3531 Old Metro Pkwy

• OUTDOOR STORAGE: The site’s yard gives the tenant usable space outside the building for slab staging, materials storage and truck parking. Industrial buildings with a usable yard command a premium from users who need both indoor and outdoor space, and few comparable options exist. The yard adds value beyond the building and gives the next owner more flexibility when re-leasing.
• CRANE-SERVED WAREHOUSE: The warehouse has two overhead bridge cranes, which developers rarely build on spec and which are costly to add later. The cranes make the building a fit for fabrication, stone, steel and equipment users who can’t operate in a standard warehouse. Tenants who have built their operations around cranes are less likely to relocate.
• FAVORABLE LEASE STRUCTURE: Stone Place Fort Myers LLC leases 100% of the building on a NNN lease at $445,500 annually ($16.21/SF), with operating expenses passed through to the tenant. The owner receives passive income with minimal expense exposure. Fixed 3% annual increases grow rent to $486,810 in the final lease year, a built in hedge against inflation. The offering is priced at a 7.15% going in cap rate, with a 7.54% average cap rate over the remaining term.
• NEW ROOF (2022): The roof was replaced in 2022, which removes one of the largest capital expenses on an industrial building for the next owner. In Southwest Florida, roof age is a primary driver of insurability and premium cost, which gives this asset a clear advantage with insurers and lenders. Paired with the NNN lease, the new roof makes the property a low maintenance, hands off investment with limited near term capital needs.
• HEAVY INDUSTRIAL ZONING: IH (Industrial Heavy) zoning allows one of the broadest ranges of industrial uses in the market, from manufacturing and processing to contractor and distribution operations. The ±27,480 SF building on ±1.38 acres combines ±24,578 SF of warehouse with ±1,269 SF of showroom and ±1,633 SF of office. It is supported by 600 amp three phase power, two dock high doors, a ramp, an interior dock and a fenced, paved truck court. This functionality appeals to a deep pool of users and protects leasing and resale value over the long term.
• INFILL LOCATION: The property sits on the established Old Metro Pkwy industrial corridor, with direct access to US 41, Colonial Blvd and I 75, and is ±14.3 miles from RSW. Infill industrial sites near Fort Myers’ core employment centers are increasingly scarce, which limits new competing supply. Population within 5 miles is 153,882 and is projected to reach 168,620 by 2030 (+9.6%), a growing customer base for the contractor, service and last mile users that drive demand for this product.
• TAX ADVANTAGED STATE: Florida has no personal state income tax, so investors keep more of their rental income and sale proceeds than they would in high tax states. Effective October 2025, Florida also eliminated sales tax on commercial rent, which lowers the tenant’s total occupancy cost and makes the lease more durable. These advantages continue to drive strong demand from 1031 exchange and out of state buyers, which supports liquidity at exit.