Flex Space with Warehouse
For Sale
$1,050,000
Pending
326 Ne 3rd Ave, Cape Coral, FL 33909
Four-unit commercial building combines warehouse areas with office and bathroom space near Pine Island Road.
Property Size4,000 SF
Days on Market362
Property Features for 326 Ne 3rd Ave
General Information
Standard status
Pending
Size
4,000 SF
Total Parking Spaces
10
Property subtype
Commercial
Net Operating Income
$64,000
Additional Details
Office Units
4
Building Details
Year Built
2006
Buildings
1
Building Size
4,000 SF
Tenancy
Multi
Listing Agency:
The Keyes Company
(239) 850-8301
Listed By:
Annette Barbaccia · License #258012566
Source:
Naplesareahomesearch
Added: Sep 2, 2025
Changed: Aug 29
Last Checked: Aug 25 at 7:17AM
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 The Keyes Company
Investment Insights
Based on property information with market context.
Built in 2006, this 4,000-square-foot flex property is configured as four 1,000-square-foot units. The building includes warehouse areas with high ceilings and overhead doors, along with office and bathroom space. Ten on-site parking spaces serve the property, and one tenant is currently in place.
The building is located on NE 3rd Avenue, just off Pine Island Road, providing access within Cape Coral and the surrounding county. The existing configuration supports a combination of warehouse and office functions across the property.
The building is located on NE 3rd Avenue, just off Pine Island Road, providing access within Cape Coral and the surrounding county. The existing configuration supports a combination of warehouse and office functions across the property.
Key Highlights
- 4,000‑square‑foot flex building configured as four 1,000‑square‑foot units
- Warehouse areas feature high ceilings and overhead doors
- Office and bathroom space included within the building
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
$56,610
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
5.39%
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%
$1,132,200
$1.1M
Cap Rate 7%
$808,714
$808.7K
Cap Rate 9%
$629,000
$629.0K
Market Conditions
NOI Build-Up for 4,000 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
$88.8K $22.20/SF
− Vacancy
−$13.3K −$3.33/SF
EGI
$75.5K $18.87/SF
− OpEx
−$18.9K −$4.72/SF
NOI
$56.6K $14.15/SF
Area
Cape Coral, FL
Vacancy
15.00%
Lease Rate
$22.20 /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%
$1,132,200
Cap Rate 7%
$808,714
Cap Rate 9%
$629,000
Alternative Uses
Best Use
Office B
$808.7K
$707.6K – $943.5K
NOI $56,610 @ 7.0% cap · market cap 5.39%
Second Best
Flex RnD
$625.1K
$547.0K – $729.3K
NOI $43,758 @ 7.0% cap · market cap 4.17%
Theoretical Best
Office A
$1.04M
$908.2K – $1.21M
NOI $72,653 @ 7.0% cap · market cap 6.92%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
4
Office units
Multi-tenant
Tenancy
Location Intelligence
Trade Area within ½ mile
433
Businesses Nearby
Balanced
Demand for This Use
Explore this area
Business Placement
Demographics for 33909, FL
33,063
Population
14,051
Households
2.4
Avg Household Size
39
Median Age
25%
College-Educated
94%
High-School Grad
37.8 sq mi
ZIP Area
875
Density / Sq Mi
$79,096
Median Household Income
$39,912
Median Earnings
$1,773
Median Rent
$292,800
Median Home Value
Market
Vacancy Rate% for Office in South region
Questions? Ask Rey
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Similar Off Market Nearby
- Publix Catering at Santa Barbara Centre — 100 Hancock Bridge Pkwy, Cape Coral, FL 33991
- Bella Personal Chef — 232 NE 9th Ct, Cape Coral, FL 33909
- Little Joe's Special Events — 818 NE 8th St, Cape Coral, FL 33909
Frequently Asked Questions
What type of property is this?
Flex space - Four-unit commercial building combines warehouse areas with office and bathroom space near Pine Island Road.
Where is this flex space located?
The property is located at 326 Ne 3rd Ave Cape Coral, FL.
What is the asking price?
The asking price for this property is $1,050,000.
What are key features of this property?
This property features: 4,000‑square‑foot flex building configured as four 1,000‑square‑foot units; Warehouse areas feature high ceilings and overhead doors; Office and bathroom space included within the building
