Seven-Unit Medical Office
For Sale
Contact for pricing
3615 Central Ave, Fort Myers, FL 33901
CG-zoned facility with flexible suites, substantial parking, a new roof, and a recently resurfaced parking lot.
Property Size19,313 SF
Price / SF$155.34
Days on Market8
Property Features for 3615 Central Ave
General Information
Standard status
Active
Size
19,313 SF
Property subtype
Office
Zoning
CG
Property Condition
Severity
Repairs Needed
Evidence
interior renovations
Site & Location
Highway Access
Yes
Road Access
Yes
Additional Details
Office Units
7
Building Details
Parking Ratio
6 per 1,000 SF
Listing Agency:
SVN | Commercial Partners
Listed By:
Ashley Bloom · License #FL BK3231913
(941) 961-7109
Source:
Crexi
Added: Sep 11
Changed: Sep 16
Last Checked: Sep 16 at 2:50PM
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 SVN | Commercial Partners
Investment Insights
Based on property information with market context.
Silver Oak Center is a 19,313+-square-foot medical office property with seven units and a configuration designed for healthcare occupancy. CG zoning supports the existing medical office use, while the flexible layout may accommodate other high-density commercial applications identified in the property information. Building improvements include a new roof and a recently resurfaced parking lot, with approximately six parking spaces per 1,000 square feet.
The property is located at 3615 Central Ave in Fort Myers, with access to Fowler St, Winkler Ave, Cleveland Ave (US 41), and Colonial Blvd. Its position provides routes toward Cape Coral, North Fort Myers, South Fort Myers, nearby beach communities, Estero, Bonita Springs, and Naples. An upcoming Lee Health Fort Myers campus near Colonial Blvd and Winkler Ave is anticipated to open in phases beginning in early 2028.
The property is located at 3615 Central Ave in Fort Myers, with access to Fowler St, Winkler Ave, Cleveland Ave (US 41), and Colonial Blvd. Its position provides routes toward Cape Coral, North Fort Myers, South Fort Myers, nearby beach communities, Estero, Bonita Springs, and Naples. An upcoming Lee Health Fort Myers campus near Colonial Blvd and Winkler Ave is anticipated to open in phases beginning in early 2028.
Key Highlights
- 19,313+-square‑foot property with seven units
- Originally designed for medical office occupancy
- CG zoning with flexible commercial configuration
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
$241,745
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
8.06%
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%
$4,834,900
$4.8M
Cap Rate 7%
$3,453,500
$3.5M
Cap Rate 9%
$2,686,056
$2.7M
Market Conditions
NOI Build-Up for 19,313 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
$440.3K $22.80/SF
− Vacancy
−$37.4K −$1.94/SF
EGI
$402.9K $20.86/SF
− OpEx
−$161.2K −$8.34/SF
NOI
$241.7K $12.52/SF
Area
Lee County, FL
Vacancy
8.50%
Lease Rate
$22.80 /SF/Yr
Expense Ratio
40.00%
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%
$4,834,900
Cap Rate 7%
$3,453,500
Cap Rate 9%
$2,686,056
Alternative Uses
Best Use
Office B
$4.74M
$4.15M – $5.53M
NOI $331,893 @ 7.0% cap · market cap 11.06%
Second Best
Healthcare Medical
$3.45M
$3.02M – $4.03M
NOI $241,745 @ 7.0% cap · market cap 8.06%
Theoretical Best
Office A
$6.08M
$5.32M – $7.09M
NOI $425,504 @ 7.0% cap · market cap 14.18%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
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Open Analytics
Current Use
Lease Details
7
Office units
Yes
Highway access
Yes
Paved road access
Location Intelligence
Trade Area within ½ mile
1,793
Businesses Nearby
Under-served
Demand for This Use
Explore this area
Business Placement
Demographics for 33901, FL
22,629
Population
11,709
Households
1.9
Avg Household Size
43
Median Age
29%
College-Educated
83%
High-School Grad
6.2 sq mi
ZIP Area
3,650
Density / Sq Mi
$51,579
Median Household Income
$37,233
Median Earnings
$1,291
Median Rent
$280,400
Median Home Value
Check the figures for this property
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?
Medical Office Space - CG-zoned facility with flexible suites, substantial parking, a new roof, and a recently resurfaced parking lot.
Where is this medical office space located?
The property is located at 3615 Central Ave Fort Myers, FL.
What is the asking price?
The asking price for this property is $3,000,000.
What are key features of this property?
This property features: 19,313+-square‑foot property with seven units; Originally designed for medical office occupancy; CG zoning with flexible commercial configuration
