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    13409/415 Pine Needle Ln Fort Myers, FL 33908

    Sponsored
    For Sale
    $759,000

    MULTI_FAMILY - Other - Fort Myers, FL

    Lot size:
    0.34 Acres
    Days on Market:
    17
    Last Refresh:
    Feb 5 at 11:06 pm

    Property Features for 13409/415 Pine Needle Ln

    General Information

    Property type
    Residential Multi Family
    Property subtype
    Other
    Standard status
    Active
    Rooms
    Bedroom 1, Bedroom 4, Bedroom 5, Bedroom 2, Bedroom 3, Bedroom 6, Bathroom 2, Bedroom 7, Bathroom 4, Bathroom 1, Bathroom 3, Bedroom 8
    Bedrooms
    8
    Bathrooms
    4
    APN
    02-46-23-04-00000.0020
    Pets allowed
    Call
    Exterior features
    Fence
    Fencing
    Fenced
    Lot size
    0.34 Acres

    Utilities

    Sewer type
    Public Sewer
    Heating system
    Electric (Heating), Central
    Cooling system
    Electric, Central Air
    Water source
    Public

    Building Details

    Year built
    1980
    Floors in Building
    2
    Number of units
    4
    Flooring type
    Tile, Vinyl, Carpet
    Building materials
    Block, Concrete, Stucco
    Roof type
    Shingle
    Architectural style
    Other
    Additional Structures
    Outbuilding

    We can help!

    Listing Contact
    Beth Barton

    Coastal Brokerage LLC (239) 437-3258

    Listing agent Beth Barton (419) 351-1258 License #258028723

    Listing date Jan 20, 2026

    MLS# 2025019650

    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.

    Learn more

    Property Insight Report

    Overview

    Updated Quadplex Near Sanibel Beaches

    This updated quadplex is located minutes from Sanibel Island and the area's beaches. The property features four units, each with 2 bedrooms and 1 bathroom, and is fully occupied with long-term renters. The property is not in an HOA. The lower two units were renovated in 2022 with coastal-inspired tile plank flooring, fresh drywall and insulation, updated electrical, updated baseboards, and light interior paint. The kitchens on the lower level have been refreshed with modern appliances, updated cabinetry, granite countertops, and fixtures. The upper left unit underwent a complete remodel in 2021, including a fully updated bathroom, new kitchen cabinets with granite countertops, new range, microwave, refrigerator, kitchen LVP flooring, new carpet, updated electrical, modern fixtures, and fresh paint. The upper right unit has a new roof installed in 2023 and all HVAC replacements in 2021, 2023, and 2024. The front and rear lanais were rebuilt in 2023 with new framing and screens. A fenced-in backyard includes an owner's shed. The lot size is 0.34 acres.
    Property Profile Insight Report Location Intelligence

    Current Use by Public Records

    Quadplexes

    Suggested Use

    Real Estate Agency Restaurant Spa & Massage Center Hair Salon Nail Salon Building Supply Gym & Fitness Center Accounting Firm Skin Care Clinic Pharmacy

    Zoning and permitted uses should be independently verified with local authorities.

    Location Insight

    • Map
    • Local Demand
    City
    Fort Myers
    County
    Lee
    State
    Florida
    Longitude
    -81.977328
    Latitude
    26.499044

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    FAQs

    What type of property is this?
    Quadplex - Updated quadplex near Sanibel beaches, offering immediate and reliable income.
    Where is this quadplex located?
    The property is located at 13409/415 Pine Needle Ln Fort Myers, FL.
    What is the asking price?
    The asking price for this property is $759,000.
    What are key features of this property?
    This property features: - Impressive 7.1% Cap Rate offers strong cash flow.; - Located minutes from Sanibel Island and pristine beaches.; - Fully occupied with long-term renters, providing immediate and reliable income.
    (419) 351-1258
    Request Owner's contact information
    13409/415 Pine Needle Ln Fort Myers, FL 33908
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    Fort Myers, FL 33908
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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
    13409/415 Pine Needle Ln Fort Myers, FL 33908
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    We can help!
    Listing Contact
    Beth Barton
    Real Estate License ID: 258028723
    (419) 351-1258
    Learn more
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