Four-Suite Office
For Sale
$950,000
16048 SAN CARLOS Boulevard, Fort Myers, FL 33908
SINGLE_FAMILY - FORT MYERS, FL
Property Size4,000 SF
Lot Size0.69 Acres
Price / SF$239.90
Days on Market200
Property Features for 16048 SAN CARLOS Boulevard
General Information
Property type
Residential
Property subtype
Office
Zoning
C-1A
Appliances
Refrigerator
Subdivision
PROGRESSIVE OIL CO
Lot features
Central Business District, Oversized Lot
Directions
From US-41 (Tamiami Trail), head south on San Carlos Blvd toward Fort Myers Beach-16048 San Carlos Blvd will be on your right, just south of Kelly Rd, with easy access and on-site parking.
Standard status
Active
APN
06-46-24-00-00003.1080
Size
3,960 SF
Lot size
0.69 Acres
Taxes and HOA fees
Tax Year
2025
Tax Description
PARL IN N W 1/4 AS DESC IN OR 1812 PG 1446 LESS R/W
Tax Annual Amount
6910
Legal Description
PARL IN N W 1/4 AS DESC IN OR 1812 PG 1446 LESS R/W
Utilities
Utilities
Electricity Available
Sewer type
Public Sewer
Heating system
Electric (Heating), Central
Cooling system
Central Air
Water source
Public
Building Details
Year built
1986
Flooring type
Carpet, Laminate, Tile
Building materials
Stucco
Roof type
Shingle
Listing Agency:
POWER REAL ESTATE GROUP LLC
(813) 454-8041
Listed By:
Celina Weathersby · License #3459962
(813) 454-8041
Added: Jan 25
Changed: Aug 4
Last Checked: Aug 13 at 5:06AM
MLS# TB8465379
Copyright © 2026 Stellar MLS. All rights reserved. All information provided by the listing agent/broker is deemed reliable but is not guaranteed and should be independently verified.
Investment Insights
Based on property information with market context.
This stand-alone Class B commercial office building offers four individual office suites within a single property, providing flexibility for investors and owner-users. The building totals 3,960 SF on a 0.69-acre lot and was built in 1986. Suites one and two are occupied by the current owners’ insurance business, and those tenants are expected to remain after the sale. Suite three is vacant and offers lease-up or owner-occupancy flexibility. Suite four is occupied by a long-term boating company tenant.
The property is located on San Carlos Blvd along a high-traffic commercial corridor with strong daily visibility and access. It also benefits from an oversized lot with ample on-site parking.
The building features stucco construction with a shingle roof. Interior finishes include tile, carpet, and laminate flooring. Heating is central and electric, with central air conditioning. Utilities include electricity availability, public water, and public sewer.
The property is located on San Carlos Blvd along a high-traffic commercial corridor with strong daily visibility and access. It also benefits from an oversized lot with ample on-site parking.
The building features stucco construction with a shingle roof. Interior finishes include tile, carpet, and laminate flooring. Heating is central and electric, with central air conditioning. Utilities include electricity availability, public water, and public sewer.
Key Highlights
- 4 office suites in a Class B stand‑alone office building
- 3,960 SF building on a 0.69‑acre lot
- Zoned C‑1A with a location on high‑traffic San Carlos Blvd
Financial Insights
Estimated NOI and Cap Rate
NOI = area × lease_rate × (100 − vacancy) / 100 × (1 − expense_ratio). Net Operating Income — what the owner takes home each year before mortgage payments and income tax. Effective rent (asking rent minus vacancy losses) minus operating costs (taxes, insurance, maintenance, management).
NOI / Yr
$68,052
Cap rate = NOI / list price × 100. Capitalization rate — annual return on a fully cash purchase, before financing. NOI divided by price. Higher means more income per dollar invested, but usually also more risk or older condition. 5–8% is typical for stabilized commercial property; double digits often signal distressed deals.
Cap Rate
7.16%
Suggested Prices Based on Cap Rates
Cap rates vary significantly by property type, market, and asset quality.
Typical U.S. stable-market ranges:
Multifamily — 4.5% to 6.5% (Class A in primary markets often sub-5%; Class C in secondary markets 6%+)
Industrial / Logistics — 5.0% to 7.0% (compressed heavily in recent years due to e-commerce demand)
Office — 6.5% to 9%+ (wide spread post-2020; CBD Class A vs. suburban Class B varies dramatically)
Retail — 5.5% to 8.5% (grocery-anchored on the low end, unanchored strip centers higher)
Hospitality / Hotels — 7.5% to 10%+ (higher due to operational risk)
Self-Storage — 5.5% to 7.5%
Medical Office — 6.0% to 7.5%
Net Lease (single tenant, credit) — 5.0% to 7.0% depending on tenant credit and lease term
Rules of thumb:
Primary markets (NYC, SF, LA, Boston, DC) trade at lower cap rates than secondary/tertiary markets, often by 100–200 bps (bps, aka basis points; 1 bp = 0.01%).
