Occupied Strip Mall with New
For Sale
$1,285,000
13102 Palm Beach BLVD, Fort Myers, FL 33905
Fully occupied multi-tenant property with updated interiors and direct arterial-road access.
Property Size4,500 SF
Price / SF$285.56
Days on Market22
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
Tenancy
Multi
Listing Agency:
RE/MAX Gulf Coast Living
(239) 834-7161
Listed By:
Travis Ronco · License #258034285
Source:
Kwelevate
Added: Aug 10
Changed: Aug 30
Last Checked: Aug 30 at 9:34PM
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 strip mall contains approximately 4,500 SF of commercial space and was built in 1988. The building is 100% occupied by five established tenants representing insurance, nail salon, realty, salon spa, and legal uses, including a State Farm office. Recent property improvements include a new roof and updated interior finishes, providing a refreshed configuration for the current occupants.
The property fronts Palm Beach Boulevard, also designated SR 80, with direct highway frontage and convenient access. The roadway carries roughly 35,000+ vehicles per day, placing the building along a heavily traveled East Fort Myers corridor. The surrounding area includes the Verandah and Riverhall, both identified in the property information as nearby communities. A diversified tenant lineup and fully leased occupancy define the asset’s current operating profile.
The property fronts Palm Beach Boulevard, also designated SR 80, with direct highway frontage and convenient access. The roadway carries roughly 35,000+ vehicles per day, placing the building along a heavily traveled East Fort Myers corridor. The surrounding area includes the Verandah and Riverhall, both identified in the property information as nearby communities. A diversified tenant lineup and fully leased occupancy define the asset’s current operating profile.
Key Highlights
- +-4,500 SF strip mall building
- 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
241
Businesses Nearby
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.
Frequently Asked Questions
What type of property is this?
Strip mall - Fully occupied multi-tenant property with updated interiors and direct arterial-road access.
Where is this strip mall 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 strip mall building; 100% occupied by five established tenants; Tenant mix includes State Farm, nail salon, realty office, salon spa, and legal firm
