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Building Details

Building Size 12,800 SF

Year Built 1973

Listing Agency: Lee & Associates | Naples

Listed By: Gary Barlow · License #SL3068463 Show Phone

Source: Lee-associates

Added: May 16 Changed: Oct 15 Last Checked: Oct 14 at 8:42PM

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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 Lee & Associates | Naples

Investment Insights

Based on property information with market context.

This 12,800 square foot facility, measuring 160 feet by 80 feet, is available for sale. Situated on 1.63 acres, the property includes an outdoor storage lot. The building features 800 square feet of office space and a clear span design with no columns. It offers a 20-foot clear height and includes two grade-level doors. Recent updates to the property include a new roof, an updated interior, new seal coat and striping, and new landscaping. The property is located on Ortiz Avenue in Fort Myers, Florida.

Key Highlights

• 12,800 SF facility on 1.63 AC with outdoor storage.
• Clear span building (no columns) with 20’ clear height.**
• New roof, updated interior, new seal coat & striping, and new landscaping.

Financial Insights

Estimated NOI and Cap Rate

NOI / Yr

$130,508

Cap Rate

3.04%

Suggested Prices Based on Cap Rates

Cap Rate 5%

$2,610,160 $2.6M

Cap Rate 7%

$1,864,400 $1.9M

Cap Rate 9%

$1,450,089 $1.5M

Is this asking price fair?

Market Conditions

NOI Build-Up for 12,800 SF

Gross rent

$161.3K $12.60/SF

− Vacancy

−$7.7K −$0.60/SF

EGI

$153.5K $12.00/SF

− OpEx

−$23.0K −$1.80/SF

NOI

$130.5K $10.20/SF

Area

Lee County, FL

Vacancy

4.80%

Lease Rate

$12.60 /SF/Yr

Expense Ratio

15.00%

Simulate Cap Rate and NOI

Suggested Prices Based on Cap Rates

Cap Rate 5%

$2,610,160

Cap Rate 7%

$1,864,400

Cap Rate 9%

$1,450,089

Alternative Uses

Best Use

Warehouse

$1.86M

$1.63M – $2.18M (±1% cap)

NOI $130,508 @ 7.0% cap · market cap 3.04%

Second Best

Industrial

$1.67M

$1.46M – $1.95M (±1% cap)

NOI $116,847 @ 7.0% cap · market cap 2.72%

Theoretical Best

Office A

$4.03M

$3.53M – $4.70M (±1% cap)

NOI $282,010 @ 7.0% cap · market cap 6.56%

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

Property Analytics

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Current Use

Suncoast Records Management ... Storage Facility Suncoast Moving & Storage, ... Moving Company

Suggested Use

Top Pick Real Estate Agency Restaurant Electrical Service (Bike/Boat/Book/etc) Store Catering Service Tech Support Center

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

Location Intelligence

Trade Area within ½ mile

200

Businesses Nearby

Well-served

Demand for This Use

Explore this area Business Placement

Demographics for 33905, FL

37,692

Population

17,337

Households

2.2

Avg Household Size

41

Median Age

22%

College-Educated

79%

High-School Grad

40.2 sq mi

ZIP Area

938

Density / Sq Mi

$70,009

Median Household Income

$36,923

Median Earnings

$1,509

Median Rent

$260,400

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

• Suncoast Records Management Solutions, Inc. — 2020 Ortiz Ave, Fort Myers, FL 33905
• Suncoast Moving & Storage, Inc. — 2020 Ortiz Ave, Fort Myers, FL 33905
• Fort Myers Self Storage — 8990 High Cotton Ln, Fort Myers, FL 33905
• U-Pack — 4550 Laredo Ave #2, Fort Myers, FL 33905
• RecNation RV & Boat Storage — 8930 Laredo Ave, Fort Myers, FL 33905

Frequently Asked Questions

What type of property is this?

Warehouse - 1.63 AC facility with outdoor storage for sale.

Where is this warehouse located?

The property is located at 2020 Ortiz Ave Fort Myers, FL.

What is the asking price?

The asking price for this property is $4,300,000.

What are key features of this property?

This property features: 12,800 SF facility on 1.63 AC with outdoor storage.; Clear span building (no columns) with 20’ clear height.**; New roof, updated interior, new seal coat & striping, and new landscaping.