Pine Island Investment
For Sale
$1,295,000
5261 Pine Island Rd Nw, Bokeelia, FL 33922
Six-unit office/retail building near Publix shopping center.
Property Size5,184 SF
Lot Size0.62 Acres
Price / SF$249.81
Days on Market230
Property Features for 5261 Pine Island Rd Nw
General Information
Standard status
Active
Size
5,184 SF
Lot size
0.62 Acres
Taxes and HOA fees
Annual Taxes
$8,253
Listing Agency:
century 21 sunbelt realty
(239) 851-1727
Listed By:
Michael Shevlin · License #258000296
(239) 851-1727
Source:
Exprealty
Added: Jan 8
Changed: Aug 20
Last Checked: Aug 26 at 12:59PM
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 six-unit concrete block and stucco building is located on Pine Island, Florida, across from a recently completed Publix shopping center. Each unit has been remodeled after Hurricane Ian with new flooring, walls, and ceilings. The building features five new A/C units and a metal roof, as well as storm shutters, a septic system with a lift station, and county water. Each unit contains 784 square feet. Currently, three of the units are leased at $1,250 per unit per month, resulting in a rental rate of $19.13 per square foot per year on a gross basis. To the rear of the site are two separate wood frame storage areas, one containing 480 square feet and the other containing 420 square feet. There is also a separate wood barn structure containing 1,800 square feet. The site encompasses 27,054 square feet. The current coverage ratio suggests the possibility of surplus land for expansion. The CC zoning allows for many commercial uses.
Key Highlights
- Investment property featuring 6 remodeled office/retail units in a durable concrete block and stucco building.
- Prime location across from the recently completed Publix shopping center on Pine Island, FL.
- Currently, three units are leased at $1,250 per unit per month.
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
Location Intelligence
Trade Area within ½ mile
307
Businesses Nearby
Well-served
Demand for This Use
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
Realmo’s AI knows this listing — price, zoning, demand, history. Ask anything.
Frequently Asked Questions
What type of property is this?
Storefront property - Six-unit office/retail building near Publix shopping center.
Where is this storefront property located?
The property is located at 5261 Pine Island Rd Nw 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: Investment property featuring 6 remodeled office/retail units in a durable concrete block and stucco building.; Prime location across from the recently completed Publix shopping center on Pine Island, FL.; Currently, three units are leased at $1,250 per unit per month.
