Automated Drive-Up Self-Storage
For Sale
Contact for pricing
15415 Pine Ridge RD, Fort Myers, FL 33908
Three concrete-block buildings provide direct vehicle access, outdoor RV parking, and online tenant management.
Property Size19,720 SF
Lot Size1.24 Acres
Price / SF$132.67
Days on Market48
Property Features for 15415 Pine Ridge RD
General Information
Standard status
Active
Size
19,720 SF
Lot size
1.24 Acres
Property subtype
Industrial
Zoning
CG/IL
Occupancy
84%
Financials
Asking Price
$2,616,250
Cap Rate
6%
Site & Location
Road Access
Yes
Outdoor Storage
Yes
Additional Details
Self-Storage Units
176
Taxes and HOA fees
Annual Taxes
$19,739
Amenities
outdoor RV/vehicle parking
mailbox rentals
Building Details
Building Size
19,720 SF
Year Built
1983
Buildings
3
Stories
1
Construction
concrete block
Listing Agency:
KW Florida Living
(239) 355-4040
Listed By:
Martin Hawley · License #288584010
(239) 355-4040
Source:
Thefullerproperties
Added: Jun 30
Changed: Aug 15
Last Checked: Aug 15 at 12:37PM
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 KW Florida Living
Investment Insights
Based on property information with market context.
This self-storage facility includes 176 units across three single-story, drive-up concrete-block buildings totaling approximately 19,720 SF on 1.24 acres. Customers can reach units directly by vehicle, while outdoor RV and vehicle parking and mailbox rentals add to the property’s service mix. The operation uses the Cubby AI platform for reservations, leasing, payments, autopay, and revenue management. A part-time manager occupies an on-site apartment, and SafeLease tenant protection provides ancillary income.
The property occupies a signalized corner at Gladiolus Drive (SR 865) and Pine Ridge Road in south Fort Myers. Frontage traffic is reported at roughly 21,300 vehicles per day, with approximately 44,600 vehicles per day on Gladiolus Drive. Split CG/IL zoning supports the existing storage use and expansion concept. Improvements include roofs installed in 2018, exterior paint completed in 2024, asphalt sealcoating in 2025, and a high-efficiency A/C installed in 2026. The site is in Flood Zone AE and reportedly experienced no flooding during Hurricanes Ian, Milton, or Helene.
The property occupies a signalized corner at Gladiolus Drive (SR 865) and Pine Ridge Road in south Fort Myers. Frontage traffic is reported at roughly 21,300 vehicles per day, with approximately 44,600 vehicles per day on Gladiolus Drive. Split CG/IL zoning supports the existing storage use and expansion concept. Improvements include roofs installed in 2018, exterior paint completed in 2024, asphalt sealcoating in 2025, and a high-efficiency A/C installed in 2026. The site is in Flood Zone AE and reportedly experienced no flooding during Hurricanes Ian, Milton, or Helene.
Key Highlights
- 176‑unit self‑storage facility on 1.24 acres
- Approximately 19,720 SF in three single‑story, drive‑up concrete‑block buildings
- Signalized corner at Gladiolus Drive (SR 865) and Pine Ridge Road
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
$207,971
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
7.95%
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%
$4,159,420
$4.2M
Cap Rate 7%
$2,971,014
$3.0M
Cap Rate 9%
$2,310,789
$2.3M
Market Conditions
NOI Build-Up for 19,720 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
$319.5K $16.20/SF
− Vacancy
−$22.4K −$1.13/SF
EGI
$297.1K $15.07/SF
− OpEx
−$89.1K −$4.52/SF
NOI
$208.0K $10.55/SF
Area
Lee County, FL
Vacancy
7.00%
Lease Rate
$16.20 /SF/Yr
Expense Ratio
30.00%
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%
$4,159,420
Cap Rate 7%
$2,971,014
Cap Rate 9%
$2,310,789
Alternative Uses
Best Use
Self Storage
$2.97M
$2.60M – $3.47M
NOI $207,971 @ 7.0% cap · market cap 7.95%
Second Best
Warehouse
$2.87M
$2.51M – $3.35M
NOI $201,064 @ 7.0% cap · market cap 7.69%
Theoretical Best
Office A
$6.21M
$5.43M – $7.24M
NOI $434,471 @ 7.0% cap · market cap 16.61%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
84%
Occupancy
Yes
Paved road access
Location Intelligence
Trade Area within ½ mile
645
Businesses Nearby
Explore this area
Business Placement
Demographics for 33908, FL
43,110
Population
32,067
Households
1.3
Avg Household Size
63
Median Age
44%
College-Educated
96%
High-School Grad
34.2 sq mi
ZIP Area
1,261
Density / Sq Mi
$74,711
Median Household Income
$50,063
Median Earnings
$1,829
Median Rent
$346,200
Median Home Value
Market
Vacancy Rate% for Industrial in South region
Questions? Ask Rey
Realmo’s AI knows this listing — price, zoning, demand, history. Ask anything.
Frequently Asked Questions
What type of property is this?
Self storage facility - Three concrete-block buildings provide direct vehicle access, outdoor RV parking, and online tenant management.
Where is this self storage facility located?
The property is located at 15415 Pine Ridge RD Fort Myers, FL.
What is the asking price?
The asking price for this property is $2,616,250.
What are key features of this property?
This property features: 176‑unit self‑storage facility on 1.24 acres; Approximately 19,720 SF in three single‑story, drive‑up concrete‑block buildings; Signalized corner at Gladiolus Drive (SR 865) and Pine Ridge Road
