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EXP REALY LLC
588/590 Palermo Circle, Fort Myers Beach, FL 33931
- $3,799,000
- 11
- BD
- 8
- BA
- 4,080
- SqFt
- List Price
- $3,799,000
- Status
- ACTIVE
- MLS#
- 226040294
- Bedrooms
- 11
- Bathrooms
- 8
- Half-baths
- 1
- Living Area
- 4,080
- Development
- Venetian Gardens
- Subdivision
- Venetian Gardens
Property Description
6.77% CAP RATE AT THE LIST PRICE! 7 TURNKEY ISLAND RENTALS. ONE COMPELLING, CASH-FLOWING INVESTMENT. WELCOME TO PALERMO PARADISE! AN ESTABLISHED SHORT-TERM RENTAL OPERATION WITH DOCUMENTED INCOME AND FUTURE RESERVATIONS ALREADY IN PLACE—INVEST YOUR MONEY WHERE THE BOOKINGS ARE! BEAUTIFULLY AND FULLY UPDATED ACCOMMODATIONS WITH 11 BEDROOMS AND 7½ BATHS! YOUR GUESTS CAN UNPACK, UNWIND, AND WALK TO THE BEACH, RESTAURANTS, SHOPPING, NIGHTLIFE, THE PIER AREA, AND ICONIC FORT MYERS BEACH ATTRACTIONS! AMPLE PRIVATE OFF-STREET PARKING MAKES ARRIVAL EASY—AND THIS WALKABLE ISLAND LOCATION MAKES LEAVING THE CAR BEHIND EVEN EASIER! Buy the business behind the beach days. Seven beautifully updated island rentals. Documented rental income. Cash flow already underway. Palermo Paradise is a turnkey, operating investment offering a 6.77% CAP rate at the list price—and a compelling reason to take a closer look. Guests walk to the beach, The Whale, Margaritaville, shopping, nightlife, and the pier area. Back at the property, a shared heated pool, lounge seating, and outdoor dining keep the vacation going. Ample private off-street parking makes arrival easy. Located at 584/586 AND 588/590 Palermo Circle, this assemblage includes four buildings on approximately one-quarter acre. Three one-bedroom cottages and four two-bedroom rentals provide 11 bedrooms and 7½ baths. Remodeled between 2024 and 2026, the turnkey interiors feature contemporary coastal décor, updated kitchens and kitchenettes, and inviting bedrooms. Stylish accommodations, a walkable location, and an established rental operation make this a solid island investment opportunity. Future reservations are already in place. Buying ahead of the coming season positions the next owner to participate in the income from those stays. Before buying elsewhere on the island, compare the rental history, condition, location, and CAP rate. Review the financials. Check the booking calendar. Tour Palermo Paradise—and see what your next investment could look like.
Additional Information
- Taxes
- $6,284
- Building Design
- Quadraplex
- Year Built
- 1937
- Community Type
- Non-Gated, None
- Construction
- Block, Other, Concrete, Stucco, Wood Siding, Wood Frame
- Living Area
- 4,080
- Acres
- 0.27
- Amenities
- Beach Rights, Beach Access
- Cooling
- Other
- Heating
- Other
- Flooring
- Tile
- Exterior Features
- Courtyard, Outdoor Grill
- Waterfront Description
- None
- Water
- Public
- Sewer
- Public Sewer
- Pool Description
- Concrete, Electric Heat, Heated, In Ground, Salt Water
- Stories
- 1
- Pets
- No
Listing courtesy of Realty One Group MVP.