16350 Innovation Ln Fort Myers, FL 33913
- Warehouses
- 20,666 SF
Current Use by Public Records
- Warehouses
Property Details for 16350 Innovation Ln
- Year built
- 2022
- Property size
- 20,666 SF
- Property type
- Warehouses
- Property subtype
- Industrial properties
Description
This exceptional Class A warehouse, located at 16350 Innovation Ln, Fort Myers, FL 33913, presents a compelling value-add investment opportunity. The 20,666 square foot single-story building, constructed in 2022, currently boasts 50% occupancy with one tenant under a NNN lease expiring January 31, 2027. The existing lease generates an annual NOI of $158,899. The property is zoned CPUD and offers significant upside potential. Currently configured for multiple units, the vacant 10,333 square feet provides an opportunity to increase income through additional leasing. Pro forma projections, based on leasing the vacant space at $19.00 per square foot, indicate a substantial increase in NOI to $400,000 and a 7.41% cap rate. The asking price is $5,399,950, representing a current cap rate of 2.94% and a price per square foot of $261.30. This property is a condominium ownership with a 2.2-year remaining lease term. The building features a 20-foot ceiling height. This is a rare chance to acquire a well-located, modern warehouse with significant income growth potential in a thriving Florida market.
Value Estimation
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CAP approach
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Comparable approach
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Alternative Use
Location Insight
- Map
- Local Demand
- City
- Fort Myers
- County
- Lee
- State
- Florida
- Longitude
- -81.7524
- Latitude
- 26.4955
