Flex Space Building with Alley-Access Overhead
For Sale
$1,150,000
4529 Del Prado Boulevard S, Cape Coral, FL 33904
SINGLE_FAMILY - Cape Coral, FL
Property Size3,840 SF
Lot Size0.15 Acres
Price / SF$299.48
Days on Market101
Property Features for 4529 Del Prado Boulevard S
General Information
Property type
Residential
Property subtype
Office
Zoning description
SC
Subdivision
CC12 - Cape Coral Unit 7-15
Standard status
Active
APN
07-45-24-C3-00396.0290
Lot size
0.15 Acres
Taxes and HOA fees
Tax Year
2025
Tax Description
CAPE CORAL U 7 BLK 396 PB 12 PG 120 PT LOT 28 + 29 DESC IN OR 2957 PG 3312
Tax Annual Amount
7291
Legal Description
CAPE CORAL U 7 BLK 396 PB 12 PG 120 PT LOT 28 + 29 DESC IN OR 2957 PG 3312
Building Details
Year built
1973
Floors in Building
1
Listing Agency:
Professional Realty
(239) 772-1010
Listed By:
Jack Britton · License #252000141
(239) 851-2090
Added: May 5
Changed: Jul 29
Last Checked: Aug 13 at 1:06PM
MLS# 2026020507
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 flex space building totals 3,840 SF and is currently operated as a single unit, with the ability to be used as two units. The layout includes showroom space up front with office and warehouse space in the rear. Both warehouse areas have overhead doors with alley access.
The property is on a 6,600 SF site adjoining a neighboring strip center, on a very busy section of Del Prado Boulevard South with high visibility pylon signage. Construction dates to 1973, and the property is described as in good condition with a newer TPO roof and one newer AC unit. Parking includes 4 spaces in the front plus common area parking.
Zoned SC (South Cape), the building is positioned for a flexible range of uses. It can serve an owner-occupant who occupies one unit and leases the other, or an investor seeking rental income. The property currently has a flooring company tenant on a month-to-month basis that would like to stay.
The property is on a 6,600 SF site adjoining a neighboring strip center, on a very busy section of Del Prado Boulevard South with high visibility pylon signage. Construction dates to 1973, and the property is described as in good condition with a newer TPO roof and one newer AC unit. Parking includes 4 spaces in the front plus common area parking.
Zoned SC (South Cape), the building is positioned for a flexible range of uses. It can serve an owner-occupant who occupies one unit and leases the other, or an investor seeking rental income. The property currently has a flooring company tenant on a month-to-month basis that would like to stay.
Key Highlights
- 3,840 SF flex retail, office, and warehouse building currently configured as one unit, convertible to two units
- Rear warehouse spaces each feature overhead doors with alley access
- 6,600 SF site adjoining a neighboring strip center
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
$54,346
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
4.73%
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%
$1,086,920
$1.1M
Cap Rate 7%
$776,371
$776.4K
Cap Rate 9%
$603,844
$603.8K
Market Conditions
NOI Build-Up for 3,840 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
$85.2K $22.20/SF
− Vacancy
−$12.8K −$3.33/SF
EGI
$72.5K $18.87/SF
− OpEx
−$18.1K −$4.72/SF
NOI
$54.3K $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%
$1,086,920
Cap Rate 7%
$776,371
Cap Rate 9%
$603,844
Alternative Uses
Best Use
Office B
$776.4K
$679.3K – $905.8K
NOI $54,346 @ 7.0% cap · market cap 4.73%
Second Best
Flex RnD
$600.1K
$525.1K – $700.1K
NOI $42,008 @ 7.0% cap · market cap 3.65%
Theoretical Best
Office A
$996.4K
$871.8K – $1.16M
NOI $69,747 @ 7.0% cap · market cap 6.06%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
2
Drive-in doors
Yes
Paved road access
Location Intelligence
Trade Area within ½ mile
755
Businesses Nearby
Under-served
Demand for This Use
Explore this area
Business Placement
Demographics for 33904, FL
32,029
Population
20,401
Households
1.6
Avg Household Size
56
Median Age
29%
College-Educated
95%
High-School Grad
9.7 sq mi
ZIP Area
3,302
Density / Sq Mi
$66,933
Median Household Income
$43,829
Median Earnings
$1,665
Median Rent
$347,100
Median Home Value
Market
Vacancy Rate% for Office in South region
Questions? Ask Rey
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Frequently Asked Questions
What type of property is this?
Flex space - Flex retail, office, and warehouse building can convert to two units with rear alley-access overhead doors and SC zoning.
Where is this flex space located?
The property is located at 4529 Del Prado Boulevard S Cape Coral, FL.
What is the asking price?
The asking price for this property is $1,150,000.
What are key features of this property?
This property features: 3,840 SF flex retail, office, and warehouse building currently configured as one unit, convertible to two units; Rear warehouse spaces each feature overhead doors with alley access; 6,600 SF site adjoining a neighboring strip center
