Class B Office Building with
For Sale
$875,000
16048 SAN CARLOS BOULEVARD, Fort Myers, FL 33908
Stand-alone Class B office building with four suites on an oversized lot and ample on-site parking.
Property Size4,400 SF
Lot Size0.69 Acres
Price / SF$198.86
Days on Market228
Property Features for 16048 SAN CARLOS BOULEVARD
General Information
Standard status
Active
Size
4,400 SF
Class
B
Lot size
0.69 Acres
Property subtype
Office
Zoning
C1A
Additional Details
Office Units
4
Taxes and HOA fees
Annual Taxes
$6,910
Amenities
Central Air
3
Central Business District, Oversized Lot, City Road, Paved Road.
Building Details
Year Built
1986
Tenancy
Multi
Listing Agency:
POWER REAL ESTATE GROUP LLC
(813) 454-8041
Listed By:
Celina Weathersby · License #3459962
Source:
Xome
Added: Jan 21
Changed: Sep 2
Last Checked: Sep 6 at 4:50AM
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 POWER REAL ESTATE GROUP LLC
Investment Insights
Based on property information with market context.
This stand-alone Class B commercial office building totals 4,400 square feet and is divided into four individual office suites. Suites one and two are occupied by the current owners, operating an established insurance business that will remain in place after the sale. Suite three is vacant, offering flexibility for lease-up or owner occupancy. Suite four is occupied by a long-term boating company tenant, providing additional in-place income.
The property is located on high-traffic San Carlos Blvd along a commercial corridor with strong surrounding retail, service, and destination businesses. It is zoned C1A and sits on an oversized lot exceeding 30,000 square feet with ample on-site parking and strong street visibility.
For buyers seeking a partially stabilized office asset with the ability to capture additional value through the vacant suite, this building offers a multi-suite setup in a C1A commercial location.
The property is located on high-traffic San Carlos Blvd along a commercial corridor with strong surrounding retail, service, and destination businesses. It is zoned C1A and sits on an oversized lot exceeding 30,000 square feet with ample on-site parking and strong street visibility.
For buyers seeking a partially stabilized office asset with the ability to capture additional value through the vacant suite, this building offers a multi-suite setup in a C1A commercial location.
Key Highlights
- ±4,000 SF Class B stand‑alone commercial office building on high‑traffic San Carlos Blvd
- Oversized lot exceeding 30,000 SF with ample on‑site parking and convenient access
- Building divided into 4 individual office suites for flexible leasing and income diversification
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
$75,614
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
8.64%
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%
$1,512,280
$1.5M
Cap Rate 7%
$1,080,200
$1.1M
Cap Rate 9%
$840,156
$840.2K
Market Conditions
NOI Build-Up for 4,400 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
$109.8K $24.96/SF
− Vacancy
−$9.0K −$2.05/SF
EGI
$100.8K $22.91/SF
− OpEx
−$25.2K −$5.73/SF
NOI
$75.6K $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%
$1,512,280
Cap Rate 7%
$1,080,200
Cap Rate 9%
$840,156
Alternative Uses
Best Use
Office B
$1.08M
$945.2K – $1.26M
NOI $75,614 @ 7.0% cap · market cap 8.64%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$1.38M
$1.21M – $1.62M
NOI $96,941 @ 7.0% cap · market cap 11.08%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
4
Office units
Multi-tenant
Tenancy
Location Intelligence
Trade Area within ½ mile
767
Businesses Nearby
Explore this area
Business Placement
Demographics for 33908, FL
43,110
Population
32,067
Households
1.3
Avg Household Size
63
Median Age
44%
College-Educated
96%
High-School Grad
34.2 sq mi
ZIP Area
1,261
Density / Sq Mi
$74,711
Median Household Income
$50,063
Median Earnings
$1,829
Median Rent
$346,200
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 units - Stand-alone Class B office building with four suites on an oversized lot and ample on-site parking.
Where is this office units located?
The property is located at 16048 SAN CARLOS BOULEVARD Fort Myers, FL.
What is the asking price?
The asking price for this property is $875,000.
What are key features of this property?
This property features: ±4,000 SF Class B stand‑alone commercial office building on high‑traffic San Carlos Blvd; Oversized lot exceeding 30,000 SF with ample on‑site parking and convenient access; Building divided into 4 individual office suites for flexible leasing and income diversification
