Automated Drive-Up Self-Storage
For Sale
$2,616,250
15415 Pine Ridge Road, Fort Myers, FL 33908
CommercialSale, Fort Myers, FL
Property Size19,720 SF
Lot Size1.24 Acres
Price / SF$132.67
Days on Market61
Property Features for 15415 Pine Ridge Road
General Information
Property type
Commercial Sale
Property subtype
Other
Zoning description
CG
Fencing
Fenced
Directions
GPS Friendly
Subdivision
FM13 - Fort Myers Area
Standard status
Active
APN
32-45-24-00-00021.0080
Lot size
1.24 Acres
Taxes and HOA fees
Tax Year
2025
Tax Description
PARL IN SW 1/4 OF NW 1/4 AS DESC IN OR 1487 PG 2164 LESS R/W INST#2006-310517 + #2016000106369
Tax Annual Amount
19739
Legal Description
PARL IN SW 1/4 OF NW 1/4 AS DESC IN OR 1487 PG 2164 LESS R/W INST#2006-310517 + #2016000106369
Amenities
outdoor RV/vehicle parking
mailbox rentals
Building Details
Year built
1983
Floors in Building
1
Listing Agency:
KW Florida Living · Keller Williams Realty
(239) 236-4350
Listed By:
Martin Hawley · License #288584010
(239) 355-4040
Added: Jun 30
Changed: Aug 27
Last Checked: Aug 29 at 7:06PM
MLS# 2026028242
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.
This self-storage property includes 176 units across three single-story, drive-up concrete-block buildings totaling approximately 19,720 square feet on 1.2412 acres. Customers can pull directly to their units, while outdoor RV and vehicle parking and mailbox rentals add to the site’s operating components. The property is fenced and operates through the Cubby AI platform for online reservations, leasing, payments, and autopay management. A part-time on-site manager receives an apartment as compensation.
The facility occupies a signalized corner at Gladiolus Drive (SR 865) and Pine Ridge Road in south Fort Myers. Gladiolus Drive is a six-lane arterial with approximately 21,300 vehicles per day at the frontage and approximately 44,600 vehicles per day. Split CG/IL zoning supports the existing storage use and expansion concept. Recent capital work includes roofs installed in 2018, exterior paint completed in 2024, asphalt sealcoating in 2025, and a high-efficiency A/C installed in 2026.
The facility occupies a signalized corner at Gladiolus Drive (SR 865) and Pine Ridge Road in south Fort Myers. Gladiolus Drive is a six-lane arterial with approximately 21,300 vehicles per day at the frontage and approximately 44,600 vehicles per day. Split CG/IL zoning supports the existing storage use and expansion concept. Recent capital work includes roofs installed in 2018, exterior paint completed in 2024, asphalt sealcoating in 2025, and a high-efficiency A/C installed in 2026.
Key Highlights
- 176‑unit self‑storage facility with direct drive‑up access
- Three single‑story concrete‑block buildings totaling approx. 19,720 SF
- Located on 1.2412 acres 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
Highway access
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 - Fenced, single-story concrete-block buildings provide direct vehicle access to individual storage units.
Where is this self storage facility located?
The property is located at 15415 Pine Ridge Road 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 with direct drive‑up access; Three single‑story concrete‑block buildings totaling approx. 19,720 SF; Located on 1.2412 acres at Gladiolus Drive (SR 865) and Pine Ridge Road
