Retail Plaza in Fort Myers

13468 Palm Beach Boulevard, Fort Myers, FL 33905

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For Sale

$699,000

High-visibility retail plaza with diverse tenant mix and potential occupancy.

Type:Commercial/Industrial

Property size:

2,790 SF

Lot size:

0.27 Acres

Price / SF:

$250/SF

HighLights

High visibility retail plaza with 100' road frontage on Palm Beach Blvd in a busy, rapidly growing area.
All three units are leased, but the middle unit (approx. 700 SF) could be available for occupancy by a buyer.
Recently renovated including roof, electrical, plumbing, and parking lot.
C‑1 zoning allows for a variety of retail, restaurant, medical, and professional office uses.
Seller financing is an option.
Long operating history with established tenants (art store, eye doctor, and sign shop).

We can help!

Listing Contact

Stephanie Sposato

For Sale

$699,000

High-visibility retail plaza with diverse tenant mix and potential occupancy.

Type:Commercial/Industrial

Property size:

2,790 SF

Lot size:

0.27 Acres

Price / SF:

$250/SF

Added:: May 28, 2024
Days on Market:: 747
Last Refresh:: May 19 at 10:09 pm

Property Features for 13468 Palm Beach Boulevard

General Information

Standard status: Active
Size: 2,790 SF
Lot size: 0.27 Acres
Property subtype: Commercial/Industrial

Building Details

Year Built: 1958

We can help!

Listing Contact

Stephanie Sposato

Listing agent Stephanie Sposato License #3304079

Listing office WEATHERFORD REALTY GROUP LLC

Listing date May 28, 2024

Source Exitrealty

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 WEATHERFORD REALTY GROUP LLC

HighLights

High visibility retail plaza with 100' road frontage on Palm Beach Blvd in a busy, rapidly growing area.
All three units are leased, but the middle unit (approx. 700 SF) could be available for occupancy by a buyer.
Recently renovated including roof, electrical, plumbing, and parking lot.
C‑1 zoning allows for a variety of retail, restaurant, medical, and professional office uses.
Seller financing is an option.
Long operating history with established tenants (art store, eye doctor, and sign shop).

Overview

This retail plaza is located in the Fort Myers Shores/Riverdale area. The property has 100 feet of road frontage on Palm Beach Boulevard. The building consists of 2,790 square feet divided into 3 units, with 11 parking spaces available. The property is zoned C-1, allowing for a variety of retail, restaurant, medical, and professional offices, as well as food stores and laundromats. The plaza has a history of long-term tenants, including an art store, eye doctor, and sign shop. All units were recently renovated, including the roof, electrical, plumbing, and parking lot. The property is located in a rapidly growing area with high visibility and traffic counts. All three units are currently leased, but the middle unit, approximately 700 square feet, could be available for occupancy by a buyer.

Local Financial Insights For Office B

Simulate Cap Rate and NOI

NOI Build-Up

Component	$	$/SF
Gross rent	$69.6k	$24.96
− Vacancy	−$5.7k	−$2.05
EGI	$63.9k	$22.91
− OpEx	−$16.0k	−$5.73
NOI	$47.9k	$17.18

2,790 SF · lease $24.96/SF/yr · vacancy 8.20% · expense 25.00%

Alternative Uses

Best Use

Office B

$684.9K

$599.3K – $799.1K (±1% cap)

NOI $47,946 @ 7.0% cap · market cap 6.86%

Second Best

Specialty Retail

$632.8K

$553.7K – $738.2K (±1% cap)

NOI $44,294 @ 7.0% cap · market cap 6.34%

Theoretical Best

Office A

$878.1K

$768.4K – $1.02M (±1% cap)

NOI $61,469 @ 7.0% cap · market cap 8.79%

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

Property Profile Location Intelligence

Current Use by Public Records

Go Mobile Signs (Bike/Boat/Book/etc) Store Optical Options (Bike/Boat/Book/etc) Store Rustic Art World (Bike/Boat/Book/etc) Store

Suggested Use

Similar Places Nearby

Riverdale Shopping Center — 14561 Palm Beach Blvd, Fort Myers, FL 33905

Location Insight

Map
Local Demand

City: Fort Myers
County: Lee
State: Florida
Longitude: -81.7337
Latitude: 26.7076

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For sale
Shopping centers
FL
Fort Myers
33905
13468 Palm Beach Boulevard

What type of property is this?

Shopping center - High-visibility retail plaza with diverse tenant mix and potential occupancy.

Where is this shopping center located?

The property is located at 13468 Palm Beach Boulevard Fort Myers, FL.

What is the asking price?

The asking price for this property is $699,000.

What are key features of this property?

This property features: High visibility retail plaza with **100' road frontage on Palm Beach Blvd** in a busy, rapidly growing area.; All three units are leased, but the middle unit (approx. 700 SF) could be available for occupancy by a buyer.; **Recently renovated** including roof, electrical, plumbing, and parking lot.