Waterfront Mixed-Use
New
For Sale
$625,000
3269 Stringfellow Rd, St James City, FL 33956
Office and shop space adjoins a two-bedroom apartment, with a detached garage and canal access.
Property Size1,334 SF
Lot Size0.30 Acres
Days on Market2
Property Features for 3269 Stringfellow Rd
General Information
Standard status
Active
Size
1,334 SF
Lot size
0.30 Acres
Property subtype
Commercial
Zoning
C-1
Taxes and HOA fees
Annual Taxes
$6,426
Amenities
tile flooring
1/2 bath
ample parking
detached 2-car garage
additional shop/storage space
spacious backyard
seawall
boat basin
direct salt water access
Building Details
Building Size
1,334 SF
Year Built
1968
Stories
1
Listing Agency:
Century 21 Sunbelt Realty
Listed By:
Michael Shevlin · License #258000296
(239) 851-1727
Source:
Elliman
Added: Sep 24
Last Checked: Sep 24 at 2:25PM
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 Century 21 Sunbelt Realty
Investment Insights
Based on property information with market context.
This C-1-zoned mixed-use property combines office and shop space with a two-bedroom, one-bath apartment. The commercial area has tile flooring, a half bath and parking. At the rear, the apartment includes an open living area, an equipped kitchen and sliding glass doors facing the canal. A detached two-car garage provides additional shop and storage space. The property was built in 1968.
The 100-by-130-foot waterfront lot includes a seawall, a backyard and half of a boat basin, with direct saltwater access to the Gulf.
The 100-by-130-foot waterfront lot includes a seawall, a backyard and half of a boat basin, with direct saltwater access to the Gulf.
Key Highlights
- C‑1 zoning on a 100' x 130' waterfront lot
- Office/shop area with tile flooring, a half bath and parking
- Rear apartment includes 2 bedrooms, 1 bath, an open living area and equipped kitchen
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
$22,925
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
3.67%
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%
$458,500
$458.5K
Cap Rate 7%
$327,500
$327.5K
Cap Rate 9%
$254,722
$254.7K
Market Conditions
NOI Build-Up for 1,334 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
$33.3K $24.96/SF
− Vacancy
−$2.7K −$2.05/SF
EGI
$30.6K $22.91/SF
− OpEx
−$7.6K −$5.73/SF
NOI
$22.9K $17.18/SF
Area
Lee County, FL
Vacancy
8.20%
Lease Rate
$24.96 /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%
$458,500
Cap Rate 7%
$327,500
Cap Rate 9%
$254,722
Alternative Uses
Best Use
Office B
$327.5K
$286.6K – $382.1K
NOI $22,925 @ 7.0% cap · market cap 3.67%
Second Best
Mixed Use
$235.1K
$205.7K – $274.3K
NOI $16,458 @ 7.0% cap · market cap 2.63%
Theoretical Best
Office A
$419.9K
$367.4K – $489.9K
NOI $29,391 @ 7.0% cap · market cap 4.70%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Unlock full access to Insights
Subscribe to Realmo Intelligence
Open Analytics
Current Use
Location Intelligence
Trade Area within ½ mile
91
Businesses Nearby
Explore this area
Business Placement
Demographics for 33956, FL
3,861
Population
3,600
Households
1.1
Avg Household Size
66
Median Age
24%
College-Educated
93%
High-School Grad
16.3 sq mi
ZIP Area
237
Density / Sq Mi
$64,539
Median Household Income
$31,701
Median Earnings
$2,259
Median Rent
$284,800
Median Home Value
Check the figures for this property
Cap Rate, Value Estimation, Potential NOI and more
View Realmo Analytics
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?
Mixed-use property - Office and shop space adjoins a two-bedroom apartment, with a detached garage and canal access.
Where is this mixed-use property located?
The property is located at 3269 Stringfellow Rd St James City, FL.
What is the asking price?
The asking price for this property is $625,000.
What are key features of this property?
This property features: C‑1 zoning on a 100' x 130' waterfront lot; Office/shop area with tile flooring, a half bath and parking; Rear apartment includes 2 bedrooms, 1 bath, an open living area and equipped kitchen
