Building Details

Building Size 5,835 SF

Tenancy Multi

Listing Agency: Lee & Associates | Fort Myers

Listed By: Zachary Tillery Show Phone

Source: Lee-associates

Added: Sep 11 Changed: Oct 1 Last Checked: Oct 7 at 9:54AM

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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 Lee & Associates | Fort Myers

Investment Insights

Based on property information with market context.

This 5,835 SF mixed-use property combines retail, office, and flex space in a multi-tenant building on 0.38 acres. The property includes 2,500 SF available for lease, eight parking spaces, and site access from Mildred Drive. Potential applications identified for the building include HVAC, flooring, showroom, building and trade supply, and printing operations.

The property is in Fort Myers near Cleveland Avenue (US 41), positioned just northwest of Colonial Boulevard. It is zoned CI, or Commercial Intensive, within the city of Fort Myers, providing a commercial setting for the stated retail, office, flex, and trade-related uses.

Key Highlights

• 5,835 SF multi‑tenant retail, office, and flex building
• 2,500 SF available for lease
• Situated on 0.38 acres with eight parking spaces

Financial Insights

Estimated NOI and Cap Rate

NOI / Yr

$71,989

Cap Rate

9.00%

Suggested Prices Based on Cap Rates

Cap Rate 5%

$1,439,780 $1.4M

Cap Rate 7%

$1,028,414 $1.0M

Cap Rate 9%

$799,878 $799.9K

Market Conditions

NOI Build-Up for 5,835 SF

Gross rent

$122.5K $21.00/SF

− Vacancy

−$7.4K −$1.26/SF

EGI

$115.2K $19.74/SF

− OpEx

−$43.2K −$7.40/SF

NOI

$72.0K $12.34/SF

Area

Lee County, FL

Vacancy

6.00%

Lease Rate

$21.00 /SF/Yr

Expense Ratio

37.50%

Simulate Cap Rate and NOI

Suggested Prices Based on Cap Rates

Cap Rate 5%

$1,439,780

Cap Rate 7%

$1,028,414

Cap Rate 9%

$799,878

Alternative Uses

Best Use

Retail

$1.09M

$956.8K – $1.28M (±1% cap)

NOI $76,545 @ 7.0% cap · market cap 9.57%

Second Best

Mixed Use

$1.03M

$899.9K – $1.20M (±1% cap)

NOI $71,989 @ 7.0% cap · market cap 9.00%

Theoretical Best

Office A

$1.84M

$1.61M – $2.14M (±1% cap)

NOI $128,557 @ 7.0% cap · market cap 16.07%

Zoning and permitted uses should be independently verified with authorities.

Property Analytics

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Current Use

Top Treatment (Bike/Boat/Book/etc) Store

Suggested Use

Top Pick Electrical Service (Bike/Boat/Book/etc) Store Parking Lot & Garage Butcher Florist Restaurant

Score = modeled unmet demand for each use within ~1 mi (higher = bigger opportunity). Zoning and permitted uses should be independently verified with local authorities.

Lease Details

Multi-tenant

Tenancy

Yes

Paved road access

Location Intelligence

Trade Area within ½ mile

1,867

Businesses Nearby

Explore this area Business Placement

Demographics for 33901, FL

22,629

Population

11,709

Households

1.9

Avg Household Size

43

Median Age

29%

College-Educated

83%

High-School Grad

6.2 sq mi

ZIP Area

3,650

Density / Sq Mi

$51,579

Median Household Income

$37,233

Median Earnings

$1,291

Median Rent

$280,400

Median Home Value

Market

Vacancy Rate% for Industrial in South region

6% 2019

6.5% 2020

4% 2021

3.5% 2022

6% 2023

7.6% 2024

7.9% 2025

Questions? Ask Rey

Realmo’s AI knows this listing — price, zoning, demand, history. Ask anything.

What type of property is this? Where is this mixed-use properties located? What is the asking price? Find similar properties What are key features of this property?

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Frequently Asked Questions

What type of property is this?

Mixed-use property - Commercial-intensive zoning and Mildred Drive access support varied retail, office, flex, and trade-oriented uses.

Where is this mixed-use property located?

The property is located at 50 Mildred Dr Fort Myers, FL.

What is the asking price?

The asking price for this property is $800,000.

What are key features of this property?

This property features: 5,835 SF multi‑tenant retail, office, and flex building; 2,500 SF available for lease; Situated on 0.38 acres with eight parking spaces