Metro Parkway Industrial
For Sale
$4,300,000
12090 Metro Parkway, Fort Myers, FL 33966
22,800 SF industrial warehouse with showroom space on Metro Parkway.
Property Size22,800 SF
Price / SF$188.60
Days on Market164
Property Features for 12090 Metro Parkway
General Information
Standard status
Active
Size
22,800 SF
Property subtype
Industrial
Building Details
Year Built
1988
Listing Agency:
SVN - Commercial Partners | Sarasota
(239) 246-5380
Listed By:
Bryan J. Myers · License #BK3231913
(239) 246-5380
Source:
Svn
Added: Mar 6
Changed: Jul 10
Last Checked: Aug 17 at 4:24AM
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 | Sarasota
Investment Insights
Based on property information with market context.
Located on Metro Parkway in Fort Myers, Florida, the property at 12090 Metro Parkway presents an opportunity for owner-users or investors. Constructed in 1988, this property consists of approximately 22,800 square feet across two buildings and features frontage for branding and visibility. Zoned IL (Light Industrial) in Lee County, the property is suitable for distribution, service, light manufacturing, and showroom purposes. The buildings integrate showroom/office and warehouse areas, providing a layout for operations, display, and storage. The site is located on the west side of Metro Parkway, north of Crystal Drive. The property includes 5 exterior offices, a conference room, and two restrooms. It features direct frontage on Metro Parkway for signage and exposure on an oversized lot. The property has two LP tanks (1-1,00 gallon and 1- 500 gallon); 3 phase 600 amp power. There are 2 (14 x 12) roll up doors; 1 (10 x 10) roll up door; 1 (14 x 12) roll up door with landing pad and dock high with leveler. The property has 5,400 sf of showroom space.
Key Highlights
- Direct frontage on highly traveled Metro Parkway for strong signage and exposure.
- 22,800± SF industrial warehouse with 5,400 SF of showroom space across two buildings.
- Lee County IL (Light Industrial) zoning supports a wide range of industrial and commercial 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
$299,097
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
6.96%
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%
$5,981,940
$6.0M
Cap Rate 7%
$4,272,814
$4.3M
Cap Rate 9%
$3,323,300
$3.3M
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
$440.5K $19.32/SF
− Vacancy
−$13.2K −$0.58/SF
EGI
$427.3K $18.74/SF
− OpEx
−$128.2K −$5.62/SF
NOI
$299.1K $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%
$5,981,940
Cap Rate 7%
$4,272,814
Cap Rate 9%
$3,323,300
Alternative Uses
Best Use
Retail
$4.27M
$3.74M – $4.98M
NOI $299,097 @ 7.0% cap · market cap 6.96%
Second Best
Warehouse
$3.32M
$2.91M – $3.87M
NOI $232,467 @ 7.0% cap · market cap 5.41%
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
761
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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- Crystal U Park — 2330 Crystal Rd, Fort Myers, FL 33907
Frequently Asked Questions
What type of property is this?
Warehouse - 22,800 SF industrial warehouse with showroom space on Metro Parkway.
Where is this warehouse 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: Direct frontage on highly traveled Metro Parkway for strong signage and exposure.; 22,800± SF industrial warehouse with **5,400 SF of showroom space** across two buildings.; Lee County IL (Light Industrial) zoning supports a wide range of industrial and commercial uses.
