$5,399,950
16350 Innovation LN Fort Myers, FL 33913
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$5,399,950
Est. payment /mo
20,666 SqFt
UPDATED:
10/26/2024 05:38 PM
Key Details
Property Type Condo, Manufactured Home, Commercial
Sub Type Industrial: Business Park,Industrial: Condominium,Industrial: Distribution Warehouse,Industrial: Flex Space,Industrial: Manufacturing,Industrial: Warehouse
Listing Status Active
Purchase Type For Sale
Square Footage 20,666 sqft
Price per Sqft $261
MLS Listing ID 224086054
Originating Board Naples
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
Interior
Inclusions Building only
Exterior
Utilities Available Electricity Available, Sewer Available, Trash Removal, Water Available
Waterfront No
Waterfront Description None
Private Pool No
Building
New Construction No
Others
Tax ID 06-46-26-L4-1500A.0000
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Listed by Bartley Realty LLLP • David Bartley, Sr
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