Garage Condo with Oversized
For Sale
$559,000
16255 Pine Ridge Rd Unit 404, Fort Myers, FL 33908
Flexible open-layout space for vehicle storage, workshops, recreation, or a private clubhouse setting.
Property Size2,100 SF
Price / SF$266.19
Days on Market168
Property Features for 16255 Pine Ridge Rd Unit 404
General Information
Standard status
Active
Size
2,100 SF
Property subtype
Commercial
Building Details
Year Built
2026
Listing Agency:
Royal Shell Real Estate, Inc.
(239) 850-7888
Listed By:
Michael McMurray · License #280500145
Source:
Napleshomesearches
Added: Mar 15
Changed: Aug 28
Last Checked: Aug 28 at 8:24PM
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 Royal Shell Real Estate, Inc.
Investment Insights
Based on property information with market context.
This 2,100-square-foot garage condo offers a large, adaptable interior for vehicle storage, equipment, workshop functions, or personal amenity space. Soaring ceilings and oversized access doors support automotive collections, boats, RVs, motorcycles, lifts, and recreational equipment. The open floor plan can also accommodate a lounge, sports bar, golf simulator, office, fitness area, or custom second-floor mezzanine.
Located at 16255 Pine Ridge Rd Unit 404 in Fort Myers, the property provides access to major roadways. Built in 2026, the unit is positioned as a secure, low-maintenance setting for storage, business activities, recreation, and private entertaining.
Located at 16255 Pine Ridge Rd Unit 404 in Fort Myers, the property provides access to major roadways. Built in 2026, the unit is positioned as a secure, low-maintenance setting for storage, business activities, recreation, and private entertaining.
Key Highlights
- 2,100‑square‑foot garage condo
- Oversized access doors and soaring ceilings
- Open interior supports vehicle storage, workshops, lifts, and recreational equipment
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
$22,973
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
4.11%
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%
$459,460
$459.5K
Cap Rate 7%
$328,186
$328.2K
Cap Rate 9%
$255,256
$255.3K
Market Conditions
NOI Build-Up for 2,100 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
$37.8K $18.00/SF
− Vacancy
−$2.5K −$1.17/SF
EGI
$35.3K $16.83/SF
− OpEx
−$12.4K −$5.89/SF
NOI
$23.0K $10.94/SF
Area
Lee County, FL
Vacancy
6.50%
Lease Rate
$18.00 /SF/Yr
Expense Ratio
35.00%
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%
$459,460
Cap Rate 7%
$328,186
Cap Rate 9%
$255,256
Alternative Uses
Best Use
Flex RnD
$328.2K
$287.2K – $382.9K
NOI $22,973 @ 7.0% cap · market cap 4.11%
Second Best
Industrial
$273.9K
$239.6K – $319.5K
NOI $19,170 @ 7.0% cap · market cap 3.43%
Theoretical Best
Office A
$661.0K
$578.3K – $771.1K
NOI $46,267 @ 7.0% cap · market cap 8.28%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Current Use
Location Intelligence
Trade Area within ½ mile
551
Businesses Nearby
Balanced
Demand for This Use
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
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Similar Off Market Nearby
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- U-Haul Neighborhood Dealer — 11571 Gladiolus Dr, Fort Myers, FL 33908
Frequently Asked Questions
What type of property is this?
Parking lot & garage - Flexible open-layout space for vehicle storage, workshops, recreation, or a private clubhouse setting.
Where is this parking lot & garage located?
The property is located at 16255 Pine Ridge Rd Unit 404 Fort Myers, FL.
What is the asking price?
The asking price for this property is $559,000.
What are key features of this property?
This property features: 2,100‑square‑foot garage condo; Oversized access doors and soaring ceilings; Open interior supports vehicle storage, workshops, lifts, and recreational equipment
