Concrete Block Industrial
For Sale
$1,435,000
870 Buttonwood Dr, Fort Myers Beach, FL 33931
Concrete block industrial building on multiple lots, zoned C-2, offered for sale with beach-area access.
Property Size7,000 SF
Lot Size1.16 Acres
Price / SF$205
Days on Market202
Property Features for 870 Buttonwood Dr
General Information
Standard status
Active
Size
7,000 SF
Lot size
1.16 Acres
Property subtype
Commercial
Zoning
C-2
Building Details
Year Built
1979
Listing Agency:
Florida's Realty LLC
Listed By:
Holly Olson · License #258019518
(239) 823-0143
Source:
Napleshomesearches
Added: Feb 25
Changed: Sep 9
Last Checked: Sep 14 at 11:57AM
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 Florida's Realty LLC
Investment Insights
Based on property information with market context.
This for-sale industrial property features an over 7,000-square-foot concrete block building and a land area of 1.160 acres. The site consists of three lots with multiple zoning classifications, and the property is described as zoned C-2. The building was home to The Sanibel Seafood Company since 1982, operating as a wholesale and retail seafood distribution business.
Located at 870 Buttonwood Drive on San Carlos island, the property is described as having access to the Ft Myers Beach bridge at less than a half mile, with the remarks noting convenience to Ft Myers compared to Estero Island. The area is also described as being close to the new Margaritaville Resort and the New Beached Whale on Ft Myers Beach.
The seller indicates they would consider a land contract. The remarks also note that zoning in the area is described as fluid and that Lee County has been helpful in confirming whether the property fits an intended use.
Located at 870 Buttonwood Drive on San Carlos island, the property is described as having access to the Ft Myers Beach bridge at less than a half mile, with the remarks noting convenience to Ft Myers compared to Estero Island. The area is also described as being close to the new Margaritaville Resort and the New Beached Whale on Ft Myers Beach.
The seller indicates they would consider a land contract. The remarks also note that zoning in the area is described as fluid and that Lee County has been helpful in confirming whether the property fits an intended use.
Key Highlights
- 1.160‑acre site on San Carlos Island, zoned C‑2
- Over 7,000 SF concrete block building
- Property consists of three lots with multiple zoning classifications
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
$71,371
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
4.97%
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%
$1,427,420
$1.4M
Cap Rate 7%
$1,019,586
$1.0M
Cap Rate 9%
$793,011
$793.0K
Market Conditions
NOI Build-Up for 7,000 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
$88.2K $12.60/SF
− Vacancy
−$4.2K −$0.60/SF
EGI
$84.0K $12.00/SF
− OpEx
−$12.6K −$1.80/SF
NOI
$71.4K $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%
$1,427,420
Cap Rate 7%
$1,019,586
Cap Rate 9%
$793,011
Alternative Uses
Best Use
Warehouse
$1.02M
$892.1K – $1.19M
NOI $71,371 @ 7.0% cap · market cap 4.97%
Second Best
Industrial
$912.9K
$798.8K – $1.07M
NOI $63,901 @ 7.0% cap · market cap 4.45%
Theoretical Best
Office A
$2.20M
$1.93M – $2.57M
NOI $154,224 @ 7.0% cap · market cap 10.75%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
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Open Analytics
Current Use
Location Intelligence
Trade Area within ½ mile
345
Businesses Nearby
Explore this area
Business Placement
Demographics for 33931, FL
9,389
Population
14,561
Households
0.6
Avg Household Size
68
Median Age
37%
College-Educated
97%
High-School Grad
10.3 sq mi
ZIP Area
912
Density / Sq Mi
$80,438
Median Household Income
$38,723
Median Earnings
$1,500
Median Rent
$475,100
Median Home Value
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Market
Vacancy Rate% for Industrial in South region
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Frequently Asked Questions
What type of property is this?
Distribution center - Concrete block industrial building on multiple lots, zoned C-2, offered for sale with beach-area access.
Where is this distribution center located?
The property is located at 870 Buttonwood Dr Fort Myers Beach, FL.
What is the asking price?
The asking price for this property is $1,435,000.
What are key features of this property?
This property features: 1.160‑acre site on San Carlos Island, zoned C‑2; Over 7,000 SF concrete block building; Property consists of three lots with multiple zoning classifications
