Office/Warehouse Facility with
For Sale
Contact for pricing
4681 Elevation Way, Fort Myers, FL 33905
State-of-the-art office/warehouse facility with additional land for sale.
Property Size8,417 SF
Price / SF$350.10
Days on Market144
Property Features for 4681 Elevation Way
General Information
Standard status
Active
Size
8,417 SF
Property subtype
Industrial
Zoning
IL (Lee County)
Building Details
Year Built
2021
Buildings
1
Stories
2
Listing Agency:
Mayhugh Commercial Advisors
(239) 898-9685
Listed By:
Chase Mayhugh, SIOR, CCIM · License #BK3053987
Source:
Crexi
Added: Mar 23
Changed: Aug 8
Last Checked: Aug 8 at 6:39AM
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 Mayhugh Commercial Advisors
Investment Insights
Based on property information with market context.
This commercial real estate offering features a state-of-the-art office/warehouse facility. The property includes additional land, enhancing its potential for various uses. The building encompasses 8,417 square feet.
Key Highlights
- State‑of‑the‑art office/warehouse facility
- Additional land included
- Built in 2021
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
$85,819
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
2.91%
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%
$1,716,380
$1.7M
Cap Rate 7%
$1,225,986
$1.2M
Cap Rate 9%
$953,544
$953.5K
Market Conditions
NOI Build-Up for 8,417 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
$106.1K $12.60/SF
− Vacancy
−$5.1K −$0.60/SF
EGI
$101.0K $12.00/SF
− OpEx
−$15.1K −$1.80/SF
NOI
$85.8K $10.20/SF
Area
Lee County, FL
Vacancy
4.80%
Lease Rate
$12.60 /SF/Yr
Expense Ratio
15.00%
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%
$1,716,380
Cap Rate 7%
$1,225,986
Cap Rate 9%
$953,544
Alternative Uses
Best Use
Warehouse
$1.23M
$1.07M – $1.43M
NOI $85,819 @ 7.0% cap · market cap 2.91%
Second Best
Industrial
$1.10M
$960.5K – $1.28M
NOI $76,836 @ 7.0% cap · market cap 2.61%
Theoretical Best
Office A
$2.65M
$2.32M – $3.09M
NOI $185,443 @ 7.0% cap · market cap 6.29%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Location Intelligence
Trade Area within ½ mile
425
Businesses Nearby
Well-served
Demand for This Use
Explore this area
Business Placement
Demographics for 33905, FL
37,692
Population
17,337
Households
2.2
Avg Household Size
41
Median Age
22%
College-Educated
79%
High-School Grad
40.2 sq mi
ZIP Area
938
Density / Sq Mi
$70,009
Median Household Income
$36,923
Median Earnings
$1,509
Median Rent
$260,400
Median Home Value
Market
Vacancy Rate% for Industrial in South region
Questions? Ask Rey
Realmo’s AI knows this listing — price, zoning, demand, history. Ask anything.
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Frequently Asked Questions
What type of property is this?
Warehouse - State-of-the-art office/warehouse facility with additional land for sale.
Where is this warehouse located?
The property is located at 4681 Elevation Way Fort Myers, FL.
What is the asking price?
The asking price for this property is $2,946,800.
What are key features of this property?
This property features: State‑of‑the‑art office/warehouse facility; Additional land included; Built in 2021
