Freestanding Commercial Property on San
For Sale
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17650 San Carlos Blvd, Fort Myers Beach, FL 33931
14,000 SF building on 3.5 acres, prime location.
Property Size14,000 SF
Lot Size3.50 Acres
Price / SF$414.21
Days on Market143
Property Features for 17650 San Carlos Blvd
General Information
Standard status
Active
Size
14,000 SF
Lot size
3.50 Acres
Property subtype
Land, Retail, Special Purpose
Building Details
Year Built
2006
Listing Agency:
ERA Right Choice Realty - Commercial
(570) 687-3271
Listed By:
MARK VANCOSKY · License #BK3354617
Source:
Crexi
Added: Mar 23
Changed: Jul 10
Last Checked: Aug 11 at 5:42PM
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 - Commercial
Investment Insights
Based on property information with market context.
This freestanding commercial property is located along the San Carlos Blvd corridor, between Summerlin Rd and Fort Myers Beach. The site includes approximately 3.5 acres and features a well-maintained ±14,000 SF building designed in an Olde Florida style, with vaulted ceilings and natural wood accents. The current layout offers a mix of retail and restaurant space, including dual kitchen areas and a private dining room. The property includes a large paved and striped parking area with approximately 100 spaces, along with dual access points. Zoned C-2, the 3.5-acre site is suitable for continued use, reconfiguration, or future redevelopment. The size and layout of the land offer potential for a wide range of commercial applications.
Key Highlights
- 3. 5‑acre site on highly traveled San Carlos Blvd corridor.
- ±14,000 SF building with flexible retail and restaurant space.
- Zoned C‑2, offering versatility for continued use, reconfiguration, or future redevelopment.
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
$222,264
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
3.83%
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%
$4,445,280
$4.4M
Cap Rate 7%
$3,175,200
$3.2M
Cap Rate 9%
$2,469,600
$2.5M
Market Conditions
NOI Build-Up for 14,000 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
$302.4K $21.60/SF
− Vacancy
−$6.0K −$0.43/SF
EGI
$296.4K $21.17/SF
− OpEx
−$74.1K −$5.29/SF
NOI
$222.3K $15.88/SF
Area
Lee County, FL
Vacancy
2.00%
Lease Rate
$21.60 /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%
$4,445,280
Cap Rate 7%
$3,175,200
Cap Rate 9%
$2,469,600
Alternative Uses
Best Use
Specialty Retail
$3.18M
$2.78M – $3.70M
NOI $222,264 @ 7.0% cap · market cap 3.83%
Second Best
Retail
$2.62M
$2.30M – $3.06M
NOI $183,656 @ 7.0% cap · market cap 3.17%
Theoretical Best
Office A
$4.41M
$3.86M – $5.14M
NOI $308,448 @ 7.0% cap · market cap 5.32%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Location Intelligence
Trade Area within ½ mile
608
Businesses Nearby
Explore this area
Business Placement
Demographics for 33931, FL
9,389
Population
14,561
Households
0.6
Avg Household Size
68
Median Age
37%
College-Educated
97%
High-School Grad
10.3 sq mi
ZIP Area
912
Density / Sq Mi
$80,438
Median Household Income
$38,723
Median Earnings
$1,500
Median Rent
$475,100
Median Home Value
Market
Vacancy Rate% for Retail in South region
Questions? Ask Rey
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Frequently Asked Questions
What type of property is this?
Retail space - 14,000 SF building on 3.5 acres, prime location.
Where is this retail space located?
The property is located at 17650 San Carlos Blvd Fort Myers Beach, FL.
What is the asking price?
The asking price for this property is $5,799,000.
What are key features of this property?
This property features: 3. 5‑acre site on highly traveled San Carlos Blvd corridor.; ±14,000 SF building with flexible retail and restaurant space.; Zoned C‑2, offering versatility for continued use, reconfiguration, or future redevelopment.
