Remodeled Medical Office
For Sale
$1,699,000
68 72 76 Pondella Road, North Fort Myers, FL 33903
COMMERCIAL - North Fort Myers, FL
Property Size7,816 SF
Lot Size1.62 Acres
Price / SF$217.37
Days on Market165
Property Features for 68 72 76 Pondella Road
General Information
Property type
Commercial Sale
Property subtype
Office
Zoning description
C-2
Directions
From US-41 (Cleveland Avenue), head west on Pondella Road toward Cape Coral. Continue approximately one mile; the property is located on the left (south) side between River Road and Moody Road. For an alternate approach, take Business 41 to Pondella Road eastbound, then turn right onto River Road for safe and easy access to the rear entrance of the complex. The site sits just minutes from Cape Coral Hospital, downtown Fort Myers, and surrounding medical and professional services. Prominent signage and open parking areas make the complex easily identifiable from either direction on Pondella Road.
Subdivision
FN06 - North Fort Myers Area
Standard status
Active
APN
02-44-24-03-0000A.0380
Lot size
1.62 Acres
Taxes and HOA fees
Tax Year
2025
Tax Description
KANTZ TOWN OF BLK A PB 1 PG 19 OR 1368/2335 PT LTS 38+40 + VAV ST ADJ
Tax Annual Amount
16205
Legal Description
KANTZ TOWN OF BLK A PB 1 PG 19 OR 1368/2335 PT LTS 38+40 + VAV ST ADJ
Amenities
private entrances
restrooms
individual utilities
Building Details
Year built
1977
Floors in Building
1
Listing Agency:
Sellstate Priority Realty
(239) 574-8888
Listed By:
Laurel Paula · License #258035784
(404) 944-2035
Added: Mar 18
Changed: Aug 19
Last Checked: Aug 29 at 11:06PM
MLS# 2026013330
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.
Pondella Professional Park comprises three concrete block buildings totaling 7,816 square feet on 1.622 acres. Interior remodeling is underway, with six suites designed for medical and professional office occupancy. Each suite includes a private entrance, restroom, and individual utilities, while interior finishes and layouts can be customized or selected from prepared floor models. ADA-compliant features are included throughout the suite configuration.
The property is located at 68, 72, and 76 Pondella Road in North Fort Myers, near US-41. The site records approximately 29,000 vehicles per day and provides ample parking. C-2 zoning supports medical, dental, therapy, and office uses identified for the property.
The property is located at 68, 72, and 76 Pondella Road in North Fort Myers, near US-41. The site records approximately 29,000 vehicles per day and provides ample parking. C-2 zoning supports medical, dental, therapy, and office uses identified for the property.
Key Highlights
- Three concrete block buildings totaling 7,816 square feet on 1.622 acres
- Six ADA‑compliant suites with private entrances and restrooms
- Individual utilities provided for each suite
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
Yes
Highway access
Yes
Paved road access
Yes
Utilities to site
Location Intelligence
Trade Area within ½ mile
794
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
Realmo’s AI knows this listing — price, zoning, demand, history. Ask anything.
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Frequently Asked Questions
What type of property is this?
Medical Office Space - Flexible medical office suites with private entrances, ADA-compliant features, and customizable interiors along Pondella Road.
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: Three concrete block buildings totaling 7,816 square feet on 1.622 acres; Six ADA‑compliant suites with private entrances and restrooms; Individual utilities provided for each suite
