Industrial and Retail Space
For Sale
$2,500,000
2065 Towles St, Fort Myers, FL 33916
12,000 sq ft Ft. Myers industrial and retail space.
Property Size12,000 SF
Price / SF$208.33
Days on Market1092
Property Features for 2065 Towles St
General Information
Standard status
Active
Size
12,000 SF
Property subtype
Commercial
Zoning
C1
Taxes and HOA fees
Annual Taxes
$7,204
Building Details
Year Built
2002
Stories
1
Tenancy
Single
Listing Agency:
Key Real Estate
(239) 450-1322
Listed By:
Kevin Yankow · License #NAPLES-249513503
(239) 450-1322
Source:
Bartleyrealty
Added: Aug 30, 2023
Changed: Aug 23
Last Checked: Aug 25 at 8:58AM
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 Key Real Estate
Investment Insights
Based on property information with market context.
This 12,000 sq. ft. building in Ft. Myers, FL, offers a combination of industrial and retail space. The property includes 8,000 sq. ft. of warehouse space and 4,000 sq. ft. of retail space. The warehouse area features a 24 ft. ceiling height and two loading docks. The building is situated in Ft. Myers' industrial district, providing access to I-75 (2 miles) and Southwest Florida International Airport (15 miles). Various amenities, including restaurants and shopping centers, are nearby.
Key Highlights
- 12,000 sq. ft. state‑of‑the‑art industrial building with both warehouse and retail space.
- Featuring 8,000 sq. ft. of warehouse space and 4,000 sq. ft. of retail space.
- Prime location in Ft. Myers' industrial district.
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
$157,419
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
6.30%
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%
$3,148,380
$3.1M
Cap Rate 7%
$2,248,843
$2.2M
Cap Rate 9%
$1,749,100
$1.7M
Market Conditions
NOI Build-Up for 12,000 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
$231.8K $19.32/SF
− Vacancy
−$7.0K −$0.58/SF
EGI
$224.9K $18.74/SF
− OpEx
−$67.5K −$5.62/SF
NOI
$157.4K $13.12/SF
Area
Lee County, FL
Vacancy
3.00%
Lease Rate
$19.32 /SF/Yr
Expense Ratio
30.00%
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%
$3,148,380
Cap Rate 7%
$2,248,843
Cap Rate 9%
$1,749,100
Alternative Uses
Best Use
Retail
$2.25M
$1.97M – $2.62M
NOI $157,419 @ 7.0% cap · market cap 6.30%
Second Best
Flex RnD
$1.88M
$1.64M – $2.19M
NOI $131,274 @ 7.0% cap · market cap 5.25%
Theoretical Best
Office A
$3.78M
$3.30M – $4.41M
NOI $264,384 @ 7.0% cap · market cap 10.58%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Location Intelligence
Trade Area within ½ mile
593
Businesses Nearby
Under-served
Demand for This Use
Explore this area
Business Placement
Demographics for 33916, FL
25,940
Population
12,480
Households
2.1
Avg Household Size
34
Median Age
21%
College-Educated
81%
High-School Grad
10.3 sq mi
ZIP Area
2,518
Density / Sq Mi
$49,353
Median Household Income
$32,770
Median Earnings
$1,363
Median Rent
$242,300
Median Home Value
Market
Vacancy Rate% for Industrial in South region
Questions? Ask Rey
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Frequently Asked Questions
What type of property is this?
Flex space - 12,000 sq ft Ft. Myers industrial and retail space.
Where is this flex space located?
The property is located at 2065 Towles St Fort Myers, FL.
What is the asking price?
The asking price for this property is $2,500,000.
What are key features of this property?
This property features: 12,000 sq. ft. state‑of‑the‑art industrial building with both warehouse and retail space.; Featuring **8,000 sq. ft. of warehouse space and 4,000 sq. ft. of retail space.**; Prime location in Ft. Myers' industrial district.
