Add Listing
    For Sale
    • For Sale
    • For Lease
    • Recently Sold
    • Property Lookup
    • Brokers
    AI Search
    Back to Search
    The Largest CRE Database in the US with Over 1 Million Listings

    440 Old San Carlos Blvd Fort Myers Beach, FL 33931

    View on Map
    Loading data...
    Loading data...
    Loading data...
    For Sale
    $3,900,000

    Mixed-Use redevelopment opportunity in the heart of Fort Myers Beach.

    Lot size:
    0.42 Acres

    Property Features for 440 Old San Carlos Blvd

    General Information

    Property type
    Commercial
    Standard status
    Active
    Lot size
    0.42 Acres

    Building Details

    Year built
    1952

    We can help!

    Listing Contact
    Justin Thibaut
    Justin Thibaut
    Source: Elliman

    Listing Agency: Land Solutions Inc Listing Agent: Justin Thibaut

    Displayed information is deemed reliable but is not guaranteed and should be independently verified.

    Learn more

    Overview

    Fort Myers Beach Redevelopment Opportunity

    This mixed-use redevelopment opportunity, known as Old San Carlos Commercial, is located in the core of Fort Myers Beach. The property consists of approximately 0.42 acres across three parcels, strategically positioned at a hard corner within the Downtown District, a pedestrian-focused area designed to encourage public engagement. Its location provides walkability to attractions such as Times Square, Fort Myers Beach Pier, and Margaritaville, with direct visibility from the primary bridge, Matanzas Bridge, which sees an average annual daily traffic of over 23,000 vehicles. Previously part of the Mantanza Seafood and Inn CPD, the site was approved for up to 40 resort units and approximately 5,000 square feet of commercial or retail space. This property presents an opportunity for a developer to participate in the redevelopment of Fort Myers Beach.
    Location Intelligence

    Current Use by Public Records

    the cigar hut (Bike/Boat/Book/etc) Store Cigar Hut (Bike/Boat/Book/etc) Store

    Suggested Use

    Law Firm Real Estate Agency Restaurant Spa & Massage Center Nail Salon Building Supply Auto Repair Shop Gym & Fitness Center Big Box & Wholesale Store Skin Care Clinic

    Zoning and permitted uses should be independently verified with local authorities.

    Location Insight

    • Map
    • Local Demand
    City
    Fort Myers Beach
    County
    Lee
    State
    Florida
    Longitude
    -81.9547249
    Latitude
    26.4556544

    Nearby Similar for Sale

    • $1,582,000
      7,000 SF

      Prime Commercial Land Near Beach

      1.16-acre commercial property near Fort Myers Beach bridge.
      870 Buttonwood Dr, Fort Myers Beach, FL 33931
      View Details
    • $1,399,000
      0.13 Acres

      Waterfront Lot in Santos District

      Waterfront lot near beach with multiple development options.
      1339 Santos Rd, Fort Myers Beach, FL 33931
      View Details
    • $3,900,000
      0.42 Acres

      Mixed-Use Redevelopment Opportunity, Fort Myers

      Mixed-use redevelopment opportunity in the heart of Fort Myers Beach.
      440 Old San Carlos Blvd, Fort Myers Beach, FL 33931
      View Details
    • New
      $874,900
      0.41 Acres

      Fort Myers Beach Multi-Family Opportunity

      Multi-family property with direct beach access and development potential.
      226 Connecticut St, Fort Myers Beach, FL 33931
      View Details
    • New
      $405,000
      0.22 Acres

      Fort Myers Beach Duplex

      Duplex near the beach, centrally located for shopping and dining.
      17209/17211 Whitewater Ct, Fort Myers Beach, FL 33931
      View Details
    • $45,900

      Renovated Dock on Fort Myers Beach

      Updated dock with lift, close to Gulf and Estero Bay.
      4351 Bay Beach Ln, Fort Myers Beach, FL 33931
      View Details
    • New
      $160,000

      Deep Water Boat Slip

      60' deep water boat slip with direct Gulf access.
      4199 Bay Beach #A1 Ln, Fort Myers Beach, FL 33931
      View Details
    • New
      $749,000
      0.18 Acres

