Add Listing
    For Sale
    • For Sale
    • For Lease
    • Recently Sold
    • Property Lookup
    • Brokers
    AI Search
    Back to Search
    The Largest CRE Database in the US with Over 1 Million Listings

    11941 Penzance Blvd Fort Myers, FL 33912

    View on Map
    Loading data...
    Loading data...
    Loading data...
    For Sale
    Contact for pricing

    9.51 Acres, Prime Location, RPD Zoning

    Property Features for 11941 Penzance Blvd

    General Information

    Property type
    Land
    Lot Size
    414,256 SF

    We can help!

    Listing Contact
    Justin Thibaut
    Justin Thibaut

    Listing Agency: Land Solutions Inc Listing Agent: Justin Thibaut

    Displayed information is deemed reliable but is not guaranteed and should be independently verified.

    Learn more

    Overview

    This exceptional 9.51-acre parcel presents a remarkable development opportunity in Fort Myers, Florida. Located at the southeast corner of Penzance Boulevard and Blasingim Road, this cleared and fenced property boasts RPD (Residential Planned Development) zoning, permitting up to 90 townhome units. The Central Urban future land use designation allows for a density of up to 10 residential units per acre. The site benefits from convenient access to major roadways, including proximity to Daniels Parkway (2.5 miles), US-41 (4.4 miles), I-75 (5.2 miles), and Southwest Florida International Airport (RSW) (10 miles). Nearby amenities include the Six Mile Cypress Slough Preserve Park, a new Whole Foods grocery store (1.4 miles), the Minnesota Twins and Boston Red Sox spring training facilities, Bell Tower Shops, and Lee Memorial Gulf Coast Hospital (undergoing a $306 million expansion). The strong demand for housing in this area, coupled with limited development opportunities, makes this a highly attractive investment for builders and developers seeking to capitalize on the thriving Fort Myers real estate market. The property's APN is 08-45-25-00-00003.0050. Additional nearby points of interest include Gulf Coast Medical Center (3.4 miles) and Page Field Airport (4.2 miles). This property is offered as an investment opportunity.
    Property Profile Location Intelligence

    Current Use by Public Records

    Commercial real estate

    Suggested Use

    Restaurant Real Estate Agency Building Supply Spa & Massage Center Dental Office Big Box & Wholesale Store Auto Repair Shop Gym & Fitness Center Pharmacy Skin Care Clinic

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

    Location Insight

    • Map
    • Local Demand
    City
    Fort Myers
    County
    Lee
    State
    Florida
    Longitude
    -81.83614839358
    Latitude
    26.570525442474

    Nearby Similar for Sale

    • $650,000
      4,002 SF

      Office and Warehouse Space

      4002 SF office/warehouse in Fort Myers, Florida.
      12155 Metro Pkwy, Fort Myers, FL 33966
      View Details
    • New
      $698,500
      0.18 Acres

      Income-Producing Body Shop For Sale

      Income-producing body shop with stable lease in place for sale.
      2242 Fowler St, Fort Myers, FL 33901
      View Details
    • New
      $1,475,000
      15,000 SF

      Commercial Portfolio in Central Fort Myers

      Income-producing commercial portfolio with redevelopment potential in central Fort Myers.
      1940 Suwanee Ave, Fort Myers, FL 33901
      View Details
    • New
      $665,665
      Pending

      New Retail Plaza Investment Opportunity

      Newly built retail plaza with strong tenants and attractive returns.
      8156 Alico Rd, Fort Myers, FL 33912
      View Details
    • New
      $3,500,000
      7,231 SF

      Fort Myers Medical/General Office

      7,231 sq ft medical/general office space for sale.
      3822 Broadway, Fort Myers, FL 33901
      View Details
    • $349,900
      0.36 Acres

      Fort Myers Warehouse with Office

      Warehouse with private office, gated access, near airport and I-75.
      3560 Work Dr, Fort Myers, FL 33916
      View Details
    • $684,140
      1,545 SF

      New Retail Units in Fort Myers

      Modern retail units in a high-growth area with excellent visibility.
      8156 Alico Rd, Fort Myers, FL 33912
      View Details
    • $684,140
      1,545 SF

      New Retail Units in Fort Myers

      Modern retail units in high-growth area with excellent visibility.
      8156 Alico Rd, Fort Myers, FL 33912
      View Details
    • $684,140
      1,545 SF

      New Retail Units in Plaza

      Modern retail units in high-growth area near I-75.
      8156 Alico Rd, Fort Myers, FL 33912
      View Details
    • $675,000
      2,384 SF

      Renovated Office/Medical Building in Midtown

      Renovated 2,384 SF office/medical building with multi-tenant potential.
      2080 Collier Ave, Fort Myers, FL 33901
      View Details
    • $395,000
      0.46 Acres

      Fort Myers Commercial Condo

      Multi-tenant industrial office condo with showroom and warehouse space.
      12165 Metro Pkwy, Fort Myers, FL 33966
      View Details
    • $95,000

      Profitable Smoothie, Tea, Coffee Business

      Turnkey business in high-traffic shopping center with loyal customer base.
      10021 Gulf Center Dr, Fort Myers, FL 33913
      View Details

    FAQs

    What type of property is this?
    Land - 9.51 Acres, Prime Location, RPD Zoning
    Where is this land located?
    The property is located at 11941 Penzance Blvd Fort Myers, FL.
    What are key features of this property?
    This property features: 2.5 miles to Daniels Parkway; 3.4 miles to Gulf Coast Medical Center; 4.2 miles to Page Field Airport
    (239) 565-3456 Call to check price and availability
    Request Owner's contact information
    11941 Penzance Blvd Fort Myers, FL 33912
    Message sent successfully
    Error
    If you are the owner or broker of this property and would like to edit or remove this listing please send a message to web site administrator.
    11941 Penzance Blvd
    Fort Myers, FL 33912
    Message sent successfully
    Error
    Email to Your Friends
    Link copied to clipboard
    Separate multiple addresses with a comma
    Message sent successfully
    Error

    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.

    More about this property
    11941 Penzance Blvd Fort Myers, FL 33912
    Thanks! Your message was sent.
    Error! Your message wasn't sent.
    Please enter your name
    Please enter email
    Please enter the email in the correct format
    Please enter phone
    Please enter the number in the correct format
    Please enter message
    Thank You

    You are Unsubscribed From Notifications

    We can help!
    Contact for Pricing
    Please call us for current price
    and status of this listing Justin Thibaut
    Justin Thibaut
    Real Estate License ID: 258024058
    (239) 565-3456 (239) 489-4066
    Learn more
    Google sign-in failed. Please try again or use another login method.
    Sign Up Successful!
    You now have access to more from Realmo!