70-Unit Self-Storage
For Sale
Contact for pricing
Pending
2147 Andrea Lane, Fort Myers, FL 33912
C-2-zoned storage property with powered units, overhead doors, and flexible demising walls.
Property Size18,738 SF
Days on Market81
Property Features for 2147 Andrea Lane
General Information
Standard status
Pending
Size
18,738 SF
Property subtype
Self Storage
Zoning
Commercial (C-2)
Occupancy
91%
Investment Type
Stabilized
Building Details
Year Built
1983
Year Renovated
2023
Buildings
2
Tenancy
Multi
Listing Agency:
LSI Companies
Listed By:
Sawyer Gregory · License #SL3586547
(239) 489-4066
Source:
Crexi
Added: Jun 15
Changed: Sep 1
Last Checked: Aug 31 at 8:51PM
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 self-storage property includes 70 units across two concrete block buildings totaling 18,738 square feet. Built in 1983, the facility offers large overhead doors, power at each unit, and breakaway metal partitions that support combining adjacent spaces. Eight dedicated parking spots are also available for rent. The property is zoned Commercial (C-2).
The facility sits within Andrea Lane Business Park, approximately 0.3 miles from US-41, 0.8 miles from Six Mile Cypress Parkway, and 1.1 miles from Daniels Parkway. Alico Road is 3.8 miles away, I-75 is 5.7 miles away, and Southwest Florida International Airport is 7.9 miles from the property.
All rentable units are currently occupied, and an active word-of-mouth waiting list is in place. Many occupants use multiple units, supported by the buildings’ adaptable interior layout.
The facility sits within Andrea Lane Business Park, approximately 0.3 miles from US-41, 0.8 miles from Six Mile Cypress Parkway, and 1.1 miles from Daniels Parkway. Alico Road is 3.8 miles away, I-75 is 5.7 miles away, and Southwest Florida International Airport is 7.9 miles from the property.
All rentable units are currently occupied, and an active word-of-mouth waiting list is in place. Many occupants use multiple units, supported by the buildings’ adaptable interior layout.
Key Highlights
- 70‑unit facility totaling 18,738 square feet
- Two concrete block buildings constructed in 1983
- All rentable units currently occupied with an active word‑of‑mouth waiting list
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
$197,615
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
7.90%
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%
$3,952,300
$4.0M
Cap Rate 7%
$2,823,071
$2.8M
Cap Rate 9%
$2,195,722
$2.2M
Market Conditions
NOI Build-Up for 18,738 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
$303.6K $16.20/SF
− Vacancy
−$21.2K −$1.13/SF
EGI
$282.3K $15.07/SF
− OpEx
−$84.7K −$4.52/SF
NOI
$197.6K $10.55/SF
Area
Lee County, FL
Vacancy
7.00%
Lease Rate
$16.20 /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%
$3,952,300
Cap Rate 7%
$2,823,071
Cap Rate 9%
$2,195,722
Alternative Uses
Best Use
Self Storage
$2.82M
$2.47M – $3.29M
NOI $197,615 @ 7.0% cap · market cap 7.90%
Second Best
Warehouse
$2.73M
$2.39M – $3.18M
NOI $191,051 @ 7.0% cap · market cap 7.64%
Theoretical Best
Office A
$5.90M
$5.16M – $6.88M
NOI $412,836 @ 7.0% cap · market cap 16.51%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Location Intelligence
Trade Area within ½ mile
990
Businesses Nearby
Explore this area
Business Placement
Demographics for 33912, FL
19,146
Population
12,078
Households
1.6
Avg Household Size
61
Median Age
48%
College-Educated
97%
High-School Grad
21.2 sq mi
ZIP Area
903
Density / Sq Mi
$101,043
Median Household Income
$54,143
Median Earnings
$1,653
Median Rent
$367,800
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.
Frequently Asked Questions
What type of property is this?
Self storage facility - C-2-zoned storage property with powered units, overhead doors, and flexible demising walls.
Where is this self storage facility located?
The property is located at 2147 Andrea Lane 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: 70‑unit facility totaling 18,738 square feet; Two concrete block buildings constructed in 1983; All rentable units currently occupied with an active word‑of‑mouth waiting list
