Upgraded Vehicle Storage
For Sale
$624,000
100-18950 S Tamiami Trl, Fort Myers, FL 33903
Rare, fully finished vehicle storage unit with upgraded features.
Property Size2,900 SF
Price / SF$215.17
Days on Market147
Property Features for 100-18950 S Tamiami Trl
General Information
Standard status
Active
Size
2,900 SF
Taxes and HOA fees
Annual Taxes
$10
Listing Agency:
Naples Beach & Bay Realty Inc
(239) 228-5348
Listed By:
Torry Sigvartsen, PA
(239) 595-5525
Source:
Exprealty
Added: Apr 9
Changed: Aug 20
Last Checked: Sep 1 at 10:25PM
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 Naples Beach & Bay Realty Inc
Investment Insights
Based on property information with market context.
This vehicle storage unit is located in Classic Estates, a gated community for car enthusiasts in Southwest Florida. The property features security cameras and a 16’x14’ electric roll-up door. The unit offers 1,250 square feet on the garage floor, a fully finished 1,250-square-foot upstairs loft, and an additional 400-square-foot bonus loft space on the third level, totaling 2,900 square feet of finished space. The garage floor includes a water filter system for the entire unit and a mop sink. The upstairs area is equipped with a kitchenette featuring an island, a full bathroom with a washer/dryer laundry area, an office/bedroom with walk-in storage/closets, and a large hangout/living area with an 85-inch TV. The entire unit is air-conditioned. The garage is equipped with two single mast car lifts. A quarterly fee covers insurance, yard maintenance, water, internet, garbage dumpster, security cameras, and gate operation via phone.
Key Highlights
- Rare vehicle storage unit in premier car enthusiast community (Classic Estates) with only 24 units.
- Move‑in ready, fully finished unit with builder upgrades; no waiting list.
- Total of 2900 sq ft of finished space including a 1250 sq ft garage, 1250 sq ft loft, and 400 sq ft bonus loft.**
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
$38,043
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
6.10%
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%
$760,860
$760.9K
Cap Rate 7%
$543,471
$543.5K
Cap Rate 9%
$422,700
$422.7K
Market Conditions
NOI Build-Up for 2,900 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
$56.0K $19.32/SF
− Vacancy
−$1.7K −$0.58/SF
EGI
$54.3K $18.74/SF
− OpEx
−$16.3K −$5.62/SF
NOI
$38.0K $13.12/SF
Area
Lee County, FL
Vacancy
3.00%
Lease Rate
$19.32 /SF/Yr
Expense Ratio
30.00%
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%
$760,860
Cap Rate 7%
$543,471
Cap Rate 9%
$422,700
Alternative Uses
Best Use
Retail
$543.5K
$475.5K – $634.1K
NOI $38,043 @ 7.0% cap · market cap 6.10%
Second Best
Self Storage
$436.9K
$382.3K – $509.7K
NOI $30,584 @ 7.0% cap · market cap 4.90%
Theoretical Best
Office A
$912.8K
$798.7K – $1.06M
NOI $63,893 @ 7.0% cap · market cap 10.24%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Location Intelligence
Trade Area within ½ mile
561
Businesses Nearby
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 Industrial in South region
Questions? Ask Rey
Realmo’s AI knows this listing — price, zoning, demand, history. Ask anything.
Frequently Asked Questions
What type of property is this?
Self storage facility - Rare, fully finished vehicle storage unit with upgraded features.
Where is this self storage facility located?
The property is located at 100-18950 S Tamiami Trl Fort Myers, FL.
What is the asking price?
The asking price for this property is $624,000.
What are key features of this property?
This property features: Rare vehicle storage unit in premier car enthusiast community (Classic Estates) with only 24 units.; Move‑in ready, fully finished unit with builder upgrades; no waiting list.; Total of 2900 sq ft of finished space including a 1250 sq ft garage, 1250 sq ft loft, and 400 sq ft bonus loft.**
