Fenced Warehouse Storage
For Sale
Contact for pricing
1245 River Rd, North Fort Myers, FL 33903
Fenced industrial storage property with a warehouse, covered shed, and drive-in access.
Property Size3,100 SF
Lot Size0.88 Acres
Price / SF$298.39
Days on Market198
Property Features for 1245 River Rd
General Information
Standard status
Active
Size
3,100 SF
Lot size
0.88 Acres
Property subtype
INDUSTRIAL
Site & Location
Highway Access
Yes
Fenced Yard
Yes
Outdoor Storage
Yes
Warehouse & Industrial
Warehouse Space
1,800 SF
Drive-In Doors
1
Listing Agency:
LQ Commercial - Corporate
(941) 999-1188
Listed By:
Bruce Micciche, CCIM
(941) 999-1188
Source:
Moodyscre
Added: Feb 13
Changed: Aug 30
Last Checked: Aug 30 at 12:59PM
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 LQ Commercial - Corporate
Investment Insights
Based on property information with market context.
This warehouse property combines enclosed and outdoor storage components across a 0.88-acre site. Improvements include an 1,800-square-foot warehouse equipped with a drive-in door and a 1,350-square-foot covered shed. The yard is fully fenced, and the property is currently used for both indoor and outdoor storage.
The site is positioned just off US-41 in North Fort Myers, where the roadway carries 35,500 AADT. Access to I-75 adds a regional transportation connection. Total property size is 3,100 square feet, supported by the warehouse, covered shed, and secured yard configuration.
The site is positioned just off US-41 in North Fort Myers, where the roadway carries 35,500 AADT. Access to I-75 adds a regional transportation connection. Total property size is 3,100 square feet, supported by the warehouse, covered shed, and secured yard configuration.
Key Highlights
- 0.88‑acre site configured for industrial outdoor storage
- 1,800 SF warehouse with drive‑in door
- 1,350 SF covered shed
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
$31,607
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
3.42%
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%
$632,140
$632.1K
Cap Rate 7%
$451,529
$451.5K
Cap Rate 9%
$351,189
$351.2K
Market Conditions
NOI Build-Up for 3,100 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
$39.1K $12.60/SF
− Vacancy
−$1.9K −$0.60/SF
EGI
$37.2K $12.00/SF
− OpEx
−$5.6K −$1.80/SF
NOI
$31.6K $10.20/SF
Area
Lee County, FL
Vacancy
4.80%
Lease Rate
$12.60 /SF/Yr
Expense Ratio
15.00%
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%
$632,140
Cap Rate 7%
$451,529
Cap Rate 9%
$351,189
Alternative Uses
Best Use
Warehouse
$451.5K
$395.1K – $526.8K
NOI $31,607 @ 7.0% cap · market cap 3.42%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$975.7K
$853.7K – $1.14M
NOI $68,299 @ 7.0% cap · market cap 7.38%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
1
Drive-in doors
Yes
Fenced yard
Yes
Highway access
Location Intelligence
Trade Area within ½ mile
781
Businesses Nearby
Well-served
Demand for This Use
Explore this area
Business Placement
Demographics for 33903, FL
23,294
Population
15,400
Households
1.5
Avg Household Size
61
Median Age
24%
College-Educated
89%
High-School Grad
11.3 sq mi
ZIP Area
2,061
Density / Sq Mi
$56,317
Median Household Income
$32,452
Median Earnings
$1,152
Median Rent
$135,400
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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Frequently Asked Questions
What type of property is this?
Warehouse - Fenced industrial storage property with a warehouse, covered shed, and drive-in access.
Where is this warehouse located?
The property is located at 1245 River Rd North Fort Myers, FL.
What is the asking price?
The asking price for this property is $925,000.
What are key features of this property?
This property features: 0.88‑acre site configured for industrial outdoor storage; 1,800 SF warehouse with drive‑in door; 1,350 SF covered shed
