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239-896-3437
Real Estate Company
588/590 Palermo Cir, Fort Myers Beach, FL 33931
- $3,799,000
- 11
- BD
- 7.5
- BA
- List Price
- $3,799,000
- Listing Price
- $3,799,000
- Days on Market
- 0
- MLS#
- 226040294
- Development
- Venetian Gardens
- Building Design
- See Remarks
- County
- Lee
- Region
- FB02 - Crescent Street to Gulf B
- Development
- Venetian Gardens
- Subdivision
- Venetian Gardens
- Year Built
- 1937
- Land SqFt
- 11,761
- Lot Size
- 11,761
- Approx. Lot Size
- 110 x 100 x 112 x 125
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.
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Additional Information
- Total Tax Bill
- $6,284
- Tax Year
- 2025
- Units
- 1
- Bathrooms
- 7.5
- Lot Description
- 3 Lots, Irregular Lot
- Lot Size
- 0.27
- Construction
- Concrete Block, Wood Frame, Stucco, Wood Siding
- Amenities
- Beach Access, No Subdivision, Non-Gated
- Windows
- Double Hung
- Exterior Features
- Courtyard
- Water
- Central
- Sewer
- Central
- Cooling
- Other
- Irrigation
- None
- Waterfront Description
- None
- Boat Access
- None
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The data relating to real estate for sale on this limited electronic display comes in part from the Southwest Florida MLS Listing Service. Properties listed with brokerage firms other than our company are marked with the BR Program Icon or the BR House Icon and detailed information about them includes the name of the Listing Brokers. The properties displayed may not be all the properties available through the BR Program. The source of this real property information is the copyrighted and proprietary database compilation of the participating Southwest Florida MLS organizations and is Copyright 2026 Southwest Florida MLS organizations. All rights reserved. The accuracy of this information is not warranted or guaranteed. This information should be independently verified if any person intends to engage in a transaction in reliance upon it. Some properties that appear for sale on this limited electronic display may no longer be available. Data last updated .