Industrial Flex Condominium
For Sale
$640,000
8801 Business Park Drive, Fort Myers, FL 33912
Move-in ready flex unit with private office buildout and high-clear warehouse access via grade-level overhead door.
Property Size22,421 SF
Price / SF$256
Days on Market85
Property Features for 8801 Business Park Drive
General Information
Standard status
Active
Size
22,421 SF
Property subtype
Industrial
Warehouse & Industrial
Clear Height
24 ft
Drive-In Doors
1
Additional Details
Highway Access
Yes
Office Units
2
Building Details
Building Size
22,421 SF
Year Built
2008
Year Renovated
2020
Listed By:
Meaghan Schmitt
(239) 989-8171
Source:
Lee-associates
Added: Jun 12
Changed: Sep 3
Last Checked: Sep 4 at 5:15AM
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 Meaghan Schmitt
Investment Insights
Based on property information with market context.
This industrial flex condominium offers a functional office/warehouse layout with a built-out front office component and an open rear warehouse area. The front portion includes two private offices, a reception or showroom area, and a restroom, supporting customer-facing work and daily operations. The rear provides open warehouse space with a 500 SF mezzanine to expand usable capacity. Warehouse height is designed for flexibility with 24' high clear ceilings, and the unit includes 13' overhead door access at grade level.
The property is located in the Alico Road Business Park in Fort Myers, with convenient access to major transportation corridors including I-75 and US-41. It is also described as minutes from Southwest Florida International Airport. The business park setting includes convenient parking and easy access for employees, customers, and service vehicles.
For owner-users and operators, the combination of office amenities and open warehouse space fits a range of commercial activities, including contractor offices, light manufacturing, service businesses, distribution, showroom use, and general warehouse operations. For investors, the unit is presented as professionally maintained industrial flex product with modern utilities including electric, water, sewer, and telecommunications connectivity. The metal roof was installed in 2025, and the roof and painting were redone in 2025, with an effective year built of 2020 (completely redone).
The property is located in the Alico Road Business Park in Fort Myers, with convenient access to major transportation corridors including I-75 and US-41. It is also described as minutes from Southwest Florida International Airport. The business park setting includes convenient parking and easy access for employees, customers, and service vehicles.
For owner-users and operators, the combination of office amenities and open warehouse space fits a range of commercial activities, including contractor offices, light manufacturing, service businesses, distribution, showroom use, and general warehouse operations. For investors, the unit is presented as professionally maintained industrial flex product with modern utilities including electric, water, sewer, and telecommunications connectivity. The metal roof was installed in 2025, and the roof and painting were redone in 2025, with an effective year built of 2020 (completely redone).
Key Highlights
- Nearly 2,500 SF industrial flex condo with functional office/warehouse layout and rear open warehouse with 500 SF mezzanine
- Front buildout includes 2 private offices, reception/showroom area, and a restroom
- Warehouse features 24' high clear ceiling heights and grade‑level 13' overhead door access
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
4.27%
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 4.27%
Second Best
Warehouse
$364.1K
$318.6K – $424.8K
NOI $25,490 @ 7.0% cap · market cap 3.98%
Theoretical Best
Office A
$786.9K
$688.5K – $918.0K
NOI $55,080 @ 7.0% cap · market cap 8.61%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
24 ft
Clear height
1
Drive-in doors
2
Office units
Yes
Highway access
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 - Move-in ready flex unit with private office buildout and high-clear warehouse access via grade-level overhead door.
Where is this flex space located?
The property is located at 8801 Business Park Drive Fort Myers, FL.
What is the asking price?
The asking price for this property is $640,000.
What are key features of this property?
This property features: Nearly 2,500 SF industrial flex condo with functional office/warehouse layout and rear open warehouse with 500 SF mezzanine; Front buildout includes 2 private offices, reception/showroom area, and a restroom; Warehouse features 24' high clear ceiling heights and grade‑level 13' overhead door access
