Multi-Tenant Convenience Store
For Sale
$1,200,000
2467 Edison Avenue, Fort Myers, FL 33901
Two-unit building with a convenience store tenant in the front unit and a vacant back unit with existing hood.
Property Size6,228 SF
Price / SF$193.55
Days on Market29
Property Features for 2467 Edison Avenue
General Information
Standard status
Active
Size
6,228 SF
Property subtype
Retail
Building Details
Building Size
6,228 SF
Buildings
1
Tenancy
Multi
Listing Agency:
LQ Commercial - Corporate
(203) 631-3698
Listed By:
Joey Gulino · License #249530480
(203) 631-3698
Source:
Lqcre
Added: Jul 29
Changed: Aug 26
Last Checked: Aug 26 at 1:15PM
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 LQ Commercial - Corporate
Investment Insights
Based on property information with market context.
This multi-tenant convenience store building offers two versatile units in a single structure, with a convenience store tenant in place at the front unit for immediate income. The back unit is currently vacant and includes an existing hood, providing a ready-to-lease layout for a new tenant.
The property is located at 2467 Edison Ave in Fort Myers, in a high-traffic corridor less than one mile from Downtown Fort Myers. The asset benefits from a new roof installed in Q4 2024.
With a front unit operating and a back unit positioned for lease-up, the building is well suited for an owner seeking both current occupancy and future tenant flexibility within a growing Midtown Fort Myers district.
The property is located at 2467 Edison Ave in Fort Myers, in a high-traffic corridor less than one mile from Downtown Fort Myers. The asset benefits from a new roof installed in Q4 2024.
With a front unit operating and a back unit positioned for lease-up, the building is well suited for an owner seeking both current occupancy and future tenant flexibility within a growing Midtown Fort Myers district.
Key Highlights
- 6,200 SF multi‑tenant commercial building with 2 units
- Convenience store tenant in place at the front unit
- Back unit vacant with existing hood for lease‑up
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
$98,431
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
8.20%
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%
$1,968,620
$2.0M
Cap Rate 7%
$1,406,157
$1.4M
Cap Rate 9%
$1,093,678
$1.1M
Market Conditions
NOI Build-Up for 6,200 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
$133.9K $21.60/SF
− Vacancy
−$2.7K −$0.43/SF
EGI
$131.2K $21.17/SF
− OpEx
−$32.8K −$5.29/SF
NOI
$98.4K $15.88/SF
Area
Lee County, FL
Vacancy
2.00%
Lease Rate
$21.60 /SF/Yr
Expense Ratio
25.00%
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%
$1,968,620
Cap Rate 7%
$1,406,157
Cap Rate 9%
$1,093,678
Alternative Uses
Best Use
Specialty Retail
$1.41M
$1.23M – $1.64M
NOI $98,431 @ 7.0% cap · market cap 8.20%
Second Best
Retail
$1.16M
$1.02M – $1.36M
NOI $81,333 @ 7.0% cap · market cap 6.78%
Theoretical Best
Office A
$1.95M
$1.71M – $2.28M
NOI $136,598 @ 7.0% cap · market cap 11.38%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
Multi-tenant
Tenancy
Location Intelligence
Trade Area within ½ mile
1,923
Businesses Nearby
49k
Monthly Visits Nearby
Under-served
Demand for This Use
Explore this area
Business Placement
Foot Traffic Nearby
Shops & Services 69%
Dining 17%
Groceries 10%
Hotels & Casinos 4%
RaceTrac
Shops & Services
25,274 visits/mo
0.5 miles
Dunkin' Donuts
Dining
8,194 visits/mo
0.5 miles
Family Dollar
Shops & Services
6,247 visits/mo
0.3 miles
Papa Meat
Groceries
4,970 visits/mo
0.3 miles
Holiday Inn Fort Myers - Downtown Area
Hotels & Casinos
2,174 visits/mo
0.5 miles
Demographics for 33901, FL
22,629
Population
11,709
Households
1.9
Avg Household Size
43
Median Age
29%
College-Educated
83%
High-School Grad
6.2 sq mi
ZIP Area
3,650
Density / Sq Mi
$51,579
Median Household Income
$37,233
Median Earnings
$1,291
Median Rent
$280,400
Median Home Value
Market
Vacancy Rate% for Retail in South region
Questions? Ask Rey
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Similar Off Market Nearby
- PAPA MEAT INC — 2601 Fowler St, Fort Myers, FL 33901
Frequently Asked Questions
What type of property is this?
Grocery and convenience store - Two-unit building with a convenience store tenant in the front unit and a vacant back unit with existing hood.
Where is this grocery and convenience store located?
The property is located at 2467 Edison Avenue Fort Myers, FL.
What is the asking price?
The asking price for this property is $1,200,000.
What are key features of this property?
This property features: 6,200 SF multi‑tenant commercial building with 2 units; Convenience store tenant in place at the front unit; Back unit vacant with existing hood for lease‑up
