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 Market100
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: Aug 22 at 9:06PM
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 separate folios or units that are currently arranged as a single workplace. The 1988 building contains multiple private offices, conference space, a reception area, kitchenette, restrooms, and adaptable work areas. A professional office occupant is currently in place, providing an existing operating configuration for a purchaser to evaluate.
The property is located at 2341 Palm Ridge Road near CVS and Sanibel City Center, just off Periwinkle Way in Sanibel’s Town Center corridor. On-site parking and direct access support day-to-day office operations. The separate unit and tax-parcel structure also offers a basis for considering continued single-user occupancy or future suite separation, subject to applicable requirements.
The property is located at 2341 Palm Ridge Road near CVS and Sanibel City Center, just off Periwinkle Way in Sanibel’s Town Center corridor. On-site parking and direct access support day-to-day office operations. The separate unit and tax-parcel structure also offers a basis for considering continued single-user occupancy or future suite separation, subject to applicable requirements.
Key Highlights
- Three separate folios/units currently operating as one combined office
- Approximately 2,827 square feet with 22 on‑site parking spaces
- Current professional office occupant in place
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
$48,582
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
3.25%
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%
$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
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
$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 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%
$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
Property Profile
Current Use
Lease Details
3
Office units
Single-tenant
Tenancy
Yes
Paved road access
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
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 - Combined office configuration with private rooms, conference space, reception, kitchenette, restrooms, and flexible work areas.
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/units currently operating as one combined office; Approximately 2,827 square feet with 22 on‑site parking spaces; Current professional office occupant in place
