Commercial Land with Existing
For Sale
Contact for pricing
19650 South Tamiami Trail, Fort Myers, FL 33908
Three-parcel assemblage combines commercial zoning, roadway exposure, and occupied and vacant improvements.
Property Size4,718 SF
Price / SF$528.83
Days on Market33
Property Features for 19650 South Tamiami Trail
General Information
Standard status
Active
Size
4,718 SF
Property subtype
Retail, Office, Land
Zoning
Commercial General (CG), Community Commercial (CC), Agricultural 2 (AG-2)
Investment Type
Redevelopment
Building Details
Buildings
2
Tenancy
Multi
Listing Agency:
LSI Companies
(239) 565-3456
Listed By:
Alec Burke · License #FL SL3548362
Source:
Crexi
Added: Jul 29
Changed: Aug 30
Last Checked: Aug 30 at 7:45AM
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.
This commercial land assemblage consists of three parcels totaling 1.83± acres, with the parcels bifurcated by Elwood Road. Existing improvements include a 1,898±-square-foot vacant office/retail building and a 2,820±-square-foot occupied retail building. The property is located at 19650 South Tamiami Trail in Fort Myers, with approximately 360± combined linear feet along US-41 and multiple access points.
Zoning includes Commercial General (CG), Community Commercial (CC), and Agricultural 2 (AG-2) across the three parcels. The site is in Flood Zone X and a Qualified Opportunity Zone. Its location along S. Tamiami Trail provides access to multiple I-75 interchanges serving Lee and Collier Counties.
Zoning includes Commercial General (CG), Community Commercial (CC), and Agricultural 2 (AG-2) across the three parcels. The site is in Flood Zone X and a Qualified Opportunity Zone. Its location along S. Tamiami Trail provides access to multiple I-75 interchanges serving Lee and Collier Counties.
Key Highlights
- 1.83± acres assembled across 3 parcels, bifurcated by Elwood Road
- Approximately 360± combined linear feet along US‑41
- 1,898± SF vacant office/retail building
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
$81,079
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
3.25%
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%
$1,621,580
$1.6M
Cap Rate 7%
$1,158,271
$1.2M
Cap Rate 9%
$900,878
$900.9K
Market Conditions
NOI Build-Up for 4,718 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
$117.8K $24.96/SF
− Vacancy
−$9.7K −$2.05/SF
EGI
$108.1K $22.91/SF
− OpEx
−$27.0K −$5.73/SF
NOI
$81.1K $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%
$1,621,580
Cap Rate 7%
$1,158,271
Cap Rate 9%
$900,878
Alternative Uses
Best Use
Office B
$1.16M
$1.01M – $1.35M
NOI $81,079 @ 7.0% cap · market cap 3.25%
Second Best
Retail
$884.2K
$773.7K – $1.03M
NOI $61,892 @ 7.0% cap · market cap 2.48%
Theoretical Best
Office A
$1.48M
$1.30M – $1.73M
NOI $103,947 @ 7.0% cap · market cap 4.17%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Location Intelligence
Trade Area within ½ mile
406
Businesses Nearby
Explore this area
Business Placement
Demographics for 33908, FL
43,110
Population
32,067
Households
1.3
Avg Household Size
63
Median Age
44%
College-Educated
96%
High-School Grad
34.2 sq mi
ZIP Area
1,261
Density / Sq Mi
$74,711
Median Household Income
$50,063
Median Earnings
$1,829
Median Rent
$346,200
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?
Commercial land - Three-parcel assemblage combines commercial zoning, roadway exposure, and occupied and vacant improvements.
Where is this commercial land located?
The property is located at 19650 South Tamiami Trail Fort Myers, FL.
What is the asking price?
The asking price for this property is $2,495,000.
What are key features of this property?
This property features: 1.83± acres assembled across 3 parcels, bifurcated by Elwood Road; Approximately 360± combined linear feet along US‑41; 1,898± SF vacant office/retail building
