Freestanding Office Building with
New
For Sale
$349,900
251 East Olympia Avenue Punta, Punta Gorda, FL 33950
Two commercial spaces offer flexible office, retail, studio, and service configurations in downtown Punta Gorda.
Property Size1,238 SF
Days on Market4
Property Features for 251 East Olympia Avenue Punta
General Information
Standard status
Active
Size
1,238 SF
Property subtype
Office
Zoning
CC
Amenities
Approximately 92 feet of frontage on E Olympia Avenue
City Center zoning
Concrete block construction
Built in 1966
New HVAC in Unit A, installed 2026
Large storefront windows with excellent natural light
Open gallery/showroom-style floor plan
Kitchenette and rear storage/private area
Dedicated on-site parking plus nearby street parking
Rear access
Building signage opportunity
City water and sewer
Existing month-to-month tenant willing to remain
Potential for future redevelopment or expansion, subject to City approvals
Walkable to Downtown Punta Gorda restaurants, businesses, hotels, and waterfront amenities
Easy access to US 41, US 17, I-75, and Punta Gorda Airport
Building Details
Building Size
1,238 SF
Year Built
1966
Listing Agency:
RE/MAX
Listed By:
Hunter McCarthy · License #SL3472177
(941) 366-1136
Source:
Remaxcommercial
Added: Sep 16
Last Checked: Sep 19 at 5:49AM
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 RE/MAX
Investment Insights
Based on property information with market context.
This freestanding concrete block office property contains 1,238± square feet divided into two commercial spaces. Unit A provides an open gallery-style layout, large storefront windows, natural light, a separate work area, rear storage or private space, kitchenette, and a restroom with shower. Unit B has a wide-open rectangular floor plan and rear restroom. Building signage, dedicated on-site parking, nearby street parking, rear access, and city water and sewer support daily operations. Unit A received a new HVAC system in 2026, while Unit B is served by a window unit.
The property occupies approximately 0.11 acres with roughly 92 feet of frontage along E Olympia Avenue in Downtown Punta Gorda. An existing month-to-month bail bonds tenant is willing to remain. City Center zoning and the property's location near downtown restaurants, businesses, hotels, and waterfront amenities provide additional context for current occupancy and future planning. Access to US 41, US 17, I-75, and Punta Gorda Airport is also available. Any intended use or redevelopment remains subject to City approvals.
The property occupies approximately 0.11 acres with roughly 92 feet of frontage along E Olympia Avenue in Downtown Punta Gorda. An existing month-to-month bail bonds tenant is willing to remain. City Center zoning and the property's location near downtown restaurants, businesses, hotels, and waterfront amenities provide additional context for current occupancy and future planning. Access to US 41, US 17, I-75, and Punta Gorda Airport is also available. Any intended use or redevelopment remains subject to City approvals.
Key Highlights
- 1,238± SF freestanding concrete block building with two commercial spaces
- Approximately 0.11 acres with roughly 92 feet of frontage on E Olympia Avenue
- City Center zoning and potential future redevelopment subject to City approvals
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
$22,023
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
6.29%
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%
$440,460
$440.5K
Cap Rate 7%
$314,614
$314.6K
Cap Rate 9%
$244,700
$244.7K
Market Conditions
NOI Build-Up for 1,238 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
$32.5K $26.28/SF
− Vacancy
−$1.1K −$0.87/SF
EGI
$31.5K $25.41/SF
− OpEx
−$9.4K −$7.62/SF
NOI
$22.0K $17.79/SF
Area
Charlotte County, FL
Vacancy
3.30%
Lease Rate
$26.28 /SF/Yr
Expense Ratio
30.00%
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%
$440,460
Cap Rate 7%
$314,614
Cap Rate 9%
$244,700
Alternative Uses
Best Use
Retail
$314.6K
$275.3K – $367.1K
NOI $22,023 @ 7.0% cap · market cap 6.29%
Second Best
Office B
$218.9K
$191.5K – $255.4K
NOI $15,322 @ 7.0% cap · market cap 4.38%
Theoretical Best
Office A
$405.4K
$354.7K – $472.9K
NOI $28,375 @ 7.0% cap · market cap 8.11%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
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Current Use
Location Intelligence
Trade Area within ½ mile
1,760
Businesses Nearby
Explore this area
Business Placement
Demographics for 33950, FL
24,984
Population
16,748
Households
1.5
Avg Household Size
66
Median Age
36%
College-Educated
95%
High-School Grad
17.8 sq mi
ZIP Area
1,404
Density / Sq Mi
$74,484
Median Household Income
$46,032
Median Earnings
$1,192
Median Rent
$393,500
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 - Two commercial spaces offer flexible office, retail, studio, and service configurations in downtown Punta Gorda.
Where is this office units located?
The property is located at 251 East Olympia Avenue Punta Punta Gorda, FL.
What is the asking price?
The asking price for this property is $349,900.
What are key features of this property?
This property features: 1,238± SF freestanding concrete block building with two commercial spaces; Approximately 0.11 acres with roughly 92 feet of frontage on E Olympia Avenue; City Center zoning and potential future redevelopment subject to City approvals
