Flex Space With Two Steel
For Sale
$575,000
22110 Palm Beach Boulevard, Alva, FL 33920
COMMERCIAL - Alva, FL
Property Size3,648 SF
Lot Size0.89 Acres
Price / SF$157.62
Days on Market196
Property Features for 22110 Palm Beach Boulevard
General Information
Property type
Commercial Sale
Property subtype
Other
Zoning description
AG-2
Fencing
Fenced
Subdivision
AL02 - Alva
Standard status
Active
APN
26-43-27-00-00015.0010
Lot size
0.89 Acres
Taxes and HOA fees
Tax Year
2025
Tax Description
E 66 FT OF NW 1/4 OF NW 1/4 OF SW 1/4 AS DESC IN DB 48 PG 122 LESS RD R/W DESC IN DB 184 PG 571
Tax Annual Amount
3869
Legal Description
E 66 FT OF NW 1/4 OF NW 1/4 OF SW 1/4 AS DESC IN DB 48 PG 122 LESS RD R/W DESC IN DB 184 PG 571
Utilities
Sewer type
Septic Tank
Amenities
restroom and shower
covered front porch
Building Details
Year built
1958
Floors in Building
1
Listing Agency:
Armada Real Estate, Inc.
(239) 788-2738
Listed By:
Amber Ledoux · License #258036165
(239) 222-3616
Added: Feb 4
Changed: Aug 19
Last Checked: Aug 19 at 2:06PM
MLS# 2026006174
Copyright © 2026 Florida Gulf Coast Multiple Listing Service, Inc. All rights reserved. All information provided by the listing agent/broker is deemed reliable but is not guaranteed and should be independently verified.
Investment Insights
Based on property information with market context.
This flex property includes two steel buildings supporting storage, workshop, agricultural, and equipment-related uses. The first building measures 48' x 36' and includes a covered front porch, restroom, shower, 200 amp electrical service, and new roll-up garage doors. The second measures 80' x 24' and provides a dock-height loading platform, overhead door, and an oversized door with ramp access for larger vehicles or equipment.
The property contains 0.887 acres at 22110 Palm Beach Boulevard in Alva, with direct access to Route 80. It is fenced, zoned Ag-2, and served by a septic tank. Built in 1958, the site offers a combination of enclosed building area, loading functionality, and outdoor commercial utility.
The property contains 0.887 acres at 22110 Palm Beach Boulevard in Alva, with direct access to Route 80. It is fenced, zoned Ag-2, and served by a septic tank. Built in 1958, the site offers a combination of enclosed building area, loading functionality, and outdoor commercial utility.
Key Highlights
- Two steel buildings measuring 48' x 36' and 80' x 24'
- 200 amp electrical service in the 48' x 36' building
- Dock‑height loading platform with overhead door
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
$39,907
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
6.94%
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%
$798,140
$798.1K
Cap Rate 7%
$570,100
$570.1K
Cap Rate 9%
$443,411
$443.4K
Market Conditions
NOI Build-Up for 3,648 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
$65.7K $18.00/SF
− Vacancy
−$4.3K −$1.17/SF
EGI
$61.4K $16.83/SF
− OpEx
−$21.5K −$5.89/SF
NOI
$39.9K $10.94/SF
Area
Lee County, FL
Vacancy
6.50%
Lease Rate
$18.00 /SF/Yr
Expense Ratio
35.00%
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%
$798,140
Cap Rate 7%
$570,100
Cap Rate 9%
$443,411
Alternative Uses
Best Use
Flex RnD
$570.1K
$498.8K – $665.1K
NOI $39,907 @ 7.0% cap · market cap 6.94%
Second Best
Warehouse
$531.4K
$464.9K – $619.9K
NOI $37,195 @ 7.0% cap · market cap 6.47%
Theoretical Best
Office A
$1.15M
$1.00M – $1.34M
NOI $80,373 @ 7.0% cap · market cap 13.98%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
Yes
Highway access
Yes
Paved road access
Yes
Utilities to site
Location Intelligence
Trade Area within ½ mile
45
Businesses Nearby
Well-served
Demand for This Use
Explore this area
Business Placement
Demographics for 33920, FL
6,797
Population
3,193
Households
2.1
Avg Household Size
50
Median Age
34%
College-Educated
95%
High-School Grad
62.1 sq mi
ZIP Area
109
Density / Sq Mi
$87,601
Median Household Income
$49,688
Median Earnings
$1,119
Median Rent
$376,000
Median Home Value
Market
Vacancy Rate% for Industrial in South region
Questions? Ask Rey
Realmo’s AI knows this listing — price, zoning, demand, history. Ask anything.
Frequently Asked Questions
What type of property is this?
Flex space - Fenced Ag-2 property combines adaptable workshop, storage, and agricultural-use improvements with Route 80 access.
Where is this flex space located?
The property is located at 22110 Palm Beach Boulevard Alva, FL.
What is the asking price?
The asking price for this property is $575,000.
What are key features of this property?
This property features: Two steel buildings measuring 48' x 36' and 80' x 24'; 200 amp electrical service in the 48' x 36' building; Dock‑height loading platform with overhead door
