Auto Shop
For Sale
$1,850,000
3593 Veronica S Shoemaker Blvd, Fort Myers, FL 33916
Established commercial building constructed in 1979 on a substantial site.
Property Size5,760 SF
Lot Size0.94 Acres
Price / SF$321.18
Days on Market43
Property Features for 3593 Veronica S Shoemaker Blvd
General Information
Standard status
Active
Size
5,760 SF
Lot size
0.94 Acres
Property subtype
Industrial
Building Details
Building Size
5,760 SF
Year Built
1979
Listing Agency:
Lee & Associates - Naples
(239) 209-0458
Listed By:
Brock Rasmussen, SIOR · License #SL3068463
(239) 209-0458
Source:
Lee-associates
Added: Jul 19
Changed: Aug 29
Last Checked: Aug 29 at 9:13PM
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 Lee & Associates - Naples
Investment Insights
Based on property information with market context.
This auto shop property comprises a 5,760-square-foot warehouse-style building on approximately 0.94 acres. Constructed in 1979, the asset provides an established commercial footprint for automotive-related operations.
The property is located at 3593 Veronica S Shoemaker Blvd in Fort Myers, Florida, within ZIP code 33916.
The property is located at 3593 Veronica S Shoemaker Blvd in Fort Myers, Florida, within ZIP code 33916.
Key Highlights
- 5,760 SF warehouse‑style building
- Approximately 0.94± AC site
- Constructed in 1979
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
$75,561
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
4.08%
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%
$1,511,220
$1.5M
Cap Rate 7%
$1,079,443
$1.1M
Cap Rate 9%
$839,567
$839.6K
Market Conditions
NOI Build-Up for 5,760 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
$111.3K $19.32/SF
− Vacancy
−$3.3K −$0.58/SF
EGI
$107.9K $18.74/SF
− OpEx
−$32.4K −$5.62/SF
NOI
$75.6K $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%
$1,511,220
Cap Rate 7%
$1,079,443
Cap Rate 9%
$839,567
Alternative Uses
Best Use
Retail
$1.08M
$944.5K – $1.26M
NOI $75,561 @ 7.0% cap · market cap 4.08%
Second Best
Industrial
$751.2K
$657.3K – $876.4K
NOI $52,581 @ 7.0% cap · market cap 2.84%
Theoretical Best
Office A
$1.81M
$1.59M – $2.12M
NOI $126,904 @ 7.0% cap · market cap 6.86%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Location Intelligence
Trade Area within ½ mile
332
Businesses Nearby
Well-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 Retail in South region
Questions? Ask Rey
Realmo’s AI knows this listing — price, zoning, demand, history. Ask anything.
Similar Off Market Nearby
- Karr Automotive — 3120 Winkler Ave #6, Fort Myers, FL 33916
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- Fort Myers Mobile Mechanic — 3079 Warehouse Rd, Fort Myers, FL 33916
Frequently Asked Questions
What type of property is this?
Auto shop - Established commercial building constructed in 1979 on a substantial site.
Where is this auto shop located?
The property is located at 3593 Veronica S Shoemaker Blvd Fort Myers, FL.
What is the asking price?
The asking price for this property is $1,850,000.
What are key features of this property?
This property features: 5,760 SF warehouse‑style building; Approximately 0.94± AC site; Constructed in 1979
