Building Details

Building Size 5,616 SF

Year Built 1996

Listed By: Brock Rasmussen, SIOR Show Phone

Source: Lee-associates

Added: Jun 29 Changed: Oct 15 Last Checked: Oct 14 at 9:42PM

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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 Brock Rasmussen, SIOR

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Investment Insights

Based on property information with market context.

This flex property contains two industrial units within a 1996-built building. The rear unit measures 3,000 SF, is vacant, and includes a fenced-in yard area. The front unit measures 2,616 SF and is leased through a renewal date of December 1, 2026. The building also features a new roof completed in 2026.

Light industrial zoning applies to the property. The two-unit configuration provides separate front and rear spaces, with the rear unit available for occupancy or leasing and the front unit currently leased.

Key Highlights

• Two‑unit flex building with 5,616 SF combined unit area
• 3,000 SF rear unit is vacant and includes a fenced‑in yard area
• 2,616 SF front unit is leased through December 1, 2026

Financial Insights

Estimated NOI and Cap Rate

NOI / Yr

$61,436

Cap Rate

3.07%

Suggested Prices Based on Cap Rates

Cap Rate 5%

$1,228,720 $1.2M

Cap Rate 7%

$877,657 $877.7K

Cap Rate 9%

$682,622 $682.6K

Is this asking price fair?

Market Conditions

NOI Build-Up for 5,616 SF

Gross rent

$101.1K $18.00/SF

− Vacancy

−$6.6K −$1.17/SF

EGI

$94.5K $16.83/SF

− OpEx

−$33.1K −$5.89/SF

NOI

$61.4K $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 Rate 5%

$1,228,720

Cap Rate 7%

$877,657

Cap Rate 9%

$682,622

Alternative Uses

Best Use

Flex RnD

$877.7K

$768.0K – $1.02M (±1% cap)

NOI $61,436 @ 7.0% cap · market cap 3.07%

Second Best

Industrial

$732.4K

$640.8K – $854.5K (±1% cap)

NOI $51,267 @ 7.0% cap · market cap 2.56%

Theoretical Best

Office A

$1.77M

$1.55M – $2.06M (±1% cap)

NOI $123,732 @ 7.0% cap · market cap 6.19%

Zoning and permitted uses should be independently verified with authorities. How Realmo checks its estimates

Property Analytics

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Current Use

International Brotherhood Of Electrical ... Advocacy Group Gutter Revolution, LLC Construction Company Wintex Industries Inc Roofing Company

Suggested Use

Top Pick Restaurant Real Estate Agency Law Firm Pharmacy Dental Office Hair Salon

Score = modeled unmet demand for each use within ~1 mi (higher = bigger opportunity). Zoning and permitted uses should be independently verified with local authorities.

Lease Details

Yes

Fenced yard

Location Intelligence

Trade Area within ½ mile

642

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

6% 2019

6.5% 2020

4% 2021

3.5% 2022

6% 2023

7.6% 2024

7.9% 2025

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Similar Off Market Nearby

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Frequently Asked Questions

What type of property is this?

Flex space - Light industrial zoning accompanies a fenced yard and separate front and rear units.

Where is this flex space located?

The property is located at 17221 Alico Center Rd Fort Myers, FL.

What is the asking price?

The asking price for this property is $2,000,000.

What are key features of this property?

This property features: Two‑unit flex building with 5,616 SF combined unit area; 3,000 SF rear unit is vacant and includes a fenced‑in yard area; 2,616 SF front unit is leased through December 1, 2026