Profitable Fort Myers Investment
For Sale
$2,025,000
3775 Fowler ST, Fort Myers, FL 33901
Well-maintained, fully leased mixed-use building with long-term tenants.
Property Size12,778 SF
Lot Size0.99 Acres
Price / SF$158.48
Days on Market520
Property Features for 3775 Fowler ST
General Information
Standard status
Active
Size
12,778 SF
Lot size
0.99 Acres
Property subtype
Retail
Building Details
Building Size
12,778 SF
Listing Agency:
Legacy Plus Realty Inc
Listed By:
Renato Machado Cazulli · License #3347253
(786) 702-2390
Source:
Relinkre
Added: Apr 2, 2025
Changed: Aug 23
Last Checked: Sep 2 at 1:00AM
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 Legacy Plus Realty Inc
Investment Insights
Based on property information with market context.
This free-standing building in Fort Myers presents an investment opportunity. The property features a new roof, fresh exterior paint, and recently replaced HVAC systems. Spanning 12,778 square feet on a 43,260 square foot lot, the building includes 12 fully leased units. Current tenants include a restaurant/mini market that has been operating in the same location for over 30 years, as well as businesses such as car maintenance, car dealership, window tinting, property management, event salon, beauty salon, and upholstery services. A 40-space parking lot accommodates tenants and customers. The income-generating property is operating at a 6% cap rate.
Key Highlights
- Income‑generating property operating at a 6% cap rate.
- 12 fully leased units providing immediate rental income.
- Prime location in the heart of Fort Myers.
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
$157,649
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
7.79%
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%
$3,152,980
$3.2M
Cap Rate 7%
$2,252,129
$2.3M
Cap Rate 9%
$1,751,656
$1.8M
Market Conditions
NOI Build-Up for 12,778 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
$268.3K $21.00/SF
− Vacancy
−$16.1K −$1.26/SF
EGI
$252.2K $19.74/SF
− OpEx
−$94.6K −$7.40/SF
NOI
$157.6K $12.34/SF
Area
Lee County, FL
Vacancy
6.00%
Lease Rate
$21.00 /SF/Yr
Expense Ratio
37.50%
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%
$3,152,980
Cap Rate 7%
$2,252,129
Cap Rate 9%
$1,751,656
Alternative Uses
Best Use
Mixed Use
$2.25M
$1.97M – $2.63M
NOI $157,649 @ 7.0% cap · market cap 7.79%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$4.02M
$3.52M – $4.69M
NOI $281,525 @ 7.0% cap · market cap 13.90%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Location Intelligence
Trade Area within ½ mile
2,274
Businesses Nearby
Explore this area
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
Questions? Ask Rey
Realmo’s AI knows this listing — price, zoning, demand, history. Ask anything.
Frequently Asked Questions
What type of property is this?
Mixed-use property - Well-maintained, fully leased mixed-use building with long-term tenants.
Where is this mixed-use property located?
The property is located at 3775 Fowler ST Fort Myers, FL.
What is the asking price?
The asking price for this property is $2,025,000.
What are key features of this property?
This property features: Income‑generating property operating at a 6% cap rate.; 12 fully leased units providing immediate rental income.; Prime location in the heart of Fort Myers.
