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    Prime Commercial Opportunity on Boulevard Title is generated by Realmo AI

    185 Old San Carlos Boulevard, Fort Myers Beach, FL 33931

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    For Sale
    $1,500,000

    COMMERCIAL - Other - Fort Myers Beach, FL

    Type:Office
    Lot size:
    0.10 Acres
    Added:
    Nov 17, 2025
    Days on Market:
    187
    Last Refresh:
    May 23 at 9:06 am

    Property Features for 185 Old San Carlos Boulevard

    General Information

    Property type
    Commercial Sale
    Property subtype
    Office
    Standard status
    Active
    APN
    24-46-23-W3-0050A.0130
    Lot size
    0.10 Acres

    Taxes and HOA fees

    Tax Year
    2024
    Tax Description
    ISLAND SHORES UNIT 2 BLK A PB 9 PG 25 LOT 13 + PT LOT 14
    Tax Annual Amount
    5255

    Building Details

    Year built
    1955
    Floors in Building
    2
    Architectural style
    Other

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    Listing Contact
    James Farrell
    James Farrell

    Listing agent James Farrell License #192069101

    Listing office ERA Lahaina Realty 6035 Estero Blvd, Fort Myers Beach, FL

    Listing date Nov 17, 2025

    MLS# 2025020983

    Copyright © 2026 Florida Gulf Coast Multiple Listing Service, Inc. All rights reserved. All information provided by the listing agent/broker is deemed reliable but is not guaranteed and should be independently verified.

    HighLights

    • Prime location on Old San Carlos Blvd, steps from Times Square, the Fort Myers Beach Pier, and parks.
    • High redevelopment potential in a rapidly growing commercial corridor.
    • Flexible Commercial Boulevard (CB) zoning allows for diverse uses (restaurant, retail, office, residential, mixed‑use).
    • Exceptional exposure with 34 feet of frontage on a high‑traffic corridor.
    • Strong future upside in a recognized beachfront destination.
    • Opportunity to rehab the existing structure for immediate activation.

    Overview

    This commercial property is located on Old San Carlos Boulevard in Fort Myers Beach. The property offers redevelopment potential in one of the island's fastest-growing commercial corridors. Situated directly on Old San Carlos Boulevard, this site is near Times Square, the Fort Myers Beach Pier, Crescent Beach Family Park, and Lynn Hall Memorial Park. Ongoing redevelopment and improvements throughout the area continue to drive renewed energy, tourism, and long-term growth throughout the district. The property provides frontage of 34 feet along one of the island's busiest pedestrian and vehicle corridors. The property is zoned Commercial Boulevard (CB), allowing for a variety of uses including restaurant, bar, retail, office, residential, or mixed-use development. The existing structure presents an opportunity for immediate rehabilitation and activation, while the zoning and location also support larger long-term redevelopment possibilities. The 0.099-acre property is located within the high-traffic Downtown Core on Old San Carlos Boulevard, adjacent to Times Square, the Fort Myers Beach Pier, Crescent Beach Family Park, and Lynn Hall Memorial Park.
    Property Profile Location Intelligence

    Current Use by Public Records

    Commercial land

    Suggested Use

    Law Firm Real Estate Agency Restaurant Spa & Massage Center Nail Salon Building Supply Auto Repair Shop Gym & Fitness Center Big Box & Wholesale Store Skin Care Clinic

    Zoning and permitted uses should be independently verified with local authorities.

    Location Insight

    • Map
    • Local Demand
    City
    Fort Myers Beach
    County
    Lee
    State
    Florida
    Longitude
    -81.95601
    Latitude
    26.454291

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    FAQs

    What type of property is this?
    Commercial land - Commercial property on Old San Carlos Boulevard with redevelopment potential.
    Where is this commercial land located?
    The property is located at 185 Old San Carlos Boulevard Fort Myers Beach, FL.
    What is the asking price?
    The asking price for this property is $1,500,000.
    What are key features of this property?
    This property features: Prime location on Old San Carlos Blvd, steps from Times Square, the Fort Myers Beach Pier, and parks.; High redevelopment potential in a rapidly growing commercial corridor.; Flexible Commercial Boulevard (CB) zoning allows for diverse uses (restaurant, retail, office, residential, mixed‑use).
    (239) 544-2880
    We can help!
    Listing Contact
    James Farrell
    James Farrell
    Real Estate License ID: 192069101
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    Realmo Value Estimations

    Realmo estimates a property’s market value using a proprietary methodology that incorporates public data and user-submitted information. This cumulative value is generated by integrating a variety of conventional and innovative methods. 

    Disclaimer

    These figures are not official appraisals and should not be used as a substitute for a valuation performed by a licensed appraiser.
    Actual market value may differ due to factors not captured in the data. Estimates are offered for informational purposes only, and users should conduct independent research before making financial or investment decisions.
    By using this feature, you acknowledge that Realmo is not responsible for actions taken based on these estimates.

