Industrial Flex Condominium
For Sale
$395,000
12960 Commerce Lakes Drive, Fort Myers, FL 33913
One-story commercial unit combining finished office space with a warehouse area and electric roll-up access.
Property Size1,475 SF
Price / SF$267.80
Days on Market39
Property Features for 12960 Commerce Lakes Drive
General Information
Standard status
Active
Size
1,475 SF
Property subtype
Office
Warehouse & Industrial
Clear Height
18 ft
Warehouse Space
1,120 SF
Office Build-Out
355 SF
Power
225 amps
Voltage
208 V
Three-Phase Power
Yes
Additional Details
HOA Fee
$300
Highway Access
Yes
Office Units
1
Taxes and HOA fees
Annual Taxes
$4,299
Building Details
Year Built
2007
Stories
1
Construction
tilt-up concrete
Listing Agency:
(239) 478-0056
Listed By:
Phil Deems Real Estate
(239) 478-0056
Source:
Xome
Added: Jul 3
Changed: Aug 10
Last Checked: Aug 10 at 3:32AM
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 Phil Deems Real Estate
Investment Insights
Based on property information with market context.
This one-story industrial flex condominium, built in 2007, combines finished office and warehouse components within a concrete tilt-up structure. The approximately 355 SF air-conditioned office and reception area includes tile flooring and a half-bath, while the approximately 1,120 SF warehouse provides an 18-foot clear ceiling and a 10' x 14' electric roll-up overhead door. Central air conditioning and heating serve the unit, with a new A/C unit installed in 2021.
The property is located in Worthington Park of Commerce in the Gateway area of Fort Myers, off Daniels Parkway. Access to I-75, Southwest Florida International Airport (RSW), and major regional corridors supports a range of commercial operations. Additional features include hurricane impact glass windows and 3-phase electrical service rated at approximately 225 amps and 208/120 volts.
The property is located in Worthington Park of Commerce in the Gateway area of Fort Myers, off Daniels Parkway. Access to I-75, Southwest Florida International Airport (RSW), and major regional corridors supports a range of commercial operations. Additional features include hurricane impact glass windows and 3-phase electrical service rated at approximately 225 amps and 208/120 volts.
Key Highlights
- 1,475 SF industrial/flex condominium unit at 12960 Commerce Lakes Drive, Suite A26
- Approximately 355 SF of air‑conditioned office/reception space plus approximately 1,120 SF of warehouse area
- Warehouse includes an 18' clear ceiling and one 10' x 14' electric roll‑up 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
$25,348
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
6.42%
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%
$506,960
$507.0K
Cap Rate 7%
$362,114
$362.1K
Cap Rate 9%
$281,644
$281.6K
Market Conditions
NOI Build-Up for 1,475 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
$36.8K $24.96/SF
− Vacancy
−$3.0K −$2.05/SF
EGI
$33.8K $22.91/SF
− OpEx
−$8.4K −$5.73/SF
NOI
$25.3K $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%
$506,960
Cap Rate 7%
$362,114
Cap Rate 9%
$281,644
Alternative Uses
Best Use
Office B
$362.1K
$316.9K – $422.5K
NOI $25,348 @ 7.0% cap · market cap 6.42%
Second Best
Retail
$276.4K
$241.9K – $322.5K
NOI $19,349 @ 7.0% cap · market cap 4.90%
Theoretical Best
Office A
$464.2K
$406.2K – $541.6K
NOI $32,497 @ 7.0% cap · market cap 8.23%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
18 ft
Clear height
1
Office units
Yes
Highway access
Location Intelligence
Trade Area within ½ mile
316
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 Office in South region
Questions? Ask Rey
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Frequently Asked Questions
What type of property is this?
Flex space - One-story commercial unit combining finished office space with a warehouse area and electric roll-up access.
Where is this flex space 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 $395,000.
What are key features of this property?
This property features: 1,475 SF industrial/flex condominium unit at 12960 Commerce Lakes Drive, Suite A26; Approximately 355 SF of air‑conditioned office/reception space plus approximately 1,120 SF of warehouse area; Warehouse includes an 18' clear ceiling and one 10' x 14' electric roll‑up overhead door
