Flex Condominium with
For Sale
$670,140
12165 Metro Pkwy Units 19B - 22B, Fort Myers, FL 33966
Office and warehouse condominium with private restrooms, roll-up doors, vaulted storage, and IL Light Industrial zoning.
Property Size3,942 SF
Price / SF$170
Days on Market47
Property Features for 12165 Metro Pkwy Units 19B - 22B
General Information
Standard status
Active
Size
3,942 SF
Property subtype
Industrial
Zoning
IL
Site & Location
Highway Access
Yes
Road Access
Yes
Additional Details
Warehouse Space
1,305 SF
Amenities
kitchenette
Building Details
Building Size
3,942 SF
Year Built
1985
Parking Ratio
3.32 per 1,000 SF
Listing Agency:
NAI Burns Scalo
Listed By:
Gary Tasman · License #BK3002798
(239) 470-9646
Source:
Naiglobal
Added: Aug 1
Changed: Sep 14
Last Checked: Sep 15 at 7:14AM
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 NAI Burns Scalo
Investment Insights
Based on property information with market context.
This ±3,942-square-foot flex commercial condominium combines office improvements with functional warehouse space. The first and second floors contain 7–8 offices, a second-floor kitchenette, and three private restrooms. The ±1,305-square-foot warehouse area includes two roll-up doors and ±230 square feet of vaulted storage. Built in 1985, the property is zoned IL (Light Industrial) and offers a 3.32/1,000 SF parking ratio.
The condominium is positioned just off Metro Parkway in the South Fort Myers / San Carlos submarket. Colonial Boulevard is accessible to the north, while Daniels Parkway lies to the south, providing connections to US-41 and other major thoroughfares. Nearby properties include office, warehouse, service, and retail uses serving local and regional businesses.
The condominium is positioned just off Metro Parkway in the South Fort Myers / San Carlos submarket. Colonial Boulevard is accessible to the north, while Daniels Parkway lies to the south, providing connections to US-41 and other major thoroughfares. Nearby properties include office, warehouse, service, and retail uses serving local and regional businesses.
Key Highlights
- ±3,942 SF flex commercial condominium with office and warehouse areas
- 7–8 offices, second‑floor kitchenette, and three private restrooms
- ±1,305 SF warehouse with two roll‑up doors
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
$43,124
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
6.44%
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%
$862,480
$862.5K
Cap Rate 7%
$616,057
$616.1K
Cap Rate 9%
$479,156
$479.2K
Market Conditions
NOI Build-Up for 3,942 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
$71.0K $18.00/SF
− Vacancy
−$4.6K −$1.17/SF
EGI
$66.3K $16.83/SF
− OpEx
−$23.2K −$5.89/SF
NOI
$43.1K $10.94/SF
Area
Lee County, FL
Vacancy
6.50%
Lease Rate
$18.00 /SF/Yr
Expense Ratio
35.00%
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%
$862,480
Cap Rate 7%
$616,057
Cap Rate 9%
$479,156
Alternative Uses
Best Use
Office B
$967.8K
$846.8K – $1.13M
NOI $67,743 @ 7.0% cap · market cap 10.11%
Second Best
Flex RnD
$616.1K
$539.1K – $718.7K
NOI $43,124 @ 7.0% cap · market cap 6.44%
Theoretical Best
Office A
$1.24M
$1.09M – $1.45M
NOI $86,850 @ 7.0% cap · market cap 12.96%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Current Use
Lease Details
Yes
Highway access
Yes
Paved road access
Location Intelligence
Trade Area within ½ mile
646
Businesses Nearby
Well-served
Demand for This Use
Explore this area
Business Placement
Demographics for 33966, FL
11,245
Population
7,472
Households
1.5
Avg Household Size
50
Median Age
44%
College-Educated
97%
High-School Grad
8.8 sq mi
ZIP Area
1,278
Density / Sq Mi
$86,812
Median Household Income
$54,302
Median Earnings
$1,743
Median Rent
$362,400
Median Home Value
Market
Vacancy Rate% for Office in South region
Questions? Ask Rey
Realmo’s AI knows this listing — price, zoning, demand, history. Ask anything.
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Frequently Asked Questions
What type of property is this?
Flex space - Office and warehouse condominium with private restrooms, roll-up doors, vaulted storage, and IL Light Industrial zoning.
Where is this flex space located?
The property is located at 12165 Metro Pkwy Units 19B - 22B Fort Myers, FL.
What is the asking price?
The asking price for this property is $670,140.
What are key features of this property?
This property features: ±3,942 SF flex commercial condominium with office and warehouse areas; 7–8 offices, second‑floor kitchenette, and three private restrooms; ±1,305 SF warehouse with two roll‑up doors
