Two-Level Industrial Office
For Sale
Contact for pricing
12165 Metro Pkwy, Fort Myers, FL 33966
Unit 23 features built-out office space over approximately 468 SF of warehouse with a 10' x 12' overhead door.
Property Size2,378 SF
Price / SF$166.11
Days on Market256
Property Features for 12165 Metro Pkwy
General Information
Standard status
Active
Size
2,378 SF
Property subtype
INDUSTRIAL
Warehouse & Industrial
Clear Height
21 ft
Sprinkler System
Yes
Building Details
Tenancy
Multi
Listing Agency:
VIP Realty - Commercial
(239) 489-3303
Listed By:
Ethan Schumacher · License #258020030
(239) 220-3042
Source:
Moodyscre
Added: Jan 2
Changed: Sep 4
Last Checked: Sep 14 at 9:45AM
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 VIP Realty - Commercial
Investment Insights
Based on property information with market context.
Metropolitan Commercial Park offers a multi-tenant industrial office condo setting, with Unit 23 available for sale. The unit includes two levels of office build-out. The first floor offers a reception/showroom area, conference room, large private office, breakroom, two restrooms, and approximately 468± SF of warehouse space with 21' ceiling height. It also includes one 10' x 12' overhead door and one service entrance. The second floor provides two large work areas, a small office, and a private hallway with waiting area.
The park is centrally located on Metro Parkway, just north of Crystal Drive, with access via Colonial Blvd. to the north and Daniels Parkway to the south.
Both the first and second floors include fire sprinklers in place, supporting a practical tenant-ready office/warehouse configuration within the condo park setting.
The park is centrally located on Metro Parkway, just north of Crystal Drive, with access via Colonial Blvd. to the north and Daniels Parkway to the south.
Both the first and second floors include fire sprinklers in place, supporting a practical tenant-ready office/warehouse configuration within the condo park setting.
Key Highlights
- Unit 23 in Metropolitan Commercial Park offers built‑out two‑level office space over approx. 468± SF of warehouse.
- Warehouse includes 21' ceiling height and a 10' x 12' overhead door plus one service entrance.
- First floor features reception/showroom, conference room, private office, breakroom, and two restrooms.
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
$26,014
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
6.59%
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%
$520,280
$520.3K
Cap Rate 7%
$371,629
$371.6K
Cap Rate 9%
$289,044
$289.0K
Market Conditions
NOI Build-Up for 2,378 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
$42.8K $18.00/SF
− Vacancy
−$2.8K −$1.17/SF
EGI
$40.0K $16.83/SF
− OpEx
−$14.0K −$5.89/SF
NOI
$26.0K $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%
$520,280
Cap Rate 7%
$371,629
Cap Rate 9%
$289,044
Alternative Uses
Best Use
Office B
$583.8K
$510.8K – $681.1K
NOI $40,866 @ 7.0% cap · market cap 10.35%
Second Best
Flex RnD
$371.6K
$325.2K – $433.6K
NOI $26,014 @ 7.0% cap · market cap 6.59%
Theoretical Best
Office A
$748.5K
$654.9K – $873.2K
NOI $52,392 @ 7.0% cap · market cap 13.26%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
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Open Analytics
Current Use
Lease Details
21 ft
Clear height
Multi-tenant
Tenancy
Yes
Sprinkler system
Location Intelligence
Trade Area within ½ mile
646
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
Check the figures for this property
Cap Rate, Value Estimation, Potential NOI and more
View Realmo Analytics
Market
Vacancy Rate% for Office in South region
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Frequently Asked Questions
What type of property is this?
Flex space - Unit 23 features built-out office space over approximately 468 SF of warehouse with a 10' x 12' overhead door.
Where is this flex space located?
The property is located at 12165 Metro Pkwy Fort Myers, FL.
What is the asking price?
The asking price for this property is $395,000.
What are key features of this property?
This property features: Unit 23 in Metropolitan Commercial Park offers built‑out two‑level office space over approx. 468± SF of warehouse.; Warehouse includes 21' ceiling height and a 10' x 12' overhead door plus one service entrance.; First floor features reception/showroom, conference room, private office, breakroom, and two restrooms.
