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    Upscale Mixed-Use Development Opportunity Title is generated by Realmo AI

    20350 Summerlin Rd, Fort Myers, FL 33908

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    23-acre site approved for condominium, hotel, and retail development.

    Type:Land, Mixed Use
    Lot size:
    23.00 Acres
    Added:
    Nov 10, 2025
    Days on Market:
    183
    Last Refresh:
    Mar 17 at 1:17 pm

    Property Features for 20350 Summerlin Rd

    General Information

    Standard status
    Active
    Lot size
    23.00 Acres
    Property subtype
    Land, Mixed Use

    We can help!

    Listing Contact
    Justin Thibaut
    Justin Thibaut

    Listing agent Justin Thibaut License #FL BK3355418

    Listing office LSI Companies

    Listing date Nov 10, 2025

    Source Crexi

    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 LSI Companies

    HighLights

    • Approved development order in hand for condominium, hotel, and retail products, allowing for quick delivery and development.
    • Entitlements for 297 residential units, retail/restaurant space, professional office, and potentially up to 200 hotel units, creating a diverse mixed‑use opportunity.
    • Enjoy sweeping 360‑degree views of Estero Bay, Pine Island Sound, the Caloosahatchee River, and Fort Myers’ Barrier Islands.
    • Proximity to world‑renowned beaches and wildlife, with quick access to necessities, entertainment, and activities.
    • LEED/WELL/ESG Platinum‑targeted design for water and resource energy efficiency, well‑being and human‑centric designs.
    • Design inspired by the Calusa civilization, integrating elevated urban planning to mitigate flood risk, storm surge, and climate challenges.

    Overview

    This 23-acre site is positioned for development as an upscale mixed-use project. The property has approved development orders in place for condominium, hotel, and retail spaces. The project includes entitlements for 297 residential units with a 220-foot height limit, retail and restaurant space, professional offices, 200 workforce housing or affordable residential units, and potentially up to 200 hotel units. The location offers views of Estero Bay, Pine Island Sound, the Caloosahatchee River, and Fort Myers’ Barrier Islands. The development's design was inspired by the Calusa civilization, integrating elevated urban planning to mitigate flood risk, storm surge, and climate challenges. The masterplan incorporates expansive terraces, aerodynamic structures, and wellness-focused spaces. The project aims to incorporate ESG (Environmental, Social, Governance) design principles, focusing on environmentally sound, socially responsible, and ethically managed buildings. The design targets LEED/WELL/ESG Platinum certification for water and resource energy efficiency, well-being, and human-centric designs. The location provides access to beaches, wildlife, entertainment, and activities.
    Property Profile Insight Report Location Intelligence

    Current Use by Public Records

    Hertz Car Rental Facility Aveda Salon by ... Hair Salon Tommy Hilfiger Outlet Store Lids Hat Shop FedEx Drop Box Postal Service

    Suggested Use

    Restaurant Real Estate Agency Building Supply Spa & Massage Center Big Box & Wholesale Store Auto Repair Shop Hair Salon Nail Salon Gym & Fitness Center 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
    -81.973876
    Latitude
    26.4947061

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    FAQs

    What type of property is this?
    Commercial land - 23-acre site approved for condominium, hotel, and retail development.
    Where is this commercial land located?
    The property is located at 20350 Summerlin Rd Fort Myers, FL.
    What are key features of this property?
    This property features: Approved development order in hand for condominium, hotel, and retail products, allowing for quick delivery and development.; Entitlements for 297 residential units, retail/restaurant space, professional office, and potentially up to 200 hotel units, creating a diverse mixed‑use opportunity.; **Enjoy sweeping 360‑degree views** of Estero Bay, Pine Island Sound, the Caloosahatchee River, and Fort Myers’ Barrier Islands.
    (239) 565-3456 Call to check price and availability
    We can help!
    Contact for Pricing
    Please call us for current price
    and status of this listing Justin Thibaut
    Justin Thibaut
    Real Estate License ID: FL BK3355418
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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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