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    760 San Carlos Dr Fort Myers Beach, FL 33931

    Sponsored
    For Sale
    $3,250,000

    Prime Commercial Land, Fort Myers Beach

    Description

    Added:
    Dec 11, 2024
    Days on Market:
    416
    This exceptional investment opportunity presents nearly one acre of cleared and leveled commercial land in Fort Myers Beach, Florida. Located on San Carlos Island at the foot of the Matanza Pass Bridge, this 0.99-acre parcel boasts high visibility from San Carlos Boulevard, a major artery connecting Lee County to Fort Myers Beach. Previously occupied by a mobile home park, the site is currently under a one-year lease agreement with a Florida Department of Transportation contractor, generating a consistent income stream while ensuring site maintenance. The C-1 zoning allows for diverse development options, including commercial ventures, hotel/resort projects, or multi-family residential uses. With approximately 190 feet of frontage on San Carlos Drive and 170 feet on Fisherman's Wharf, and two access roads, this property offers unparalleled access and exposure. Its proximity to the San Carlos Bay waterfront and a luxury yacht service center further enhances its appeal. The site is within walking distance of Fort Myers Beach and provides easy access to Sanibel Island, Captiva Island, and mainland Fort Myers. Future land use designations permit residential densities up to 15 units per acre with bonus density approvals. This presents a unique chance to participate in the revitalization of Southwest Florida's barrier islands, capitalizing on the region's burgeoning tourism sector. The asking price is $3,250,000. An adjacent 1.29-acre parcel with C-1 zoning is also available. The property's APN is 24-46-23-01-00007.0090.

    Property Features for 760 San Carlos Dr

    General Information

    Property type
    Land
    Lot Size
    43,124 SF

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    Listing Contact
    Alec Burke
    Alec Burke

    Learn more

    Property Insight Report

    HighLights

    • Rare opportunity to acquire nearly 1 acre of highly visible commercial land at the entrance to Estero Island (Fort Myers Beach).
    • Future land use allows up to 15 units per acre with bonus density approvals.
    • Two access roads, approximately 190 feet of frontage on San Carlos Drive and 170 feet on Fisherman's Wharf.
    • Walking distance to Fort Myers Beach, with easy access to Sanibel and Captiva Islands and mainland Fort Myers.
    • Adjacent 1.29‑acre parcel with C‑1 zoning also available.
    • Short‑term lease generates income to offset holding costs.
    Property Profile Location Intelligence

    Current Use by Public Records

    Commercial real estate

    Suggested Use

    Law Firm Realty agency Restaurant Spa & Massage Nail Salon Building Supply Clothing Store Gym & Fitness Auto Repair Shop Accounting Firm

    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
    -81.952784272698
    Latitude
    26.46061865308

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    FAQs

    What type of property is this?
    Land - Prime Commercial Land, Fort Myers Beach
    Where is this land located?
    The property is located at 760 San Carlos Dr Fort Myers Beach, FL.
    What is the asking price?
    The asking price for this property is $3,250,000.
    What are key features of this property?
    This property features: Rare opportunity to acquire nearly 1 acre of highly visible commercial land at the entrance to Estero Island (Fort Myers Beach).; Future land use allows up to 15 units per acre with bonus density approvals.; Two access roads, approximately 190 feet of frontage on San Carlos Drive and 170 feet on Fisherman's Wharf.
    (239) 489-4066
    Request Owner's contact information
    760 San Carlos Dr Fort Myers Beach, FL 33931
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    Fort Myers Beach, FL 33931
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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.

    More about this property
    760 San Carlos Dr Fort Myers Beach, FL 33931
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    We can help!
    Listing Contact
    Alec Burke
    Alec Burke
    Real Estate License ID: SL3548362
    (239) 489-4066
    Learn more
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