16350 Innovation Fort Myers, FL 33913
Overview
- Status: Active
- Bed(s) No info
- Bath(s)
- Half Bath(s) 0
- Parking No info
- Size: 20,666 ft2/1,919.93 m2
- Price Per: $256.46 ft2/$2,760.49 m2
- Type: Commercial/Investment
- Built: 2022
- HOA: No info
- MLS Number: 224086054
- View No info
- On Site: 60 days
- Updated: Listing Refreshed: 14 Days Ago
Investment Opportunity: Value-Add Flex Space in Fort Myers FL 16350 Innovation Lane Fort Myers FL 33913 This 20,666 square foot flex-style warehouse offers a unique value-add investment opportunity. Currently configured for eight individual units, only 50% of the space is leased, providing a chance to increase income through additional leasing. Property Details: • Total Size: 20,666 square feet • Current Occupancy: 50% leased • Lease Terms: 10,333 square feet leased at $13,241.66 per month ($158,899.92 annually) • Vacant Space: 10,333 square feet, divisible into four units of 2,583 square feet each • Potential Rental Income: Lease vacant units at $19.00 per square foot for a total of $196,308 annually. Financial Projections: • Base Price: $5,300,000 ($256.46 PSF) • Improvement Costs (for four separate units): $300,000 • Total Investment: $5,600,000 • Projected Total Income: $355,207 • Cap Rate: 6.7% • Estimated Gross Income in 2027: $400,000 • Estimated Cap Rate (post-improvements): 7.45%
Price History
Date | Event | Price | Change Rate | Price Per |
---|---|---|---|---|
12/10/2024 | Price Reduced | $5,299,950.00 | 1.9% | $256.46 ft2/$2,760.49 m2 |
10/25/2024 | Listed | $5,399,950.00 | $261.30 ft2/$2,812.57 m2 |