Concrete Flex Unit with
For Sale
$399,000
120-13461 Shire Ln, Fort Myers, FL 33912
Ground-floor commercial unit with private bathroom, climate control, and a dedicated mezzanine for workspace or storage.
Property Size1,350 SF
Price / SF$295.56
Days on Market19
Property Features for 120-13461 Shire Ln
General Information
Standard status
Active
Size
1,350 SF
Warehouse & Industrial
Mezzanine
320 SF
Drive-In Doors
1
Power
200 amps
Voltage
220 V
Additional Details
Fenced Yard
Yes
Taxes and HOA fees
Annual Taxes
$4,644
Amenities
Security features
Individual climate control
Private full bathroom
Mail/parcel addressable
High-speed internet
Second-floor plumbing/drainage
Energy-efficient TPO roofing
Building Details
Construction
concrete
Listing Agency:
Compass Florida LLC
(239) 405-3551
Listed By:
Scott Schilling
(239) 405-3551
Source:
Exprealty
Added: Jul 30
Changed: Aug 16
Last Checked: Aug 16 at 11:05AM
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 Compass Florida LLC
Investment Insights
Based on property information with market context.
Unit 120 at Excalibur Motor Condominiums provides 1,350 total square feet, including a 25-by-40-foot ground floor and a 320-square-foot mezzanine. The concrete construction is designed to withstand 170+ MPH winds, while the building sits 20 feet above sea level in FEMA Zone X. Interior features include a private bathroom with shower, individual climate control, 220V / 200 AMP electrical service, and a custom 16-foot by 14-foot insulated garage door. An impact-rated glass entry door adds natural light, and second-floor plumbing and drainage support a future wet bar or kitchenette. The property is secured by an 8-foot perimeter fence, dual gated entrances with cameras, motion-activated lighting, and 24/7 video surveillance. Located at 13461 Shire Ln in Fort Myers, the unit is addressable for mail and parcel delivery and includes high-speed internet access.
Key Highlights
- 1,350 total square feet with a 320 sq ft mezzanine
- 25x40 ft ground floor with a custom 16’ x 14’ insulated garage door
- 100% concrete construction rated to withstand 170+ MPH winds
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
$14,768
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
3.70%
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%
$295,360
$295.4K
Cap Rate 7%
$210,971
$211.0K
Cap Rate 9%
$164,089
$164.1K
Market Conditions
NOI Build-Up for 1,350 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
$24.3K $18.00/SF
− Vacancy
−$1.6K −$1.17/SF
EGI
$22.7K $16.83/SF
− OpEx
−$8.0K −$5.89/SF
NOI
$14.8K $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%
$295,360
Cap Rate 7%
$210,971
Cap Rate 9%
$164,089
Alternative Uses
Best Use
Flex RnD
$211.0K
$184.6K – $246.1K
NOI $14,768 @ 7.0% cap · market cap 3.70%
Second Best
Warehouse
$196.6K
$172.1K – $229.4K
NOI $13,764 @ 7.0% cap · market cap 3.45%
Theoretical Best
Office A
$424.9K
$371.8K – $495.7K
NOI $29,743 @ 7.0% cap · market cap 7.45%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Current Use
Lease Details
1
Drive-in doors
Yes
Fenced yard
Location Intelligence
Trade Area within ½ mile
250
Businesses Nearby
Under-served
Demand for This Use
Explore this area
Business Placement
Demographics for 33912, FL
19,146
Population
12,078
Households
1.6
Avg Household Size
61
Median Age
48%
College-Educated
97%
High-School Grad
21.2 sq mi
ZIP Area
903
Density / Sq Mi
$101,043
Median Household Income
$54,143
Median Earnings
$1,653
Median Rent
$367,800
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 - Ground-floor commercial unit with private bathroom, climate control, and a dedicated mezzanine for workspace or storage.
Where is this flex space located?
The property is located at 120-13461 Shire Ln Fort Myers, FL.
What is the asking price?
The asking price for this property is $399,000.
What are key features of this property?
This property features: 1,350 total square feet with a 320 sq ft mezzanine; 25x40 ft ground floor with a custom 16’ x 14’ insulated garage door; 100% concrete construction rated to withstand 170+ MPH winds
