Three-Unit Office
2341 Palm Ridge Rd #A B C, Sanibel, FL 33957
For Sale
$1,495,000
Three office units are configured as one combined workspace with private offices, meeting space, and reception.
Property Size2,827 SF
Price / SF$528.83
Days on Market182
Property Features for 2341 Palm Ridge Rd #A B C
General Information
Standard status
Size
Total Parking Spaces
Property subtype
Tenancy & Operations
Currently Operating
Tenant in Place
Additional Details
Office Units
Property Use
Taxes and HOA fees
Annual Taxes
Building Details
Year Built
Buildings
Stories
Tenancy
Listing Agency:
Portside Property Group
(239) 472-3334
Listed By:
Kenneth King · License FL #280596880
(239) 940-9787
Source:
Jvegarealty
Added: May 15
Changed: Nov 12
Last Checked: Nov 12 at 1:39AM
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 Portside Property Group
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Investment Insights
Based on property information with market context.
Built in 1988, this 2,827-square-foot office property comprises three separate units currently configured as a single workspace. The interior includes private offices, a conference room, reception, kitchenette, restrooms, and flexible work areas. There are 22 on-site parking spaces, and a professional office occupant is in place.
The property is on Palm Ridge Road in Sanibel’s Town Center corridor, near CVS and Sanibel City Center, and just off Periwinkle Way. Its three units have separate folios and tax parcels, while the current layout operates as one combined space.
The property is on Palm Ridge Road in Sanibel’s Town Center corridor, near CVS and Sanibel City Center, and just off Periwinkle Way. Its three units have separate folios and tax parcels, while the current layout operates as one combined space.
Key Highlights
- 2,827‑square‑foot office property with three separate units
- Three units currently operate as one combined workspace
- Interior includes private offices, conference room, reception, kitchenette, restrooms, and flexible work areas
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$48,582
Cap Rate
3.25%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$971,640
$971.6K
Cap Rate 7%
$694,029
$694.0K
Cap Rate 9%
$539,800
$539.8K
Market Conditions
NOI Build-Up for 2,827 SF
Gross rent
$70.6K $24.96/SF
− Vacancy
−$5.8K −$2.05/SF
EGI
$64.8K $22.91/SF
− OpEx
−$16.2K −$5.73/SF
NOI
$48.6K $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 Rate 5%
$971,640
Cap Rate 7%
$694,029
Cap Rate 9%
$539,800
Alternative Uses
Best Use
Office B
$694.0K
$607.3K – $809.7K
NOI $48,582 @ 7.0% cap · market cap 3.25%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$889.8K
$778.6K – $1.04M
NOI $62,284 @ 7.0% cap · market cap 4.17%
Zoning and permitted uses should be independently verified with authorities.
How Realmo checks its estimates
Property Analytics
Current Use
Lease Details
3
Office units
Single-tenant
Tenancy
Location Intelligence
Trade Area within ½ mile
12
Businesses Nearby
Explore this area
Business Placement
Demographics for 33957, FL
6,382
Population
8,525
Households
0.7
Avg Household Size
68
Median Age
62%
College-Educated
99%
High-School Grad
16.2 sq mi
ZIP Area
394
Density / Sq Mi
$122,730
Median Household Income
$44,840
Median Earnings
$747
Median Rent
$912,200
Median Home Value
Market
Average Price Trend$/SF for Office Units in Lee County, FL
Properties on Market for Office Units in Lee County
Vacancy Rate% for Office in South region
Frequently Asked Questions
What type of property is this?
Office unit - Three office units are configured as one combined workspace with private offices, meeting space, and reception.
Where is this office unit located?
The property is located at 2341 Palm Ridge Rd #A B C Sanibel, FL.
What is the asking price?
The asking price for this property is $1,495,000.
What are key features of this property?
This property features: 2,827‑square‑foot office property with three separate units; Three units currently operate as one combined workspace; Interior includes private offices, conference room, reception, kitchenette, restrooms, and flexible work areas
