Sign Up Successful!
You now have access to more from Realmo!
    For Sale
    • For Sale
    • For Lease
    • Recently Sold
    • Property Lookup
    • Brokers
    AI Search
    Back to Search
    The Largest CRE Database in the US with Over 1 Million Listings

    459 State St, Unit 11 North Fort Myers, FL 33903

    Sponsored
    For Sale
    $55,000

    LAND - NORTH FORT MYERS, FL

    Lot size:
    0.22 Acres
    Days on Market:
    266
    Last Refresh:
    Feb 3 at 12:06 am

    Property Features for 459 State St

    General Information

    Property type
    Land
    Property subtype
    Other
    Standard status
    Active
    Vegetation
    Cleared
    Zoning
    RS-1
    APN
    34-43-24-01-00038.0110
    Lot size
    0.22 Acres

    Utilities

    Sewer type
    Septic Tank

    We can help!

    Listing Contact
    Gianni Reyes

    Sky Coastal Realty LLC. (239) 444-8298

    Listing agent Gianni Reyes (239) 444-8298

    Listing date May 14, 2025

    MLS# 224097124

    Copyright © 2026 Naples Area Board of REALTORS. 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

    Cleared Double Lot Opportunity

    This expansive double lot in North Fort Myers presents a prime opportunity, cleared of all brush and ready for residential development. Originally two separate parcels merged into one, the 0.222-acre lot offers flexibility for constructing a spacious single residence. Alternatively, the option exists to split it back into two separate lots, allowing for the construction of two homes, suitable for multi-family living or rental investments. The property is zoned RS-1. Located in a peaceful area, the property is conveniently close to local amenities. This property is ready for immediate use within this growing community.
    Property Profile Insight Report Location Intelligence

    Current Use by Public Records

    Residential land & home ...

    Suggested Use

    Real Estate Agency Law Firm Restaurant Spa & Massage Center Dental Office Hair Salon Nail Salon Building Supply Gym & Fitness Center Accounting Firm

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

    Location Insight

    • Map
    • Local Demand
    City
    North Fort Myers
    County
    Lee
    State
    Florida
    Longitude
    -81.897157
    Latitude
    26.685471

    Nearby Similar for Sale

    • $375,000
      0.24 Acres

      Updated Duplex in North Fort Myers

      Updated duplex ideal for investment or multi-generational living.
      51-55 Lake St, North Fort Myers, FL 33903
      View Details
    • $575,000
      0.32 Acres

      Spacious Duplex with Pool and Upgrades

      Unique duplex ideal for living and generating income.
      5879 Littlestone Ct, North Fort Myers, FL 33903
      View Details
    • $259,990
      0.13 Acres

      Updated Duplex in North Fort Myers

      Renovated duplex with modern amenities, ideal for investors or homeowners.
      25 Cypress St, North Fort Myers, FL 33903
      View Details
    • $1,400,000
      0.50 Acres

      Remodeled Freestanding Building on Bayshore

      Remodeled office building with high visibility and ample parking.
      6350 Bayshore Rd, North Fort Myers, FL 33917
      View Details
    • $1,999,000
      Pending

      Mobile Home Park with Upside

      24-unit mobile home park with potential for increased income.
      7760 Bogart Dr, North Fort Myers, FL 33917
      View Details
    • $48,500
      0.05 Acres

      RV Lot in Sunny Florida

      RV lot in 55+ community near beaches, shopping, and dining.
      40 La Fonda Ln, North Fort Myers, FL 33903
      View Details
    • $220,000
      0.49 Acres

      North Fort Myers Mobile Home

      Charming 3BR/2BA mobile home on a private 0.5-acre lot.
      8018 Grady Dr, North Fort Myers, FL 33917
      View Details
    • $199,500
      0.35 Acres

      North Fort Myers Triplex Investment

      Triplex in North Fort Myers with income potential.
      8281 Sevigny Dr, North Fort Myers, FL 33917
      View Details
    • $1,350,000
      3,460 SF

      Restaurant on US 41 Available

      Freestanding restaurant with drive-thru and high visibility on US 41.
      1130 N Tamiami Trl, North Fort Myers, FL 33903
      View Details
    • $225,000
      Pending

      Multi-Structure Property in North Fort Myers

      Versatile property with rental income potential in Suncoast Estates.
      7705 Mcdaniel Dr, North Fort Myers, FL 33917
      View Details
    • $1,395,000
      2,670 SF

      Move-in Ready Restaurant in North

      Restaurant property in move-in ready condition with indoor/outdoor seating.
      4400 Hancock Bridge Pkwy, North Fort Myers, FL 33903
      View Details
    • $125,000
      0.09 Acres

      Income-Producing Duplex in North Fort Myers

      Duplex with two units, carports, and community amenities.
      248 Flame Ln, North Fort Myers, FL 33917
      View Details

    FAQs

    What type of property is this?
    Land - Cleared double lot in North Fort Myers, ready for development.
    Where is this land located?
    The property is located at 459 State St, Unit 11 North Fort Myers, FL.
    What is the asking price?
    The asking price for this property is $55,000.
    What are key features of this property?
    This property features: - Expansive double lot, cleared and ready for building.; - Option to build a single residence or split back into two separate lots.; - Potential for multi-family living or rental investments.
    (239) 444-8298
    Request Owner's contact information
    459 State St, Unit 11 North Fort Myers, FL 33903
    Message sent successfully
    Error
    If you are the owner or broker of this property and would like to edit or remove this listing please send a message to web site administrator.
    459 State St, Unit 11
    North Fort Myers, FL 33903
    Message sent successfully
    Error
    Email to Your Friends
    Link copied to clipboard
    Separate multiple addresses with a comma
    Message sent successfully
    Error

    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
    459 State St, Unit 11 North Fort Myers, FL 33903
    Thanks! Your message was sent.
    Error! Your message wasn't sent.
    Please enter your name
    Please enter email
    Please enter the email in the correct format
    Please enter phone
    Please enter the number in the correct format
    Please enter message
    Thank You

    You are Unsubscribed From Notifications

    We can help!
    Listing Contact
    Gianni Reyes
    (239) 444-8298
    Learn more
    Google sign-in failed. Please try again or use another login method.