Two-Story Retail Building with
2440 Palm Ridge Road Sanibel Sanibel, FL 33957
For Sale
$2,700,000
Two-story retail building with 175 feet of frontage and a fully leased first floor for immediate income.
Property Size8,132 SF
Price / SF$332.02
Days on Market24
Property Features for 2440 Palm Ridge Road Sanibel
General Information
- Standard status
- Active
- Size
- 8,132 SF
Building Details
- Year Built
- 1980
Listing Agency:
(904) 569-5862
Listed By:
Tory Atkins
(904) 569-5862
Source:
Movetojacksonville
Added: Jul 1
Changed: Jul 23
Last Checked: Jul 23 at 1:36PM
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 Tory Atkins
Investment Insights
Based on property information with market context.
This income-producing two-story commercial building is positioned for strong street visibility and includes a fully leased first floor. Each level offers 4,066 square feet, providing flexibility for an owner or future use changes. The structure is built with steel-reinforced concrete slab and concrete stem wall footings, designed for long-term durability and low maintenance. The second floor includes architectural plans already prepared for residential potential, subject to City approval. The building is currently being repainted, and doors are being replaced on the second floor.
The property is located in Sanibel’s Central Business District with 175 feet of frontage on Palm Ridge Road. It is zoned Town Center Limited and is designated G (Altered Lands) under the City of Sanibel Comprehensive Land Use Plan.
The property is located in Sanibel’s Central Business District with 175 feet of frontage on Palm Ridge Road. It is zoned Town Center Limited and is designated G (Altered Lands) under the City of Sanibel Comprehensive Land Use Plan.
Key Highlights
- Two‑story commercial building in Sanibel’s Central Business District with 175 ft of Palm Ridge Road frontage and visibility
- Fully leased first floor for immediate, stable income; second floor offers 4,066 SF of space
- Each level includes 4,066 SF, totaling 8,132 SF of rentable space
Financial Insights For Retail
Simulate Cap Rate and NOI
NOI Build-Up
- 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.
| Component | $ | $/SF |
|---|---|---|
| Gross rent | $157.1k | $19.32 |
| − Vacancy | −$4.7k | −$0.58 |
| EGI | $152.4k | $18.74 |
| − OpEx | −$45.7k | −$5.62 |
| NOI | $106.7k | $13.12 |
8,132 SF · lease $19.32/SF/yr · vacancy 3.00% · expense 30.00%
Alternative Uses
Best Use
Retail
$1.52M
$1.33M – $1.78M
NOI $106,678 @ 7.0% cap · market cap 3.95%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$2.56M
$2.24M – $2.99M
NOI $179,164 @ 7.0% cap · market cap 6.64%
Zoning and permitted uses should be independently verified with local authorities.
Property Analytics
Location Intelligence
Current Use by Public Records
Great White Grill
Restaurant
Sunset Air and Home ...
Hardware & Home Improvement
Keller Williams Realty ...
Real Estate Agency
Newport Property Construction
Construction Company
Pelican Place
Shopping Center & Mall
FAQs
What type of property is this?
Retail space - Two-story retail building with 175 feet of frontage and a fully leased first floor for immediate income.
Where is this retail space located?
The property is located at 2440 Palm Ridge Road Sanibel Sanibel, FL.
What is the asking price?
The asking price for this property is $2,700,000.
What are key features of this property?
This property features: Two‑story commercial building in Sanibel’s Central Business District with 175 ft of Palm Ridge Road frontage and visibility; Fully leased first floor for immediate, stable income; second floor offers 4,066 SF of space; Each level includes 4,066 SF, totaling 8,132 SF of rentable space
