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    Waterfront Land in Fort Myers Title is generated by Realmo AI

    9980 Cypress Lake Drive, Fort Myers, FL 33919

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    Claim this Listing
    For Sale
    $1,050,000

    LAND - Fort Myers, FL

    Lot size:
    0.27 Acres
    Added:
    Jan 4, 2024
    Days on Market:
    857
    Last Refresh:
    May 10 at 11:06 am

    Property Features for 9980 Cypress Lake Drive

    General Information

    Property type
    Land
    Property subtype
    Other
    Vegetation
    Grassed
    Standard status
    Active
    Lot size
    0.27 Acres

    Taxes and HOA fees

    Tax Year
    2023
    Tax Description
    TWN + RIVER EST UNIT 7 PB 25 PG 134 POR OF LOT 229 + POR OF LOT 230 AS DESC IN INST# 2023000318110

    Utilities

    Sewer type
    Public Sewer
    Water source
    Public
    Water front features
    Canal Access, Seawall
    Water front
    1

    We can help!

    Listing Contact
    Denise Chambre

    Listing agent Denise Chambre License #258008519

    Listing office Keller Williams Realty Fort Myers and the Islands 12840 University Dr, Fort Myers, FL

    Listing date Jan 4, 2024

    MLS# 224001186 Listing URL

    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.

    HighLights

    • Direct gulf access via deep water canal.
    • Sailboat access to Intercoastal waterway.
    • Renderings available for a custom 2500 sq ft single‑story home with 3‑car garage.
    • Located in the desirable Town and River (T&R) community.
    • Underground utilities and city sewer available.
    • Opportunity to purchase the adjoining 3900 sq ft home for a combined .75 acre property with 160 sq ft of canal frontage.

    Overview

    This 0.266-acre waterfront land is located in the Town and River neighborhood of Fort Myers, Florida. The property offers direct gulf access and sailboat access, with proximity to the Intercoastal waterway. Renderings are available for a custom-designed 2500 sq ft single-story home with a 3-car garage; a larger home with a second floor could also be accommodated. Situated at the river end of Cypress Lake Drive, on the corner of Cal Cove Drive in the estate section of Town and River, the lot benefits from underground utilities and city sewer availability. The property is deed restricted, with a voluntary HOA of $160 per year. Dock specifications allow for a structure approximately 44.5 feet long and 20 feet wide, not extending beyond 20 feet into the canal, with side setbacks of 12.5 feet on each side. A boat cannot extend beyond the dock length. The seller is also considering offers on the adjoining 3900 sq ft home with 5 bedrooms, an office, and 4 full bathrooms. Combined, both parcels total 0.75 acres with 160 sq ft of canal frontage.
    Property Profile Insight Report Location Intelligence

    Current Use by Public Records

    Waterfront Land

    Suggested Use

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

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

    Location Insight

    • Map
    • Local Demand
    City
    Fort Myers
    County
    Lee
    State
    Florida
    Longitude
    -81.924227
    Latitude
    26.54545

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    FAQs

    What type of property is this?
    Waterfront Land - Deep water, direct gulf access lot in Town and River.
    Where is this waterfront land located?
    The property is located at 9980 Cypress Lake Drive Fort Myers, FL.
    What is the asking price?
    The asking price for this property is $1,050,000.
    What are key features of this property?
    This property features: Direct gulf access via deep water canal.; Sailboat access to Intercoastal waterway.; Renderings available for a custom 2500 sq ft single‑story home with 3‑car garage.
    (239) 247-2868
    We can help!
    Listing Contact
    Denise Chambre
    Real Estate License ID: 258008519
    Learn More
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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.

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