16350 Innovation LN, Fort Myers, FL, 33913
2022
20,666 sqft
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%
Status:
Active
Type:
Commercial
Levels:
1
Acreage:
0.47
Est. Taxes:
$7,811
Utilities
3-Phase Electric,Electric,Sewer,Trash Removal,Water
Days on Market:
6
MLS #:
224086054
Community Info
School Info
Walk Score
Yelp
Similar Properties
New or Coming Soon Properties
Copyright ©2024 The source of this real property information is the copyrighted and proprietary database compilation of the Southwest Florida MLS organizations Copyright Southwest Florida MLS organizations. All rights reserved.
Listing courtesy of Bartley Realty LLLP Phone: 239-261-1186