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    Fort Myers Multifamily Investment Opportunity Title is generated by Realmo AI

    2055 Braman Avenue, Fort Myers, FL 33901

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    Claim this Listing
    Pending
    $1,750,000

    MULTI_FAMILY - Other - Fort Myers, FL

    Property size:
    12,360 SF
    Lot size:
    0.49 Acres
    Added:
    Jan 29, 2026
    Days on Market:
    125
    Last Refresh:
    Jun 3 at 2:06 pm

    Property Features for 2055 Braman Avenue

    General Information

    Property type
    Residential Multi Family
    Property subtype
    Other
    Standard status
    Pending
    APN
    25-44-24-P1-0120D.0070
    Size
    12,360 SF
    Lot size
    0.49 Acres

    Taxes and HOA fees

    Tax Year
    2025
    Tax Description
    HANSON W STANLEY S/D BLK D PB 4 PG 35 DESC IN OR 1193 PG 1489
    Tax Annual Amount
    17723

    Building Details

    Year built
    1973
    Floors in Building
    2
    Architectural style
    Other

    We can help!

    Listing Contact
    Michael Stone

    Listing agent Michael Stone License #258033667

    Listing office Schooner Bay Realty, Inc. 1210 Del Prado Blvd S, FL

    Listing date Jan 29, 2026

    MLS# 2026005191

    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

    • High occupancy rate due to central location and accessibility.
    • 10 out of 14 units have been remodeled with new kitchens, baths, and tile.
    • Opportunity to increase return on investment by stabilizing rents to current market rates.
    • