56-Unit Flex
New
For Sale
$1,749,000
2243/2245 Bruner Ln, Fort Myers, FL 33912
Spaces accommodate storage, work, and small-business activities in a flexible commercial setting.
Property Size16,128 SF
Days on Market2
Property Features for 2243/2245 Bruner Ln
General Information
Standard status
Active
Size
16,128 SF
Total Parking Spaces
12
Property subtype
Commercial
Occupancy
89%
Additional Details
Highway Access
Yes
Self-Storage Units
56
Taxes and HOA fees
Annual Taxes
$14,579
Building Details
Building Size
16,128 SF
Year Built
1977
Stories
1
Listed By:
Michelle Jay · License #NAPLES-249524712
(239) 821-3255
Source:
Elliman
Added: Oct 1
Last Checked: Oct 1 at 1:56PM
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 Michelle Jay
Investment Insights
Based on property information with market context.
This flex property at 2243/2245 Bruner Lane in Fort Myers, Florida, contains 56 customizable units and was built in 1977. The spaces can support storage, work, and other small-business activities. Current occupancy is 89%, and the property includes 12 additional parking spaces.
The site is less than 6 miles from I-75 and is located in Lee County.
The site is less than 6 miles from I-75 and is located in Lee County.
Key Highlights
- 56 customizable units
- 89% current occupancy
- 12 additional parking spaces
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
$147,228
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
8.42%
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%
$2,944,560
$2.9M
Cap Rate 7%
$2,103,257
$2.1M
Cap Rate 9%
$1,635,867
$1.6M
Market Conditions
NOI Build-Up for 16,128 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
$222.6K $13.80/SF
− Vacancy
−$12.2K −$0.76/SF
EGI
$210.3K $13.04/SF
− OpEx
−$63.1K −$3.91/SF
NOI
$147.2K $9.13/SF
Area
Lee County, FL
Vacancy
5.50%
Lease Rate
$13.80 /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%
$2,944,560
Cap Rate 7%
$2,103,257
Cap Rate 9%
$1,635,867
Alternative Uses
Best Use
Flex RnD
$2.52M
$2.21M – $2.94M
NOI $176,432 @ 7.0% cap · market cap 10.09%
Second Best
Self Storage
$2.43M
$2.13M – $2.83M
NOI $170,089 @ 7.0% cap · market cap 9.72%
Theoretical Best
Office A
$5.08M
$4.44M – $5.92M
NOI $355,332 @ 7.0% cap · market cap 20.32%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Unlock full access to Insights
Subscribe to Realmo Intelligence
Open Analytics
Current Use
Lease Details
89%
Occupancy
Yes
Highway access
Location Intelligence
Trade Area within ½ mile
1,064
Businesses Nearby
Balanced
Demand for This Use
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
Check the figures for this property
Cap Rate, Value Estimation, Potential NOI and more
View Realmo Analytics
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
- Moe's Southwest Grill — 13711 S Tamiami Trail, Fort Myers, FL 33912
Frequently Asked Questions
What type of property is this?
Flex space - Spaces accommodate storage, work, and small-business activities in a flexible commercial setting.
Where is this flex space located?
The property is located at 2243/2245 Bruner Ln Fort Myers, FL.
What is the asking price?
The asking price for this property is $1,749,000.
What are key features of this property?
This property features: 56 customizable units; 89% current occupancy; 12 additional parking spaces
