16350 Innovation LN FORT MYERS FL 33913 MLS #224086054

16350 Innovation LN
FORT MYERS, FL, 33913
$5,399,950
Beds
0 Baths
20,666 SqFt
0.47 Acres
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Listing Provided Courtesy of Bartley Realty LLLP
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%

Property Details

Price:
$5,399,950
MLS #:
224086054
Status:
Active
Beds:
0
Baths:
0
Address:
16350 Innovation LN
Type:
Commercial
Subtype:
Industrial
City:
FORT MYERS
Listed Date:
Oct 25, 2024
State:
FL
Finished Sq Ft:
20,666
Total Sq Ft:
20,666
ZIP:
33913
Lot Size:
20,639 sqft / 0.47 acres (approx)
Year Built:
2022
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CENTURY 21 Carioti

CENTURY 21 Carioti

Florida, Real Estate

Phone 800 783-8847

CENTURY 21 Carioti is a full service real estate company servicing the State of Florida with a headquarters in Orlando, FL.

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Tax Year
2023
Taxes
$7,811

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disclosure
Courtesy of Bartley Realty LLLP. Disclaimer: All data relating to real estate for sale on this page comes from the Broker Reciprocity (BR) of the Naples, FL. Detailed information about real estate listings held by brokerage firms other than CENTURY 21 Carioti include the name of the listing broker. Neither the listing company nor CENTURY 21 Carioti shall be responsible for any typographical errors, misinformation, misprints and shall be held totally harmless. The Broker providing this data believes it to be correct, but advises interested parties to confirm any item before relying on it in a purchase decision. Copyright 2024. Naples, FL. All rights reserved.
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16350 Innovation LN
FORT MYERS, FL