Building Details

Year built 1989

Floors in Building 1

Listing Agency: Phil Deems Real Estate Show Phone

Listed By: Phil Deems · License #252010067 Show Phone

Added: Sep 28 Last Checked: Sep 29 at 1:06AM

Report an Issue

MLS# 2026039939

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.

The 7,360-square-foot warehouse sits on 1.23 acres and is divided into eight bays by concrete walls. Built in 1989, the property has a rubber membrane roof and HVAC systems installed in 2023. Fencing encloses the site.

Four tenants occupy the building, which is fully leased.

Key Highlights

• 7,360‑square‑foot warehouse on 1.23 acres
• Eight bays divided by concrete walls
• Fully leased to 4 tenants

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

$75,042

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

4.51%

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%

$1,500,840 $1.5M

Cap Rate 7%

$1,072,029 $1.1M

Cap Rate 9%

$833,800 $833.8K

Market Conditions

NOI Build-Up for 7,360 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

$92.7K $12.60/SF

− Vacancy

−$4.5K −$0.60/SF

EGI

$88.3K $12.00/SF

− OpEx

−$13.2K −$1.80/SF

NOI

$75.0K $10.20/SF

Area

Lee County, FL

Vacancy

4.80%

Lease Rate

$12.60 /SF/Yr

Expense Ratio

15.00%

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%

$1,500,840

Cap Rate 7%

$1,072,029

Cap Rate 9%

$833,800

Alternative Uses

Best Use

Warehouse

$1.07M

$938.0K – $1.25M (±1% cap)

NOI $75,042 @ 7.0% cap · market cap 4.51%

Second Best

—

—

no second resolved use

Theoretical Best

Office A

$2.32M

$2.03M – $2.70M (±1% cap)

NOI $162,156 @ 7.0% cap · market cap 9.74%

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

Warehouses

Suggested Use

Top Pick Auto Parts Store Furniture & Home Goods HVAC Service (Bike/Boat/Book/etc) Store Cafe & Coffee Shop Butcher

Score = modeled unmet demand for each use within ~1 mi (higher = bigger opportunity). Zoning and permitted uses should be independently verified with local authorities.

Lease Details

100%

Occupancy

Multi-tenant

Tenancy

Location Intelligence

Trade Area within ½ mile

320

Businesses Nearby

Well-served

Demand for This Use

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

Market

Vacancy Rate% for Industrial in South region

6% 2019

6.5% 2020

4% 2021

3.5% 2022

6% 2023

7.6% 2024

7.9% 2025

Questions? Ask Rey

Realmo’s AI knows this listing — price, zoning, demand, history. Ask anything.

What type of property is this? Where is this warehouses located? What is the asking price? Find similar properties What are key features of this property?

Similar For Sale Nearby

Waterfront Eight-Unit Resort

Saint James City, FL 33956

$1,649,000

View details

Two-Building Office Property

Saint James City, FL 33956

$1,775,000

2.79 Acres

View details

55+ Manufactured Housing and RV Park

2581 Oleander St, Saint James City, FL 33956

Contact for pricing

2.60 Acres

View details

Warehouse Unit with Overhead Door

Saint James City, FL 33956

Contact for pricing

1,350 SF

View details

Island Office/Retail Building For Sale

Saint James City, FL 33956

Contact for pricing

4,947 SF

View details

Newer Warehouse Unit For Sale

Saint James City, FL 33956

Contact for pricing

1,250 SF

View details

Similar Off Market Nearby

• Pine Island Storage — 5111 doug taylor cir, st james city, fl 33956
• 24/7 Store It — 5111 Doug Taylor Cir, St James City, FL 33956

Frequently Asked Questions

What type of property is this?

Warehouse - A fenced industrial property includes eight bays occupied by four tenants under full lease.

Where is this warehouse located?

The property is located at 5476 & 5576 Doug Taylor Circle Saint James City, FL.

What is the asking price?

The asking price for this property is $1,665,000.

What are key features of this property?

This property features: 7,360‑square‑foot warehouse on 1.23 acres; Eight bays divided by concrete walls; Fully leased to 4 tenants