# 588/590 Palermo Cir, Fort Myers Beach, FL

> This Residential Income listing has 11 Beds, 7 Full Baths, 1 Half Bath. Schedule a showing for 588/590 Palermo Cir in Fort Myers Beach, FL.

- Price: $3,799,000
- Status: Active
- Property Type: Residential Income
- MLS ID: 226040294
- Features: 11 Beds, 7 Full Baths, 1 Half Bath
- Photo: https://dvvjkgh94f2v6.cloudfront.net/7487d661/66272352/83dcefb7.jpeg?updated=1794520319

## 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.

## Attribution

The data relating to real estate for sale displayed on this Website comes in part from the Broker Reciprocity Program (BR Program) of
  Naples Area Board of REALTORS®, under License No. NPLSMLS-100139.
  Properties listed with brokerage firms other than North 2 South Realty International Inc are marked with the "BR House" logo.
  Detailed information about such properties includes the name of the brokerage firm with which the seller has listed the property.
  The properties displayed may not be all the properties listed with brokerage firms participating in the Naples Area Board of REALTORS®.
  BR Program, or contained in the database compilation of the Naples Area Board of REALTORS®.


Naples Area Board of REALTORS® data last updated on November 13, 2026 03:02 AM - ET

Property last updated: November 13, 2026 03:02 AM - ET.