Leased Flex Space
New
For Sale
$600,000
16330 Innovation Ln, Fort Myers, FL 33913
Commercial Sale, FORT MYERS, FL
Property Size2,033 SF
Lot Size0.05 Acres
Price / SF$295.13
Days on Market3
Property Features for 16330 Innovation Ln
General Information
Property type
Commercial Sale
Property subtype
Other
Standard status
Active
APN
06-46-26-L4-17100.1050
Lot size
0.05 Acres
Taxes and HOA fees
Tax Year
2025
Tax Description
INNOVATION AT ITEC II CONDO
Tax Annual Amount
6700
Legal Description
INNOVATION AT ITEC II CONDO
Building Details
Year built
2024
Floors in Building
1
Listing Agency:
Premiere Plus Realty Company
(239) 732-7837
Listed By:
Sam Cohen, LLC
(239) 227-3998
Added: Aug 27
Last Checked: Aug 29 at 1:06PM
MLS# 226031009
Copyright © 2026 Naples Area Board of REALTORS. 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.
Built in 2024, this 2,033 SF flex unit combines air-conditioned workspace with a designated office and reception area. The layout includes 20-foot ceilings, a 29-foot-wide bay, a 14-foot-high by 12-foot-wide electric roll-up door, epoxy flooring, and a glass-front entrance. Building systems include 3-phase electrical service, fire alarm and suppression equipment, and overhead LED lighting. An ADA-compliant bathroom and wide entry access are also provided.
The unit is fully leased through 01/31/2029, with a tenant option to renew, and carries a 6.7% cap rate. Located at 16330 Innovation Ln in Fort Myers, the property is 1.7 miles east of I-75 on Alico Road and minutes from Southwest Florida International Airport (RSW).
The unit is fully leased through 01/31/2029, with a tenant option to renew, and carries a 6.7% cap rate. Located at 16330 Innovation Ln in Fort Myers, the property is 1.7 miles east of I-75 on Alico Road and minutes from Southwest Florida International Airport (RSW).
Key Highlights
- 2,033 SF flex unit fully leased through 01/31/2029
- 6.7% cap rate with tenant option to renew
- 20' ceilings and 29' wide bay
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
$22,240
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
3.71%
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%
$444,800
$444.8K
Cap Rate 7%
$317,714
$317.7K
Cap Rate 9%
$247,111
$247.1K
Market Conditions
NOI Build-Up for 2,033 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
$36.6K $18.00/SF
− Vacancy
−$2.4K −$1.17/SF
EGI
$34.2K $16.83/SF
− OpEx
−$12.0K −$5.89/SF
NOI
$22.2K $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%
$444,800
Cap Rate 7%
$317,714
Cap Rate 9%
$247,111
Alternative Uses
Best Use
Flex RnD
$317.7K
$278.0K – $370.7K
NOI $22,240 @ 7.0% cap · market cap 3.71%
Second Best
Warehouse
$296.1K
$259.1K – $345.5K
NOI $20,728 @ 7.0% cap · market cap 3.45%
Theoretical Best
Office A
$639.9K
$559.9K – $746.5K
NOI $44,791 @ 7.0% cap · market cap 7.47%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
20 ft
Clear height
100%
Occupancy
Yes
Sprinkler system
Location Intelligence
Trade Area within ½ mile
57
Businesses Nearby
Well-served
Demand for This Use
Explore this area
Business Placement
Demographics for 33913, FL
28,216
Population
16,026
Households
1.8
Avg Household Size
54
Median Age
47%
College-Educated
95%
High-School Grad
101.0 sq mi
ZIP Area
279
Density / Sq Mi
$106,925
Median Household Income
$54,341
Median Earnings
$1,914
Median Rent
$439,200
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?
Flex space - Air-conditioned industrial unit with a dedicated office area and electric roll-up loading door.
Where is this flex space located?
The property is located at 16330 Innovation Ln Fort Myers, FL.
What is the asking price?
The asking price for this property is $600,000.
What are key features of this property?
This property features: 2,033 SF flex unit fully leased through 01/31/2029; 6.7% cap rate with tenant option to renew; 20' ceilings and 29' wide bay
