Metro Parkway Flex Space
For Sale
$4,300,000
12090 Metro Parkway, Fort Myers, FL 33966
22,800± SF flex space on Metro Parkway.
Property Size22,800 SF
Price / SF$188.60
Days on Market166
Property Features for 12090 Metro Parkway
General Information
Standard status
Active
Size
22,800 SF
Property subtype
Industrial - Warehouse/Distribution
Building Details
Building Size
22,800 SF
Year Built
1988
Year Renovated
2019
Units
2
Listing Agency:
SVN | Commercial Partners
Listed By:
Bryan J. Myers · License #SL3200046
(239) 246-5380
Source:
Commercialcafe
Added: Mar 27
Changed: Sep 8
Last Checked: Aug 14 at 7:24AM
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 SVN | Commercial Partners
Investment Insights
Based on property information with market context.
Located along Metro Parkway, 12090 Metro Parkway presents an opportunity for owner-users or investors. Constructed in 1988, the property encompasses approximately 22,800 square feet and features frontage for branding and visibility. Zoned IL (Light Industrial) within Lee County, the property is suited for distribution, service, light manufacturing, and showroom uses. The site consists of two buildings with integrated showroom/office and warehouse areas, providing a flexible layout for operations, display, and storage.
Key Highlights
- Prominent frontage on highly traveled Metro Parkway for branding and visibility.
- Flexible layout with integrated showroom/office and warehouse areas.
- Zoned IL (Light Industrial) in Lee County, suitable for various uses.
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
$249,421
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
5.80%
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%
$4,988,420
$5.0M
Cap Rate 7%
$3,563,157
$3.6M
Cap Rate 9%
$2,771,344
$2.8M
Market Conditions
NOI Build-Up for 22,800 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
$410.4K $18.00/SF
− Vacancy
−$26.7K −$1.17/SF
EGI
$383.7K $16.83/SF
− OpEx
−$134.3K −$5.89/SF
NOI
$249.4K $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%
$4,988,420
Cap Rate 7%
$3,563,157
Cap Rate 9%
$2,771,344
Alternative Uses
Best Use
Flex RnD
$3.56M
$3.12M – $4.16M
NOI $249,421 @ 7.0% cap · market cap 5.80%
Second Best
Industrial
$2.97M
$2.60M – $3.47M
NOI $208,134 @ 7.0% cap · market cap 4.84%
Theoretical Best
Office A
$7.18M
$6.28M – $8.37M
NOI $502,330 @ 7.0% cap · market cap 11.68%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Location Intelligence
Trade Area within ½ mile
641
Businesses Nearby
Well-served
Demand for This Use
Explore this area
Business Placement
Demographics for 33966, FL
11,245
Population
7,472
Households
1.5
Avg Household Size
50
Median Age
44%
College-Educated
97%
High-School Grad
8.8 sq mi
ZIP Area
1,278
Density / Sq Mi
$86,812
Median Household Income
$54,302
Median Earnings
$1,743
Median Rent
$362,400
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.
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Frequently Asked Questions
What type of property is this?
Flex space - 22,800± SF flex space on Metro Parkway.
Where is this flex space located?
The property is located at 12090 Metro Parkway Fort Myers, FL.
What is the asking price?
The asking price for this property is $4,300,000.
What are key features of this property?
This property features: Prominent frontage on highly traveled Metro Parkway for branding and visibility.; Flexible layout with integrated showroom/office and warehouse areas.; Zoned IL (Light Industrial) in Lee County, suitable for various uses.