Class A assets trade ~50–150 bps tighter than Class B, and Class B tighter than Class C.
Cap rates move inversely with price — a lower cap rate means a higher price for the same NOI.
Spread to the 10-year Treasury is a common benchmark; historically 200–400 bps over the 10-year.
Cap Rate 5%
$1,361,040
$1.4M
Cap Rate 7%
$972,171
$972.2K
Cap Rate 9%
$756,133
$756.1K
Market Conditions
NOI Build-Up for 3,960 SF
Vacancy — income lost from leasable area expected to sit empty during the year, subtracted from gross rent.
EGI (Effective Gross Income) — gross rent minus vacancy losses, the realistic income before paying operating costs.
OpEx (Operating Expenses) — recurring costs to operate the property (property tax, insurance, utilities, maintenance, management); excludes financing and capital improvements.
NOI (Net Operating Income) — income a property generates after operating costs but before financing and taxes.
Gross rent
$98.8K $24.96/SF
− Vacancy
−$8.1K −$2.05/SF
EGI
$90.7K $22.91/SF
− OpEx
−$22.7K −$5.73/SF
NOI
$68.1K $17.18/SF
Area
Lee County, FL
Vacancy
8.20%
Lease Rate
$24.96 /SF/Yr
Expense Ratio
25.00%
Simulate Cap Rate and NOI
Suggested Prices Based on Cap Rates
Cap rates vary significantly by property type, market, and asset quality.
Typical U.S. stable-market ranges:
Multifamily — 4.5% to 6.5% (Class A in primary markets often sub-5%; Class C in secondary markets 6%+)
Industrial / Logistics — 5.0% to 7.0% (compressed heavily in recent years due to e-commerce demand)
Office — 6.5% to 9%+ (wide spread post-2020; CBD Class A vs. suburban Class B varies dramatically)
Retail — 5.5% to 8.5% (grocery-anchored on the low end, unanchored strip centers higher)
Hospitality / Hotels — 7.5% to 10%+ (higher due to operational risk)
Self-Storage — 5.5% to 7.5%
Medical Office — 6.0% to 7.5%
Net Lease (single tenant, credit) — 5.0% to 7.0% depending on tenant credit and lease term
Rules of thumb:
Primary markets (NYC, SF, LA, Boston, DC) trade at lower cap rates than secondary/tertiary markets, often by 100–200 bps (bps, aka basis points; 1 bp = 0.01%).
Class A assets trade ~50–150 bps tighter than Class B, and Class B tighter than Class C.
Cap rates move inversely with price — a lower cap rate means a higher price for the same NOI.
Spread to the 10-year Treasury is a common benchmark; historically 200–400 bps over the 10-year.
Cap Rate 5%
$1,361,040
Cap Rate 7%
$972,171
Cap Rate 9%
$756,133
Alternative Uses
Best Use
Office B
$972.2K
$850.7K – $1.13M
NOI $68,052 @ 7.0% cap · market cap 7.16%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$1.25M
$1.09M – $1.45M
NOI $87,247 @ 7.0% cap · market cap 9.18%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
4
Office units
75%
Occupancy
Multi-tenant
Tenancy
Location Intelligence
Trade Area within ½ mile
769
Businesses Nearby
Explore this area
Business Placement
Demographics for 33908, FL
43,110
Population
32,067
Households
1.3
Avg Household Size
63
Median Age
44%
College-Educated
96%
High-School Grad
34.2 sq mi
ZIP Area
1,261
Density / Sq Mi
$74,711
Median Household Income
$50,063
Median Earnings
$1,829
Median Rent
$346,200
Median Home Value
Market
Vacancy Rate% for Office in South region
Questions? Ask Rey
Realmo’s AI knows this listing — price, zoning, demand, history. Ask anything.
Frequently Asked Questions
What type of property is this?
Office units - Zoned C-1A four-suite office building on a high-traffic San Carlos Blvd corridor with public water and sewer.
Where is this office units located?
The property is located at 16048 SAN CARLOS Boulevard Fort Myers, FL.
What is the asking price?
The asking price for this property is $950,000.
What are key features of this property?
This property features: 4 office suites in a Class B stand‑alone office building; 3,960 SF building on a 0.69‑acre lot; Zoned C‑1A with a location on high‑traffic San Carlos Blvd
