Office/Warehouse Flex
For Sale
Contact for pricing
5893 Enterprise Pkwy, Fort Myers, FL 33905
Flex office/warehouse with two updated office areas, a dedicated truckwell, and five roll-up loading doors.
Property Size20,000 SF
Price / SF$240
Days on Market152
Property Features for 5893 Enterprise Pkwy
General Information
Standard status
Active
Size
20,000 SF
Property subtype
INDUSTRIAL
Site & Location
Highway Access
Yes
Outdoor Storage
Yes
Additional Details
Drive-In Doors
5
Building Details
Building Size
20,000 SF
Listing Agency:
Lee & Associates | Orlando
(239) 209-0458
Listed By:
Brock Rasmussen · License #3345374
(239) 209-0458
Source:
Moodyscre
Added: Mar 12
Changed: Jul 29
Last Checked: Jul 29 at 12:09PM
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 office/warehouse flex building includes modernized office buildout with two separate updated office areas. The industrial portion is supported by a dedicated truckwell for shipping and receiving and offers ample outdoor storage for operational flexibility. Vehicle access is provided by five 12' x 14' roll-up doors, supporting loading, staging, and equipment entry.
The property is located in Billy Creek Commerce Park and is described as just minutes from I-75. The overall configuration is designed to accommodate both office functions and day-to-day warehouse and distribution activity.
For buyers seeking a combined work-and-storage layout, this 20,000± SF facility provides multiple loading points, separated office space, and exterior storage space alongside its warehouse operations.
The property is located in Billy Creek Commerce Park and is described as just minutes from I-75. The overall configuration is designed to accommodate both office functions and day-to-day warehouse and distribution activity.
For buyers seeking a combined work-and-storage layout, this 20,000± SF facility provides multiple loading points, separated office space, and exterior storage space alongside its warehouse operations.
Key Highlights
- 20,000± SF office/warehouse in Billy Creek Commerce Park
- Two separate, updated office areas
- Dedicated truckwell for efficient shipping and receiving
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
$343,699
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
7.16%
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%
$6,873,980
$6.9M
Cap Rate 7%
$4,909,986
$4.9M
Cap Rate 9%
$3,818,878
$3.8M
Market Conditions
NOI Build-Up for 20,000 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
$499.2K $24.96/SF
− Vacancy
−$40.9K −$2.05/SF
EGI
$458.3K $22.91/SF
− OpEx
−$114.6K −$5.73/SF
NOI
$343.7K $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%
$6,873,980
Cap Rate 7%
$4,909,986
Cap Rate 9%
$3,818,878
Alternative Uses
Best Use
Office B
$4.91M
$4.30M – $5.73M
NOI $343,699 @ 7.0% cap · market cap 7.16%
Second Best
Flex RnD
$3.13M
$2.73M – $3.65M
NOI $218,790 @ 7.0% cap · market cap 4.56%
Theoretical Best
Office A
$6.29M
$5.51M – $7.34M
NOI $440,640 @ 7.0% cap · market cap 9.18%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Current Use
Lease Details
5
Drive-in doors
Yes
Highway access
Location Intelligence
Trade Area within ½ mile
398
Businesses Nearby
Under-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 Office in South region
Questions? Ask Rey
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Frequently Asked Questions
What type of property is this?
Flex space - Flex office/warehouse with two updated office areas, a dedicated truckwell, and five roll-up loading doors.
Where is this flex space located?
The property is located at 5893 Enterprise Pkwy Fort Myers, FL.
What is the asking price?
The asking price for this property is $4,800,000.
What are key features of this property?
This property features: 20,000± SF office/warehouse in Billy Creek Commerce Park; Two separate, updated office areas; Dedicated truckwell for efficient shipping and receiving
