Drive-Through Flex
For Sale
$550,000
12300 Itec Park Dr, Fort Myers, FL 33913
Commercial Sale, FORT MYERS, FL
Property Size1,726 SF
Lot Size0.44 Acres
Price / SF$318.66
Days on Market273
Property Features for 12300 Itec Park Dr
General Information
Property type
Commercial Sale
Property subtype
Office
Subdivision
FM21 - Fort Myers Area
Standard status
Active
APN
07-46-26-L3-13000.1050
Lot size
0.44 Acres
Taxes and HOA fees
Tax Year
2024
Tax Description
MY ITEC PLACE CONDO PHASE 1
Tax Annual Amount
2993
Legal Description
MY ITEC PLACE CONDO PHASE 1
Amenities
24/7 access
electrical hookups
interior half-bath
folding glass doors
Building Details
Year built
2021
Floors in Building
1
Listing Agency:
John R Wood Properties
(239) 498-9200
Listed By:
Lisa Mishler LLC
(239) 691-2487
Added: Dec 16, 2025
Changed: Sep 7
Last Checked: Sep 15 at 8:06AM
MLS# 225069732
Copyright © 2026 Coconut Coast Organization of REALTORS. 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 2021 flex-space condominium combines Units 105 and 118 into a connected drive-through garage configuration. Commercial garage doors at opposite ends support vehicle movement through the space, while folding glass doors separate the two units. The property includes an interior half-bath, electrical hookups, and two motorized auto lifts. The units measure 24' x 43.8" and 24' x 28.1", respectively.
Located in Alico ITEC Park on Alico Road in Fort Myers, the property offers 24/7 access and is suited to vehicle storage or other garage-oriented commercial needs. Lee County unit PIDs are 07-46-26-L3-13000.1050 and 07-46-26-L3-13000.1180.
Located in Alico ITEC Park on Alico Road in Fort Myers, the property offers 24/7 access and is suited to vehicle storage or other garage-oriented commercial needs. Lee County unit PIDs are 07-46-26-L3-13000.1050 and 07-46-26-L3-13000.1180.
Key Highlights
- Two conjoined units: 105 and 118
- Drive‑through layout with commercial garage doors at both ends
- Two motorized auto lifts included
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
$22,642
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
4.12%
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%
$452,840
$452.8K
Cap Rate 7%
$323,457
$323.5K
Cap Rate 9%
$251,578
$251.6K
Market Conditions
NOI Build-Up for 1,726 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
$33.3K $19.32/SF
− Vacancy
−$1.0K −$0.58/SF
EGI
$32.3K $18.74/SF
− OpEx
−$9.7K −$5.62/SF
NOI
$22.6K $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%
$452,840
Cap Rate 7%
$323,457
Cap Rate 9%
$251,578
Alternative Uses
Best Use
Retail
$323.5K
$283.0K – $377.4K
NOI $22,642 @ 7.0% cap · market cap 4.12%
Second Best
Flex RnD
$269.7K
$236.0K – $314.7K
NOI $18,882 @ 7.0% cap · market cap 3.43%
Theoretical Best
Office A
$543.2K
$475.3K – $633.8K
NOI $38,027 @ 7.0% cap · market cap 6.91%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
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Open Analytics
Current Use
Lease Details
2
Drive-in doors
Location Intelligence
Trade Area within ½ mile
5
Businesses Nearby
Well-served
Demand for This Use
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
Check the figures for this property
Cap Rate, Value Estimation, Potential NOI and more
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Market
Vacancy Rate% for Industrial in South region
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Frequently Asked Questions
What type of property is this?
Flex space - Two connected commercial garage units with vehicle lifts, interior half-bath, electrical hookups, and round-the-clock access.
Where is this flex space located?
The property is located at 12300 Itec Park Dr Fort Myers, FL.
What is the asking price?
The asking price for this property is $550,000.
What are key features of this property?
This property features: Two conjoined units: 105 and 118; Drive‑through layout with commercial garage doors at both ends; Two motorized auto lifts included
