Flex Condominium
For Sale
$395,000
12960 Commerce Lakes Dr Unit A26, Fort Myers, FL 33913
One-story commercial space combines finished office and reception areas with warehouse capacity, central HVAC, and an electric overhead door.
Property Size1,475 SF
Price / SF$267.80
Days on Market101
Property Features for 12960 Commerce Lakes Dr Unit A26
General Information
Standard status
Active
Size
1,475 SF
Property subtype
Commercial
Site & Location
Highway Access
Yes
Road Access
Yes
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
Floor
1
HOA Fee
$300
Building Details
Year Built
2007
Stories
1
Construction
tilt-up concrete
Listing Agency:
Phil Deems Real Estate
(239) 945-4540
Listed By:
Philip A Deems · License #258033389
Source:
Naplespropertyguide
Added: May 21
Changed: Aug 28
Last Checked: Aug 29 at 10:30AM
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 1,475 SF industrial/flex condominium unit at 12960 Commerce Lakes Drive, Suite A26, provides a practical combination of finished office and warehouse space. The approximately 355 SF air-conditioned office and reception area includes tile flooring and a half-bath, while the 1,120 SF warehouse features an 18' clear ceiling and a 10' x 14' electric roll-up overhead door. Concrete tilt-up construction, hurricane impact glass windows, and central air conditioning and heating support the building’s functionality. The A/C unit was replaced in 2021, and the property has 3-phase electric service rated at approximately 225 Amps and 208/120 Volts.
Built in 2007, the unit is located in Worthington Park of Commerce in the Gateway area of Fort Myers. Its position off Daniels Parkway provides access to I-75, Southwest Florida International Airport (RSW), and regional corridors. The space is suited to light industrial, warehousing, showroom, contractor, or professional office use.
Built in 2007, the unit is located in Worthington Park of Commerce in the Gateway area of Fort Myers. Its position off Daniels Parkway provides access to I-75, Southwest Florida International Airport (RSW), and regional corridors. The space is suited to light industrial, warehousing, showroom, contractor, or professional office use.
Key Highlights
- 1,475 SF industrial/flex condominium unit with approximately 355 SF of office and 1,120 SF of warehouse space
- Warehouse includes an 18' clear ceiling and one 10' x 14' electric roll‑up overhead door
- 3‑phase electric service rated at approximately 225 Amps and 208/120 Volts
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
Flex RnD
$230.5K
$201.7K – $268.9K
NOI $16,136 @ 7.0% cap · market cap 4.09%
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
Yes
Highway access
Yes
Paved road access
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 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 space combines finished office and reception areas with warehouse capacity, central HVAC, and an electric overhead door.
Where is this flex space located?
The property is located at 12960 Commerce Lakes Dr Unit A26 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 with approximately 355 SF of office and 1,120 SF of warehouse space; Warehouse includes an 18' clear ceiling and one 10' x 14' electric roll‑up overhead door; 3‑phase electric service rated at approximately 225 Amps and 208/120 Volts
