Industrial Warehouse with
For Sale
$1,600,000
Pending
5605 2nd St W, Lehigh Acres, FL 33971
Industrial warehouse includes 18’ ceilings, multiple roll-up doors, and light industrial zoning with office space on-site.
Property Size7,800 SF
Lot Size0.73 Acres
Days on Market299
Property Features for 5605 2nd St W
General Information
Standard status
Pending
Size
7,800 SF
Total Parking Spaces
20
Lot size
0.73 Acres
Additional Details
Fenced Yard
Yes
Clear Height
18 ft
Listing Agency:
RE/MAX Realty Group
(239) 989-7077
Listed By:
Pam Bratton · License #BK3228228
(239) 989-7077
Source:
Exprealty
Added: Oct 14, 2025
Changed: Jul 26
Last Checked: Aug 7 at 9:26AM
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 RE/MAX Realty Group
Investment Insights
Based on property information with market context.
A for-sale industrial warehouse configured with 5,850± SF of industrial space and 1,950± SF of office area, set within a 7,800± SF building. The property features 18’ ceiling height and includes (3) 14’ roll-up doors, along with parking for 20 spaces. A fenced 0.73± acre parcel provides added perimeter security.
The site is located at 5605 2nd St W in Lehigh Acres, positioned in Westgate Industrial Park between Lee Blvd and State Rd 82, with light industrial zoning for appropriate commercial and operational uses.
Occupancy is scheduled for March 1, 2027, following the expiration of an in-place lease at the end of February, 2027.
The site is located at 5605 2nd St W in Lehigh Acres, positioned in Westgate Industrial Park between Lee Blvd and State Rd 82, with light industrial zoning for appropriate commercial and operational uses.
Occupancy is scheduled for March 1, 2027, following the expiration of an in-place lease at the end of February, 2027.
Key Highlights
- 7,800± SF industrial warehouse with 5,850± SF industrial space and 1,950± SF office space
- 18’ ceiling height and (3) 14’ roll‑up doors
- 0.73± acre fenced parcel in Westgate Industrial Park
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
$134,043
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
8.38%
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%
$2,680,860
$2.7M
Cap Rate 7%
$1,914,900
$1.9M
Cap Rate 9%
$1,489,367
$1.5M
Market Conditions
NOI Build-Up for 7,800 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
$194.7K $24.96/SF
− Vacancy
−$16.0K −$2.05/SF
EGI
$178.7K $22.91/SF
− OpEx
−$44.7K −$5.73/SF
NOI
$134.0K $17.18/SF
Area
Lee County, FL
Vacancy
8.20%
Lease Rate
$24.96 /SF/Yr
Expense Ratio
25.00%
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%
$2,680,860
Cap Rate 7%
$1,914,900
Cap Rate 9%
$1,489,367
Alternative Uses
Best Use
Office B
$1.91M
$1.68M – $2.23M
NOI $134,043 @ 7.0% cap · market cap 8.38%
Second Best
Flex RnD
$1.22M
$1.07M – $1.42M
NOI $85,328 @ 7.0% cap · market cap 5.33%
Theoretical Best
Office A
$2.45M
$2.15M – $2.86M
NOI $171,850 @ 7.0% cap · market cap 10.74%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Current Use
Lease Details
18 ft
Clear height
Yes
Fenced yard
Location Intelligence
Trade Area within ½ mile
328
Businesses Nearby
Balanced
Demand for This Use
Explore this area
Business Placement
Demographics for 33971, FL
26,333
Population
8,802
Households
3
Avg Household Size
33
Median Age
15%
College-Educated
85%
High-School Grad
17.0 sq mi
ZIP Area
1,549
Density / Sq Mi
$72,784
Median Household Income
$38,898
Median Earnings
$1,678
Median Rent
$271,900
Median Home Value
Market
Vacancy Rate% for Office 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 - Industrial warehouse includes 18’ ceilings, multiple roll-up doors, and light industrial zoning with office space on-site.
Where is this warehouse located?
The property is located at 5605 2nd St W Lehigh Acres, FL.
What is the asking price?
The asking price for this property is $1,600,000.
What are key features of this property?
This property features: 7,800± SF industrial warehouse with 5,850± SF industrial space and 1,950± SF office space; 18’ ceiling height and (3) 14’ roll‑up doors; 0.73± acre fenced parcel in Westgate Industrial Park
