Industrial Flex Building with Three
For Sale
Contact for pricing
17131 Alico Center Rd, Fort Myers, FL 33967
IL-zoned flex property with multiple suites and an owner-user occupancy option.
Property Size11,335 SF
Price / SF$250
Days on Market145
Property Features for 17131 Alico Center Rd
General Information
Standard status
Active
Size
11,335 SF
Property subtype
Industrial
Zoning
IL
Investment Type
Owner/User
Building Details
Year Built
1999
Buildings
1
Stories
1
Units
3
Building Size
11,335 SF
Listing Agency:
Blueprint Asset Management
Listed By:
Mike Haupert · License #SL3268524
Source:
Crexi
Added: Apr 10
Changed: Aug 30
Last Checked: Aug 30 at 10:27PM
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 Blueprint Asset Management
Investment Insights
Based on property information with market context.
Built in 1999, this 11,335-square-foot flex warehouse is arranged as three separate units within an industrial building. Unit 1 contains 6,197 square feet, while Unit 2 provides 2,504 square feet and Unit 3 contains 2,634 square feet.
Unit 1 is occupied under a lease expiring 1/31/2027, with the tenant not renewing. Unit 2 is also leased through 1/31/2027 and may be suitable for owner-user occupancy. Unit 3 has a five-year lease in place. The property is zoned IL and is positioned for an end-user or owner-user acquisition strategy.
Unit 1 is occupied under a lease expiring 1/31/2027, with the tenant not renewing. Unit 2 is also leased through 1/31/2027 and may be suitable for owner-user occupancy. Unit 3 has a five-year lease in place. The property is zoned IL and is positioned for an end-user or owner-user acquisition strategy.
Key Highlights
- 11,335‑square‑foot industrial/flex warehouse building
- Three units totaling 11,335 square feet
- Unit 1 contains 6,197 square feet; lease expires 1/31/2027 and tenant is not renewing
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
$123,999
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
4.38%
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%
$2,479,980
$2.5M
Cap Rate 7%
$1,771,414
$1.8M
Cap Rate 9%
$1,377,767
$1.4M
Market Conditions
NOI Build-Up for 11,335 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
$204.0K $18.00/SF
− Vacancy
−$13.3K −$1.17/SF
EGI
$190.8K $16.83/SF
− OpEx
−$66.8K −$5.89/SF
NOI
$124.0K $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%
$2,479,980
Cap Rate 7%
$1,771,414
Cap Rate 9%
$1,377,767
Alternative Uses
Best Use
Flex RnD
$1.77M
$1.55M – $2.07M
NOI $123,999 @ 7.0% cap · market cap 4.38%
Second Best
Warehouse
$1.65M
$1.44M – $1.93M
NOI $115,571 @ 7.0% cap · market cap 4.08%
Theoretical Best
Office A
$3.57M
$3.12M – $4.16M
NOI $249,733 @ 7.0% cap · market cap 8.81%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Location Intelligence
Trade Area within ½ mile
651
Businesses Nearby
Well-served
Demand for This Use
Explore this area
Business Placement
Demographics for 33967, FL
28,174
Population
11,685
Households
2.4
Avg Household Size
35
Median Age
36%
College-Educated
92%
High-School Grad
7.6 sq mi
ZIP Area
3,707
Density / Sq Mi
$84,787
Median Household Income
$48,792
Median Earnings
$1,695
Median Rent
$321,800
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.
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Frequently Asked Questions
What type of property is this?
Flex space - IL-zoned flex property with multiple suites and an owner-user occupancy option.
Where is this flex space located?
The property is located at 17131 Alico Center Rd Fort Myers, FL.
What is the asking price?
The asking price for this property is $2,833,750.
What are key features of this property?
This property features: 11,335‑square‑foot industrial/flex warehouse building; Three units totaling 11,335 square feet; Unit 1 contains 6,197 square feet; lease expires 1/31/2027 and tenant is not renewing
