Open-Concept Retail
For Sale
$849,000
3145 Royalston Avenue, Fort Myers, FL 33916
Open-concept commercial space with a storage outbuilding and frontage on Royalston Avenue.
Property Size4,360 SF
Price / SF$194.72
Days on Market109
Property Features for 3145 Royalston Avenue
General Information
Standard status
Active
Size
4,360 SF
Property subtype
Retail
Taxes and HOA fees
Annual Taxes
$628
Amenities
3
Building Details
Year Built
1986
Buildings
2
Listing Agency:
Basora Investment Group LLC
(239) 225-8231
Listed By:
Julia Basora · License #258015367
(239) 225-8231
Source:
Xome
Added: May 1
Changed: Aug 12
Last Checked: Aug 16 at 3:54AM
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 4,360-square-foot retail property was built in 1986 and is configured as an open-concept building. The site includes a separate outbuilding for storage and currently accommodates the Fort Myers Power Squadron. Several event leases are in place and may transfer to the buyer or end at closing.
The property fronts Royalston Avenue and extends along East Riverside Drive. Across the street, 279 residential units have been approved for development. These surrounding facts, together with the existing open layout and storage structure, define the property’s current commercial configuration.
The property fronts Royalston Avenue and extends along East Riverside Drive. Across the street, 279 residential units have been approved for development. These surrounding facts, together with the existing open layout and storage structure, define the property’s current commercial configuration.
Key Highlights
- 4,360‑square‑foot open‑concept retail building
- Built in 1986
- Separate outbuilding provides storage space
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
$57,196
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
6.74%
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%
$1,143,920
$1.1M
Cap Rate 7%
$817,086
$817.1K
Cap Rate 9%
$635,511
$635.5K
Market Conditions
NOI Build-Up for 4,360 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
$84.2K $19.32/SF
− Vacancy
−$2.5K −$0.58/SF
EGI
$81.7K $18.74/SF
− OpEx
−$24.5K −$5.62/SF
NOI
$57.2K $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%
$1,143,920
Cap Rate 7%
$817,086
Cap Rate 9%
$635,511
Alternative Uses
Best Use
Retail
$817.1K
$715.0K – $953.3K
NOI $57,196 @ 7.0% cap · market cap 6.74%
Second Best
—
—
no second resolved use
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
2k
Monthly Visits Nearby
Explore this area
Business Placement
Foot Traffic Nearby
Shops & Services 100%
Advance Auto Parts
Shops & Services
2,179 visits/mo
0.4 miles
Tuffy Tire & Auto Service
Shops & Services
316 visits/mo
0.2 miles
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 Retail in South region
Questions? Ask Rey
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Frequently Asked Questions
What type of property is this?
Retail space - Open-concept commercial space with a storage outbuilding and frontage on Royalston Avenue.
Where is this retail 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: 4,360‑square‑foot open‑concept retail building; Built in 1986; Separate outbuilding provides storage space
