Two-Unit Office Condo
For Sale
$337,000
21202-21234 Olean Boulevard Unit 2S, Port Charlotte, FL 33952
Office condominium units offer central air, established tenancy, and flexible separate-sale availability.
Property Size1,975 SF
Price / SF$170.63
Days on Market1676
Property Features for 21202-21234 Olean Boulevard Unit 2S
General Information
Standard status
Active
Size
1,975 SF
Property subtype
Commercial Sale / Multi-Family
Zoning
CG
Additional Details
Highway Access
Yes
Office Units
2
Taxes and HOA fees
Annual Taxes
$4,594
Amenities
Central Air
Other
No
Square Feet
Public Records
One
Slab
Block
Building Details
Year Built
1978
Tenancy
Multi
Listing Agency:
THOMAS RYAN REAL ESTATE MANAGE
(941) 833-4777
Listed By:
Shannon Gadbois · License #3117319
(941) 833-4777
Source:
Compass
Added: Jan 28, 2022
Changed: Aug 31
Last Checked: Aug 31 at 2:09AM
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 THOMAS RYAN REAL ESTATE MANAGE
Investment Insights
Based on property information with market context.
This office condominium property includes two units with a combined reported property size of 1,975 square feet. Both units are occupied under existing leases, and central air supports continued office use. The property was constructed in 1978 and carries CG zoning. Each unit is also available for separate purchase.
The property is positioned just off US 41 in Port Charlotte, with on-site parking and proximity to the two major hospitals serving the area. The surrounding commercial complex includes professional offices, medical practices, attorneys, real estate firms, and other business uses, providing an established office setting for a range of occupants.
The property is positioned just off US 41 in Port Charlotte, with on-site parking and proximity to the two major hospitals serving the area. The surrounding commercial complex includes professional offices, medical practices, attorneys, real estate firms, and other business uses, providing an established office setting for a range of occupants.
Key Highlights
- Two office condominium units offered together or separately
- 1,975 SF reported property size
- Existing leases with established tenants
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
$27,617
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
8.19%
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%
$552,340
$552.3K
Cap Rate 7%
$394,529
$394.5K
Cap Rate 9%
$306,856
$306.9K
Market Conditions
NOI Build-Up for 1,975 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
$51.4K $26.04/SF
− Vacancy
−$5.4K −$2.73/SF
EGI
$46.0K $23.31/SF
− OpEx
−$18.4K −$9.32/SF
NOI
$27.6K $13.98/SF
Area
Charlotte County, FL
Vacancy
10.50%
Lease Rate
$26.04 /SF/Yr
Expense Ratio
40.00%
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%
$552,340
Cap Rate 7%
$394,529
Cap Rate 9%
$306,856
Alternative Uses
Best Use
Healthcare Medical
$394.5K
$345.2K – $460.3K
NOI $27,617 @ 7.0% cap · market cap 8.19%
Second Best
Office B
$349.2K
$305.6K – $407.4K
NOI $24,444 @ 7.0% cap · market cap 7.25%
Theoretical Best
Office A
$646.7K
$565.8K – $754.5K
NOI $45,267 @ 7.0% cap · market cap 13.43%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Current Use
Lease Details
2
Office units
Multi-tenant
Tenancy
Yes
Highway access
Location Intelligence
Trade Area within ½ mile
1,809
Businesses Nearby
Explore this area
Business Placement
Demographics for 33952, FL
32,084
Population
17,682
Households
1.8
Avg Household Size
52
Median Age
20%
College-Educated
88%
High-School Grad
11.0 sq mi
ZIP Area
2,917
Density / Sq Mi
$56,117
Median Household Income
$33,999
Median Earnings
$1,249
Median Rent
$224,900
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 - Office condominium units offer central air, established tenancy, and flexible separate-sale availability.
Where is this office units located?
The property is located at 21202-21234 Olean Boulevard Unit 2S Port Charlotte, FL.
What is the asking price?
The asking price for this property is $337,000.
What are key features of this property?
This property features: Two office condominium units offered together or separately; 1,975 SF reported property size; Existing leases with established tenants
