12,800 SF Fort Myers
For Sale
Contact for pricing
2020 Ortiz Avenue, Fort Myers, FL 33905
1.63 AC facility with outdoor storage for sale.
Property Size12,800 SF
Lot Size1.63 Acres
Price / SF$335.94
Days on Market92
Property Features for 2020 Ortiz Avenue
General Information
Standard status
Active
Size
12,800 SF
Lot size
1.63 Acres
Property subtype
Industrial
Zoning
IL
Building Details
Buildings
1
Listing Agency:
Lee & Associates - Naples
(239) 209-0458
Listed By:
Gary Barlow · License #SL3068463
Source:
Crexi
Added: May 14
Changed: Aug 8
Last Checked: Aug 3 at 4:41AM
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 = 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
$130,508
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
3.04%
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%
$2,610,160
$2.6M
Cap Rate 7%
$1,864,400
$1.9M
Cap Rate 9%
$1,450,089
$1.5M
Market Conditions
NOI Build-Up for 12,800 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
$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 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%
$2,610,160
Cap Rate 7%
$1,864,400
Cap Rate 9%
$1,450,089
Alternative Uses
Best Use
Warehouse
$1.86M
$1.63M – $2.18M
NOI $130,508 @ 7.0% cap · market cap 3.04%
Second Best
Industrial
$1.67M
$1.46M – $1.95M
NOI $116,847 @ 7.0% cap · market cap 2.72%
Theoretical Best
Office A
$4.03M
$3.53M – $4.70M
NOI $282,010 @ 7.0% cap · market cap 6.56%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Location Intelligence
Trade Area within ½ mile
399
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
Questions? Ask Rey
Realmo’s AI knows this listing — price, zoning, demand, history. Ask anything.
Similar Off Market Nearby
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- Suncoast Records Management Solutions, Inc. — 2020 Ortiz Ave, Fort Myers, FL 33905
- Suncoast Moving & Storage, Inc. — 2020 Ortiz Ave, Fort Myers, FL 33905
- U-Pack — 4550 Laredo Ave #2, 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 Avenue 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.
