Storefront Building with Bay
For Sale
$2,200,000
12538 Palm Beach Blvd Unit 1, Fort Myers, FL 33905
Commercial building with protected front glazing, rear access, and on-site parking supplemented by adjacent paved areas.
Property Size6,000 SF
Lot Size0.48 Acres
Price / SF$366.67
Days on Market165
Property Features for 12538 Palm Beach Blvd Unit 1
General Information
Standard status
Active
Size
6,000 SF
Lot size
0.48 Acres
Property subtype
Commercial
Additional Details
Asking Price
$2,200,000
Building Details
Year Built
1978
Listing Agency:
Downing-Frye Realty Inc
(508) 221-0777
Listed By:
Richard L MacLellan
Source:
Naplesareapropertysearch
Added: Mar 18
Changed: Aug 28
Last Checked: Aug 28 at 12:23PM
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 6,000-square-foot storefront building was constructed in 1978 and has been recently painted, with a new roof dated 2024. The front of the building is fully covered by hurricane shutters. Service access includes two 10-foot bay doors and two rear ground-level doors. The existing sign is grandfathered, providing an established identification feature for the property.
The site includes 175 feet of frontage along Rt 80 and extends 120 feet in depth. Twelve parking spaces are located on the property, with additional parking available on the vacant lot and behind the building. An extra lot brings the combined land area to .48 acres. The property is located at 12538 Palm Beach Blvd Unit 1, Fort Myers, FL 33905.
The site includes 175 feet of frontage along Rt 80 and extends 120 feet in depth. Twelve parking spaces are located on the property, with additional parking available on the vacant lot and behind the building. An extra lot brings the combined land area to .48 acres. The property is located at 12538 Palm Beach Blvd Unit 1, Fort Myers, FL 33905.
Key Highlights
- 6,000‑square‑foot storefront building constructed in 1978
- New roof dated 2024 and recently painted building
- 175 feet of frontage on Rt 80 with 120‑foot lot depth
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
3.58%
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 3.58%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$1.89M
$1.65M – $2.20M
NOI $132,192 @ 7.0% cap · market cap 6.01%
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 - Commercial building with protected front glazing, rear access, and on-site parking supplemented by adjacent paved areas.
Where is this storefront property located?
The property is located at 12538 Palm Beach Blvd Unit 1 Fort Myers, FL.
What is the asking price?
The asking price for this property is $2,200,000.
What are key features of this property?
This property features: 6,000‑square‑foot storefront building constructed in 1978; New roof dated 2024 and recently painted building; 175 feet of frontage on Rt 80 with 120‑foot lot depth
