Building Details

Year built 1985

Floors in Building 1

Listing Agency: Barclays Real Estate Group 1 b***@bertparsley.com Show Phone

Listed By: Mary Dickey · License #258032358 Show Phone

Added: Sep 18 Last Checked: Sep 27 at 12:06PM

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MLS# 2026039440

Copyright © 2026 Florida Gulf Coast Multiple Listing Service, Inc. All rights reserved. All information provided by the listing agent/broker is deemed reliable but is not guaranteed and should be independently verified.

Investment Insights

Based on property information with market context.

This flex-space property provides approximately 4250+/- square feet of climate-controlled commercial area in a configuration suited to office, showroom, distribution, and warehouse functions. The entire interior is air-conditioned, with grade-level overhead doors and on-site parking supporting daily operations. The property carries Industrial Planned Development (IPD) zoning and has access to Lee County Water & Sewer services.

Positioned along the Metro Parkway Corridor in Central Fort Myers, the property offers connectivity to I-75 and US 41. Metro Parkway records 34,500 AADT, while Danley Drive records 8,700 AADT. The 0.4558-acre site is located at 12165 Metro Parkway, Fort Myers, FL 33966.

Key Highlights

• Approximately 4250+/- square feet of flex space
• 100% air‑conditioned interiors with climate control
• Grade‑level overhead doors and ample parking

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

$46,493

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

5.81%

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%

$929,860 $929.9K

Cap Rate 7%

$664,186 $664.2K

Cap Rate 9%

$516,589 $516.6K

Market Conditions

NOI Build-Up for 4,250 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

$76.5K $18.00/SF

− Vacancy

−$5.0K −$1.17/SF

EGI

$71.5K $16.83/SF

− OpEx

−$25.0K −$5.89/SF

NOI

$46.5K $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%

$929,860

Cap Rate 7%

$664,186

Cap Rate 9%

$516,589

Alternative Uses

Best Use

Flex RnD

$664.2K

$581.2K – $774.9K (±1% cap)

NOI $46,493 @ 7.0% cap · market cap 5.81%

Second Best

Warehouse

$619.0K

$541.7K – $722.2K (±1% cap)

NOI $43,333 @ 7.0% cap · market cap 5.42%

Theoretical Best

Office A

$1.34M

$1.17M – $1.56M (±1% cap)

NOI $93,636 @ 7.0% cap · market cap 11.70%

Zoning and permitted uses should be independently verified with authorities.

Property Analytics

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Current Use

Oasis Building & Remodeling Construction Company Southern Computers Electronics & Wireless Store 21st Century Oncology Physician G3 Catering Take-out & Catering Geotech Environmental Equipment ... Environmental Consultant

Suggested Use

Top Pick Real Estate Agency Dental Office Restaurant Law Firm Hair Salon Pharmacy

Score = modeled unmet demand for each use within ~1 mi (higher = bigger opportunity). Zoning and permitted uses should be independently verified with local authorities.

Lease Details

Yes

Highway access

Yes

Utilities to site

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

Market

Vacancy Rate% for Industrial in South region

6% 2019

6.5% 2020

4% 2021

3.5% 2022

6% 2023

7.6% 2024

7.9% 2025

Questions? Ask Rey

Realmo’s AI knows this listing — price, zoning, demand, history. Ask anything.

What type of property is this? Where is this flex space located? What is the asking price? Find similar properties What are key features of this property?

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Frequently Asked Questions

What type of property is this?

Flex space - Versatile commercial space supports office, showroom, distribution, and warehouse operations with grade-level loading access.

Where is this flex space located?

The property is located at 12165 Metro Parkway Fort Myers, FL.

What is the asking price?

The asking price for this property is $800,000.

What are key features of this property?

This property features: Approximately 4250+/- square feet of flex space; 100% air‑conditioned interiors with climate control; Grade‑level overhead doors and ample parking