Administrative Office and Warehouse
For Sale
Contact for pricing
Pending
3660 BROADWAY, Fort Myers, FL 33901
A leased office building and adjoining industrial warehouse totaling 38,104 sf in a healthcare operations campus.
Property Size38,104 SF
Days on Market105
Property Features for 3660 BROADWAY
General Information
Standard status
Pending
Size
38,104 SF
Class
B
Property subtype
Office, Industrial
Occupancy
100%
Lease Type
Absolute Net
Investment Type
Net Lease
Net Operating Income
$1,006,945
Building Details
Year Built
2005
Buildings
2
Stories
1
Tenancy
Single
Listing Agency:
Zeustra Inc
Listed By:
Nick Myers · License #PA RS322215
Source:
Crexi
Added: Jul 21
Changed: Oct 25
Last Checked: Nov 1 at 6:13AM
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 Zeustra Inc
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Investment Insights
Based on property information with market context.
The offering includes two facilities totaling 38,104 square feet: a 22,104-square-foot administrative office building and an adjoining 16,000-square-foot industrial warehouse. Both properties are 100% leased under a long-term absolute net lease to Treasure Coast Imaging Partners (TCIP), an affiliate of Radiology Regional and RadNet (NASDAQ: RDNT).
The administrative building is described as the operational headquarters for RadNet’s Southwest Florida imaging network, supporting executive leadership and core functions such as human resources, information technology, customer service, appointment scheduling, and training and continuing education for imaging technologists. The adjoining warehouse is described as a regional logistics center supporting centralized storage of imaging equipment, replacement parts, and operational supplies.
The tenant is committed through November 30, 2031, with 3% annual contractual rental escalations throughout the lease term.
The administrative building is described as the operational headquarters for RadNet’s Southwest Florida imaging network, supporting executive leadership and core functions such as human resources, information technology, customer service, appointment scheduling, and training and continuing education for imaging technologists. The adjoining warehouse is described as a regional logistics center supporting centralized storage of imaging equipment, replacement parts, and operational supplies.
The tenant is committed through November 30, 2031, with 3% annual contractual rental escalations throughout the lease term.
Key Highlights
- Healthcare corporate headquarters and industrial operations campus totaling 38,104 SF in Fort Myers, FL (built in 2005)
- Portfolio includes a 22,104‑SF administrative office building and a 16,000‑SF industrial warehouse
- Both buildings are 100% leased under a long‑term absolute net lease to Treasure Coast Imaging Partners (TCIP), an affiliate of RadNet (NASDAQ: RDNT)
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$654,816
Cap Rate
6.02%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$13,096,320
$13.1M
Cap Rate 7%
$9,354,514
$9.4M
Cap Rate 9%
$7,275,733
$7.3M
Market Conditions
NOI Build-Up for 38,104 SF
Gross rent
$951.1K $24.96/SF
− Vacancy
−$78.0K −$2.05/SF
EGI
$873.1K $22.91/SF
− OpEx
−$218.3K −$5.73/SF
NOI
$654.8K $17.18/SF
Area
Lee County, FL
Vacancy
8.20%
Lease Rate
$24.96 /SF/Yr
Expense Ratio
25.00%
Simulate Cap Rate and NOI
Suggested Prices Based on Cap Rates
Cap Rate 5%
$13,096,320
Cap Rate 7%
$9,354,514
Cap Rate 9%
$7,275,733
Alternative Uses
Best Use
Office B
$9.35M
$8.19M – $10.91M
NOI $654,816 @ 7.0% cap · market cap 6.02%
Second Best
Warehouse
$5.55M
$4.86M – $6.48M
NOI $388,505 @ 7.0% cap · market cap 3.57%
Theoretical Best
Office A
$11.99M
$10.49M – $13.99M
NOI $839,507 @ 7.0% cap · market cap 7.71%
Zoning and permitted uses should be independently verified with authorities.
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Current Use
Location Intelligence
Trade Area within ½ mile
2,158
Businesses Nearby
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Business Placement
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
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Market
Vacancy Rate% for Office in South region
Frequently Asked Questions
What type of property is this?
Office building - A leased office building and adjoining industrial warehouse totaling 38,104 sf in a healthcare operations campus.
Where is this office building located?
The property is located at 3660 BROADWAY Fort Myers, FL.
What is the asking price?
The asking price for this property is $10,885,900.
What are key features of this property?
This property features: Healthcare corporate headquarters and industrial operations campus totaling 38,104 SF in Fort Myers, FL (built in 2005); Portfolio includes a 22,104‑SF administrative office building and a 16,000‑SF industrial warehouse; Both buildings are 100% leased under a long‑term absolute net lease to Treasure Coast Imaging Partners (TCIP), an affiliate of RadNet (NASDAQ: RDNT)
