20,666 SqFt
20,666 SqFt
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
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
If you have been thinking about selling your home, or are looking to buy your dream home, Dina Marie Realty welcomes the opportunity to meet you!! Feel free to reach out to me so we can discuss your real estate needs.