Commercial Retail Space For
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4100 Evans Ave, Fort Myers, FL
13,778 SF retail space on 1.23 acres.
Property Size13,778 SF
Lot Size0.64 Acres
Price / SF$217.74
Days on Market517
Property Features for 4100 Evans Ave
General Information
Standard status
Active
Size
13,778 SF
Lot size
0.64 Acres
Property subtype
RETAIL
Listing Agency:
Boback Commercial Group
(239) 565-2616
Listed By:
James Boback
(239) 565-2616
Source:
Moodyscre
Added: Mar 26, 2025
Changed: Aug 10
Last Checked: Aug 23 at 9:22AM
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 Boback Commercial Group
Investment Insights
Based on property information with market context.
This commercial property features a building with approximately 13,778 gross square feet, of which approximately 11,241 square feet is rentable. Constructed in 1984, the property is situated on a lot of approximately 1.23 acres. It is zoned CI - Commercial Intensive by the City of Fort Myers. The property is identified by strap numbers 36-44-24-P3-01300.0200 and 36-44-24-P3-01300.0190. The most recent property taxes were $24,137.
Key Highlights
- 11,241 +/- rentable SF in a desirable location.
- Large 1.23 +/- acre lot.
- CI - Commercial Intensive zoning allows for a wide range of business uses.
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
$180,744
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
6.02%
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%
$3,614,880
$3.6M
Cap Rate 7%
$2,582,057
$2.6M
Cap Rate 9%
$2,008,267
$2.0M
Market Conditions
NOI Build-Up for 13,778 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
$266.2K $19.32/SF
− Vacancy
−$8.0K −$0.58/SF
EGI
$258.2K $18.74/SF
− OpEx
−$77.5K −$5.62/SF
NOI
$180.7K $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%
$3,614,880
Cap Rate 7%
$2,582,057
Cap Rate 9%
$2,008,267
Alternative Uses
Best Use
Retail
$2.58M
$2.26M – $3.01M
NOI $180,744 @ 7.0% cap · market cap 6.02%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$4.34M
$3.79M – $5.06M
NOI $303,557 @ 7.0% cap · market cap 10.12%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Location Intelligence
Trade Area within ½ mile
2,276
Businesses Nearby
266k
Monthly Visits Nearby
Explore this area
Business Placement
Foot Traffic Nearby
Apparel 44%
Shops & Services 38%
Dining 9%
Home Improvements & Furnishings 7%
Macy's
Apparel
79,921 visits/mo
0.5 miles
Wawa
Shops & Services
41,972 visits/mo
0.4 miles
Dillard's
Apparel
38,597 visits/mo
0.4 miles
Old Time Pottery
Home Improvements & Furnishings
17,134 visits/mo
0.3 miles
Starbucks
Dining
17,101 visits/mo
0.3 miles
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 - 13,778 SF retail space on 1.23 acres.
Where is this retail space located?
The property is located at 4100 Evans Ave Fort Myers, FL.
What is the asking price?
The asking price for this property is $3,000,000.
What are key features of this property?
This property features: 11,241 +/- rentable SF in a desirable location.; Large 1.23 +/- acre lot.; CI - Commercial Intensive zoning allows for a wide range of business uses.
