Storefront Property with Bay
For Sale
$1,995,000
12538 Palm Beach Blvd, Fort Myers, FL 33905
Commercial Sale, FORT MYERS, FL
Property Size6,000 SF
Lot Size0.35 Acres
Price / SF$332.50
Days on Market118
Property Features for 12538 Palm Beach Blvd
General Information
Property type
Commercial Sale
Property subtype
Other
Zoning
C-1
Subdivision
FE07 - East Fort Myers Area
Standard status
Active
APN
30-43-26-01-00008.0370
Lot size
0.35 Acres
Taxes and HOA fees
Tax Year
2025
Tax Description
FT MYERS SHORES UNIT 1 BLK 8 PB 9 PG 151 LOTS 37 THRU 41
Tax Annual Amount
7584
Legal Description
FT MYERS SHORES UNIT 1 BLK 8 PB 9 PG 151 LOTS 37 THRU 41
Building Details
Year built
1978
Floors in Building
1
Listing Agency:
Downing-Frye Realty Inc
(239) 992-8711
Listed By:
Richard L MacLellan
(508) 221-0777
Added: Apr 29
Changed: Aug 22
Last Checked: Aug 24 at 2:06AM
MLS# 226020322
Copyright © 2026 Coconut Coast Organization 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 C-1-zoned storefront property includes approximately 6,000 square feet in a building originally constructed in 1978. The structure was recently painted and has a roof dated 2026. Two 10-foot bay doors and two additional rear ground-level doors support loading and service access. A grandfathered sign and full-front hurricane shutter coverage are also in place.
The property is located at 12538 Palm Beach Blvd in Fort Myers, Florida, along Route 80 with 175 feet of frontage and a 120-foot lot depth. On-site parking includes 12 spaces, with additional parking available on the vacant lot and behind the building. The building may be vacated within a negotiable 30- to 60-day period following execution of a purchase and sale agreement.
The property is located at 12538 Palm Beach Blvd in Fort Myers, Florida, along Route 80 with 175 feet of frontage and a 120-foot lot depth. On-site parking includes 12 spaces, with additional parking available on the vacant lot and behind the building. The building may be vacated within a negotiable 30- to 60-day period following execution of a purchase and sale agreement.
Key Highlights
- Approximately 6,000 square feet on a C‑1‑zoned commercial site
- Two 10‑foot bay doors plus two rear ground‑level doors
- 175 feet of frontage on Route 80; lot depth measures 120 feet
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
—
—
no second resolved use
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
Property Profile
Current Use
Location Intelligence
Trade Area within ½ mile
274
Businesses Nearby
13k
Monthly Visits Nearby
Under-served
Demand for This Use
Explore this area
Business Placement
Foot Traffic Nearby
Shops & Services 86%
Dining 14%
Mobil
Shops & Services
7,810 visits/mo
0.1 miles
7-Eleven
Shops & Services
3,327 visits/mo
0.1 miles
Domino's Pizza
Dining
1,746 visits/mo
0.4 miles
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 Retail in South region
Questions? Ask Rey
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Similar Off Market Nearby
- April Flowers LLC — 13005 Palm Beach Blvd, Fort Myers, FL 33905
Frequently Asked Questions
What type of property is this?
Storefront property - C-1-zoned commercial building with flexible access, front hurricane shutters, and supplemental parking areas.
Where is this storefront property located?
The property is located at 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: Approximately 6,000 square feet on a C‑1‑zoned commercial site; Two 10‑foot bay doors plus two rear ground‑level doors; 175 feet of frontage on Route 80; lot depth measures 120 feet
