Commercial Land with Existing
For Sale
$4,999,999
17650 San Carlos Boulevard, Fort Myers Beach, FL 33931
CommercialSale, Fort Myers Beach, FL
Property Size14,000 SF
Lot Size3.51 Acres
Price / SF$357.14
Days on Market83
Property Features for 17650 San Carlos Boulevard
General Information
Property type
Commercial Sale
Property subtype
Retail
Zoning description
C-2
Directions
GPS
Subdivision
FM12 - Fort Myers Area
Standard status
Active
APN
07-46-24-00-00013.1030
Lot size
3.51 Acres
Taxes and HOA fees
Tax Year
2025
Tax Description
PARL IN E 1/2 OF SW 1/4 DESC IN OR 3223 PG 4138 LES R/W OR 2596 PG1176
Tax Annual Amount
41733
Legal Description
PARL IN E 1/2 OF SW 1/4 DESC IN OR 3223 PG 4138 LES R/W OR 2596 PG1176
Building Details
Year built
2006
Floors in Building
1
Listing Agency:
ERA Right Choice Realty · ERA Real Estate
(239) 333-2378
Listed By:
Mark Vancosky · License #258023771
(570) 687-3271
Added: Jun 18
Changed: Sep 4
Last Checked: Sep 8 at 2:06AM
MLS# 2026026808
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.
Investment Insights
Based on property information with market context.
This commercial land offering includes 3.506 acres and an existing 14,000 square-foot building completed in 2006. The improvements feature open-air center space, restaurant areas, and kitchens, providing an established physical base for redevelopment or reuse. Zoning supports commercial, retail, and restaurant applications, while the property’s development framework allows for 21 units, subject to further study and permitting.
The site fronts San Carlos Boulevard for 635 feet in Fort Myers Beach and is positioned on the route toward the beach destination. Margaritaville is identified as a nearby tourist attraction. An additional 2.3 acres of adjoining property is also available separately, offering a potential expansion area for a larger development plan.
The site fronts San Carlos Boulevard for 635 feet in Fort Myers Beach and is positioned on the route toward the beach destination. Margaritaville is identified as a nearby tourist attraction. An additional 2.3 acres of adjoining property is also available separately, offering a potential expansion area for a larger development plan.
Key Highlights
- 3.506‑acre commercial land parcel in Fort Myers Beach
- 635 feet of frontage on San Carlos Blvd.
- Existing 14,000 square‑foot building with open‑air center 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
$222,264
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
4.45%
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%
$4,445,280
$4.4M
Cap Rate 7%
$3,175,200
$3.2M
Cap Rate 9%
$2,469,600
$2.5M
Market Conditions
NOI Build-Up for 14,000 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
$302.4K $21.60/SF
− Vacancy
−$6.0K −$0.43/SF
EGI
$296.4K $21.17/SF
− OpEx
−$74.1K −$5.29/SF
NOI
$222.3K $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%
$4,445,280
Cap Rate 7%
$3,175,200
Cap Rate 9%
$2,469,600
Alternative Uses
Best Use
Specialty Retail
$3.18M
$2.78M – $3.70M
NOI $222,264 @ 7.0% cap · market cap 4.45%
Second Best
Retail
$2.62M
$2.30M – $3.06M
NOI $183,656 @ 7.0% cap · market cap 3.67%
Theoretical Best
Office A
$4.41M
$3.86M – $5.14M
NOI $308,448 @ 7.0% cap · market cap 6.17%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
Yes
Paved road access
Location Intelligence
Trade Area within ½ mile
275
Businesses Nearby
5k
Monthly Visits Nearby
Explore this area
Business Placement
Foot Traffic Nearby
Apparel 60%
Shops & Services 21%
Dining 20%
Surf Style 142
Apparel
3,109 visits/mo
0.1 miles
Napa Auto Parts
Shops & Services
1,082 visits/mo
0.4 miles
Domino's Pizza
Dining
1,028 visits/mo
0.4 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?
Commercial land - Commercially zoned tract with an existing open-air center, restaurant areas, and kitchens near Fort Myers Beach.
Where is this commercial land located?
The property is located at 17650 San Carlos Boulevard Fort Myers Beach, FL.
What is the asking price?
The asking price for this property is $4,999,999.
What are key features of this property?
This property features: 3.506‑acre commercial land parcel in Fort Myers Beach; 635 feet of frontage on San Carlos Blvd.; Existing 14,000 square‑foot building with open‑air center space
