Former C-Store on Slater
For Sale
Contact for pricing
16177 Slater Road, North Fort Myers, FL 33917
Former Circle K on almost 1 acre of land.
Property Size2,774 SF
Lot Size0.99 Acres
Price / SF$319.03
Days on Market103
Property Features for 16177 Slater Road
General Information
Standard status
Active
Size
2,774 SF
Class
B
Lot size
0.99 Acres
Property subtype
Retail
Zoning
C-1A
Building Details
Year Built
1976
Listing Agency:
Integrity Real Estate
(239) 763-0294
Listed By:
Lucca Feraci · License #FL
Source:
Crexi
Added: May 19
Changed: Aug 22
Last Checked: Aug 28 at 7:37PM
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 Integrity Real Estate
Investment Insights
Based on property information with market context.
This commercial property, formerly a Circle K convenience store, is available for sale. The property size is 2774 square feet and it is situated on almost 1 acre of land.
Key Highlights
- Former Circle K C‑Store
- Almost 1 acre of land
- Year Built: 1976
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
$44,040
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
4.98%
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%
$880,800
$880.8K
Cap Rate 7%
$629,143
$629.1K
Cap Rate 9%
$489,333
$489.3K
Market Conditions
NOI Build-Up for 2,774 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
$59.9K $21.60/SF
− Vacancy
−$1.2K −$0.43/SF
EGI
$58.7K $21.17/SF
− OpEx
−$14.7K −$5.29/SF
NOI
$44.0K $15.88/SF
Area
Lee County, FL
Vacancy
2.00%
Lease Rate
$21.60 /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%
$880,800
Cap Rate 7%
$629,143
Cap Rate 9%
$489,333
Alternative Uses
Best Use
Specialty Retail
$629.1K
$550.5K – $734.0K
NOI $44,040 @ 7.0% cap · market cap 4.98%
Second Best
Retail
$519.9K
$454.9K – $606.5K
NOI $36,390 @ 7.0% cap · market cap 4.11%
Theoretical Best
Office A
$873.1K
$764.0K – $1.02M
NOI $61,117 @ 7.0% cap · market cap 6.91%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Location Intelligence
Trade Area within ½ mile
165
Businesses Nearby
72k
Monthly Visits Nearby
Under-served
Demand for This Use
Explore this area
Business Placement
Foot Traffic Nearby
Groceries 41%
Dining 32%
Shops & Services 23%
Beauty & Spa 4%
Publix
Groceries
29,354 visits/mo
0.2 miles
McDonald's
Dining
23,062 visits/mo
0.1 miles
Circle K
Shops & Services
16,758 visits/mo
0.1 miles
Fantastic Sams
Beauty & Spa
2,588 visits/mo
0.2 miles
Demographics for 33917, FL
30,702
Population
18,789
Households
1.6
Avg Household Size
61
Median Age
19%
College-Educated
89%
High-School Grad
65.5 sq mi
ZIP Area
469
Density / Sq Mi
$54,198
Median Household Income
$35,670
Median Earnings
$1,320
Median Rent
$170,100
Median Home Value
Market
Vacancy Rate% for Retail in South region
Questions? Ask Rey
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Frequently Asked Questions
What type of property is this?
Grocery and convenience store - Former Circle K on almost 1 acre of land.
Where is this grocery and convenience store located?
The property is located at 16177 Slater Road North Fort Myers, FL.
What is the asking price?
The asking price for this property is $885,000.
What are key features of this property?
This property features: Former Circle K C‑Store; Almost 1 acre of land; Year Built: 1976
