Four-Suite Stand-Alone Office
For Sale
$950,000
16048 SAN CARLOS Boulevard, Fort Myers, FL 33908
Commercial Sale, FORT MYERS, FL
Property Size3,960 SF
Lot Size0.69 Acres
Price / SF$239.90
Days on Market211
Property Features for 16048 SAN CARLOS Boulevard
General Information
Property type
Commercial Sale
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
Laminate, Tile, Carpet
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 20
Last Checked: Aug 24 at 6:06AM
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 office building contains 3,960 square feet on a 0.69-acre lot and is configured as four individual suites. Two suites are occupied by the current owners’ insurance business and are expected to remain after closing. A third suite is vacant, while the fourth is leased to a boating company. The building was constructed in 1986 and features stucco exterior construction, laminate, tile, and carpet flooring, central air conditioning, and electric central heating.
The property is located at 16048 San Carlos Boulevard in Fort Myers, along a commercial corridor described as having high daily traffic and strong street exposure. On-site parking is provided. C-1A zoning supports professional and commercial uses, while public water, public sewer, and available electricity serve the property.
The property is located at 16048 San Carlos Boulevard in Fort Myers, along a commercial corridor described as having high daily traffic and strong street exposure. On-site parking is provided. C-1A zoning supports professional and commercial uses, while public water, public sewer, and available electricity serve the property.
Key Highlights
- 3,960‑square‑foot stand‑alone office building on 0.69 acres
- Four individual office suites with one currently vacant
- Two suites occupied by the owners’ insurance business, which will remain after sale
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
767
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 building - C-1A-zoned office property with multiple suites, on-site parking, and public water and sewer service.
Where is this office building 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: 3,960‑square‑foot stand‑alone office building on 0.69 acres; Four individual office suites with one currently vacant; Two suites occupied by the owners’ insurance business, which will remain after sale
