Listing Agency: Lee & Associates | Fort Myers Show Phone

Listed By: Robert Johnston Show Phone

Source: Moodyscre

Added: Jun 30, 2025 Changed: Oct 8 Last Checked: Oct 15 at 12:07AM

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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 2,500 square foot end-unit office condo is available for sale. Constructed in 2008, the property features a 100% office build-out. The space is fully sprinklered and zoned IPD. The property has new paint throughout.

Key Highlights

• End‑unit condo
• 100% office build‑out
• Zoned IPD

Financial Insights

Estimated NOI and Cap Rate

NOI / Yr

$42,962

Cap Rate

6.61%

Suggested Prices Based on Cap Rates

Cap Rate 5%

$859,240 $859.2K

Cap Rate 7%

$613,743 $613.7K

Cap Rate 9%

$477,356 $477.4K

Market Conditions

NOI Build-Up for 2,500 SF

Gross rent

$62.4K $24.96/SF

− Vacancy

−$5.1K −$2.05/SF

EGI

$57.3K $22.91/SF

− OpEx

−$14.3K −$5.73/SF

NOI

$43.0K $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 Rate 5%

$859,240

Cap Rate 7%

$613,743

Cap Rate 9%

$477,356

Alternative Uses

Best Use

Office B

$613.7K

$537.0K – $716.0K (±1% cap)

NOI $42,962 @ 7.0% cap · market cap 6.61%

Second Best

—

—

no second resolved use

Theoretical Best

Office A

$786.9K

$688.5K – $918.0K (±1% cap)

NOI $55,080 @ 7.0% cap · market cap 8.47%

Zoning and permitted uses should be independently verified with authorities. How Realmo checks its estimates

Property Analytics

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Current Use

Office Units

Suggested Use

Top Pick Storage Facility Veterinary Clinic (Bike/Boat/Book/etc) Store Bakery Carpet & Flooring Store Pet Grooming Service

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

Location Intelligence

Trade Area within ½ mile

2,394

Businesses Nearby

Explore this area Business Placement

Market

Vacancy Rate% for Office in South region

14.4% 2019

16.4% 2020

17.3% 2021

18% 2022

18.6% 2023

20.3% 2024

20.2% 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 office units 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?

Office units - 2,500 SF office condo with 100% office build-out.

Where is this office units located?

The property is located at 16121 Lee Fort Myers, FL.

What is the asking price?

The asking price for this property is $650,000.

What are key features of this property?

This property features: End‑unit condo; 100% office build‑out; Zoned IPD