Flex Space with Two Bay
For Sale
$1,995,000
1-12538 Palm Beach Blvd, Fort Myers, FL 33905
Flexible commercial space offers multiple access points, front storm protection, and on-site parking with additional parking areas.
Property Size6,000 SF
Lot Size0.48 Acres
Price / SF$332.50
Days on Market87
Property Features for 1-12538 Palm Beach Blvd
General Information
Standard status
Active
Size
6,000 SF
Total Parking Spaces
12
Lot size
0.48 Acres
Additional Details
Asking Price
$2,200,000
Road Access
Yes
Drive-In Doors
2
Taxes and HOA fees
Annual Taxes
$7,584
Building Details
Year Renovated
2024
Listing Agency:
Downing-Frye Realty Inc
(508) 221-0777
Listed By:
Richard L MacLellan
(508) 221-0777
Source:
Exprealty
Added: May 21
Changed: Aug 15
Last Checked: Aug 15 at 3:27AM
Displayed information is deemed reliable but is not guaranteed and should be independently verified. All listing content including descriptions, pricing, images are the copyrighted material of Downing-Frye Realty Inc
Investment Insights
Based on property information with market context.
This Fort Myers flex space comprises a 6,000-square-foot commercial building at 12538 and 12546 Palm Beach Blvd. The property includes two 10-foot bay doors, two rear ground-level doors, 12 parking spaces, and hurricane shutter coverage across the entire front of the building. The building has been recently painted, and the existing sign is grandfathered.
The parcel fronts Rt 80 for 175 feet and extends 120 feet in depth. Additional parking is available on the vacant lot and behind the building. The offering includes an extra lot, bringing the total acreage to .48 acres. The building can be vacated at closing under a signed purchase and sale agreement, with a negotiable 30–60-day timeline.
The parcel fronts Rt 80 for 175 feet and extends 120 feet in depth. Additional parking is available on the vacant lot and behind the building. The offering includes an extra lot, bringing the total acreage to .48 acres. The building can be vacated at closing under a signed purchase and sale agreement, with a negotiable 30–60-day timeline.
Key Highlights
- 6,000 sq ft commercial flex building at 12538 and 12546 Palm Beach Blvd
- 175 feet of frontage on Rt 80 with 120’ lot depth
- Two 10’ bay doors plus two rear ground‑level doors
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
$78,710
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
3.95%
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%
$1,574,200
$1.6M
Cap Rate 7%
$1,124,429
$1.1M
Cap Rate 9%
$874,556
$874.6K
Market Conditions
NOI Build-Up for 6,000 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
$115.9K $19.32/SF
− Vacancy
−$3.5K −$0.58/SF
EGI
$112.4K $18.74/SF
− OpEx
−$33.7K −$5.62/SF
NOI
$78.7K $13.12/SF
Area
Lee County, FL
Vacancy
3.00%
Lease Rate
$19.32 /SF/Yr
Expense Ratio
30.00%
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%
$1,574,200
Cap Rate 7%
$1,124,429
Cap Rate 9%
$874,556
Alternative Uses
Best Use
Retail
$1.12M
$983.9K – $1.31M
NOI $78,710 @ 7.0% cap · market cap 3.95%
Second Best
Flex RnD
$937.7K
$820.5K – $1.09M
NOI $65,637 @ 7.0% cap · market cap 3.29%
Theoretical Best
Office A
$1.89M
$1.65M – $2.20M
NOI $132,192 @ 7.0% cap · market cap 6.63%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Current Use
Lease Details
2
Drive-in doors
Yes
Paved road access
Location Intelligence
Trade Area within ½ mile
466
Businesses Nearby
Under-served
Demand for This Use
Explore this area
Business Placement
Demographics for 33905, FL
37,692
Population
17,337
Households
2.2
Avg Household Size
41
Median Age
22%
College-Educated
79%
High-School Grad
40.2 sq mi
ZIP Area
938
Density / Sq Mi
$70,009
Median Household Income
$36,923
Median Earnings
$1,509
Median Rent
$260,400
Median Home Value
Market
Vacancy Rate% for Industrial in South region
Questions? Ask Rey
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Frequently Asked Questions
What type of property is this?
Flex space - Flexible commercial space offers multiple access points, front storm protection, and on-site parking with additional parking areas.
Where is this flex space located?
The property is located at 1-12538 Palm Beach Blvd Fort Myers, FL.
What is the asking price?
The asking price for this property is $1,995,000.
What are key features of this property?
This property features: 6,000 sq ft commercial flex building at 12538 and 12546 Palm Beach Blvd; 175 feet of frontage on Rt 80 with 120’ lot depth; Two 10’ bay doors plus two rear ground‑level doors
