Four-Suite Office
For Sale
$875,000
16048 San Carlos Blvd, Fort Myers, FL 33908
Commercial Sale, FORT MYERS, FL
Property Size4,000 SF
Lot Size0.69 Acres
Price / SF$218.75
Days on Market233
Property Features for 16048 San Carlos Blvd
General Information
Property type
Commercial Sale
Property subtype
Office
Zoning
C-1A
Parking
18
Directions
From US-41 (Tamiami Trail), head south on San Carl
Subdivision
FM12 - Fort Myers Area
Standard status
Active
APN
06-46-24-00-00003.1080
Lot size
0.69 Acres
Taxes and HOA fees
Tax Year
2025
Tax Description
PARL IN N W 1/4 AS DESC IN OR 1812 PG 1446 LESS R/W
Tax Annual Amount
6910
Legal Description
PARL IN N W 1/4 AS DESC IN OR 1812 PG 1446 LESS R/W
Utilities
Utilities
Phone Available
Heating system
Central, Electric (Heating)
Building Details
Year built
1986
Floors in Building
1
Listing Agency:
Power Real Estate Group
Listed By:
Celina Weathersby · License #3459962
(813) 454-8041
Added: Jan 25
Changed: Sep 12
Last Checked: Sep 15 at 12:06AM
MLS# 226004145
Copyright © 2026 Coconut Coast Organization of REALTORS. 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 standalone office building was constructed in 1986 and is configured as four individual suites. Suites one and two are occupied by the current owners, who will continue their insurance business as tenants following the sale. A boating company occupies the fourth suite, while the third suite is vacant for lease-up or owner occupancy. The property includes on-site parking and central electric heating, with phone service available.
The building is positioned at 16048 San Carlos Blvd in Fort Myers, along a commercial corridor with access to retailers, grocery, hardware, and service-oriented businesses. The site encompasses 0.693 acres and carries C-1A zoning. Existing occupancy across three suites provides an established tenancy profile, while the available suite adds flexibility for a future occupant or additional leasing activity.
The building is positioned at 16048 San Carlos Blvd in Fort Myers, along a commercial corridor with access to retailers, grocery, hardware, and service-oriented businesses. The site encompasses 0.693 acres and carries C-1A zoning. Existing occupancy across three suites provides an established tenancy profile, while the available suite adds flexibility for a future occupant or additional leasing activity.
Key Highlights
- Four individual office suites within a standalone building
- Three suites occupied, including two by the current owners and one by a boating company
- Third suite is vacant for lease‑up or owner occupancy
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
$68,740
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
7.86%
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%
$1,374,800
$1.4M
Cap Rate 7%
$982,000
$982.0K
Cap Rate 9%
$763,778
$763.8K
Market Conditions
NOI Build-Up for 4,000 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
$99.8K $24.96/SF
− Vacancy
−$8.2K −$2.05/SF
EGI
$91.7K $22.91/SF
− OpEx
−$22.9K −$5.73/SF
NOI
$68.7K $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%
$1,374,800
Cap Rate 7%
$982,000
Cap Rate 9%
$763,778
Alternative Uses
Best Use
Office B
$982.0K
$859.3K – $1.15M
NOI $68,740 @ 7.0% cap · market cap 7.86%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$1.26M
$1.10M – $1.47M
NOI $88,128 @ 7.0% cap · market cap 10.07%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
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Current Use
Lease Details
4
Office units
Multi-tenant
Tenancy
Yes
Paved road access
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
Check the figures for this property
Cap Rate, Value Estimation, Potential NOI and more
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Market
Vacancy Rate% for Office in South region
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Frequently Asked Questions
What type of property is this?
Office building - Standalone professional office property with four suites, on-site parking, and C-1A zoning.
Where is this office building located?
The property is located at 16048 San Carlos Blvd 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: Four individual office suites within a standalone building; Three suites occupied, including two by the current owners and one by a boating company; Third suite is vacant for lease‑up or owner occupancy
