16350 Innovation Ln Fort Myers, FL 33913

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 ch...ance to increase income through additional leasing. Property Details: â?¢ Total Size: 20,666 square feet â?¢ Current Occupancy: 50% leased â?¢ Lease Terms: 10,333 square feet leased at $13,241.66 per month ($158,899.92 annually) â?¢ Vacant Space: 10,333 square feet, divisible into four units of 2,583 square feet each â?¢ Potential Rental Income: Lease vacant units at $19.00 per square foot for a total of $196,308 annually. Financial Projections: â?¢ Base Price: $5,300,000 ($256.46 PSF) â?¢ Improvement Costs (for four separate units): $300,000 â?¢ Total Investment: $5,600,000 â?¢ Projected Total Income: $355,207 â?¢ Cap Rate: 6.7% â?¢ Estimated Gross Income in 2027: $400,000 â?¢ Estimated Cap Rate (post-improvements): 7.45% Continue reading