Flex Condominium with Roll-Up
For Sale
$395,000
12960 Commerce Lakes Drive, Fort Myers, FL 33913
COMMERCIAL - Fort Myers, FL
Property Size1,475 SF
Lot Size1.13 Acres
Price / SF$267.80
Days on Market50
Property Features for 12960 Commerce Lakes Drive
General Information
Property type
Commercial Sale
Property subtype
Office
Directions
From I-75, Travel East on Daniels Parkway from I-75 for approximately 4 miles, turn north (left) onto Commerce Lakes Drive. Property will be on your left.
Subdivision
GA01 - Gateway
Standard status
Active
APN
18-45-26-33-0000A.0A26
Lot size
1.13 Acres
Taxes and HOA fees
Tax Year
2025
Tax Description
DANIELS INDUSTRIAL CONDOMINIUM DESC IN INST#2007000266010 BLDG A UNIT A26
Tax Annual Amount
4299
Legal Description
DANIELS INDUSTRIAL CONDOMINIUM DESC IN INST#2007000266010 BLDG A UNIT A26
Building Details
Year built
2007
Floors in Building
1
Listing Agency:
Phil Deems Real Estate
(239) 945-4545
Listed By:
Philip A Deems · License #258033389
(239) 478-0056
Added: Jul 6
Changed: Aug 4
Last Checked: Aug 24 at 1:06PM
MLS# 2026029042
Copyright © 2026 Florida Gulf Coast Multiple Listing Service, Inc. All rights reserved. All information provided by the listing agent/broker is deemed reliable but is not guaranteed and should be independently verified.
Investment Insights
Based on property information with market context.
Suite A26 is a one-story industrial/flex condominium unit built in 2007, combining finished office space with warehouse functionality. The unit includes approximately 355 SF of air-conditioned office/reception area with tile flooring and a half-bath, along with approximately 1,120 SF of warehouse space. Warehouse height is 18' clear, supported by concrete tilt-up construction and a single 10' x 14' electric roll-up overhead door. Hurricane impact glass windows are included, and the unit is served by central air conditioning and heating, with a new A/C unit installed in 2021. Electrical service is described as 3-phase at approximately 225 amps (208/120 volts).
Located at 12960 Commerce Lakes Drive within the established Worthington Park of Commerce in the Gateway area, the property offers quick access to Daniels Parkway and I-75, as well as Southwest Florida International Airport (RSW) and other major regional corridors.
This layout supports tenants needing both workspace and storage, including light industrial, warehousing, showroom, contractor, or professional office users. The inclusion of a dedicated office/reception area and practical dock-door access helps balance day-to-day operations with client or staff needs. Quarterly CAM fees are reported as $900 for the condominium association.
Located at 12960 Commerce Lakes Drive within the established Worthington Park of Commerce in the Gateway area, the property offers quick access to Daniels Parkway and I-75, as well as Southwest Florida International Airport (RSW) and other major regional corridors.
This layout supports tenants needing both workspace and storage, including light industrial, warehousing, showroom, contractor, or professional office users. The inclusion of a dedicated office/reception area and practical dock-door access helps balance day-to-day operations with client or staff needs. Quarterly CAM fees are reported as $900 for the condominium association.
Key Highlights
- 1,475 SF one‑story industrial/flex condominium unit built in 2007 at 12960 Commerce Lakes Drive, Suite A26 (Worthington Park of Commerce).
- Includes approx. 355 SF air‑conditioned office/reception with tile flooring plus a half‑bath.
- Warehouse area totals approx. 1,120 SF with 18' clear ceiling height 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
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
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Frequently Asked Questions
What type of property is this?
Flex space - Versatile industrial-flex unit with built-in office space and a 10' x 14' roll-up overhead door for light commercial use.
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 one‑story industrial/flex condominium unit built in 2007 at 12960 Commerce Lakes Drive, Suite A26 (Worthington Park of Commerce).; Includes approx. 355 SF air‑conditioned office/reception with tile flooring plus a half‑bath.; Warehouse area totals approx. 1,120 SF with 18' clear ceiling height and one 10' x 14' electric roll‑up overhead door.
