Island Office/Retail Building For
For Sale
Contact for pricing
10191 Stringfellow Road, St James City, FL 33956
Office/retail building in the heart of Pine Island, Florida.
Property Size4,947 SF
Price / SF$282
Days on Market864
Property Features for 10191 Stringfellow Road
General Information
Standard status
Active
Size
4,947 SF
Property subtype
Special Purpose, Land
Listing Agency:
CENTURY 21 SUNBELT REALTY
Listed By:
Michael Shevlin · License #FL
(239) 851-1727
Source:
Crexi
Added: Apr 27, 2024
Changed: Sep 5
Last Checked: Sep 7 at 9:34AM
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 CENTURY 21 SUNBELT REALTY
Investment Insights
Based on property information with market context.
Located in the heart of Pine Island, Florida, this office/retail building offers a total of 4,947 square feet. Constructed in 2006 with CBS materials, the property features city water and sewer services, along with ample parking. The building is currently configured into three rental units. Pine Island is known for its fishing industry, tropical fruit and palm groves, and its Old Florida Island lifestyle. Thousands of acres are preserved in their natural state. The property is situated near Cape Coral and Fort Myers, in the central commercial area. Possible owner financing is available.
Key Highlights
- Possible owner financing available.
- Located in the heart of Pine Island's commercial area.
- 4,947 sq ft building with 3 rental units.**
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
$85,014
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
6.07%
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%
$1,700,280
$1.7M
Cap Rate 7%
$1,214,486
$1.2M
Cap Rate 9%
$944,600
$944.6K
Market Conditions
NOI Build-Up for 4,947 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
$123.5K $24.96/SF
− Vacancy
−$10.1K −$2.05/SF
EGI
$113.4K $22.91/SF
− OpEx
−$28.3K −$5.73/SF
NOI
$85.0K $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%
$1,700,280
Cap Rate 7%
$1,214,486
Cap Rate 9%
$944,600
Alternative Uses
Best Use
Office B
$1.21M
$1.06M – $1.42M
NOI $85,014 @ 7.0% cap · market cap 6.07%
Second Best
Retail
$927.1K
$811.2K – $1.08M
NOI $64,896 @ 7.0% cap · market cap 4.64%
Theoretical Best
Office A
$1.56M
$1.36M – $1.82M
NOI $108,992 @ 7.0% cap · market cap 7.79%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Location Intelligence
Trade Area within ½ mile
319
Businesses Nearby
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 Office in South region
Questions? Ask Rey
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Frequently Asked Questions
What type of property is this?
Office building - Office/retail building in the heart of Pine Island, Florida.
Where is this office building located?
The property is located at 10191 Stringfellow Road St James City, FL.
What is the asking price?
The asking price for this property is $1,400,000.
What are key features of this property?
This property features: Possible owner financing available.; Located in the heart of Pine Island's commercial area.; 4,947 sq ft building with 3 rental units.**
