Class A Industrial Flex
New
For Sale
$2,250,000
16360 Innovation Ln, Fort Myers, FL 33913
Commercial Sale, FORT MYERS, FL
Property Size8,295 SF
Lot Size0.06 Acres
Price / SF$271.25
Days on Market1
Property Features for 16360 Innovation Ln
General Information
Property type
Commercial Sale
Property subtype
Other
Standard status
Active
APN
07-46-26-L3-1500C.0105
Lot size
0.06 Acres
Taxes and HOA fees
Tax Year
2025
Tax Description
INNOVATION AT ITEC K LAND COND
Tax Annual Amount
4318
Legal Description
INNOVATION AT ITEC K LAND COND
Building Details
Year built
2022
Floors in Building
1
Listing Agency:
Premiere Plus Realty Company
(239) 732-7837
Listed By:
Sam Cohen, LLC · License #SL3351298
(239) 227-3998
Added: Sep 8
Last Checked: Sep 8 at 10:06PM
MLS# 226032365
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 2022, this single-tenant flex property at 16360 Innovation Ln in Fort Myers comprises three adjoining units within an industrial development. The interiors are fully air-conditioned and finished for a range of commercial functions, including warehouse, distribution, showroom, contractor, service, storage, and light-manufacturing use. Construction includes impact-resistant windows and doors, 160-MPH wind-rated standards, and fire suppression. The property is located outside the floodplain.
The asset is leased to one tenant and produces a 6.25% cap rate with 3% annual rent escalations. The lease includes an option to renew for an additional 3 years. The Fort Myers location is in ZIP Code 33913, within Lee County, Florida.
The asset is leased to one tenant and produces a 6.25% cap rate with 3% annual rent escalations. The lease includes an option to renew for an additional 3 years. The Fort Myers location is in ZIP Code 33913, within Lee County, Florida.
Key Highlights
- Single tenant occupies three consecutive flex units
- 8,295 SF total building area
- 6.25% current cap rate with 3% annual rent escalations
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
$90,743
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
4.03%
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%
$1,814,860
$1.8M
Cap Rate 7%
$1,296,329
$1.3M
Cap Rate 9%
$1,008,256
$1.0M
Market Conditions
NOI Build-Up for 8,295 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
$149.3K $18.00/SF
− Vacancy
−$9.7K −$1.17/SF
EGI
$139.6K $16.83/SF
− OpEx
−$48.9K −$5.89/SF
NOI
$90.7K $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%
$1,814,860
Cap Rate 7%
$1,296,329
Cap Rate 9%
$1,008,256
Alternative Uses
Best Use
Flex RnD
$1.30M
$1.13M – $1.51M
NOI $90,743 @ 7.0% cap · market cap 4.03%
Second Best
Warehouse
$1.21M
$1.06M – $1.41M
NOI $84,575 @ 7.0% cap · market cap 3.76%
Theoretical Best
Office A
$2.61M
$2.28M – $3.05M
NOI $182,755 @ 7.0% cap · market cap 8.12%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
Single-tenant
Tenancy
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 - Three connected units provide air-conditioned space for warehouse, distribution, showroom, and light-manufacturing operations.
Where is this flex space located?
The property is located at 16360 Innovation Ln Fort Myers, FL.
What is the asking price?
The asking price for this property is $2,250,000.
What are key features of this property?
This property features: Single tenant occupies three consecutive flex units; 8,295 SF total building area; 6.25% current cap rate with 3% annual rent escalations
