Building Details

Year built 1999

Floors in Building 2

Listing Agency: Platinum Real Estate Show Phone

Listed By: Mark Zervos · License #2014001304 Show Phone

Added: Sep 24 Last Checked: Sep 25 at 10:06PM

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MLS# 226034065

Copyright © 2026 Naples Area Board of REALTORS. 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 riverfront hospitality property spans approximately one acre and includes two buildings with furnished guest accommodations. Renovations were completed in 2025. On-site features include a pool and five boat slips, with direct boating access. The property is zoned RM-2.

The site has 155 feet of waterfront. Matlacha is near Pine Island and the greater Fort Myers area, and the property is near the Great Calusa Blueway, waterfront dining, galleries, shops, fishing, boating, and paddling destinations.

Key Highlights

• Two buildings with furnished guest accommodations
• 155 feet of waterfront
• Five boat slips and direct boating access

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

$152,101

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

4.68%

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%

$3,042,020 $3.0M

Cap Rate 7%

$2,172,871 $2.2M

Cap Rate 9%

$1,690,011 $1.7M

Market Conditions

NOI Build-Up for 12,400 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

$288.7K $23.28/SF

− Vacancy

−$12.1K −$0.98/SF

EGI

$276.5K $22.30/SF

− OpEx

−$124.4K −$10.04/SF

NOI

$152.1K $12.27/SF

Area

Lee County, FL

Vacancy

4.20%

Lease Rate

$23.28 /SF/Yr

Expense Ratio

45.00%

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%

$3,042,020

Cap Rate 7%

$2,172,871

Cap Rate 9%

$1,690,011

Alternative Uses

Best Use

Apartment 5plus

$2.17M

$1.90M – $2.54M (±1% cap)

NOI $152,101 @ 7.0% cap · market cap 4.68%

Second Best

Hotel Hospitality

$1.03M

$905.6K – $1.21M (±1% cap)

NOI $72,447 @ 7.0% cap · market cap 2.23%

Theoretical Best

Office A

$3.90M

$3.41M – $4.55M (±1% cap)

NOI $273,197 @ 7.0% cap · market cap 8.41%

Zoning and permitted uses should be independently verified with authorities.

Property Analytics

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Current Use

Hotels

Suggested Use

Top Pick Building Supply Big Box & Wholesale Store Hair Salon Law Firm Spa & Massage Center Nail Salon

Score = modeled unmet demand for each use within ~1 mi (higher = bigger opportunity). Zoning and permitted uses should be independently verified with local authorities.

Lease Details

12

Residential units

Location Intelligence

Trade Area within ½ mile

129

Businesses Nearby

Explore this area Business Placement

Demographics for 33993, FL

29,848

Population

13,098

Households

2.3

Avg Household Size

41

Median Age

22%

College-Educated

92%

High-School Grad

43.7 sq mi

ZIP Area

683

Density / Sq Mi

$89,220

Median Household Income

$41,871

Median Earnings

$2,057

Median Rent

$319,500

Median Home Value

Market

Vacancy Rate% for Multifamily in South region

8.5% 2022

10.2% 2023

11.4% 2024

11.3% 2025

Questions? Ask Rey

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What type of property is this? Where is this hotels located? What is the asking price? Find similar properties What are key features of this property?

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Frequently Asked Questions

What type of property is this?

Hotel - Two buildings provide furnished guest accommodations, with a pool and boat slips on a riverfront site.

Where is this hotel located?

The property is located at 12200/12210 Shoreview Dr Matlacha, FL.

What is the asking price?

The asking price for this property is $3,250,000.

What are key features of this property?

This property features: Two buildings with furnished guest accommodations; 155 feet of waterfront; Five boat slips and direct boating access