Office/Flex Facility with
For Sale
Contact for pricing
621 Southwest Pine Island Road, Cape Coral, FL 33991
Office and warehouse buildings on a secured yard provide flexible space options with direct corridor frontage.
Property Size18,130 SF
Lot Size4.67 Acres
Price / SF$230
Days on Market68
Property Features for 621 Southwest Pine Island Road
General Information
Standard status
Active
Size
18,130 SF
Class
B
Lot size
4.67 Acres
Property subtype
Office, Special Purpose
Zoning
CC
Site & Location
Traffic Count
42,000 vehicles/day
Highway Access
Yes
Additional Details
Office Units
2
Building Details
Year Built
1990
Year Renovated
2015
Buildings
2
Listing Agency:
LSI Companies
(239) 565-3456
Listed By:
Alec Burke · License #FL SL3548362
Source:
Crexi
Added: Jun 8
Changed: Aug 8
Last Checked: Aug 11 at 6:08PM
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 LSI Companies
Investment Insights
Based on property information with market context.
This for-sale office/flex facility totals 18,130± square feet and is located on a 4.67± acre site. The property includes a 16,130± square foot office building plus a 2,000± square foot warehouse/storage building. Multiple building entry points and a separate rear entrance support flexible use and operations, including the ability to demising into two office suites. The asset is described as move-in ready and incorporates secured yard/parking along with air-conditioned storage or studio-type space.
The buildings are positioned with direct frontage on Pine Island Road, on a corridor identified as one of Cape Coral’s most active commercial routes. The property is also described as having convenient access to US-41 and Del Prado Blvd.
Designed for owner-users and flexible tenant concepts, the combination of office space and warehouse/storage supports a range of operational needs where staff space and storage are required on the same site. The secured parking and separate rear access can help streamline day-to-day workflows, while the option to configure the office portion for partial occupancy or multiple tenants may appeal to buyers seeking adaptable space for different users.
The buildings are positioned with direct frontage on Pine Island Road, on a corridor identified as one of Cape Coral’s most active commercial routes. The property is also described as having convenient access to US-41 and Del Prado Blvd.
Designed for owner-users and flexible tenant concepts, the combination of office space and warehouse/storage supports a range of operational needs where staff space and storage are required on the same site. The secured parking and separate rear access can help streamline day-to-day workflows, while the option to configure the office portion for partial occupancy or multiple tenants may appeal to buyers seeking adaptable space for different users.
Key Highlights
- 18,130± SF office/flex property on 4.67± acres, built in 1990
- Includes 16,130± SF office building plus 2,000± SF warehouse/storage building
- Direct frontage on Pine Island Road (AADT: 42,000) with access to US‑41 and Del Prado Blvd
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
$256,585
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
6.15%
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%
$5,131,700
$5.1M
Cap Rate 7%
$3,665,500
$3.7M
Cap Rate 9%
$2,850,944
$2.9M
Market Conditions
NOI Build-Up for 18,130 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
$402.5K $22.20/SF
− Vacancy
−$60.4K −$3.33/SF
EGI
$342.1K $18.87/SF
− OpEx
−$85.5K −$4.72/SF
NOI
$256.6K $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%
$5,131,700
Cap Rate 7%
$3,665,500
Cap Rate 9%
$2,850,944
Alternative Uses
Best Use
Office B
$3.67M
$3.21M – $4.28M
NOI $256,585 @ 7.0% cap · market cap 6.15%
Second Best
Flex RnD
$2.83M
$2.48M – $3.31M
NOI $198,333 @ 7.0% cap · market cap 4.76%
Theoretical Best
Office A
$4.70M
$4.12M – $5.49M
NOI $329,299 @ 7.0% cap · market cap 7.90%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
2
Office units
42,000 VPD
Traffic count
Yes
Highway access
Location Intelligence
Trade Area within ½ mile
446
Businesses Nearby
Under-served
Demand for This Use
Explore this area
Business Placement
Demographics for 33991, FL
26,381
Population
11,563
Households
2.3
Avg Household Size
45
Median Age
25%
College-Educated
94%
High-School Grad
12.8 sq mi
ZIP Area
2,061
Density / Sq Mi
$82,927
Median Household Income
$41,773
Median Earnings
$1,914
Median Rent
$351,100
Median Home Value
Market
Vacancy Rate% for Office in South region
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Frequently Asked Questions
What type of property is this?
Flex space - Office and warehouse buildings on a secured yard provide flexible space options with direct corridor frontage.
Where is this flex space located?
The property is located at 621 Southwest Pine Island Road Cape Coral, FL.
What is the asking price?
The asking price for this property is $4,169,900.
What are key features of this property?
This property features: 18,130± SF office/flex property on 4.67± acres, built in 1990; Includes 16,130± SF office building plus 2,000± SF warehouse/storage building; Direct frontage on Pine Island Road (AADT: 42,000) with access to US‑41 and Del Prado Blvd
