Fully Occupied Office
For Sale
$1,285,000
13102 Palm Beach Boulevard, Fort Myers, FL 33905
CommercialSale, Fort Myers, FL
Property Size4,500 SF
Lot Size0.40 Acres
Price / SF$285.56
Days on Market20
Property Features for 13102 Palm Beach Boulevard
General Information
Property type
Commercial Sale
Property subtype
Office
Zoning description
C-1
Subdivision
FE07 - East Fort Myers Area
Standard status
Active
APN
29-43-26-03-00036.0330
Lot size
0.40 Acres
Taxes and HOA fees
Tax Year
2025
Tax Description
FT.MYERS SHORES UNIT 3 BLK.36 PB 10 PG 26 LOTS 33 THRU 37
Tax Annual Amount
7759
Legal Description
FT.MYERS SHORES UNIT 3 BLK.36 PB 10 PG 26 LOTS 33 THRU 37
Building Details
Year built
1988
Floors in Building
1
Listing Agency:
RE/MAX Gulf Coast Living · RE/MAX International
(239) 693-1959
Listed By:
Travis Ronco · License #258034285
(239) 834-7161
Added: Aug 10
Changed: Aug 28
Last Checked: Aug 29 at 2:06PM
MLS# 2026029157
Copyright © 2026 Florida Gulf Coast Multiple Listing Service, Inc. 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 4,500-square-foot office building, constructed in 1988, is fully occupied by five tenants. The tenant roster includes State Farm, a nail salon, a realty office, a salon spa, and a legal firm. Recent property improvements include a new roof and updated interiors.
The building fronts Palm Beach Boulevard, also designated SR 80, a major arterial carrying approximately 35,000+ vehicles per day. The site contains 0.404 acres and is located in the East Fort Myers corridor near Verandah and Riverhall, with direct frontage and access to the highway corridor.
The building fronts Palm Beach Boulevard, also designated SR 80, a major arterial carrying approximately 35,000+ vehicles per day. The site contains 0.404 acres and is located in the East Fort Myers corridor near Verandah and Riverhall, with direct frontage and access to the highway corridor.
Key Highlights
- 4,500 SF office building built in 1988
- 100% occupied by five 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
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Frequently Asked Questions
What type of property is this?
Office building - Maintained commercial property with updated interiors, a new roof, and a diversified tenant roster.
Where is this office building located?
The property is located at 13102 Palm Beach Boulevard 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 office building built in 1988; 100% occupied by five tenants; Tenant mix includes State Farm, nail salon, realty office, salon spa, and legal firm
