Stand-Alone Office Building
For Sale
$474,900
164 Pondella Rd, North Fort Myers, FL 33903
Stand-alone, partially furnished office building on a high-visibility corner with ADA-accessible layout and private offices.
Property Size1,104 SF
Price / SF$430.16
Days on Market135
Property Features for 164 Pondella Rd
General Information
Standard status
Active
Size
1,104 SF
Building Details
Year Built
1955
Listing Agency:
MAXIM LLC
Listed By:
Gibson Eagle · License #3308313
(239) 994-3681
Source:
Chenoregroup
Added: Apr 24
Changed: Sep 3
Last Checked: Sep 5 at 11:36AM
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 MAXIM LLC
Investment Insights
Based on property information with market context.
This stand-alone commercial office building is partially furnished and currently configured as a professional office, remodeled in 2020. The interior includes multiple private offices, a conference room, reception area, kitchen, storage, and two bathrooms, with ADA accessibility. The property totals approximately 1,100± sq ft (just over 1,300 sq ft including the carport). The roof was replaced in 2022.
Located along Pondella Road in North Fort Myers, the building is zoned CS-2. It is also within the North Fort Myers Community Plan Area under LDC Section 33-1566, which provides North Fort Myers Commercial Corridor special regulations for CS-2 properties with frontage on Pondella Road, including the applicable permitted use schedule referenced in LDC Sec. 33-1596.
Agents should review the confidential remarks for additional LDC use details. The property is positioned on a high-visibility corner with signage exposure and convenient access for clients, staff, and patients.
Located along Pondella Road in North Fort Myers, the building is zoned CS-2. It is also within the North Fort Myers Community Plan Area under LDC Section 33-1566, which provides North Fort Myers Commercial Corridor special regulations for CS-2 properties with frontage on Pondella Road, including the applicable permitted use schedule referenced in LDC Sec. 33-1596.
Agents should review the confidential remarks for additional LDC use details. The property is positioned on a high-visibility corner with signage exposure and convenient access for clients, staff, and patients.
Key Highlights
- Stand‑alone commercial office building (Year Built 1955) on a high‑visibility corner along Pondella Road with strong traffic counts and signage exposure
- Approximately 1,100± SF (just over 1,300 SF including carport) remodeled in 2020 with multiple private offices plus conference and reception areas
- Interior features kitchen, storage, and two bathrooms, including ADA accessible accommodations
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
$18,972
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
3.99%
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%
$379,440
$379.4K
Cap Rate 7%
$271,029
$271.0K
Cap Rate 9%
$210,800
$210.8K
Market Conditions
NOI Build-Up for 1,104 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
$27.6K $24.96/SF
− Vacancy
−$2.3K −$2.05/SF
EGI
$25.3K $22.91/SF
− OpEx
−$6.3K −$5.73/SF
NOI
$19.0K $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%
$379,440
Cap Rate 7%
$271,029
Cap Rate 9%
$210,800
Alternative Uses
Best Use
Office B
$271.0K
$237.2K – $316.2K
NOI $18,972 @ 7.0% cap · market cap 3.99%
Second Best
Healthcare Medical
$197.4K
$172.7K – $230.3K
NOI $13,819 @ 7.0% cap · market cap 2.91%
Theoretical Best
Office A
$347.5K
$304.0K – $405.4K
NOI $24,323 @ 7.0% cap · market cap 5.12%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Location Intelligence
Trade Area within ½ mile
872
Businesses Nearby
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
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Frequently Asked Questions
What type of property is this?
Office building - Stand-alone, partially furnished office building on a high-visibility corner with ADA-accessible layout and private offices.
Where is this office building located?
The property is located at 164 Pondella Rd North Fort Myers, FL.
What is the asking price?
The asking price for this property is $474,900.
What are key features of this property?
This property features: Stand‑alone commercial office building (Year Built 1955) on a high‑visibility corner along Pondella Road with strong traffic counts and signage exposure; Approximately 1,100± SF (just over 1,300 SF including carport) remodeled in 2020 with multiple private offices plus conference and reception areas; Interior features kitchen, storage, and two bathrooms, including ADA accessible accommodations
