San Carlos Blvd Commercial
For Sale
$1,250,000
16541 San Carlos Boulevard, Fort Myers, FL 33908
3,000 SF commercial building on high-traffic San Carlos Boulevard.
Property Size3,000 SF
Lot Size0.50 Acres
Price / SF$416.67
Days on Market151
Property Features for 16541 San Carlos Boulevard
General Information
Standard status
Active
Size
3,000 SF
Lot size
0.50 Acres
Property subtype
Commercial
Building Details
Year Built
1977
Listing Agency:
ERA Right Choice Realty
(570) 687-3271
Listed By:
Mark Vancosky · License #BK3354617
(239) 984-8177
Source:
Johnrwood
Added: Mar 27
Changed: Aug 23
Last Checked: Aug 22 at 6:18AM
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 ERA Right Choice Realty
Investment Insights
Based on property information with market context.
This approximately 3,000 SF concrete block commercial building is located on a corner site on over half an acre of land. Situated just south of the Super Target along the high-traffic San Carlos Boulevard corridor, the property benefits from excellent visibility, strong street frontage, and easy access. Approximately 30 on-site parking spaces are available. The building is a fully gutted shell, providing a blank canvas ready for a new concept. The existing layout and footprint allow for efficient reconfiguration to accommodate a variety of commercial uses including restaurant, retail, office, or service-oriented businesses, subject to zoning and approvals. With most demolition already completed, this property presents a value-add opportunity for an owner-user or investor seeking to design and build out a space tailored to their specific business needs in a highly desirable South Fort Myers location. The property is offered as-is.
Key Highlights
- High‑traffic location on San Carlos Boulevard near Super Target.
- Large ±3,000 SF building on over half an acre.
- Approximately 30 on‑site parking spaces.
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
$39,355
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
3.15%
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%
$787,100
$787.1K
Cap Rate 7%
$562,214
$562.2K
Cap Rate 9%
$437,278
$437.3K
Market Conditions
NOI Build-Up for 3,000 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
$58.0K $19.32/SF
− Vacancy
−$1.7K −$0.58/SF
EGI
$56.2K $18.74/SF
− OpEx
−$16.9K −$5.62/SF
NOI
$39.4K $13.12/SF
Area
Lee County, FL
Vacancy
3.00%
Lease Rate
$19.32 /SF/Yr
Expense Ratio
30.00%
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%
$787,100
Cap Rate 7%
$562,214
Cap Rate 9%
$437,278
Alternative Uses
Best Use
Retail
$562.2K
$491.9K – $655.9K
NOI $39,355 @ 7.0% cap · market cap 3.15%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$944.2K
$826.2K – $1.10M
NOI $66,096 @ 7.0% cap · market cap 5.29%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Location Intelligence
Trade Area within ½ mile
582
Businesses Nearby
67k
Monthly Visits Nearby
Explore this area
Business Placement
Foot Traffic Nearby
Groceries 41%
Dining 40%
Shops & Services 18%
Electronics 1%
Publix
Groceries
27,074 visits/mo
0.4 miles
McDonald's
Dining
26,707 visits/mo
0.4 miles
The UPS Store
Shops & Services
5,620 visits/mo
0.4 miles
PNC Bank
Shops & Services
2,567 visits/mo
0.2 miles
Chevron
Shops & Services
2,238 visits/mo
0.1 miles
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 Retail 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?
Retail space - 3,000 SF commercial building on high-traffic San Carlos Boulevard.
Where is this retail space located?
The property is located at 16541 San Carlos Boulevard Fort Myers, FL.
What is the asking price?
The asking price for this property is $1,250,000.
What are key features of this property?
This property features: High‑traffic location on San Carlos Boulevard near Super Target.; Large ±3,000 SF building on over half an acre.; Approximately 30 on‑site parking spaces.
