Concrete Block Office
For Sale
$2,950,000
Pending
326 SW 2nd Terrace, Cape Coral, FL 33991
CommercialSale, Cape Coral, FL
Property Size8,550 SF
Lot Size2.30 Acres
Days on Market490
Property Features for 326 SW 2nd Terrace
General Information
Property type
Commercial Sale
Property subtype
Office
Zoning description
CC
Fencing
Fenced
Directions
From I-75 exit on 143, travel west 12 miles, turn south on SW 3rd Place, travel 2 blocks, building will be to the south.
Subdivision
CC23 - Cape Coral Unit 28, 29, 45, 62, 63, 66, 68
Standard status
Pending
APN
14-44-23-C4-01948.0210
Lot size
2.30 Acres
Taxes and HOA fees
Tax Year
2024
Tax Description
CAPE CORAL UNIT 29 BLK 1948 PB 16 PG 23 LOTS 15 THRU 23 + LOTS 44 THRU 48
Tax Annual Amount
27989
Legal Description
CAPE CORAL UNIT 29 BLK 1948 PB 16 PG 23 LOTS 15 THRU 23 + LOTS 44 THRU 48
Amenities
outside volleyball courts
outdoor fitness equipment
rooftop solar panels
Building Details
Year built
2019
Floors in Building
1
Listing Agency:
Phil Deems Real Estate
(239) 945-4545
Listed By:
Phil Deems · License #252010067
(239) 945-4540
Added: Apr 27, 2025
Changed: Aug 26
Last Checked: Aug 29 at 8:06PM
MLS# 225041591
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 8,550-square-foot concrete block office property was constructed in 2019 on 2.3 acres. The southern portion measures approximately 7,350 square feet and is occupied by a fitness training facility, with volleyball courts and outdoor exercise equipment outside. A separate 1,200-square-foot private office occupies the northern section and fronts SW 2nd Terrace. The site is fenced and offers a configuration that combines dedicated office space with a larger recreational or training component.
The building includes 60 rooftop SolarEdge panels. The property is positioned within the Pine Island Road Corridor, where the source information identifies a range of commercial uses. Existing improvements include the building, outdoor activity areas, and separate office frontage along SW 2nd Terrace.
The building includes 60 rooftop SolarEdge panels. The property is positioned within the Pine Island Road Corridor, where the source information identifies a range of commercial uses. Existing improvements include the building, outdoor activity areas, and separate office frontage along SW 2nd Terrace.
Key Highlights
- 8,550 SF concrete block building on 2.3 acres
- Constructed in 2019 and maintained in excellent condition
- Southern 7,350+/- SF section occupied by a fitness training facility
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
$121,004
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
4.10%
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%
$2,420,080
$2.4M
Cap Rate 7%
$1,728,629
$1.7M
Cap Rate 9%
$1,344,489
$1.3M
Market Conditions
NOI Build-Up for 8,550 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
$189.8K $22.20/SF
− Vacancy
−$28.5K −$3.33/SF
EGI
$161.3K $18.87/SF
− OpEx
−$40.3K −$4.72/SF
NOI
$121.0K $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%
$2,420,080
Cap Rate 7%
$1,728,629
Cap Rate 9%
$1,344,489
Alternative Uses
Best Use
Office B
$1.73M
$1.51M – $2.02M
NOI $121,004 @ 7.0% cap · market cap 4.10%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$2.22M
$1.94M – $2.59M
NOI $155,295 @ 7.0% cap · market cap 5.26%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
Yes
Paved road access
Location Intelligence
Trade Area within ½ mile
747
Businesses Nearby
Explore this area
Business Placement
Demographics for 33991, FL
26,381
Population
11,563
Households
2.3
Avg Household Size
45
Median Age
25%
College-Educated
94%
High-School Grad
12.8 sq mi
ZIP Area
2,061
Density / Sq Mi
$82,927
Median Household Income
$41,773
Median Earnings
$1,914
Median Rent
$351,100
Median Home Value
Market
Vacancy Rate% for Office in South region
Questions? Ask Rey
Realmo’s AI knows this listing — price, zoning, demand, history. Ask anything.
Frequently Asked Questions
What type of property is this?
Office building - 2019-built property with a private office, fitness facility, outdoor courts, and solar infrastructure.
Where is this office building located?
The property is located at 326 SW 2nd Terrace Cape Coral, FL.
What is the asking price?
The asking price for this property is $2,950,000.
What are key features of this property?
This property features: 8,550 SF concrete block building on 2.3 acres; Constructed in 2019 and maintained in excellent condition; Southern 7,350+/- SF section occupied by a fitness training facility
