Prime Retail Investment
For Sale
Contact for pricing
11940 Fairway Lakes Dr, Fort Myers, FL 33913
Retail property in a thriving commercial district with high visibility.
Property Size10,485 SF
Price / SF$302.34
Days on Market188
Property Features for 11940 Fairway Lakes Dr
General Information
Standard status
Active
Size
10,485 SF
Class
B
Property subtype
Mixed Use, Office, Retail
Zoning
PUD
Occupancy
100%
Lease Type
NNN
Investment Type
Stabilized
Net Operating Income
$216,700
Building Details
Year Built
1996
Year Renovated
2025
Buildings
1
Stories
1
Units
7
Tenancy
Multi
Listing Agency:
Invest Florida
Listed By:
Nicholas Paulus · License #BK3384541
Source:
Crexi
Added: Feb 5
Changed: Aug 8
Last Checked: Aug 11 at 9:59AM
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 Invest Florida
Investment Insights
Based on property information with market context.
The property at 11941 Fairway Lakes Dr, Fort Myers, FL 33913, presents an investment opportunity in a sought-after area. This retail property is situated in a thriving commercial district, offering high visibility and accessibility. The location is well-connected and benefits from strong demographics, potentially providing a solid foundation for various business ventures. The property size is 10485 square feet. Financial analysis suggests the potential for attractive returns on investment.
Key Highlights
- Prime retail property in a sought‑after area of Fort Myers.
- Strategic location with high visibility and easy access.
- Surrounded by a thriving commercial district.
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
$180,184
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
5.68%
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%
$3,603,680
$3.6M
Cap Rate 7%
$2,574,057
$2.6M
Cap Rate 9%
$2,002,044
$2.0M
Market Conditions
NOI Build-Up for 10,485 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
$261.7K $24.96/SF
− Vacancy
−$21.5K −$2.05/SF
EGI
$240.2K $22.91/SF
− OpEx
−$60.1K −$5.73/SF
NOI
$180.2K $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%
$3,603,680
Cap Rate 7%
$2,574,057
Cap Rate 9%
$2,002,044
Alternative Uses
Best Use
Office B
$2.57M
$2.25M – $3.00M
NOI $180,184 @ 7.0% cap · market cap 5.68%
Second Best
Retail
$1.96M
$1.72M – $2.29M
NOI $137,545 @ 7.0% cap · market cap 4.34%
Theoretical Best
Office A
$3.30M
$2.89M – $3.85M
NOI $231,006 @ 7.0% cap · market cap 7.29%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Location Intelligence
Trade Area within ½ mile
312
Businesses Nearby
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
Realmo’s AI knows this listing — price, zoning, demand, history. Ask anything.
Frequently Asked Questions
What type of property is this?
Mixed-use property - Retail property in a thriving commercial district with high visibility.
Where is this mixed-use property located?
The property is located at 11940 Fairway Lakes Dr Fort Myers, FL.
What is the asking price?
The asking price for this property is $3,170,000.
What are key features of this property?
This property features: Prime retail property in a sought‑after area of Fort Myers.; Strategic location with high visibility and easy access.; Surrounded by a thriving commercial district.
