Multi-Tenant Storefront
New
For Sale
$1,285,000
13102 Palm Beach Blvd, Fort Myers, FL 33905
Established commercial occupancy, updated interiors, and prominent Palm Beach Boulevard exposure support a practical retail and office configuration.
Property Size4,500 SF
Price / SF$285.56
Days on Market2
Property Features for 13102 Palm Beach Blvd
General Information
Standard status
Active
Size
4,500 SF
Property subtype
Commercial
Occupancy
100%
Site & Location
Traffic Count
35,000 vehicles/day
Highway Access
Yes
Road Access
Yes
Taxes and HOA fees
Annual Taxes
$7,759
Building Details
Year Built
1988
Buildings
1
Stories
1
Tenancy
Multi
Listing Agency:
RE/MAX GULF COAST LIVING
(239) 229-6333
Listed By:
Lawrence Ronco · License #258000641
(239) 229-6333
Source:
Elliman
Added: Aug 11
Changed: Aug 12
Last Checked: Aug 12 at 3:07AM
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 RE/MAX GULF COAST LIVING
Investment Insights
Based on property information with market context.
This 4,500-square-foot storefront property was built in 1988 and is fully occupied by five tenants. The existing tenant mix includes State Farm, a nail salon, a realty office, a salon spa, and a legal firm. A new roof and updated interiors add to the building’s current physical improvements.
The property fronts Palm Beach Boulevard, also identified as SR 80, with direct highway frontage and reported traffic of roughly 35,000+ vehicles per day. It is positioned in the East Fort Myers corridor near Verandah and Riverhall, with access from a major arterial road. The combination of multiple occupied suites, varied commercial uses, and established frontage provides a defined operating profile for the property.
The property fronts Palm Beach Boulevard, also identified as SR 80, with direct highway frontage and reported traffic of roughly 35,000+ vehicles per day. It is positioned in the East Fort Myers corridor near Verandah and Riverhall, with access from a major arterial road. The combination of multiple occupied suites, varied commercial uses, and established frontage provides a defined operating profile for the property.
Key Highlights
- 4,500 SF storefront building built in 1988
- 100% occupied by five established tenants
- Tenant mix includes State Farm, nail salon, realty office, salon spa, and legal firm
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
$77,332
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
6.02%
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%
$1,546,640
$1.5M
Cap Rate 7%
$1,104,743
$1.1M
Cap Rate 9%
$859,244
$859.2K
Market Conditions
NOI Build-Up for 4,500 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
$112.3K $24.96/SF
− Vacancy
−$9.2K −$2.05/SF
EGI
$103.1K $22.91/SF
− OpEx
−$25.8K −$5.73/SF
NOI
$77.3K $17.18/SF
Area
Lee County, FL
Vacancy
8.20%
Lease Rate
$24.96 /SF/Yr
Expense Ratio
25.00%
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%
$1,546,640
Cap Rate 7%
$1,104,743
Cap Rate 9%
$859,244
Alternative Uses
Best Use
Office B
$1.10M
$966.7K – $1.29M
NOI $77,332 @ 7.0% cap · market cap 6.02%
Second Best
Retail
$843.3K
$737.9K – $983.9K
NOI $59,032 @ 7.0% cap · market cap 4.59%
Theoretical Best
Office A
$1.42M
$1.24M – $1.65M
NOI $99,144 @ 7.0% cap · market cap 7.72%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
35,000 VPD
Traffic count
100%
Occupancy
Multi-tenant
Tenancy
Yes
Highway access
Yes
Paved road access
Location Intelligence
Trade Area within ½ mile
515
Businesses Nearby
Under-served
Demand for This Use
Explore this area
Business Placement
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 Office in South region
Questions? Ask Rey
Realmo’s AI knows this listing — price, zoning, demand, history. Ask anything.
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 - Established commercial occupancy, updated interiors, and prominent Palm Beach Boulevard exposure support a practical retail and office configuration.
Where is this storefront property located?
The property is located at 13102 Palm Beach Blvd Fort Myers, FL.
What is the asking price?
The asking price for this property is $1,285,000.
What are key features of this property?
This property features: 4,500 SF storefront building built in 1988; 100% occupied by five established tenants; Tenant mix includes State Farm, nail salon, realty office, salon spa, and legal firm
