Commerce Lakes Drive Warehouse For
For Sale
$600,000
12960 Commerce Lakes Drive, Fort Myers, FL 33913
Warehouse unit built in 2007 with 18' ceiling height.
Property Size2,064 SF
Price / SF$290.70
Days on Market270
Property Features for 12960 Commerce Lakes Drive
General Information
Standard status
Active
Size
2,064 SF
Property subtype
Industrial
Building Details
Building Size
2,064 SF
Listing Agency:
Lee & Associates - Naples
(239) 209-0458
Listed By:
Brock Rasmussen, SIOR · License #3345374
(239) 209-0458
Source:
Lee-associates
Added: Nov 26, 2025
Changed: Aug 22
Last Checked: Aug 23 at 2:51AM
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 Lee & Associates - Naples
Investment Insights
Based on property information with market context.
This warehouse unit, constructed in 2007, features concrete tilt-up construction and hurricane impact glass. The warehouse area has a ceiling height of 18 feet and includes one 10’ x 12’ overhead door. The property benefits from professional landscaping, abundant parking, and extensive exterior lighting. Condo fees are $1,165 quarterly. The property size is 2,064 square feet.
Key Highlights
- Hurricane impact glass
- 18’ warehouse ceiling height
- One 10’ x 12’ overhead door
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
$21,044
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
3.51%
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%
$420,880
$420.9K
Cap Rate 7%
$300,629
$300.6K
Cap Rate 9%
$233,822
$233.8K
Market Conditions
NOI Build-Up for 2,064 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
$26.0K $12.60/SF
− Vacancy
−$1.2K −$0.60/SF
EGI
$24.8K $12.00/SF
− OpEx
−$3.7K −$1.80/SF
NOI
$21.0K $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%
$420,880
Cap Rate 7%
$300,629
Cap Rate 9%
$233,822
Alternative Uses
Best Use
Warehouse
$300.6K
$263.1K – $350.7K
NOI $21,044 @ 7.0% cap · market cap 3.51%
Second Best
Industrial
$269.2K
$235.5K – $314.0K
NOI $18,842 @ 7.0% cap · market cap 3.14%
Theoretical Best
Office A
$649.6K
$568.4K – $757.9K
NOI $45,474 @ 7.0% cap · market cap 7.58%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Location Intelligence
Trade Area within ½ mile
333
Businesses Nearby
Balanced
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
Market
Vacancy Rate% for Industrial in South region
Questions? Ask Rey
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Frequently Asked Questions
What type of property is this?
Warehouse - Warehouse unit built in 2007 with 18' ceiling height.
Where is this warehouse located?
The property is located at 12960 Commerce Lakes Drive Fort Myers, FL.
What is the asking price?
The asking price for this property is $600,000.
What are key features of this property?
This property features: Hurricane impact glass; 18’ warehouse ceiling height; One 10’ x 12’ overhead door
