Mixed-Use Live-Work
For Sale
Contact for pricing
1920 Victoria Ave, Fort Myers, FL 33901
Office and residential components create a flexible owner-occupant configuration in a neighborhood commercial setting.
Property Size1,686 SF
Price / SF$385.53
Days on Market123
Property Features for 1920 Victoria Ave
General Information
Standard status
Active
Size
1,686 SF
Property subtype
Multifamily, Office
Zoning
Neighborhood Commercial
Investment Type
Owner/User
Building Details
Year Built
1923
Buildings
1
Units
1
Tenancy
Single
Listing Agency:
LSI Companies
(239) 848-2050
Listed By:
Alex Henderson · License #BK3302793
Source:
Crexi
Added: May 1
Changed: Aug 30
Last Checked: Aug 30 at 4:40AM
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 LSI Companies
Investment Insights
Based on property information with market context.
Built in 1923, this mixed-use property combines professional office space with a renovated 2-bed/1-bath apartment. The office component includes an entry foyer, two private offices, and a conference room oriented toward Victoria Ave, while parking is located at the front of the building. The apartment is occupied on a month-to-month basis, and green space behind the residential portion is included with the property.
The property is positioned along Victoria Ave near Clifford St, one block from US-41 and McGregor Blvd. Nearby destinations include a Publix Shopping Center 0.1± miles away, the Caloosa Sound Convention Center and Lee County Courthouse at 0.7± miles, Fort Myers City Hall at 0.8± miles, Lee Memorial Hospital at 0.9± miles, and I-75 at 4.7± miles. Zoning is Neighborhood Commercial.
The property is positioned along Victoria Ave near Clifford St, one block from US-41 and McGregor Blvd. Nearby destinations include a Publix Shopping Center 0.1± miles away, the Caloosa Sound Convention Center and Lee County Courthouse at 0.7± miles, Fort Myers City Hall at 0.8± miles, Lee Memorial Hospital at 0.9± miles, and I-75 at 4.7± miles. Zoning is Neighborhood Commercial.
Key Highlights
- Mixed‑use configuration with professional office space and a 2‑bed/1‑bath apartment
- Renovated apartment occupied on a month‑to‑month basis
- Office layout includes two private offices, a conference room, and entry foyer
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
$28,974
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
4.46%
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%
$579,480
$579.5K
Cap Rate 7%
$413,914
$413.9K
Cap Rate 9%
$321,933
$321.9K
Market Conditions
NOI Build-Up for 1,686 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
$42.1K $24.96/SF
− Vacancy
−$3.5K −$2.05/SF
EGI
$38.6K $22.91/SF
− OpEx
−$9.7K −$5.73/SF
NOI
$29.0K $17.18/SF
Area
Lee County, FL
Vacancy
8.20%
Lease Rate
$24.96 /SF/Yr
Expense Ratio
25.00%
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%
$579,480
Cap Rate 7%
$413,914
Cap Rate 9%
$321,933
Alternative Uses
Best Use
Office B
$413.9K
$362.2K – $482.9K
NOI $28,974 @ 7.0% cap · market cap 4.46%
Second Best
Mixed Use
$297.2K
$260.0K – $346.7K
NOI $20,801 @ 7.0% cap · market cap 3.20%
Theoretical Best
Office A
$530.7K
$464.3K – $619.1K
NOI $37,146 @ 7.0% cap · market cap 5.71%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Location Intelligence
Trade Area within ½ mile
2,265
Businesses Nearby
Explore this area
Business Placement
Demographics for 33901, FL
22,629
Population
11,709
Households
1.9
Avg Household Size
43
Median Age
29%
College-Educated
83%
High-School Grad
6.2 sq mi
ZIP Area
3,650
Density / Sq Mi
$51,579
Median Household Income
$37,233
Median Earnings
$1,291
Median Rent
$280,400
Median Home Value
Market
Vacancy Rate% for Office in South region
Questions? Ask Rey
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Frequently Asked Questions
What type of property is this?
Mixed-use property - Office and residential components create a flexible owner-occupant configuration in a neighborhood commercial setting.
Where is this mixed-use property located?
The property is located at 1920 Victoria Ave Fort Myers, FL.
What is the asking price?
The asking price for this property is $650,000.
What are key features of this property?
This property features: Mixed‑use configuration with professional office space and a 2‑bed/1‑bath apartment; Renovated apartment occupied on a month‑to‑month basis; Office layout includes two private offices, a conference room, and entry foyer
