Mixed-Use Commercial
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For Sale
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16641 San Carlos Boulevard, Fort Myers, FL 33908
Dual commercial zoning supports office, retail, restaurant, and service-oriented uses.
Property Size5,965 SF
Lot Size1.41 Acres
Price / SF$318.52
Days on Market6
Property Features for 16641 San Carlos Boulevard
General Information
Standard status
Active
Size
5,965 SF
Lot size
1.41 Acres
Property subtype
Mixed Use
Zoning
Commercial C1-A, Community Commercial CC
Investment Type
Redevelopment
Building Details
Year Built
1956
Buildings
2
Listing Agency:
LSI Companies
(239) 565-3456
Listed By:
Alec Burke · License #FL SL3548362
Source:
Crexi
Added: Aug 27
Changed: Aug 31
Last Checked: Aug 31 at 2:47PM
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 LSI Companies
Investment Insights
Based on property information with market context.
This mixed-use commercial property combines approximately 1.41 acres with 5,965 square feet of existing improvements. The 1956-built asset offers a redevelopment path or continued operation with flexible leases already in place. Its 285± feet of road frontage and dual Commercial C1-A and Community Commercial CC zoning support a range of office, retail, restaurant, and service-oriented applications.
The property occupies a gateway corridor serving Fort Myers Beach and nearby residential communities. Summerlin Road is approximately 0.5 miles away, while McGregor Boulevard is 1.2 miles distant. Fort Myers Beach is 3.2 miles away, US 41 is 5.6 miles away, and I-75 is 11.5 miles from the site. Sanibel Island, downtown Fort Myers, Southwest Florida International Airport, and Captiva Island are also within the stated surrounding-area distances.
The property occupies a gateway corridor serving Fort Myers Beach and nearby residential communities. Summerlin Road is approximately 0.5 miles away, while McGregor Boulevard is 1.2 miles distant. Fort Myers Beach is 3.2 miles away, US 41 is 5.6 miles away, and I-75 is 11.5 miles from the site. Sanibel Island, downtown Fort Myers, Southwest Florida International Airport, and Captiva Island are also within the stated surrounding-area distances.
Key Highlights
- 1.41± acres combined with 5,965 square feet of existing improvements
- 285± feet of road frontage
- Commercial C1‑A and Community Commercial CC zoning
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
$73,593
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
3.87%
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%
$1,471,860
$1.5M
Cap Rate 7%
$1,051,329
$1.1M
Cap Rate 9%
$817,700
$817.7K
Market Conditions
NOI Build-Up for 5,965 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
$125.3K $21.00/SF
− Vacancy
−$7.5K −$1.26/SF
EGI
$117.7K $19.74/SF
− OpEx
−$44.2K −$7.40/SF
NOI
$73.6K $12.34/SF
Area
Lee County, FL
Vacancy
6.00%
Lease Rate
$21.00 /SF/Yr
Expense Ratio
37.50%
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%
$1,471,860
Cap Rate 7%
$1,051,329
Cap Rate 9%
$817,700
Alternative Uses
Best Use
Mixed Use
$1.05M
$919.9K – $1.23M
NOI $73,593 @ 7.0% cap · market cap 3.87%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$1.88M
$1.64M – $2.19M
NOI $131,421 @ 7.0% cap · market cap 6.92%
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
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
Questions? Ask Rey
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Frequently Asked Questions
What type of property is this?
Mixed-use property - Dual commercial zoning supports office, retail, restaurant, and service-oriented uses.
Where is this mixed-use property located?
The property is located at 16641 San Carlos Boulevard Fort Myers, FL.
What is the asking price?
The asking price for this property is $1,900,000.
What are key features of this property?
This property features: 1.41± acres combined with 5,965 square feet of existing improvements; 285± feet of road frontage; Commercial C1‑A and Community Commercial CC zoning
