Historic Bed & Breakfast with
For Sale
$1,599,999
2135 McGregor Blvd, Fort Myers, FL 33901
Licensed hospitality property with guest suites, owner accommodations, office space, and an operating café component.
Property Size4,009 SF
Price / SF$399.10
Days on Market119
Property Features for 2135 McGregor Blvd
General Information
Standard status
Active
Size
4,009 SF
Property subtype
Commercial
Additional Details
Furnished
Yes
Business Included
Yes
Equipment Included
Yes
Building Details
Year Built
1911
Listing Agency:
Royal Shell Real Estate, Inc.
(239) 887-2699
Listed By:
Melissa Smith · License #258028492
Source:
Napleshomesearcher
Added: May 3
Changed: Aug 28
Last Checked: Aug 28 at 8:03PM
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 Royal Shell Real Estate, Inc.
Investment Insights
Based on property information with market context.
This 4,009-square-foot bed and breakfast property combines guest accommodations with an on-site café. The layout includes five guest suites, each with a private entrance and en-suite bath, along with an owner’s suite and office space. The sale includes the real estate, hospitality and café operations, food and beverage and lodging licenses, plus furniture, fixtures, and equipment.
Built in 1911, the property is located at 2135 McGregor Blvd in Fort Myers. It sits across from First Street Publix and First Watch and is within walking distance of the Downtown River District, Edison & Ford Winter Estates, Centennial Park, the Caloosahatchee River, marinas, shopping, dining, galleries, entertainment, and community events.
Built in 1911, the property is located at 2135 McGregor Blvd in Fort Myers. It sits across from First Street Publix and First Watch and is within walking distance of the Downtown River District, Edison & Ford Winter Estates, Centennial Park, the Caloosahatchee River, marinas, shopping, dining, galleries, entertainment, and community events.
Key Highlights
- Five guest suites with private entrances and en‑suite baths
- 4,009‑square‑foot bed and breakfast property
- Includes owner’s suite and office space
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
$63,647
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
3.98%
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%
$1,272,940
$1.3M
Cap Rate 7%
$909,243
$909.2K
Cap Rate 9%
$707,189
$707.2K
Market Conditions
NOI Build-Up for 4,009 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
$86.6K $21.60/SF
− Vacancy
−$1.7K −$0.43/SF
EGI
$84.9K $21.17/SF
− OpEx
−$21.2K −$5.29/SF
NOI
$63.6K $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%
$1,272,940
Cap Rate 7%
$909,243
Cap Rate 9%
$707,189
Alternative Uses
Best Use
Specialty Retail
$909.2K
$795.6K – $1.06M
NOI $63,647 @ 7.0% cap · market cap 3.98%
Second Best
Hotel Hospitality
$334.6K
$292.8K – $390.4K
NOI $23,423 @ 7.0% cap · market cap 1.46%
Theoretical Best
Office A
$1.26M
$1.10M – $1.47M
NOI $88,326 @ 7.0% cap · market cap 5.52%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
Turnkey business
Opportunity
Location Intelligence
Trade Area within ½ mile
2,265
Businesses Nearby
117k
Monthly Visits Nearby
Well-served
Demand for This Use
Explore this area
Business Placement
Foot Traffic Nearby
Dining 37%
Groceries 32%
Shops & Services 26%
Hotels & Casinos 5%
Publix
Groceries
37,767 visits/mo
0.2 miles
RaceTrac
Shops & Services
25,274 visits/mo
0.3 miles
Ford's Garage
Dining
15,286 visits/mo
0.5 miles
Dunkin' Donuts
Dining
8,194 visits/mo
0.4 miles
Starbucks
Dining
7,994 visits/mo
0.5 miles
Demographics for 33901, FL
22,629
Population
11,709
Households
1.9
Avg Household Size
43
Median Age
29%
College-Educated
83%
High-School Grad
6.2 sq mi
ZIP Area
3,650
Density / Sq Mi
$51,579
Median Household Income
$37,233
Median Earnings
$1,291
Median Rent
$280,400
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?
Bed & breakfast - Licensed hospitality property with guest suites, owner accommodations, office space, and an operating café component.
Where is this bed & breakfast located?
The property is located at 2135 McGregor Blvd Fort Myers, FL.
What is the asking price?
The asking price for this property is $1,599,999.
What are key features of this property?
This property features: Five guest suites with private entrances and en‑suite baths; 4,009‑square‑foot bed and breakfast property; Includes owner’s suite and office space
