Turnkey Office Suites with New
For Sale
Contact for pricing
11637 Kelly Rd, Fort Myers, FL 33908
Office suites offered for sale with a new roof and completed buildouts, ready for immediate tenant use.
Property Size13,850 SF
Price / SF$228.63
Days on Market642
Property Features for 11637 Kelly Rd
General Information
Standard status
Active
Size
13,850 SF
Property subtype
OFFICE
Listing Agency:
Commercial Real Estate Services of SWFL, Inc.
(239) 980-0081
Listed By:
Carlos Acosta, CCIM · License #BK3161197
(239) 823-0115
Source:
Moodyscre
Added: Dec 12, 2024
Changed: Sep 4
Last Checked: Sep 14 at 12:07PM
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 Commercial Real Estate Services of SWFL, Inc.
Investment Insights
Based on property information with market context.
This offering includes office units and office spaces presented as turn-key, with new roofs and new buildouts already completed. The property totals 13,850 square feet, providing office configuration suitable for an operator or tenant seeking finished improvements rather than starting from scratch.
The property is located at 11637 Kelly Rd in Fort Myers, Florida (33908).
The property is located at 11637 Kelly Rd in Fort Myers, Florida (33908).
Key Highlights
- Office suites for sale at 11637 Kelly Rd
- New roof
- New buildouts completed
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
$238,012
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
7.52%
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%
$4,760,240
$4.8M
Cap Rate 7%
$3,400,171
$3.4M
Cap Rate 9%
$2,644,578
$2.6M
Market Conditions
NOI Build-Up for 13,850 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
$345.7K $24.96/SF
− Vacancy
−$28.3K −$2.05/SF
EGI
$317.3K $22.91/SF
− OpEx
−$79.3K −$5.73/SF
NOI
$238.0K $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%
$4,760,240
Cap Rate 7%
$3,400,171
Cap Rate 9%
$2,644,578
Alternative Uses
Best Use
Office B
$3.40M
$2.98M – $3.97M
NOI $238,012 @ 7.0% cap · market cap 7.52%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$4.36M
$3.81M – $5.09M
NOI $305,143 @ 7.0% cap · market cap 9.64%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
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Current Use
Location Intelligence
Trade Area within ½ mile
767
Businesses Nearby
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
Check the figures for this property
Cap Rate, Value Estimation, Potential NOI and more
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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 units - Office suites offered for sale with a new roof and completed buildouts, ready for immediate tenant use.
Where is this office units located?
The property is located at 11637 Kelly Rd Fort Myers, FL.
What is the asking price?
The asking price for this property is $3,166,542.
What are key features of this property?
This property features: Office suites for sale at 11637 Kelly Rd; New roof; New buildouts completed