      Duplex Ready for Rebuild

      Duplex in Fort Myers Beach, approved for elevation grant.
      175 Tropical Shore Way, Fort Myers Beach, FL 33931
      View Details
    • $189,900
      0.09 Acres

      Canal-Front Lot in Boating Community

      Wide canal-front lot in 55+ boating community near beaches.
      11600 Dogwood Ln, Fort Myers Beach, FL 33931
      View Details
    • $175,000
      0.09 Acres

      Canal-Front Lot in Bayside Estates

      Cleared lot with dock and boat lift near beaches.
      17851 Peppard Dr, Fort Myers Beach, FL 33931
      View Details
    • $179,000

      Deep-Water Boat Slip with Lift

      55' boat slip with 24,000 lb lift in Waterside.
      4187 Bay Beach #B28 Ln, Fort Myers Beach, FL 33931
      View Details
    • $64,900

      Fort Myers Beach Dock for Sale

      Dock in Casa Marina Yacht Club, quick Gulf access.
      4341 Bay Beach Ln, Fort Myers Beach, FL 33931
      View Details

    FAQs

    What type of property is this?
    Mixed-use property - Mixed-Use redevelopment opportunity in the heart of Fort Myers Beach.
    Where is this mixed-use property located?
    The property is located at 440 Old San Carlos Blvd Fort Myers Beach, FL.
    What is the asking price?
    The asking price for this property is $3,900,000.
    What are key features of this property?
    This property features: - Mixed-Use redevelopment opportunity in the core of Fort Myers Beach.; - Located at a hard corner in the vibrant Downtown District.; - Exceptional walkability to Times Square, Fort Myers Beach Pier, and Margaritaville.
    (239) 565-3456
    Request Owner's contact information
    440 Old San Carlos Blvd Fort Myers Beach, FL 33931
    Message sent successfully
    Error
    If you are the owner or broker of this property and would like to edit or remove this listing please send a message to web site administrator.
    440 Old San Carlos Blvd
    Fort Myers Beach, FL 33931
    Message sent successfully
    Error
    Email to Your Friends
    Link copied to clipboard
    Separate multiple addresses with a comma
    Message sent successfully
    Error

    Realmo Value Estimations

    Realmo estimates a property’s market value using a proprietary methodology that incorporates public data and user-submitted information. This cumulative value is generated by integrating a variety of conventional and innovative methods. 

    Disclaimer

    These figures are not official appraisals and should not be used as a substitute for a valuation performed by a licensed appraiser.
    Actual market value may differ due to factors not captured in the data. Estimates are offered for informational purposes only, and users should conduct independent research before making financial or investment decisions.
    By using this feature, you acknowledge that Realmo is not responsible for actions taken based on these estimates.

    AI approach

    Realmo AI Method estimates property value using machine learning models trained on millions of comparable listings, transactions, and market signals. It analyzes property features, location intelligence data, and current market dynamics to predict the most probable market value in real time.

    Realmo CapRate Calculation

    Realmo calculates the Capitalization Rate (Cap Rate) to help estimate a property's potential return on investment. The Cap Rate is a fundamental metric in commercial real estate that measures the relationship between a property's net operating income and its market value.

    How We Calculate Cap Rate

    Cap Rate Formula:
    Cap Rate (%) = (Net Operating Income / Property Value) × 100

    Net Operating Income (NOI) Formula:
    NOI = Area × Lease Rate × (1 - Vacancy Rate) × (1 - Operating Expense Ratio)

    Components

    Net Operating Income (NOI) represents the annual income a property generates after operating expenses:

    • Area: Building square footage from property records
    • Lease Rate: Annual $/sqft based on market data for the property type and geographic location
    • Vacancy Rate: Percentage of unoccupied space based on market data for the property type and location
    • Operating Expense Ratio: Operating costs as a percentage of income, varies by property type

    Property Value is derived from:

    • Recent sale price (if available)
    • Statistical models using comparable sales
    • AI-powered valuation estimates

