Fenced Flex Space with Roll-Up
For Sale
$1,600,000
Pending
5605 2nd Street W, Lehigh Acres, FL 33971
CommercialSale, Lehigh Acres, FL
Property Size7,800 SF
Lot Size0.73 Acres
Days on Market335
Property Features for 5605 2nd Street W
General Information
Property type
Commercial Sale
Property subtype
Other
Zoning description
IL
Fencing
Fenced
Directions
From Lee Blvd and south on Leonard Blvd North and right on Lee Street and left on Waldo Avenue.
Subdivision
LA05 - West Lehigh Acres
Standard status
Pending
APN
30-44-26-00-00001.0600
Lot size
0.73 Acres
Taxes and HOA fees
Tax Year
2024
Tax Description
PAR LOC IN S 1/2 OF S 1/2 OF SEC AS DESC IN 2006000063313
Tax Annual Amount
9046
Legal Description
PAR LOC IN S 1/2 OF S 1/2 OF SEC AS DESC IN 2006000063313
Building Details
Year built
2005
Floors in Building
1
Listing Agency:
RE/MAX Realty Group · RE/MAX International
(239) 489-0444
Listed By:
Pam Bratton · License #258017724
(239) 989-7077
Added: Oct 1, 2025
Changed: Aug 19
Last Checked: Aug 31 at 7:06PM
MLS# 2025014961
Copyright © 2026 Florida Gulf Coast Multiple Listing Service, Inc. All rights reserved. All information provided by the listing agent/broker is deemed reliable but is not guaranteed and should be independently verified.
Investment Insights
Based on property information with market context.
This flex space includes a 7,800+/- SF building divided between 5,850+/- SF of industrial area and 1,950+/- SF of office space. The office component provides 5-6 offices, two conference rooms, and a kitchenette, while the warehouse area includes an 18' ceiling and three 14' roll-up doors. The property was built in 2005 and includes a fenced 0.73+/- acre parcel with 20 parking spaces.
Located at 5605 2nd Street W in Lehigh Acres, the property is positioned in Westgate Industrial Park between Lee Blvd. and State Rd. 82. Light industrial zoning supports its commercial configuration. A tenant is in place through February 2027, with occupancy available March 1, 2027.
Located at 5605 2nd Street W in Lehigh Acres, the property is positioned in Westgate Industrial Park between Lee Blvd. and State Rd. 82. Light industrial zoning supports its commercial configuration. A tenant is in place through February 2027, with occupancy available March 1, 2027.
Key Highlights
- 7,800+/- SF building with 5,850+/- SF industrial and 1,950+/- SF office areas
- 5‑6 offices, 2 conference rooms, and one kitchenette
- 18' ceiling height with (3) 14' roll‑up doors
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
Property Profile
Current Use
Lease Details
18 ft
Clear height
Single-tenant
Tenancy
Yes
Fenced yard
Location Intelligence
Trade Area within ½ mile
578
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
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Frequently Asked Questions
What type of property is this?
Flex space - Industrial and office areas occupy a fenced light-industrial property with flexible business-use potential.
Where is this flex space located?
The property is located at 5605 2nd Street 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 building with 5,850+/- SF industrial and 1,950+/- SF office areas; 5‑6 offices, 2 conference rooms, and one kitchenette; 18' ceiling height with (3) 14' roll‑up doors
