Industrial Flex Condominium
For Sale
$379,000
12960 Commerce Lakes Drive, Fort Myers, FL 33913
CommercialSale, Fort Myers, FL
Property Size1,475 SF
Lot Size1.13 Acres
Price / SF$256.95
Days on Market62
Property Features for 12960 Commerce Lakes Drive
General Information
Property type
Commercial Sale
Property subtype
Office
Directions
From I-75, Travel East on Daniels Parkway from I-75 for approximately 4 miles, turn north (left) onto Commerce Lakes Drive. Property will be on your left.
Subdivision
GA01 - Gateway
Standard status
Active
APN
18-45-26-33-0000A.0A26
Lot size
1.13 Acres
Taxes and HOA fees
Tax Year
2025
Tax Description
DANIELS INDUSTRIAL CONDOMINIUM DESC IN INST#2007000266010 BLDG A UNIT A26
Tax Annual Amount
4299
Legal Description
DANIELS INDUSTRIAL CONDOMINIUM DESC IN INST#2007000266010 BLDG A UNIT A26
Building Details
Year built
2007
Floors in Building
1
Listing Agency:
Phil Deems Real Estate
(239) 945-4545
Listed By:
Philip A Deems · License #258033389
(239) 478-0056
Added: Jul 6
Changed: Aug 24
Last Checked: Sep 5 at 9:06AM
MLS# 2026029042
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.
This one-story industrial flex condominium contains 1,475 SF with a functional division between finished office and warehouse areas. The approximately 355 SF office and reception component includes tile flooring, air conditioning, and a half-bath, while the approximately 1,120 SF warehouse provides an 18-foot clear height. A 10' x 14' electric roll-up door supports loading access. Concrete tilt-up construction, hurricane-impact glazing, and central HVAC contribute to the building’s physical configuration, with the A/C unit replaced in 2021. The property was built in 2007 and includes 3-phase electrical service rated at approximately 225 amps and 208/120 volts.
Located in Worthington Park of Commerce in the Gateway area, the unit sits off Daniels Parkway with access to I-75, Southwest Florida International Airport, and regional transportation corridors. The space is suited to light industrial, warehousing, showroom, contractor, or professional office use.
Located in Worthington Park of Commerce in the Gateway area, the unit sits off Daniels Parkway with access to I-75, Southwest Florida International Airport, and regional transportation corridors. The space is suited to light industrial, warehousing, showroom, contractor, or professional office use.
Key Highlights
- 1,475 SF industrial/flex condominium unit in Worthington Park of Commerce
- Approximately 355 SF of office/reception space and 1,120 SF of warehouse area
- 18' clear warehouse ceiling height with one 10' x 14' electric roll‑up door
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
$25,348
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
6.69%
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%
$506,960
$507.0K
Cap Rate 7%
$362,114
$362.1K
Cap Rate 9%
$281,644
$281.6K
Market Conditions
NOI Build-Up for 1,475 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
$36.8K $24.96/SF
− Vacancy
−$3.0K −$2.05/SF
EGI
$33.8K $22.91/SF
− OpEx
−$8.4K −$5.73/SF
NOI
$25.3K $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%
$506,960
Cap Rate 7%
$362,114
Cap Rate 9%
$281,644
Alternative Uses
Best Use
Office B
$362.1K
$316.9K – $422.5K
NOI $25,348 @ 7.0% cap · market cap 6.69%
Second Best
Flex RnD
$230.5K
$201.7K – $268.9K
NOI $16,136 @ 7.0% cap · market cap 4.26%
Theoretical Best
Office A
$464.2K
$406.2K – $541.6K
NOI $32,497 @ 7.0% cap · market cap 8.57%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
18 ft
Clear height
Yes
Highway access
Yes
Utilities to site
Location Intelligence
Trade Area within ½ mile
333
Businesses Nearby
Balanced
Demand for This Use
Explore this area
Business Placement
Demographics for 33913, FL
28,216
Population
16,026
Households
1.8
Avg Household Size
54
Median Age
47%
College-Educated
95%
High-School Grad
101.0 sq mi
ZIP Area
279
Density / Sq Mi
$106,925
Median Household Income
$54,341
Median Earnings
$1,914
Median Rent
$439,200
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?
Flex space - Versatile single-story condominium combining finished office space with warehouse capacity and commercial-grade electrical service.
Where is this flex space located?
The property is located at 12960 Commerce Lakes Drive Fort Myers, FL.
What is the asking price?
The asking price for this property is $379,000.
What are key features of this property?
This property features: 1,475 SF industrial/flex condominium unit in Worthington Park of Commerce; Approximately 355 SF of office/reception space and 1,120 SF of warehouse area; 18' clear warehouse ceiling height with one 10' x 14' electric roll‑up door
