Mixed-Use Building with
For Sale
$1,295,000
5261 Pine Island Rd, Bokeelia, FL 33922
Remodeled office and retail units with supplemental storage structures and commercial zoning on Pine Island.
Property Size5,184 SF
Lot Size0.62 Acres
Price / SF$249.81
Days on Market302
Property Features for 5261 Pine Island Rd
General Information
Standard status
Active
Size
5,184 SF
Lot size
0.62 Acres
Property subtype
Commercial
Zoning
CC
Occupancy
50%
Additional Details
Utilities to Site
Yes
Office Units
6
Building Details
Year Built
1979
Buildings
1
Construction
concrete block and stucco
Tenancy
Multi
Listing Agency:
Century 21 Sunbelt Realty
(239) 851-1727
Listed By:
Michael Shevlin · License #258000296
Source:
Naplespropertyguide
Added: Nov 1, 2025
Changed: Aug 28
Last Checked: Aug 25 at 7:22AM
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 1979 mixed-use property contains six office and retail units, each measuring 784 SF, within a concrete block and stucco building. Interiors were remodeled following Hurricane Ian with updated flooring, walls, and ceilings. The property includes five new A/C units, a metal roof, storm shutters, septic service with a lift station, and county water. Three units are currently leased.
Additional improvements include two separate wood-frame storage buildings measuring 480 SF and 420 SF, plus a 1,800 SF wood barn. The site covers 27,054 SF and is positioned across from a recently completed Publix shopping center at 5261 Pine Island Rd in Bokeelia, Florida. CC zoning supports a range of commercial uses.
Additional improvements include two separate wood-frame storage buildings measuring 480 SF and 420 SF, plus a 1,800 SF wood barn. The site covers 27,054 SF and is positioned across from a recently completed Publix shopping center at 5261 Pine Island Rd in Bokeelia, Florida. CC zoning supports a range of commercial uses.
Key Highlights
- Six office and retail units, each containing 784 SF
- Interiors remodeled after Hurricane Ian; three units are currently leased
- Five new A/C units, metal roof, storm shutters, septic with lift station, and county water
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
$89,087
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
6.88%
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%
$1,781,740
$1.8M
Cap Rate 7%
$1,272,671
$1.3M
Cap Rate 9%
$989,856
$989.9K
Market Conditions
NOI Build-Up for 5,184 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
$129.4K $24.96/SF
− Vacancy
−$10.6K −$2.05/SF
EGI
$118.8K $22.91/SF
− OpEx
−$29.7K −$5.73/SF
NOI
$89.1K $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%
$1,781,740
Cap Rate 7%
$1,272,671
Cap Rate 9%
$989,856
Alternative Uses
Best Use
Office B
$1.27M
$1.11M – $1.48M
NOI $89,087 @ 7.0% cap · market cap 6.88%
Second Best
Retail
$971.5K
$850.1K – $1.13M
NOI $68,005 @ 7.0% cap · market cap 5.25%
Theoretical Best
Office A
$1.63M
$1.43M – $1.90M
NOI $114,214 @ 7.0% cap · market cap 8.82%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
6
Office units
50%
Occupancy
Multi-tenant
Tenancy
Yes
Utilities to site
Location Intelligence
Trade Area within ½ mile
307
Businesses Nearby
Explore this area
Business Placement
Demographics for 33922, FL
4,326
Population
2,925
Households
1.5
Avg Household Size
59
Median Age
34%
College-Educated
87%
High-School Grad
20.9 sq mi
ZIP Area
207
Density / Sq Mi
$68,579
Median Household Income
$34,503
Median Earnings
$1,110
Median Rent
$330,100
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?
Mixed-use property - Remodeled office and retail units with supplemental storage structures and commercial zoning on Pine Island.
Where is this mixed-use property located?
The property is located at 5261 Pine Island Rd Bokeelia, FL.
What is the asking price?
The asking price for this property is $1,295,000.
What are key features of this property?
This property features: Six office and retail units, each containing 784 SF; Interiors remodeled after Hurricane Ian; three units are currently leased; Five new A/C units, metal roof, storm shutters, septic with lift station, and county water
