Tamiami Trail Commercial
For Sale
$1,750,000
1357 N Tamiami Trail, North Fort Myers, FL 33903
8,126 SF commercial building on 0.83 acres.
Property Size8,126 SF
Lot Size0.83 Acres
Price / SF$215.36
Days on Market654
Property Features for 1357 N Tamiami Trail
General Information
Standard status
Active
Size
8,126 SF
Lot size
0.83 Acres
Property subtype
Commercial
Building Details
Year Built
1950
Listing Agency:
Realty One Group MVP
(937) 232-3070
Listed By:
Joanne Fultz · License #SL3449480
(239) 415-5881
Source:
Cthomeseekers
Added: Nov 7, 2024
Changed: Aug 23
Last Checked: Aug 22 at 8:43AM
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 Realty One Group MVP
Investment Insights
Based on property information with market context.
Located on a busy stretch of Tamiami Trail, this 8,126 sq. ft. commercial building sits on 0.83 acres. The property features highly visible frontage and a fenced lot with signage. It is zoned C2, offering flexible use for office, medical office, or retail purposes. The property is in close proximity to new construction apartment buildings, including the Alary (272 units), Horizon Tamiami (468 units), and Hancock Bridge Square (320 units).
Key Highlights
- High‑visibility frontage on busy Tamiami Trail.
- Flexible C2 zoning allows for office, medical office, or retail use.
- Seller financing available (50% down, 3 yr balloon @9%).
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
$139,645
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
7.98%
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%
$2,792,900
$2.8M
Cap Rate 7%
$1,994,929
$2.0M
Cap Rate 9%
$1,551,611
$1.6M
Market Conditions
NOI Build-Up for 8,126 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
$202.8K $24.96/SF
− Vacancy
−$16.6K −$2.05/SF
EGI
$186.2K $22.91/SF
− OpEx
−$46.5K −$5.73/SF
NOI
$139.6K $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%
$2,792,900
Cap Rate 7%
$1,994,929
Cap Rate 9%
$1,551,611
Alternative Uses
Best Use
Office B
$1.99M
$1.75M – $2.33M
NOI $139,645 @ 7.0% cap · market cap 7.98%
Second Best
Retail
$1.52M
$1.33M – $1.78M
NOI $106,599 @ 7.0% cap · market cap 6.09%
Theoretical Best
Office A
$2.56M
$2.24M – $2.98M
NOI $179,032 @ 7.0% cap · market cap 10.23%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Location Intelligence
Trade Area within ½ mile
781
Businesses Nearby
Balanced
Demand for This Use
Explore this area
Business Placement
Demographics for 33903, FL
23,294
Population
15,400
Households
1.5
Avg Household Size
61
Median Age
24%
College-Educated
89%
High-School Grad
11.3 sq mi
ZIP Area
2,061
Density / Sq Mi
$56,317
Median Household Income
$32,452
Median Earnings
$1,152
Median Rent
$135,400
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.
Similar Off Market Nearby
- Vet Wellcare Vaccinations Clinic at Pet Supermarket — 13860 N Cleveland Ave N, Fort Myers, FL 33901
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- Vicki Scott DVM,MS — 14487 N Cleveland Ave, North Fort Myers, FL 33903
Frequently Asked Questions
What type of property is this?
Medical Office Space - 8,126 SF commercial building on 0.83 acres.
Where is this medical office space located?
The property is located at 1357 N Tamiami Trail North Fort Myers, FL.
What is the asking price?
The asking price for this property is $1,750,000.
What are key features of this property?
This property features: High‑visibility frontage on busy Tamiami Trail.; Flexible C2 zoning allows for office, medical office, or retail use.; Seller financing available (50% down, 3 yr balloon @9%).
