Industrial Flex Condominium in
For Sale
$650,000
8801 Business Park Dr 203, Fort Myers, FL 33912
Functional office/warehouse layout in a desirable business park.
Property Size2,443 SF
Price / SF$260
Days on Market88
Property Features for 8801 Business Park Dr 203
General Information
Standard status
Active
Size
2,443 SF
Property subtype
Commercial
Taxes and HOA fees
Annual Taxes
$4,080
Building Details
Building Size
2,443 SF
Year Built
2008
Stories
2
Listing Agency:
(239) 734-0776
Listed By:
Edward Burnham
(239) 734-0776
Source:
Elliman
Added: May 18
Changed: Aug 8
Last Checked: Aug 8 at 3:09PM
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 Edward Burnham
Investment Insights
Based on property information with market context.
This industrial flex condominium is available for sale or lease in the Alico Road Business Park. The property offers access to I-75 and US-41, and is located minutes from Southwest Florida International Airport. The unit features a functional office/warehouse layout designed to accommodate commercial uses including contractor offices, light manufacturing, service businesses, distribution, showroom, or general warehouse operations. The front portion of the space includes 2 private offices, a reception or showroom area, and a restroom. The rear portion of the unit provides an open warehouse space with a 500 square foot mezzanine. The warehouse area features 24' ceiling heights and grade-level 13' overhead door access. The unit incorporates a mezzanine area to maximize usable capacity. The property is constructed of concrete block with a metal roof (2025) and includes electric, water, sewer, and telecommunications connectivity. The property offers parking and easy access for employees, customers, and service vehicles. The Alico corridor is surrounded by distribution centers, corporate offices, and expanding residential communities. The building's roof and painting were redone in 2025. Effective year built 2020, original year built 2008.
Key Highlights
- Move‑in ready, flexible space suitable for diverse commercial uses.
- Excellent location in the Alico Road Business Park with convenient access to I‑75, US‑41, and Southwest Florida International Airport.
- Functional layout with private offices, reception/showroom area, restroom, and open warehouse space with a 500sf mezzanine.
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
$27,349
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
4.21%
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%
$546,980
$547.0K
Cap Rate 7%
$390,700
$390.7K
Cap Rate 9%
$303,878
$303.9K
Market Conditions
NOI Build-Up for 2,500 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
$45.0K $18.00/SF
− Vacancy
−$2.9K −$1.17/SF
EGI
$42.1K $16.83/SF
− OpEx
−$14.7K −$5.89/SF
NOI
$27.3K $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%
$546,980
Cap Rate 7%
$390,700
Cap Rate 9%
$303,878
Alternative Uses
Best Use
Flex RnD
$390.7K
$341.9K – $455.8K
NOI $27,349 @ 7.0% cap · market cap 4.21%
Second Best
Warehouse
$364.1K
$318.6K – $424.8K
NOI $25,490 @ 7.0% cap · market cap 3.92%
Theoretical Best
Office A
$786.9K
$688.5K – $918.0K
NOI $55,080 @ 7.0% cap · market cap 8.47%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Location Intelligence
Trade Area within ½ mile
132
Businesses Nearby
Well-served
Demand for This Use
Explore this area
Business Placement
Demographics for 33912, FL
19,146
Population
12,078
Households
1.6
Avg Household Size
61
Median Age
48%
College-Educated
97%
High-School Grad
21.2 sq mi
ZIP Area
903
Density / Sq Mi
$101,043
Median Household Income
$54,143
Median Earnings
$1,653
Median Rent
$367,800
Median Home Value
Market
Vacancy Rate% for Industrial in South region
Questions? Ask Rey
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Frequently Asked Questions
What type of property is this?
Flex space - Functional office/warehouse layout in a desirable business park.
Where is this flex space located?
The property is located at 8801 Business Park Dr 203 Fort Myers, FL.
What is the asking price?
The asking price for this property is $650,000.
What are key features of this property?
This property features: Move‑in ready, flexible space suitable for diverse commercial uses.; Excellent location in the Alico Road Business Park with convenient access to I‑75, US‑41, and Southwest Florida International Airport.; Functional layout with private offices, reception/showroom area, restroom, and open warehouse space with a 500sf mezzanine.
