Retail Plaza in Fort
13468 Palm Beach Boulevard Fort Myers, FL 33905
For Sale
$699,000
Pending
High-visibility retail plaza with diverse tenant mix and potential occupancy.
Property Size2,790 SF
Lot Size0.27 Acres
Days on Market793
Property Features for 13468 Palm Beach Boulevard
General Information
Standard status
Pending
Size
2,790 SF
Lot size
0.27 Acres
Property subtype
Commercial/Industrial
Building Details
Year Built
1958
Listing Agency:
Weatherford Realty Group LLC
(863) 673-2775
Listed By:
Stephanie Sposato · License #258005213
(863) 673-2775
Source:
Exitrealty
Added: May 28, 2024
Changed: Jul 10
Last Checked: Jul 29 at 4:38AM
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 Weatherford Realty Group LLC
Investment Insights
Based on property information with market context.
This retail plaza is located in the Fort Myers Shores/Riverdale area. The property has 100 feet of road frontage on Palm Beach Boulevard. The building consists of 2,790 square feet divided into 3 units, with 11 parking spaces available. The property is zoned C-1, allowing for a variety of retail, restaurant, medical, and professional offices, as well as food stores and laundromats. The plaza has a history of long-term tenants, including an art store, eye doctor, and sign shop. All units were recently renovated, including the roof, electrical, plumbing, and parking lot. The property is located in a rapidly growing area with high visibility and traffic counts. All three units are currently leased, but the middle unit, approximately 700 square feet, could be available for occupancy by a buyer.
Key Highlights
- High visibility retail plaza with 100' road frontage on Palm Beach Blvd in a busy, rapidly growing area.
- All three units are leased, but the middle unit (approx. 700 SF) could be available for occupancy by a buyer.
- Recently renovated including roof, electrical, plumbing, and parking lot.
Financial Insights For Retail
Simulate Cap Rate and NOI
NOI Build-Up
- 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.
| Component | $ | $/SF |
|---|---|---|
| Gross rent | $53.9k | $19.32 |
| − Vacancy | −$1.6k | −$0.58 |
| EGI | $52.3k | $18.74 |
| − OpEx | −$15.7k | −$5.62 |
| NOI | $36.6k | $13.12 |
2,790 SF · lease $19.32/SF/yr · vacancy 3.00% · expense 30.00%
Alternative Uses
Best Use
Retail
$522.9K
$457.5K – $610.0K
NOI $36,600 @ 7.0% cap · market cap 5.24%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$878.1K
$768.4K – $1.02M
NOI $61,469 @ 7.0% cap · market cap 8.79%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Location Intelligence
Current Use
Similar Off Market Nearby
- Riverdale Shopping Center — 14561 Palm Beach Blvd, Fort Myers, FL 33905
Frequently Asked Questions
What type of property is this?
Shopping center - High-visibility retail plaza with diverse tenant mix and potential occupancy.
Where is this shopping center located?
The property is located at 13468 Palm Beach Boulevard Fort Myers, FL.
What is the asking price?
The asking price for this property is $699,000.
What are key features of this property?
This property features: High visibility retail plaza with **100' road frontage on Palm Beach Blvd** in a busy, rapidly growing area.; All three units are leased, but the middle unit (approx. 700 SF) could be available for occupancy by a buyer.; **Recently renovated** including roof, electrical, plumbing, and parking lot.
