Four-Unit Flex
For Sale
$1,050,000
Pending
326 NE 3rd Avenue, Cape Coral, FL 33909
CommercialSale, Cape Coral, FL
Property Size4,000 SF
Lot Size0.30 Acres
Days on Market293
Property Features for 326 NE 3rd Avenue
General Information
Property type
Commercial Sale
Property subtype
Office
Zoning description
CORR
Directions
On north side of Pine Island Road off of NE 3rd Avenue. Just west of Andalusia and east of Santa Barbara.
Subdivision
CC31 - Cape Coral Unit 17, 31-36
Standard status
Pending
APN
12-44-23-C3-00600.0180
Lot size
0.30 Acres
Taxes and HOA fees
Tax Year
2024
Tax Description
DEER RUN COMMERCIAL PARK PB 40 PG 72 LOT 18
Tax Annual Amount
9779
Legal Description
DEER RUN COMMERCIAL PARK PB 40 PG 72 LOT 18
Building Details
Year built
2006
Floors in Building
1
Listing Agency:
The Keyes Company
(239) 323-2883
Listed By:
Annette Barbaccia · License #258012566
(239) 850-8301
Added: Nov 9, 2025
Changed: Aug 27
Last Checked: Aug 29 at 4:06PM
MLS# 2025019479
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 4,000 sf flex property is configured as four 1,000 sf units, combining warehouse areas with office and bathroom space. The building features high ceilings and large doors, supporting a range of commercial operations within a compact, multi-unit layout. Ten on-site parking spaces serve the property, which was built in 2006.
The building is located at 326 NE 3rd Avenue in Cape Coral, just off Pine Island Road. Its central Cape Coral setting provides access throughout the city and Lee County. The property is offered for sale or lease and currently includes one tenant.
The building is located at 326 NE 3rd Avenue in Cape Coral, just off Pine Island Road. Its central Cape Coral setting provides access throughout the city and Lee County. The property is offered for sale or lease and currently includes one tenant.
Key Highlights
- 4,000 sf building configured as four 1,000 sf units
- Warehouse areas include high ceilings and large doors
- Office and bathroom space included within the units
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
Yes
Paved road access
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
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- Little Joe's Special Events — 818 NE 8th St, Cape Coral, FL 33909
Frequently Asked Questions
What type of property is this?
Flex space - Warehouse areas are paired with offices, bathrooms, high ceilings, and oversized doors for practical commercial functionality.
Where is this flex space located?
The property is located at 326 NE 3rd Avenue 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 sf building configured as four 1,000 sf units; Warehouse areas include high ceilings and large doors; Office and bathroom space included within the units
