Multi-Tenant Mixed-Use
New
For Sale
$800,000
50 Mildred Dr, Fort Myers, FL 33901
Commercial-intensive zoning and Mildred Drive access support varied retail, office, flex, and trade-oriented uses.
Property Size5,835 SF
Lot Size0.38 Acres
Price / SF$137.10
Days on Market2
Property Features for 50 Mildred Dr
General Information
Standard status
Active
Size
5,835 SF
Total Parking Spaces
8
Lot size
0.38 Acres
Property subtype
Office
Zoning
CI
Additional Details
Road Access
Yes
Building Details
Building Size
5,835 SF
Tenancy
Multi
Listing Agency:
Lee & Associates | Fort Myers
Listed By:
Zachary Tillery
(239) 580-8291
Source:
Lee-associates
Added: Sep 11
Last Checked: Sep 11 at 2:29PM
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 | Fort Myers
Investment Insights
Based on property information with market context.
This 5,835 SF mixed-use property combines retail, office, and flex space in a multi-tenant building on 0.38 acres. The property includes 2,500 SF available for lease, eight parking spaces, and site access from Mildred Drive. Potential applications identified for the building include HVAC, flooring, showroom, building and trade supply, and printing operations.
The property is in Fort Myers near Cleveland Avenue (US 41), positioned just northwest of Colonial Boulevard. It is zoned CI, or Commercial Intensive, within the city of Fort Myers, providing a commercial setting for the stated retail, office, flex, and trade-related uses.
The property is in Fort Myers near Cleveland Avenue (US 41), positioned just northwest of Colonial Boulevard. It is zoned CI, or Commercial Intensive, within the city of Fort Myers, providing a commercial setting for the stated retail, office, flex, and trade-related uses.
Key Highlights
- 5,835 SF multi‑tenant retail, office, and flex building
- 2,500 SF available for lease
- Situated on 0.38 acres with eight parking spaces
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
$71,989
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
9.00%
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%
$1,439,780
$1.4M
Cap Rate 7%
$1,028,414
$1.0M
Cap Rate 9%
$799,878
$799.9K
Market Conditions
NOI Build-Up for 5,835 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
$122.5K $21.00/SF
− Vacancy
−$7.4K −$1.26/SF
EGI
$115.2K $19.74/SF
− OpEx
−$43.2K −$7.40/SF
NOI
$72.0K $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%
$1,439,780
Cap Rate 7%
$1,028,414
Cap Rate 9%
$799,878
Alternative Uses
Best Use
Retail
$1.09M
$956.8K – $1.28M
NOI $76,545 @ 7.0% cap · market cap 9.57%
Second Best
Mixed Use
$1.03M
$899.9K – $1.20M
NOI $71,989 @ 7.0% cap · market cap 9.00%
Theoretical Best
Office A
$1.84M
$1.61M – $2.14M
NOI $128,557 @ 7.0% cap · market cap 16.07%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
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Open Analytics
Current Use
Lease Details
Multi-tenant
Tenancy
Yes
Paved road access
Location Intelligence
Trade Area within ½ mile
1,867
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
Check the figures for this property
Cap Rate, Value Estimation, Potential NOI and more
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Market
Vacancy Rate% for Industrial in South region
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Frequently Asked Questions
What type of property is this?
Mixed-use property - Commercial-intensive zoning and Mildred Drive access support varied retail, office, flex, and trade-oriented uses.
Where is this mixed-use property located?
The property is located at 50 Mildred Dr Fort Myers, FL.
What is the asking price?
The asking price for this property is $800,000.
What are key features of this property?
This property features: 5,835 SF multi‑tenant retail, office, and flex building; 2,500 SF available for lease; Situated on 0.38 acres with eight parking spaces
