently occupied by a multistate tax and accounting service. The property sits on an approximately 0.34-acre parcel measuring 15,000 square feet.
Zoned C – Commercial by the City of Cape Coral, the site includes 21 parking spaces. The property’s reported cap rate is 6%. Its existing office configuration, medical-use designation, and current occupancy provide a defined commercial framework for evaluation.
Zoned C – Commercial by the City of Cape Coral, the site includes 21 parking spaces. The property’s reported cap rate is 6%. Its existing office configuration, medical-use designation, and current occupancy provide a defined commercial framework for evaluation.
Key Highlights
- 4,865 SF two‑story office building with 2,240 square feet per floor and a 385‑square‑foot lobby
- Approximately 0.34± acres, or 15,000 square feet of land
- Built in 1991 and currently occupied by a multistate tax and accounting service
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
$68,852
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
5.51%
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%
$1,377,040
$1.4M
Cap Rate 7%
$983,600
$983.6K
Cap Rate 9%
$765,022
$765.0K
Market Conditions
NOI Build-Up for 4,865 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
$108.0K $22.20/SF
− Vacancy
−$16.2K −$3.33/SF
EGI
$91.8K $18.87/SF
− OpEx
−$23.0K −$4.72/SF
NOI
$68.9K $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 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%
$1,377,040
Cap Rate 7%
$983,600
Cap Rate 9%
$765,022
Alternative Uses
Best Use
Office B
$983.6K
$860.7K – $1.15M
NOI $68,852 @ 7.0% cap · market cap 5.51%
Second Best
Healthcare Medical
$869.9K
$761.2K – $1.01M
NOI $60,896 @ 7.0% cap · market cap 4.87%
Theoretical Best
Office A
$1.26M
$1.10M – $1.47M
NOI $88,364 @ 7.0% cap · market cap 7.07%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
Single-tenant
Tenancy
Location Intelligence
Trade Area within ½ mile
488
Businesses Nearby
Explore this area
Business Placement
Demographics for 33990, FL
32,717
Population
15,483
Households
2.1
Avg Household Size
47
Median Age
24%
College-Educated
89%
High-School Grad
9.3 sq mi
ZIP Area
3,518
Density / Sq Mi
$70,278
Median Household Income
$38,588
Median Earnings
$1,643
Median Rent
$330,500
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 building - Commercially zoned office property with medical use potential, on-site parking, and an existing tax and accounting service occupant.
Where is this office building located?
The property is located at 1323 Viscaya Pkwy Cape Coral, FL.
What is the asking price?
The asking price for this property is $1,250,000.
What are key features of this property?
This property features: 4,865 SF two‑story office building with 2,240 square feet per floor and a 385‑square‑foot lobby; Approximately 0.34± acres, or 15,000 square feet of land; Built in 1991 and currently occupied by a multistate tax and accounting service
