Anchored Neighborhood Shopping
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4901 Palm Beach Blvd, Fort Myers, FL 33905
Shopping center is 92% occupied and anchored by Big Lots, Citi Trends, Save-A-Lot, and Dollar General.
Property Size170,811 SF
Days on Market122
Property Features for 4901 Palm Beach Blvd
General Information
Standard status
Active
Size
170,811 SF
Property subtype
Retail
Occupancy
92%
Site & Location
Highway Access
Yes
Road Access
Yes
Building Details
Tenancy
Multi
Listing Agency:
Marcus & Millichap
Listed By:
Medefind Garner Shiebler Group · License #SL3216834
Source:
Crexi
Added: Apr 10
Changed: Aug 8
Last Checked: Jul 23 at 12:36PM
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 Marcus & Millichap
Investment Insights
Based on property information with market context.
Morse Shores is a 170,811-square-foot shopping center currently 92 percent occupied and anchored by Big Lots, Citi Trends, Save-A-Lot, and Dollar General. The center is anchored by long-term tenants including Big Lots, which has been in occupancy for nearly 25 years and expanded its footprint by more than 17,000 square feet upon renewing its lease in 2015 for an additional 10 years. The shopping center also reflects stability across existing tenancy, with 66 percent of the center leased to current tenants for more than seven years.
Located on Palm Beach Boulevard, the main east-west thoroughfare connecting downtown Fort Myers to Interstate 75, Morse Shores benefits from retail and visitor demand in the surrounding area. North Trail RV is across the street and is undergoing a major expansion of its dealership and service department, expected to draw visitors and recreational vehicles from across the United States. With consistent cash flow and long lease terms, the offering notes expected financing outcomes with an above 13.9 percent cash-on-cash return year one.
Located on Palm Beach Boulevard, the main east-west thoroughfare connecting downtown Fort Myers to Interstate 75, Morse Shores benefits from retail and visitor demand in the surrounding area. North Trail RV is across the street and is undergoing a major expansion of its dealership and service department, expected to draw visitors and recreational vehicles from across the United States. With consistent cash flow and long lease terms, the offering notes expected financing outcomes with an above 13.9 percent cash-on-cash return year one.
Key Highlights
- 170,811 SF shopping center in Fort Myers, FL, anchored by Big Lots, Citi Trends, Save‑A‑Lot, and Dollar General.
- Property is 92% occupied and includes long‑term tenant occupancy history, with 66% of the center leased to existing tenants for more than 7 years.
- Big Lots has been in occupancy for almost 25 years and expanded by more than 17,000 SF after renewing its lease in 2015 for an additional 10 years.
Property Analytics
Current Use
Lease Details
92%
Occupancy
Multi-tenant
Tenancy
Yes
Highway access
Yes
Paved road access
Location Intelligence
Trade Area within ½ mile
337
Businesses Nearby
103k
Monthly Visits Nearby
Under-served
Demand for This Use
Explore this area
Business Placement
Foot Traffic Nearby
Shops & Services 36%
Dining 33%
Superstores 13%
Groceries 8%
Big Lots
Superstores
13,455 visits/mo
0.1 miles
Taco Bell
Dining
12,638 visits/mo
0.2 miles
Hardee's
Dining
12,463 visits/mo
0.1 miles
Mobil
Shops & Services
11,882 visits/mo
0.1 miles
Save-A-Lot
Groceries
8,211 visits/mo
0.1 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
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Similar Off Market Nearby
- Morse Shores Shopping Center — 4901 Palm Beach Blvd, Fort Myers, FL 33905
Frequently Asked Questions
What type of property is this?
Shopping center - Shopping center is 92% occupied and anchored by Big Lots, Citi Trends, Save-A-Lot, and Dollar General.
Where is this shopping center located?
The property is located at 4901 Palm Beach Blvd Fort Myers, FL.
What are key features of this property?
This property features: 170,811 SF shopping center in Fort Myers, FL, anchored by Big Lots, Citi Trends, Save‑A‑Lot, and Dollar General.; Property is 92% occupied and includes long‑term tenant occupancy history, with 66% of the center leased to existing tenants for more than 7 years.; Big Lots has been in occupancy for almost 25 years and expanded by more than 17,000 SF after renewing its lease in 2015 for an additional 10 years.
