6
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$5,299,950
Est. payment /mo
20,666 SqFt
Price Dropped by $100K
16350 Innovation LN Fort Myers, FL 33913
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UPDATED:
12/11/2024 01:04 AM
Key Details
Property Type Commercial
Sub Type Warehouse
Listing Status Active
Purchase Type For Sale
Square Footage 20,666 sqft
Price per Sqft $256
MLS Listing ID 224086054
Construction Status Resale
HOA Y/N No
Year Built 2022
Annual Tax Amount $7,810
Tax Year 2023
Lot Size 0.474 Acres
Acres 0.4738
Property Description
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%
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%
Location
State FL
County Lee
Area Fm20 - Fort Myers Area
Rooms
Bedroom Description NaN
Interior
Fireplace No
Exterior
Utilities Available Electricity Available, Sewer Available, Trash Collection, Water Available
Waterfront Description None
Garage No
Building
Story 1
Construction Status Resale
Others
Senior Community No
Tax ID 06-46-26-L4-1500A.0000
Listed by Bartley Realty LLLP • David Bartley, Sr