    Example Calculation

    For a 100,000 sqft Office Building:

    • Lease Rate: $25.00/sqft/year (market data for Office in this area)
    • Vacancy Rate: 8% (market data for Office in this area)
    • Operating Expense Ratio: 35% (typical for Office properties)
    • Property Value: $15,000,000

    Step 1: Calculate NOI

    NOI = 100,000 × $25.00 × (1 - 0.08) × (1 - 0.35)
    NOI = 100,000 × $25.00 × 0.92 × 0.65
    NOI = $1,495,000/year

    Step 2: Calculate Cap Rate

    Cap Rate = ($1,495,000 / $15,000,000) × 100
    Cap Rate = 9.97%

    Property Type Considerations

    Net Operating Income calculations vary by property type due to different operating expense ratios:

    • Office: Higher expenses (30-40%) for HVAC, utilities, maintenance
    • Retail: Moderate expenses (25-35%) for common area maintenance
    • Industrial/Warehouse: Lower expenses (15-25%) for minimal tenant services
    • Multifamily: Moderate expenses (35-45%) including property management
    • Self-Storage: Lower expenses (25-35%) due to minimal maintenance

    Market lease rates and vacancy rates are specific to each property type and geographic location, reflecting local market conditions.

    Disclaimer

    These calculations are estimates for informational purposes only and should not be used as a substitute for professional financial analysis or appraisal.

    • Cap Rate calculations depend on market data that may change over time
    • Actual operating expenses, lease rates, and vacancy rates may differ from market averages
    • Individual property conditions, lease terms, and tenant quality significantly impact actual NOI
    • Property value estimates are approximations and not official appraisals
    • Cap rates vary widely by market, property condition, and investment risk profile

    Professional Guidance Recommended: Before making any investment or financial decisions, consult with licensed appraisers, commercial real estate brokers, and financial advisors who can evaluate your specific property and circumstances.
    By using this feature, you acknowledge that Realmo is not responsible for investment decisions or actions taken based on these estimates.

    Cap approach

    Capitalization Method calculates value based on estimated net operating income (NOI) and applying a market-based capitalization rate (cap rate), we estimate what a typical investor might be willing to pay for it.

    Comparable approach

    Comparable estimate is based on recent sales of similar nearby properties, adjusted for factors like size, condition, and location.

    Relative

    Relative property class coefficient uses factors that account for typical price differences between various asset types (e.g., retail vs. industrial) to provide a more accurate market-aligned estimate.

    Geo

    Comparable Sales Method, enhanced by Geo coefficients — location-based adjustment factors that reflect differences in price levels across neighborhoods, cities, or regions ensuring a more accurate, market-sensitive valuation.

    Stat Estimate

    This method estimates value based on actual market adjusted recent (~5 years) sales of comparable properties around by location and property type.

    • Ranges - area data calculated by industry standard IQR Outlier Removal Method
    • Range-from: 75% of all similar sales ($/sqft) are above this value
    • Range-to: 75% of all similar sales ($/sqft) are below this value
    AI Estimate

    This method estimates value based on AI market estimation of comparable properties around by location and property type.

    • Ranges - area data calculated by industry standard IQR Outlier Removal Method
    • Range-from: 75% of all estimations ($/sqft) are above this value
    • Range-to: 75% of all estimations ($/sqft) are below this value
    Alternative use

    Estimate considers the property’s potential value if used for a different purpose-based on zoning, demand, and market feasibility.

    More about this property
    440 Old San Carlos Blvd Fort Myers Beach, FL 33931
    Thanks! Your message was sent.
    Error! Your message wasn't sent.
    Please enter your name
    Please enter email
    Please enter the email in the correct format
    Please enter phone
    Please enter the number in the correct format
    Please enter message
    Thank You

    You are Unsubscribed From Notifications

    We can help!
    Listing Contact
    Justin Thibaut
    Justin Thibaut
    Real Estate License ID: 258024058
    (239) 565-3456 (239) 489-4066
    Learn more
    Google sign-in failed. Please try again or use another login method.
    Sign Up Successful!
    You now have access to more from Realmo!