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    15630 Mcgregor Blvd Fort Myers, FL 33908

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    Pending
    $1,100,000

    Six-unit plaza with warehouse, updated and ready for retail/office.

    Property size:
    6,400 SF
    Lot size:
    0.80 Acres

    Property Features for 15630 Mcgregor Blvd

    General Information

    Standard status
    Pending
    Size
    6,400 SF
    Lot size
    0.80 Acres

    Building Details

    Year built
    1980

    We can help!

    Listing Contact
    Jessica Nolan
    Jessica Nolan
    Source: Exitrealty

    Listing Agency: Keller Williams Realty Fort Myers & the Islands Listing Agent: Jessica Nolan

    Displayed information is deemed reliable but is not guaranteed and should be independently verified.

    Learn more

    Overview

    Commercial Strip Plaza with Warehouse

    This commercial strip plaza features six units and a warehouse, totaling 6,400 square feet. Zoned CN1, the property is suitable for various retail, office, or business uses. A spacious, paved parking lot is located at the front for tenants and customers, with a large rear lot available for tenant use. Updated LED lighting with dusk-to-dawn sensors enhances security and convenience. A new sewer line was installed in 2004, and sewer clean outs were replaced in 2023. The marquis sign was replaced in 2023 after Hurricane Ian. The building exterior has been refreshed with stucco repairs, a new paint job, and new gutters installed in 2023. The roofing system was updated with a new rolled flat roof and metal mansard, inspected and finalized in 2023. New soffit vents and lighting, including a reinstalled LED parking lot light at the front, improve curb appeal and functionality. In 2024, all backflows were replaced. Each unit has been individually updated over the years to meet modern standards. Unit 101 received a new split AC unit in 2018. Unit 103 was remodeled in 2021 with new flooring, paint, and interior wall changes, followed by a new split AC unit in 2023. Unit 104 underwent an interior remodel in 2006, including electrical and plumbing upgrades. Unit 105 received a new rooftop AC system in May 2024. Unit 106 has a new AC package unit from 2015, repiped plumbing with PVC from 2019, and window films replaced in September 2023. The property is located in a high-demand area of Fort Myers near Fort Myers Beach and Sanibel. Currently, there are four tenants in place and two vacant units. The property is located at 15630 MCGREGOR BOULEVARD, FORT MYERS, FL 33908.
    Location Intelligence

    Current Use by Public Records

    Penguin Air Conditioning ... Hardware & Home Improvement Jack's Barber Shop Barber Shop E A BICYCLES (Bike/Boat/Book/etc) Store Magic Shoe Repair (Bike/Boat/Book/etc) Store S&M Jewelers Inc (Bike/Boat/Book/etc) Store

    Suggested Use

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

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

    Location Insight

    • Map
    • Local Demand
    City
    Fort Myers
    County
    Lee
    State
    Florida
    Longitude
    -81.9492662
    Latitude
    26.5145737

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    FAQs

    What type of property is this?
    Strip mall - Six-unit plaza with warehouse, updated and ready for retail/office.
    Where is this strip mall located?
    The property is located at 15630 Mcgregor Blvd Fort Myers, FL.
    What is the asking price?
    The asking price for this property is $1,100,000.
    What are key features of this property?
    This property features: - Income-generating commercial strip plaza with 6 units and a warehouse (6,400 sq ft) in a high-demand area.; - CN1 zoning allows for a variety of retail, office, or business uses.; - Significant recent updates (2023-2024) including new roof, exterior paint/stucco, gutters, LED lighting, marquis sign, backflows, and sewer clean outs.
    (239) 236-4350
    Request Owner's contact information
    15630 Mcgregor Blvd 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
    15630 Mcgregor Blvd Fort Myers, FL 33908
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    We can help!
    Listing Contact
    Jessica Nolan
    Jessica Nolan
    Real Estate License ID: 3223347
    (239) 236-4350 (239) 462-6885 (239) 744-1944
    Learn more
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