Multi-Building Flex Space
For Sale
Contact for pricing
7896 Interstate Court, North Fort Myers, FL 33917
Three-building industrial property combining renovated offices, warehouse capacity, storage, and supporting space for owner-users.
Property Size8,616 SF
Price / SF$193.52
Days on Market10
Property Features for 7896 Interstate Court
General Information
Standard status
Active
Size
8,616 SF
Total Parking Spaces
22
Property subtype
Industrial
Warehouse & Industrial
Warehouse Space
5,500 SF
Office Build-Out
2,000 SF
Drive-In Doors
4
Additional Details
Asking Price
$1,667,400
Building Details
Year Renovated
2024
Buildings
3
Listing Agency:
Mayhugh Commercial Advisors
Listed By:
Chase Mayhugh, SIOR, CCIM · License #BK3053987
(239) 898-9685
Source:
Crexi
Added: Sep 1
Changed: Sep 9
Last Checked: Sep 9 at 4:00PM
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 flex space property includes three industrial buildings totaling approximately 8,616 SF. The principal facility contains about 2,000 SF of renovated office space and 5,500 SF of warehouse area. Office improvements include a reception area, kitchen, five private offices, and two restrooms. The warehouse features 20’ eave height, 24’ peak height, four 12’ x 14’ grade-level overhead doors, two exhaust fans, and a 5’ loading-area awning. A new roof was installed in 2024.
Two additional buildings at 7892 and 7894 Interstate Court contribute approximately 1,116 SF and offer space for storage, studio/office use, or related functions. Parking includes 16 spaces at the front and six oversized spaces measuring 32’ deep behind the primary building. The property is situated within Bayshore Industrial Park near Bayshore Road and I-75 Exit 143 in North Fort Myers, Florida.
Two additional buildings at 7892 and 7894 Interstate Court contribute approximately 1,116 SF and offer space for storage, studio/office use, or related functions. Parking includes 16 spaces at the front and six oversized spaces measuring 32’ deep behind the primary building. The property is situated within Bayshore Industrial Park near Bayshore Road and I-75 Exit 143 in North Fort Myers, Florida.
Key Highlights
- Three industrial buildings totaling approximately 8,616 SF
- Primary facility includes approximately 2,000 SF office and 5,500 SF warehouse space
- Warehouse offers 20’ eave height and 24’ peak height
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
$94,255
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
5.65%
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%
$1,885,100
$1.9M
Cap Rate 7%
$1,346,500
$1.3M
Cap Rate 9%
$1,047,278
$1.0M
Market Conditions
NOI Build-Up for 8,616 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
$155.1K $18.00/SF
− Vacancy
−$10.1K −$1.17/SF
EGI
$145.0K $16.83/SF
− OpEx
−$50.8K −$5.89/SF
NOI
$94.3K $10.94/SF
Area
Lee County, FL
Vacancy
6.50%
Lease Rate
$18.00 /SF/Yr
Expense Ratio
35.00%
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%
$1,885,100
Cap Rate 7%
$1,346,500
Cap Rate 9%
$1,047,278
Alternative Uses
Best Use
Flex RnD
$1.35M
$1.18M – $1.57M
NOI $94,255 @ 7.0% cap · market cap 5.65%
Second Best
Warehouse
$1.25M
$1.10M – $1.46M
NOI $87,848 @ 7.0% cap · market cap 5.27%
Theoretical Best
Office A
$2.71M
$2.37M – $3.16M
NOI $189,828 @ 7.0% cap · market cap 11.38%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
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Open Analytics
Current Use
Lease Details
4
Drive-in doors
Location Intelligence
Trade Area within ½ mile
121
Businesses Nearby
Well-served
Demand for This Use
Explore this area
Business Placement
Demographics for 33917, FL
30,702
Population
18,789
Households
1.6
Avg Household Size
61
Median Age
19%
College-Educated
89%
High-School Grad
65.5 sq mi
ZIP Area
469
Density / Sq Mi
$54,198
Median Household Income
$35,670
Median Earnings
$1,320
Median Rent
$170,100
Median Home Value
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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?
Flex space - Three-building industrial property combining renovated offices, warehouse capacity, storage, and supporting space for owner-users.
Where is this flex space located?
The property is located at 7896 Interstate Court North Fort Myers, FL.
What is the asking price?
The asking price for this property is $1,667,400.
What are key features of this property?
This property features: Three industrial buildings totaling approximately 8,616 SF; Primary facility includes approximately 2,000 SF office and 5,500 SF warehouse space; Warehouse offers 20’ eave height and 24’ peak height
