Three-Unit Office
For Sale
$1,495,000
2341 Palm Ridge Road, Sanibel, FL 33957
CommercialSale, Sanibel, FL
Property Size2,827 SF
Lot Size0.08 Acres
Price / SF$528.83
Days on Market146
Property Features for 2341 Palm Ridge Road
General Information
Property type
Commercial Sale
Property subtype
Office
Subdivision
SI01 - Sanibel Island
Standard status
Active
APN
26-46-22-T2-00800.00A0
Lot size
0.08 Acres
Taxes and HOA fees
Tax Year
2025
Tax Description
TOWN CENTER PROF PLAZA OR 2033 PG 4114 UNIT A, Unit B and Unit C
Tax Annual Amount
4180
Legal Description
TOWN CENTER PROF PLAZA OR 2033 PG 4114 UNIT A, Unit B and Unit C
Building Details
Year built
1988
Floors in Building
1
Listing Agency:
Portside Property Group
(239) 472-3334
Listed By:
Kenneth King · License #280596880
(239) 940-9787
Added: May 15
Changed: Aug 19
Last Checked: Oct 7 at 6:06PM
MLS# 2026022434
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 office property comprises three separately recorded units that are currently arranged as one operating space. The interior includes private offices, conference areas, reception, a kitchenette, restrooms, and adaptable work areas. Constructed in 1988, the building has an established professional office occupant and 22 on-site parking spaces.
The property is located at 2341 Palm Ridge Road in Sanibel, near CVS and Sanibel City Center and just off Periwinkle Way. Its setting within the Town Center corridor provides access to an established commercial area. The existing configuration supports continued occupancy while retaining the physical separation of the individual units for future flexibility.
The property is located at 2341 Palm Ridge Road in Sanibel, near CVS and Sanibel City Center and just off Periwinkle Way. Its setting within the Town Center corridor provides access to an established commercial area. The existing configuration supports continued occupancy while retaining the physical separation of the individual units for future flexibility.
Key Highlights
- Three separate folios and units currently configured as one operating space
- 22 on‑site parking spaces
- 0.079 acres
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.
Property Analytics
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Current Use
Lease Details
Single-tenant
Tenancy
Location Intelligence
Trade Area within ½ mile
395
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
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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?
Office units - Configured with private offices, conference space, reception, kitchenette, restrooms, and flexible work areas for professional services.
Where is this office units located?
The property is located at 2341 Palm Ridge Road 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: Three separate folios and units currently configured as one operating space; 22 on‑site parking spaces; 0.079 acres
