Modern Medical Office
For Sale
$1,699,000
68 72 76 Pondella Road, North Fort Myers, FL 33903
Concrete block medical office park with remodeled suites, private entrances, ADA restrooms, and individually metered utilities.
Property Size7,816 SF
Lot Size1.62 Acres
Price / SF$217.37
Days on Market170
Property Features for 68 72 76 Pondella Road
General Information
Standard status
Active
Size
7,816 SF
Lot size
1.62 Acres
Property subtype
Commercial
Zoning
C-2
Site & Location
Traffic Count
29,000 vehicles/day
Highway Access
Yes
Road Access
Yes
Additional Details
Office Units
6
Building Details
Year Built
1977
Tenancy
Multi
Listing Agency:
Sellstate Priority Realty
(404) 944-2035
Listed By:
Laurel Paula · License #258035784
(239) 984-8177
Source:
Johnrwood
Added: Mar 6
Changed: Aug 23
Last Checked: Aug 22 at 9:55AM
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 Sellstate Priority Realty
Investment Insights
Based on property information with market context.
Pondella Professional Park is being renovated with a complete interior remodel to deliver brand-new, modern medical office spaces. The property includes three concrete block buildings totaling 7,816 square feet on 1.622 acres, with each building offering two ADA-compliant suites. Suites feature private entrances and restrooms, along with individual utilities. Tenants and occupants may select their own interior finishes and layouts, or choose from professionally designed floor models for review.
The site is located along Pondella Road near US-41, with approximately 29,000 vehicles per day, ample parking, and strong visibility. Zoned C-2, the property is positioned for medical, dental, therapy, and office users seeking flexible, high-exposure space in a North Fort Myers corridor.
The site is located along Pondella Road near US-41, with approximately 29,000 vehicles per day, ample parking, and strong visibility. Zoned C-2, the property is positioned for medical, dental, therapy, and office users seeking flexible, high-exposure space in a North Fort Myers corridor.
Key Highlights
- Pondella Professional Park includes three concrete block medical office buildings totaling 7,816 SF on 1.622 acres (built 1977).
- Each building offers two ADA‑compliant suites with private entrances and ADA restrooms.
- Suites have individual utilities (independently metered).
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
$134,318
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
7.91%
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%
$2,686,360
$2.7M
Cap Rate 7%
$1,918,829
$1.9M
Cap Rate 9%
$1,492,422
$1.5M
Market Conditions
NOI Build-Up for 7,816 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
$195.1K $24.96/SF
− Vacancy
−$16.0K −$2.05/SF
EGI
$179.1K $22.91/SF
− OpEx
−$44.8K −$5.73/SF
NOI
$134.3K $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%
$2,686,360
Cap Rate 7%
$1,918,829
Cap Rate 9%
$1,492,422
Alternative Uses
Best Use
Office B
$1.92M
$1.68M – $2.24M
NOI $134,318 @ 7.0% cap · market cap 7.91%
Second Best
Healthcare Medical
$1.40M
$1.22M – $1.63M
NOI $97,834 @ 7.0% cap · market cap 5.76%
Theoretical Best
Office A
$2.46M
$2.15M – $2.87M
NOI $172,202 @ 7.0% cap · market cap 10.14%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
6
Office units
29,000 VPD
Traffic count
Multi-tenant
Tenancy
Yes
Highway access
Yes
Paved road access
Location Intelligence
Trade Area within ½ mile
841
Businesses Nearby
Balanced
Demand for This Use
Explore this area
Business Placement
Demographics for 33903, FL
23,294
Population
15,400
Households
1.5
Avg Household Size
61
Median Age
24%
College-Educated
89%
High-School Grad
11.3 sq mi
ZIP Area
2,061
Density / Sq Mi
$56,317
Median Household Income
$32,452
Median Earnings
$1,152
Median Rent
$135,400
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?
Medical Office Space - Concrete block medical office park with remodeled suites, private entrances, ADA restrooms, and individually metered utilities.
Where is this medical office space located?
The property is located at 68 72 76 Pondella Road North Fort Myers, FL.
What is the asking price?
The asking price for this property is $1,699,000.
What are key features of this property?
This property features: Pondella Professional Park includes three concrete block medical office buildings totaling 7,816 SF on 1.622 acres (built 1977).; Each building offers two ADA‑compliant suites with private entrances and ADA restrooms.; Suites have individual utilities (independently metered).
