Flex Space Garage
For Sale
$559,000
16255 Pine Ridge Road, Fort Myers, FL 33908
CommercialSale, Fort Myers, FL
Property Size2,100 SF
Lot Size0.05 Acres
Price / SF$266.19
Days on Market95
Property Features for 16255 Pine Ridge Road
General Information
Property type
Commercial Sale
Property subtype
Other
Property condition
Under Construction
Subdivision
FM13 - Fort Myers Area
Standard status
Active
APN
05-46-24-L1-09000.4040
Lot size
0.05 Acres
Taxes and HOA fees
Tax Year
2025
Tax Description
SIGNATURE STORAGE SUITES
Tax Annual Amount
465
Legal Description
SIGNATURE STORAGE SUITES
Building Details
Year built
2026
Floors in Building
1
Listing Agency:
Royal Shell Real Estate, Inc.
(239) 472-0078
Listed By:
Michael McMurray · License #280500145
(239) 850-7888
Added: Jun 1
Changed: Aug 19
Last Checked: Sep 3 at 10:06PM
MLS# 2026024359
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 2,100-square-foot flex space garage condo is under construction and configured around broad, open interior volume. Soaring ceilings and oversized access doors support vehicle storage, lifts, workshops, boats, RVs, motorcycles, and recreational equipment. The space can also accommodate a custom second-floor mezzanine, lounge, sports bar, golf simulator, office, fitness area, or private clubhouse.
The property is located at 16255 Pine Ridge Road in Fort Myers, Florida 33908. Completed construction is identified for 2026. Its flexible format provides a dedicated setting for automotive storage, collectible vehicles, business operations, or a personalized recreation and entertainment space.
The property is located at 16255 Pine Ridge Road in Fort Myers, Florida 33908. Completed construction is identified for 2026. Its flexible format provides a dedicated setting for automotive storage, collectible vehicles, business operations, or a personalized recreation and entertainment space.
Key Highlights
- 2,100‑square‑foot flex space garage condo
- Under construction with completion identified for 2026
- Soaring ceilings and expansive open interior
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
$22,973
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
4.11%
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%
$459,460
$459.5K
Cap Rate 7%
$328,186
$328.2K
Cap Rate 9%
$255,256
$255.3K
Market Conditions
NOI Build-Up for 2,100 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
$37.8K $18.00/SF
− Vacancy
−$2.5K −$1.17/SF
EGI
$35.3K $16.83/SF
− OpEx
−$12.4K −$5.89/SF
NOI
$23.0K $10.94/SF
Area
Lee County, FL
Vacancy
6.50%
Lease Rate
$18.00 /SF/Yr
Expense Ratio
35.00%
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%
$459,460
Cap Rate 7%
$328,186
Cap Rate 9%
$255,256
Alternative Uses
Best Use
Flex RnD
$328.2K
$287.2K – $382.9K
NOI $22,973 @ 7.0% cap · market cap 4.11%
Second Best
Industrial
$273.9K
$239.6K – $319.5K
NOI $19,170 @ 7.0% cap · market cap 3.43%
Theoretical Best
Office A
$661.0K
$578.3K – $771.1K
NOI $46,267 @ 7.0% cap · market cap 8.28%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Location Intelligence
Trade Area within ½ mile
333
Businesses Nearby
Balanced
Demand for This Use
Explore this area
Business Placement
Demographics for 33908, FL
43,110
Population
32,067
Households
1.3
Avg Household Size
63
Median Age
44%
College-Educated
96%
High-School Grad
34.2 sq mi
ZIP Area
1,261
Density / Sq Mi
$74,711
Median Household Income
$50,063
Median Earnings
$1,829
Median Rent
$346,200
Median Home Value
Market
Vacancy Rate% for Industrial in South region
Questions? Ask Rey
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Frequently Asked Questions
What type of property is this?
Flex space - Under-construction unit with expansive volume, oversized access doors, and adaptable room for storage, workshops, or private amenities.
Where is this flex space located?
The property is located at 16255 Pine Ridge Road Fort Myers, FL.
What is the asking price?
The asking price for this property is $559,000.
What are key features of this property?
This property features: 2,100‑square‑foot flex space garage condo; Under construction with completion identified for 2026; Soaring ceilings and expansive open interior
