Flex Space with Fenced
For Sale
Contact for pricing
7899 Drew Cir, Fort Myers, FL 33967
Configured with office, showroom, warehouse, receiving, and outdoor storage components.
Property Size27,990 SF
Price / SF$196.50
Days on Market136
Property Features for 7899 Drew Cir
General Information
Standard status
Active
Size
27,990 SF
Total Parking Spaces
20
Property subtype
INDUSTRIAL
Site & Location
Fenced Yard
Yes
Outdoor Storage
Yes
Warehouse & Industrial
Dock-High Doors
2
Drive-In Doors
2
Sprinkler System
Yes
Amenities
offices
reception area
breakroom
retail showroom
restrooms
locker room with changing room and shower
covered carport
Properties For Sale
at 7899 Drew Cir Contact us- Floor
- Bldg
- Size
- 27,990 SF
- Type
- INDUSTRIAL
- Lease Type
- NNN
- Availability
- AVAILABLE, Now
- Sublease
- No
7899 Drew Cir
- Large fenced outdoor storage yard
- 2,800± SF covered carport with fire suppression
-...
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Contact us
Listing Agency:
SVN - Commercial Partners | Sarasota
(239) 246-5380
Listed By:
Bryan J. Myers · License #BK3231913
(239) 246-5380
Source:
Moodyscre
Added: Apr 16
Changed: Aug 29
Last Checked: Aug 29 at 1:53PM
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 SVN - Commercial Partners | Sarasota
Investment Insights
Based on property information with market context.
This 27,990-square-foot flex property combines office, showroom, warehouse, and receiving areas with a large fenced outdoor storage yard. The building includes five offices, a reception area, breakroom, retail showroom, three restrooms, and a locker room with changing space and shower. Warehouse support areas include an interior receiving office, restroom, and storage. A 2,800± SF covered carport is equipped with fire suppression.
Loading infrastructure includes three 14’×12’ roll-up doors, two 12’×10’ drive-through doors, and a 1,925 SF inclined loading dock with two dock-high doors and levelers. The building offers 24’ ridge height, 22’ eave height, LED lighting, and full fire-suppression systems. Twenty on-site parking spaces serve the property at 7899 Drew Cir in Fort Myers, Florida.
Loading infrastructure includes three 14’×12’ roll-up doors, two 12’×10’ drive-through doors, and a 1,925 SF inclined loading dock with two dock-high doors and levelers. The building offers 24’ ridge height, 22’ eave height, LED lighting, and full fire-suppression systems. Twenty on-site parking spaces serve the property at 7899 Drew Cir in Fort Myers, Florida.
Key Highlights
- 27,990‑square‑foot flex property with a large fenced outdoor storage yard
- 2,800± SF covered carport with fire suppression
- Three 14’×12’ roll‑up doors and two 12’×10’ drive‑through 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
$481,007
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
8.75%
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%
$9,620,140
$9.6M
Cap Rate 7%
$6,871,529
$6.9M
Cap Rate 9%
$5,344,522
$5.3M
Market Conditions
NOI Build-Up for 27,990 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
$698.6K $24.96/SF
− Vacancy
−$57.3K −$2.05/SF
EGI
$641.3K $22.91/SF
− OpEx
−$160.3K −$5.73/SF
NOI
$481.0K $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%
$9,620,140
Cap Rate 7%
$6,871,529
Cap Rate 9%
$5,344,522
Alternative Uses
Best Use
Office B
$6.87M
$6.01M – $8.02M
NOI $481,007 @ 7.0% cap · market cap 8.75%
Second Best
Flex RnD
$4.37M
$3.83M – $5.10M
NOI $306,197 @ 7.0% cap · market cap 5.57%
Theoretical Best
Office A
$8.81M
$7.71M – $10.28M
NOI $616,676 @ 7.0% cap · market cap 11.21%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
2
Dock-high doors
2
Drive-in doors
Yes
Sprinkler system
Yes
Fenced yard
Location Intelligence
Trade Area within ½ mile
566
Businesses Nearby
Balanced
Demand for This Use
Explore this area
Business Placement
Demographics for 33967, FL
28,174
Population
11,685
Households
2.4
Avg Household Size
35
Median Age
36%
College-Educated
92%
High-School Grad
7.6 sq mi
ZIP Area
3,707
Density / Sq Mi
$84,787
Median Household Income
$48,792
Median Earnings
$1,695
Median Rent
$321,800
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 - Configured with office, showroom, warehouse, receiving, and outdoor storage components.
Where is this flex space located?
The property is located at 7899 Drew Cir Fort Myers, FL.
What is the asking price?
The asking price for this property is $5,500,000.
What are key features of this property?
This property features: 27,990‑square‑foot flex property with a large fenced outdoor storage yard; 2,800± SF covered carport with fire suppression; Three 14’×12’ roll‑up doors and two 12’×10’ drive‑through doors
