Two-Unit Gateway Building For
For Sale
Contact for pricing
12221 Towne Lake Dr, Fort Myers, FL 33913
Two-unit building with long-term tenants, warehouse, and office space.
Property Size5,000 SF
Price / SF$239
Days on Market147
Property Features for 12221 Towne Lake Dr
General Information
Standard status
Active
Size
5,000 SF
Class
B
Property subtype
Mixed Use
Occupancy
100%
Lease Type
Gross
Investment Type
Owner/User
Building Details
Year Built
1994
Year Renovated
2023
Buildings
1
Stories
1
Units
2
Tenancy
Multi
Listing Agency:
Premiere Plus Realty
Listed By:
Bill Frothinger · License #FL SL3591007
Source:
Crexi
Added: Mar 18
Changed: Aug 8
Last Checked: Aug 11 at 12:25PM
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 Premiere Plus Realty
Investment Insights
Based on property information with market context.
This two-unit gateway building features long-term tenants, with one unit operating on a month-to-month basis and the other under a lease agreement. Each unit includes a small kitchenette, two restrooms, a reception area, warehouse space, and seven offices. Capital improvements have been made to the property, including a new A/C unit in 2022, exterior paint and a new membrane roof in 2023, renewal of the north interior in 2024, and a new electrical panel in the north unit planned for 2025. The property is suitable for mixed-use, warehouse, industrial, and office purposes.
Key Highlights
- Two‑unit building offering immediate rental income potential.
- Recent capital improvements: new roof (2023), new A/C (2022), new electrical panel in one unit (2025), and exterior paint (2023).
- Each unit contains a reception area, warehouse space, 7 offices, a kitchenette, and 2 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
$85,925
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
7.19%
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%
$1,718,500
$1.7M
Cap Rate 7%
$1,227,500
$1.2M
Cap Rate 9%
$954,722
$954.7K
Market Conditions
NOI Build-Up for 5,000 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
$124.8K $24.96/SF
− Vacancy
−$10.2K −$2.05/SF
EGI
$114.6K $22.91/SF
− OpEx
−$28.6K −$5.73/SF
NOI
$85.9K $17.18/SF
Area
Lee County, FL
Vacancy
8.20%
Lease Rate
$24.96 /SF/Yr
Expense Ratio
25.00%
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%
$1,718,500
Cap Rate 7%
$1,227,500
Cap Rate 9%
$954,722
Alternative Uses
Best Use
Office B
$1.23M
$1.07M – $1.43M
NOI $85,925 @ 7.0% cap · market cap 7.19%
Second Best
Mixed Use
$881.3K
$771.1K – $1.03M
NOI $61,688 @ 7.0% cap · market cap 5.16%
Theoretical Best
Office A
$1.57M
$1.38M – $1.84M
NOI $110,160 @ 7.0% cap · market cap 9.22%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Location Intelligence
Trade Area within ½ mile
393
Businesses Nearby
Explore this area
Business Placement
Demographics for 33913, FL
28,216
Population
16,026
Households
1.8
Avg Household Size
54
Median Age
47%
College-Educated
95%
High-School Grad
101.0 sq mi
ZIP Area
279
Density / Sq Mi
$106,925
Median Household Income
$54,341
Median Earnings
$1,914
Median Rent
$439,200
Median Home Value
Market
Vacancy Rate% for Office in South region
Questions? Ask Rey
Realmo’s AI knows this listing — price, zoning, demand, history. Ask anything.
Frequently Asked Questions
What type of property is this?
Mixed-use property - Two-unit building with long-term tenants, warehouse, and office space.
Where is this mixed-use property located?
The property is located at 12221 Towne Lake Dr Fort Myers, FL.
What is the asking price?
The asking price for this property is $1,195,000.
What are key features of this property?
This property features: Two‑unit building offering immediate rental income potential.; Recent capital improvements: new roof (2023), new A/C (2022), new electrical panel in one unit (2025), and exterior paint (2023).; Each unit contains a reception area, warehouse space, 7 offices, a kitchenette, and 2 restrooms.
