Stand-Alone Retail
For Sale
$2,600,000
17840 San Carlos Boulevard, Fort Myers Beach, FL 33931
Open commercial layout with offices, mezzanine space, storage, and secured outdoor storage area.
Property Size10,805 SF
Days on Market377
Property Features for 17840 San Carlos Boulevard
General Information
Standard status
Active
Size
10,805 SF
Property subtype
SCR
Zoning
CG (Lee County)
Amenities
spacious open showroom
two private offices
mezzanine
ample storage
secure fenced exterior storage area
Building Details
Building Size
10,805 SF
Year Built
2001
Buildings
1
Construction
industrial-style
Listing Agency:
(239) 278-4945
Listed By:
Chase Mayhugh
(239) 278-4945
Source:
Realnex
Added: Aug 21, 2025
Changed: Aug 30
Last Checked: Aug 31 at 12:33PM
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 Chase Mayhugh
Investment Insights
Based on property information with market context.
This stand-alone retail property was built in 2001 and features an open showroom with exposed air ducts that give the interior an industrial character. The layout also includes two private offices, a mezzanine, and substantial storage capacity.
A fenced exterior storage area provides secured outdoor space, while CG zoning in Lee County supports general commercial use. The property is located on San Carlos Boulevard in Fort Myers Beach.
A fenced exterior storage area provides secured outdoor space, while CG zoning in Lee County supports general commercial use. The property is located on San Carlos Boulevard in Fort Myers Beach.
Key Highlights
- 2001 construction
- Open showroom with exposed air ducts
- Two private offices and a mezzanine
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
$141,743
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
5.45%
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%
$2,834,860
$2.8M
Cap Rate 7%
$2,024,900
$2.0M
Cap Rate 9%
$1,574,922
$1.6M
Market Conditions
NOI Build-Up for 10,805 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
$208.8K $19.32/SF
− Vacancy
−$6.3K −$0.58/SF
EGI
$202.5K $18.74/SF
− OpEx
−$60.7K −$5.62/SF
NOI
$141.7K $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%
$2,834,860
Cap Rate 7%
$2,024,900
Cap Rate 9%
$1,574,922
Alternative Uses
Best Use
Retail
$2.02M
$1.77M – $2.36M
NOI $141,743 @ 7.0% cap · market cap 5.45%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$3.40M
$2.98M – $3.97M
NOI $238,056 @ 7.0% cap · market cap 9.16%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Location Intelligence
Trade Area within ½ mile
265
Businesses Nearby
4k
Monthly Visits Nearby
Under-served
Demand for This Use
Explore this area
Business Placement
Foot Traffic Nearby
Apparel 75%
Dining 25%
Surf Style 142
Apparel
3,109 visits/mo
0.1 miles
Domino's Pizza
Dining
1,028 visits/mo
0.5 miles
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?
Showroom - Open commercial layout with offices, mezzanine space, storage, and secured outdoor storage area.
Where is this showroom located?
The property is located at 17840 San Carlos Boulevard Fort Myers Beach, FL.
What is the asking price?
The asking price for this property is $2,600,000.
What are key features of this property?
This property features: 2001 construction; Open showroom with exposed air ducts; Two private offices and a mezzanine
