Three-Suite Medical Office
New
For Sale
$449,000
13960 Stringfellow Road, Bokeelia, FL 33922
Separate entrances and HVAC systems support distinct occupancy across the building’s professional suites.
Property Size2,352 SF
Lot Size0.28 Acres
Price / SF$190.90
Days on Market7
Property Features for 13960 Stringfellow Road
General Information
Standard status
Active
Size
2,352 SF
Total Parking Spaces
12
Lot size
0.28 Acres
Property subtype
Commercial
Zoning
CS
Additional Details
Road Access
Yes
Office Units
3
Amenities
Lot Size Acres: 0.28
Percentage of Tax that is Deductable: 0
Sale, Sale Type: Foreclosure
Property Township: Lee County
Building Details
Buildings
1
Building Size
2,352 SF
Tenancy
Multi
Listing Agency:
National Land Realty Apex
Listed By:
Justus Koester · License #BK3458696
(855) 384-5263
Source:
Doyle-realty
Added: Sep 28
Changed: Oct 3
Last Checked: Oct 4 at 10:55AM
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 National Land Realty Apex
Investment Insights
Based on property information with market context.
The medical and professional office property contains approximately 2,352 square feet on 0.28 acres, arranged as three independent suites. Each suite has a separate entrance and HVAC system. Interior features include private office or treatment rooms, reception areas, tile flooring, and kitchenette areas. The largest suite is configured with three rooms, two restrooms, a kitchenette, and additional private office space. The building was previously used as medical offices.
Located at 13960 Stringfellow Road in Bokeelia, the property has approximately 80 feet of road frontage and 12 on-site parking spaces, including two accessible spaces. It is zoned CS. Any proposed use and applicable approvals should be confirmed by the buyer.
Located at 13960 Stringfellow Road in Bokeelia, the property has approximately 80 feet of road frontage and 12 on-site parking spaces, including two accessible spaces. It is zoned CS. Any proposed use and applicable approvals should be confirmed by the buyer.
Key Highlights
- Three separate suites, each with its own entrance and HVAC system
- Approximately 2,352 square feet on 0.28 acres
- Largest suite includes three rooms, two restrooms, kitchenette, and private office space
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
$40,419
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
9.00%
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%
$808,380
$808.4K
Cap Rate 7%
$577,414
$577.4K
Cap Rate 9%
$449,100
$449.1K
Market Conditions
NOI Build-Up for 2,352 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
$58.7K $24.96/SF
− Vacancy
−$4.8K −$2.05/SF
EGI
$53.9K $22.91/SF
− OpEx
−$13.5K −$5.73/SF
NOI
$40.4K $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%
$808,380
Cap Rate 7%
$577,414
Cap Rate 9%
$449,100
Alternative Uses
Best Use
Office B
$577.4K
$505.2K – $673.7K
NOI $40,419 @ 7.0% cap · market cap 9.00%
Second Best
Healthcare Medical
$420.6K
$368.0K – $490.7K
NOI $29,440 @ 7.0% cap · market cap 6.56%
Theoretical Best
Office A
$740.3K
$647.7K – $863.7K
NOI $51,819 @ 7.0% cap · market cap 11.54%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
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Open Analytics
Current Use
Lease Details
3
Office units
Multi-tenant
Tenancy
Yes
Paved road access
Location Intelligence
Trade Area within ½ mile
50
Businesses Nearby
Well-served
Demand for This Use
Explore this area
Business Placement
Demographics for 33922, FL
4,326
Population
2,925
Households
1.5
Avg Household Size
59
Median Age
34%
College-Educated
87%
High-School Grad
20.9 sq mi
ZIP Area
207
Density / Sq Mi
$68,579
Median Household Income
$34,503
Median Earnings
$1,110
Median Rent
$330,100
Median Home Value
Check the figures for this property
Cap Rate, Value Estimation, Potential NOI and more
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Market
Vacancy Rate% for Office in South region
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Frequently Asked Questions
What type of property is this?
Medical Office Space - Separate entrances and HVAC systems support distinct occupancy across the building’s professional suites.
Where is this medical office space located?
The property is located at 13960 Stringfellow Road Bokeelia, FL.
What is the asking price?
The asking price for this property is $449,000.
What are key features of this property?
This property features: Three separate suites, each with its own entrance and HVAC system; Approximately 2,352 square feet on 0.28 acres; Largest suite includes three rooms, two restrooms, kitchenette, and private office space
