Fort Myers Industrial
For Sale
$9,500,000
4599-4607 Fowler Street, Fort Myers, FL 33907
Five-building industrial asset with high visibility and excellent connectivity.
Property Size68,774 SF
Price / SF$138.13
Days on Market260
Property Features for 4599-4607 Fowler Street
General Information
Standard status
Active
Size
68,774 SF
Property subtype
Industrial
Building Details
Building Size
68,774 SF
Listing Agency:
Lee & Associates | Orlando
(239) 209-0458
Listed By:
Brock Rasmussen, SIOR · License #3345374
(239) 209-0458
Source:
Lee-associates
Added: Nov 26, 2025
Changed: Aug 12
Last Checked: Aug 12 at 4:51AM
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 | Orlando
Investment Insights
Based on property information with market context.
This industrial asset comprises five buildings totaling 68,774 square feet, situated on 3.07 acres with frontage on Fowler Street. The property offers functionality, visibility, and access. The mix of industrial buildings includes showroom, warehouse, flex, and commercial spaces, featuring both grade-level and dock-high doors. The property is fully occupied, providing a steady income stream. All buildings have been well-maintained, enhancing curb and tenant appeal. The location experiences traffic counts exceeding 65,000 vehicles per day. Positioned between I-75 and US-41, the property provides regional connectivity throughout Southwest Florida. Located in Fort Myers, south of the Colonial Boulevard and Fowler Street intersection, the property offers local and regional connectivity. Tenants benefit from quick access to US-41, the Midpoint Bridge, and I-75 for efficient statewide distribution. The site is approximately 6.3 miles from the Colonial Boulevard/I-75 interchange and 24 minutes from Southwest International Airport (RSW).
Key Highlights
- 100% Occupied: Provides immediate and stable income stream.
- Excellent Location: Strategically positioned in Fort Myers with exceptional access to I‑75, US‑41.
- High Visibility: Frontage on Fowler Street with traffic counts exceeding 65,000 vehicles per day.
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
$752,353
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
7.92%
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%
$15,047,060
$15.0M
Cap Rate 7%
$10,747,900
$10.7M
Cap Rate 9%
$8,359,478
$8.4M
Market Conditions
NOI Build-Up for 68,774 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
$1.24M $18.00/SF
− Vacancy
−$80.5K −$1.17/SF
EGI
$1.16M $16.83/SF
− OpEx
−$405.1K −$5.89/SF
NOI
$752.4K $10.94/SF
Area
Lee County, FL
Vacancy
6.50%
Lease Rate
$18.00 /SF/Yr
Expense Ratio
35.00%
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%
$15,047,060
Cap Rate 7%
$10,747,900
Cap Rate 9%
$8,359,478
Alternative Uses
Best Use
Flex RnD
$10.75M
$9.40M – $12.54M
NOI $752,353 @ 7.0% cap · market cap 7.92%
Second Best
Warehouse
$10.02M
$8.77M – $11.69M
NOI $701,214 @ 7.0% cap · market cap 7.38%
Theoretical Best
Office A
$21.65M
$18.94M – $25.25M
NOI $1,515,229 @ 7.0% cap · market cap 15.95%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Location Intelligence
Trade Area within ½ mile
1,308
Businesses Nearby
Explore this area
Business Placement
Demographics for 33907, FL
24,980
Population
14,125
Households
1.8
Avg Household Size
43
Median Age
26%
College-Educated
89%
High-School Grad
7.3 sq mi
ZIP Area
3,422
Density / Sq Mi
$49,826
Median Household Income
$33,442
Median Earnings
$1,502
Median Rent
$236,700
Median Home Value
Market
Vacancy Rate% for Industrial in South region
Questions? Ask Rey
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Frequently Asked Questions
What type of property is this?
Industrial property - Five-building industrial asset with high visibility and excellent connectivity.
Where is this industrial property located?
The property is located at 4599-4607 Fowler Street Fort Myers, FL.
What is the asking price?
The asking price for this property is $9,500,000.
What are key features of this property?
This property features: 100% Occupied: Provides immediate and stable income stream.; Excellent Location: Strategically positioned in Fort Myers with exceptional access to I‑75, US‑41.; High Visibility: Frontage on Fowler Street with traffic counts exceeding 65,000 vehicles per day.
