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    Bay Front Condo with Boat Slip Title is generated by Realmo AI

    26235 Hickory Boulevard 4B, Bonita Springs, FL 34134

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    For Sale
    $650,000

    Updated 2BR condo with boat slip and premium parking.

    Type:Condo/Townhome
    Property size:
    1,345 SF
    Lot size:
    5.00 Acres
    Price / SF:
    $483/SF
    Added:
    Oct 10, 2023
    Days on Market:
    961
    Last Refresh:
    May 20 at 1:06 am

    Property Features for 26235 Hickory Boulevard 4B

    General Information

    Standard status
    Active
    Size
    1,345 SF
    Lot size
    5.00 Acres
    Property subtype
    Condo/Townhome

    Building Details

    Year Built
    1984

    We can help!

    Listing Contact
    Aron Hubers
    Aron Hubers

    Listing agent Aron Hubers License #251577965

    Listing office BLCS Venture Sanibel LLC

    Listing date Oct 10, 2023

    Source Exitrealty

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

    All listing content including descriptions, pricing, images are the copyrighted material of BLCS Venture Sanibel LLC

    HighLights

    • Includes a premium oversized BOAT SLIP (valued at approximately $50k).
    • Includes UNDER BUILDING PARKING (valued at approximately $50k).
    • Bay and Beach views.
    • Deeded beach access.
    • Unit has many upgrades including a redesigned kitchen and fully renovated bathrooms.
    • Bay Harbor Club has completed extensive renovations to the clubhouse, landscaping, pool, and building infrastructure.

    Overview

    This 1,345 square foot bay front unit features 2 bedrooms and 2 bathrooms. It includes an oversized boat slip (#36) and under building parking (#33) located near the south entrance of the building. The unit is located in Building 2, Stack B, a highly sought after stack at Bay Harbor Club. Upgrades include a glassed-in lanai overlooking the Hogue Channel, storm shutters on master bedroom windows, southern lanai doors and kitchen window, a redesigned kitchen, fully renovated bathrooms, built-in twin Murphy beds in the guest room (removable), and custom closets. Bay Harbor Club is a 5+ acre property situated between the beach and bay, with deeded beach access. The community has completed renovations to the clubhouse, landscaping, pool, pool deck, spas, BBQ areas, and building lobbies, including new common furniture. Both buildings have new roofs, elevator systems, diesel generators, fire suppression systems, and electrical systems. Located in Bonita Springs, Florida, this unit offers bay and beach views and an updated interior.
    Property Profile Location Intelligence

    Current Use by Public Records

    Charles Wisniewski Real Estate Agency

    Suggested Use

    Real Estate Agency Restaurant Gym & Fitness Center Hotel & Motel Bed & Breakfast Parking Lot & Garage

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

    Location Insight

    • Map
    • Local Demand
    City
    Bonita Springs
    County
    Lee
    State
    Florida
    Longitude
    -81.8559823
    Latitude
    26.3568766

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    FAQs

    What type of property is this?
    Residential income property - Updated 2BR condo with boat slip and premium parking.
    Where is this residential income property located?
    The property is located at 26235 Hickory Boulevard 4B Bonita Springs, FL.
    What is the asking price?
    The asking price for this property is $650,000.
    What are key features of this property?
    This property features: Includes a premium oversized BOAT SLIP (valued at approximately $50k).; Includes UNDER BUILDING PARKING (valued at approximately $50k).; Bay and Beach views.
    (239) 250-9300
    We can help!
    Listing Contact
    Aron Hubers
    Aron Hubers
    Real Estate License ID: 251577965
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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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