Established Self-Storage Facility For
For Sale
Contact for pricing
Pending
12644 Palm Beach Blvd, Fort Myers, FL 33905
Well-located self-storage facility in Fort Myers, Florida.
Property Size23,471 SF
Days on Market176
Property Features for 12644 Palm Beach Blvd
General Information
Standard status
Pending
Size
23,471 SF
Total Parking Spaces
18
Property subtype
Self Storage
Occupancy
91%
Building Details
Year Built
2001
Buildings
2
Stories
2
Units
211
Tenancy
Multi
Listing Agency:
Grandstone Investment Sales
Listed By:
Meir Perlmuter · License #BK3443325
Source:
Crexi
Added: Feb 18
Changed: Aug 8
Last Checked: Jul 25 at 8:32AM
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 Grandstone Investment Sales
Investment Insights
Based on property information with market context.
Ace’s Self Storage is a self-storage facility located along Palm Beach Boulevard in Fort Myers, Florida. The property benefits from visibility and access along an east–west corridor, serving residential neighborhoods and commercial users. The property features a diversified unit mix with a climate-controlled component, allowing ownership to serve a customer base while maintaining pricing flexibility across unit sizes. Historical performance demonstrates the asset’s ability to operate at high occupancy levels. Ace’s Self Storage benefits from its location within a submarket of Fort Myers, where existing storage supply is limited and new development is constrained by zoning, land availability, and rising construction costs. The surrounding trade area is characterized by household growth, increasing incomes, and a renter profile, all of which support sustained demand for self-storage. Nearby facilities include a mix of older product and newly delivered institutional assets, positioning Ace’s to capture demand from both value-oriented and convenience-driven customers. The property size is 23471 square feet.
Key Highlights
- Located in a high‑demand Fort Myers submarket with limited new development.
- Strong visibility and convenient access** along Palm Beach Boulevard.
- Diversified unit mix with climate‑controlled component.
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
$247,530
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
6.35%
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%
$4,950,600
$5.0M
Cap Rate 7%
$3,536,143
$3.5M
Cap Rate 9%
$2,750,333
$2.8M
Market Conditions
NOI Build-Up for 23,471 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
$380.2K $16.20/SF
− Vacancy
−$26.6K −$1.13/SF
EGI
$353.6K $15.07/SF
− OpEx
−$106.1K −$4.52/SF
NOI
$247.5K $10.55/SF
Area
Lee County, FL
Vacancy
7.00%
Lease Rate
$16.20 /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%
$4,950,600
Cap Rate 7%
$3,536,143
Cap Rate 9%
$2,750,333
Alternative Uses
Best Use
Self Storage
$3.54M
$3.09M – $4.13M
NOI $247,530 @ 7.0% cap · market cap 6.35%
Second Best
Industrial
$3.06M
$2.68M – $3.57M
NOI $214,260 @ 7.0% cap · market cap 5.49%
Theoretical Best
Office A
$7.39M
$6.46M – $8.62M
NOI $517,113 @ 7.0% cap · market cap 13.26%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Location Intelligence
Trade Area within ½ mile
515
Businesses Nearby
Explore this area
Business Placement
Demographics for 33905, FL
37,692
Population
17,337
Households
2.2
Avg Household Size
41
Median Age
22%
College-Educated
79%
High-School Grad
40.2 sq mi
ZIP Area
938
Density / Sq Mi
$70,009
Median Household Income
$36,923
Median Earnings
$1,509
Median Rent
$260,400
Median Home Value
Market
Vacancy Rate% for Industrial in South region
Questions? Ask Rey
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Frequently Asked Questions
What type of property is this?
Self storage facility - Well-located self-storage facility in Fort Myers, Florida.
Where is this self storage facility located?
The property is located at 12644 Palm Beach Blvd Fort Myers, FL.
What is the asking price?
The asking price for this property is $3,900,000.
What are key features of this property?
This property features: Located in a high‑demand Fort Myers submarket with limited new development.; Strong visibility and convenient access** along Palm Beach Boulevard.; Diversified unit mix with climate‑controlled component.
