Open-Concept Flex
For Sale
$849,000
3145 Royalston Avenue, Fort Myers, FL 33916
Versatile warehouse with open layout, storage outbuilding, and transferable event leases for a flexible business plan.
Property Size4,360 SF
Price / SF$194.72
Days on Market89
Property Features for 3145 Royalston Avenue
General Information
Standard status
Active
Size
4,360 SF
Property subtype
Retail
Building Details
Year Built
1986
Listing Agency:
Basora Investment Group LLC
(239) 225-8231
Listed By:
Julia Basora · License #258015367
(239) 225-8231
Source:
Xome
Added: May 4
Changed: Jul 10
Last Checked: Jul 31 at 2:17PM
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 Basora Investment Group LLC
Investment Insights
Based on property information with market context.
This open-concept flex warehouse is currently home to the Fort Myers Power Squadron and offers a layout that may support a range of uses. The property also includes an outbuilding for storage, providing additional space for equipment, supplies, or other operational needs. As presented, there are multiple event-related leases associated with the property, and those leases are described as either transferable to a new buyer or terminated upon sale.
The building backs up to East Riverside Drive and provides frontage on Royalston Avenue, supporting straightforward site access from the roadway. The public remarks also reference approved development across the street, indicating a planned residential project presence in the immediate area.
For buyers and operators seeking flexibility, the current open configuration can help accommodate different business functions, and the property is described as remodelable to support additional income opportunities. The combination of warehouse space, storage outbuilding, and the stated event lease structure can be relevant for owners looking to align the property with event programming and other commercial uses while retaining a single-site footprint.
The building backs up to East Riverside Drive and provides frontage on Royalston Avenue, supporting straightforward site access from the roadway. The public remarks also reference approved development across the street, indicating a planned residential project presence in the immediate area.
For buyers and operators seeking flexibility, the current open configuration can help accommodate different business functions, and the property is described as remodelable to support additional income opportunities. The combination of warehouse space, storage outbuilding, and the stated event lease structure can be relevant for owners looking to align the property with event programming and other commercial uses while retaining a single-site footprint.
Key Highlights
- Built in 1986 with an open‑concept layout and space designed for flexible use, from business to multifamily projects
- Currently home to the Fort Myers Power Squadron
- Event leases are transferrable to the new buyer or can be terminated upon sale
Financial Insights For Flex RnD
Simulate Cap Rate and NOI
NOI Build-Up
- 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.
| Component | $ | $/SF |
|---|---|---|
| Gross rent | $78.5k | $18.00 |
| − Vacancy | −$5.1k | −$1.17 |
| EGI | $73.4k | $16.83 |
| − OpEx | −$25.7k | −$5.89 |
| NOI | $47.7k | $10.94 |
4,360 SF · lease $18.00/SF/yr · vacancy 6.50% · expense 35.00%
Alternative Uses
Best Use
Flex RnD
$681.4K
$596.2K – $794.9K
NOI $47,696 @ 7.0% cap · market cap 5.62%
Second Best
Warehouse
$635.1K
$555.7K – $740.9K
NOI $44,454 @ 7.0% cap · market cap 5.24%
Theoretical Best
Office A
$1.37M
$1.20M – $1.60M
NOI $96,060 @ 7.0% cap · market cap 11.31%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Location Intelligence
Trade Area within ½ mile
391
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 - Versatile warehouse with open layout, storage outbuilding, and transferable event leases for a flexible business plan.
Where is this flex space located?
The property is located at 3145 Royalston Avenue Fort Myers, FL.
What is the asking price?
The asking price for this property is $849,000.
What are key features of this property?
This property features: Built in 1986 with an open‑concept layout and space designed for flexible use, from business to multifamily projects; Currently home to the Fort Myers Power Squadron; Event leases are transferrable to the new buyer or can be terminated upon sale