    AI approach

    Realmo AI Method estimates property value using machine learning models trained on millions of comparable listings, transactions, and market signals. It analyzes property features, location intelligence data, and current market dynamics to predict the most probable market value in real time.

    Realmo CapRate Calculation

    Realmo calculates the Capitalization Rate (Cap Rate) to help estimate a property's potential return on investment. The Cap Rate is a fundamental metric in commercial real estate that measures the relationship between a property's net operating income and its market value.

    How We Calculate Cap Rate

    Cap Rate Formula:
    Cap Rate (%) = (Net Operating Income / Property Value) × 100

    Net Operating Income (NOI) Formula:
    NOI = Area × Lease Rate × (1 - Vacancy Rate) × (1 - Operating Expense Ratio)

    Components

    Net Operating Income (NOI) represents the annual income a property generates after operating expenses:

    • Area: Building square footage from property records
    • Lease Rate: Annual $/sqft based on market data for the property type and geographic location
    • Vacancy Rate: Percentage of unoccupied space based on market data for the property type and location
    • Operating Expense Ratio: Operating costs as a percentage of income, varies by property type

    Property Value is derived from:

    • Recent sale price (if available)
    • Statistical models using comparable sales
    • AI-powered valuation estimates

    Example Calculation

    For a 100,000 sqft Office Building:

    • Lease Rate: $25.00/sqft/year (market data for Office in this area)
    • Vacancy Rate: 8% (market data for Office in this area)
    • Operating Expense Ratio: 35% (typical for Office properties)
    • Property Value: $15,000,000

    Step 1: Calculate NOI

    NOI = 100,000 × $25.00 × (1 - 0.08) × (1 - 0.35)
    NOI = 100,000 × $25.00 × 0.92 × 0.65
    NOI = $1,495,000/year

    Step 2: Calculate Cap Rate

    Cap Rate = ($1,495,000 / $15,000,000) × 100
    Cap Rate = 9.97%

    Property Type Considerations

    Net Operating Income calculations vary by property type due to different operating expense ratios:

    • Office: Higher expenses (30-40%) for HVAC, utilities, maintenance
    • Retail: Moderate expenses (25-35%) for common area maintenance
    • Industrial/Warehouse: Lower expenses (15-25%) for minimal tenant services
    • Multifamily: Moderate expenses (35-45%) including property management
    • Self-Storage: Lower expenses (25-35%) due to minimal maintenance

    Market lease rates and vacancy rates are specific to each property type and geographic location, reflecting local market conditions.

    Disclaimer

    These calculations are estimates for informational purposes only and should not be used as a substitute for professional financial analysis or appraisal.

    • Cap Rate calculations depend on market data that may change over time
    • Actual operating expenses, lease rates, and vacancy rates may differ from market averages
    • Individual property conditions, lease terms, and tenant quality significantly impact actual NOI
    • Property value estimates are approximations and not official appraisals
    • Cap rates vary widely by market, property condition, and investment risk profile

    Professional Guidance Recommended: Before making any investment or financial decisions, consult with licensed appraisers, commercial real estate brokers, and financial advisors who can evaluate your specific property and circumstances.
    By using this feature, you acknowledge that Realmo is not responsible for investment decisions or actions taken based on these estimates.

    Cap approach

    Capitalization Method calculates value based on estimated net operating income (NOI) and applying a market-based capitalization rate (cap rate), we estimate what a typical investor might be willing to pay for it.

    Comparable approach

    Comparable estimate is based on recent sales of similar nearby properties, adjusted for factors like size, condition, and location.

    Relative

    Relative property class coefficient uses factors that account for typical price differences between various asset types (e.g., retail vs. industrial) to provide a more accurate market-aligned estimate.

    Geo

    Comparable Sales Method, enhanced by Geo coefficients — location-based adjustment factors that reflect differences in price levels across neighborhoods, cities, or regions ensuring a more accurate, market-sensitive valuation.

    Stat Estimate

    This method estimates value based on actual market adjusted recent (~5 years) sales of comparable properties around by location and property type.

    • Ranges - area data calculated by industry standard IQR Outlier Removal Method
    • Range-from: 75% of all similar sales ($/sqft) are above this value
    • Range-to: 75% of all similar sales ($/sqft) are below this value
    AI Estimate

    This method estimates value based on AI market estimation of comparable properties around by location and property type.

    • Ranges - area data calculated by industry standard IQR Outlier Removal Method
    • Range-from: 75% of all estimations ($/sqft) are above this value
    • Range-to: 75% of all estimations ($/sqft) are below this value
    Alternative use

    Estimate considers the property’s potential value if used for a different purpose-based on zoning, demand, and market feasibility.

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