Flex Space with Solar
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13371 McGregor Boulevard, Fort Myers, FL 33919
Commercial flex property combining retail, office, warehouse, covered parking, and backup power in a high-exposure corridor.
Property Size4,080 SF
Price / SF$367.65
Days on Market7
Property Features for 13371 McGregor Boulevard
General Information
Standard status
Active
Size
4,080 SF
Property subtype
Retail, Office
Zoning
Commercial (C-1) and CC
Investment Type
Owner/User
Building Details
Year Built
1998
Buildings
2
Stories
1
Tenancy
Single
Listing Agency:
LSI Companies
Listed By:
Mike Trivett · License #FL SL3518487
(239) 940-3171
Source:
Crexi
Added: Aug 28
Changed: Sep 1
Last Checked: Sep 1 at 9:41PM
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 LSI Companies
Investment Insights
Based on property information with market context.
This 4,080-square-foot flex property includes retail and office areas, warehouse space, 566 square feet of mezzanine storage, and covered parking. The building has 300-amp electrical service, solar power, an on-site backup generator, and an updated security monitoring system. An electric-served pylon sign has already been permitted for installation.
The 1.09-acre property offers approximately 177 feet of frontage on McGregor Boulevard and exposure to about 35,000 vehicles per day. It is less than 3 miles west of US-41 and approximately 1.3 miles from the Cape Coral Bridge, supporting access between Fort Myers and Cape Coral. The existing business is expected to relocate after the sale, allowing the next owner to plan for a new occupancy or use, subject to approvals. Built in 1998.
The 1.09-acre property offers approximately 177 feet of frontage on McGregor Boulevard and exposure to about 35,000 vehicles per day. It is less than 3 miles west of US-41 and approximately 1.3 miles from the Cape Coral Bridge, supporting access between Fort Myers and Cape Coral. The existing business is expected to relocate after the sale, allowing the next owner to plan for a new occupancy or use, subject to approvals. Built in 1998.
Key Highlights
- 1.09± acres with approximately 177'± of McGregor Boulevard frontage
- 4,080± Sq. Ft. commercial building plus 566± Sq. Ft. mezzanine storage
- Exposure to approximately 35,000 vehicles per day
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
$70,115
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
4.67%
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%
$1,402,300
$1.4M
Cap Rate 7%
$1,001,643
$1.0M
Cap Rate 9%
$779,056
$779.1K
Market Conditions
NOI Build-Up for 4,080 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
$101.8K $24.96/SF
− Vacancy
−$8.4K −$2.05/SF
EGI
$93.5K $22.91/SF
− OpEx
−$23.4K −$5.73/SF
NOI
$70.1K $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%
$1,402,300
Cap Rate 7%
$1,001,643
Cap Rate 9%
$779,056
Alternative Uses
Best Use
Office B
$1.00M
$876.4K – $1.17M
NOI $70,115 @ 7.0% cap · market cap 4.67%
Second Best
Retail
$764.6K
$669.0K – $892.1K
NOI $53,523 @ 7.0% cap · market cap 3.57%
Theoretical Best
Office A
$1.28M
$1.12M – $1.50M
NOI $89,891 @ 7.0% cap · market cap 5.99%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Location Intelligence
Trade Area within ½ mile
842
Businesses Nearby
Under-served
Demand for This Use
Explore this area
Business Placement
Demographics for 33919, FL
30,587
Population
19,560
Households
1.6
Avg Household Size
57
Median Age
41%
College-Educated
95%
High-School Grad
8.7 sq mi
ZIP Area
3,516
Density / Sq Mi
$73,336
Median Household Income
$48,686
Median Earnings
$1,621
Median Rent
$291,500
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 - Commercial flex property combining retail, office, warehouse, covered parking, and backup power in a high-exposure corridor.
Where is this flex space located?
The property is located at 13371 McGregor Boulevard Fort Myers, FL.
What is the asking price?
The asking price for this property is $1,500,000.
What are key features of this property?
This property features: 1.09± acres with approximately 177'± of McGregor Boulevard frontage; 4,080± Sq. Ft. commercial building plus 566± Sq. Ft. mezzanine storage; Exposure to approximately 35,000 vehicles per day
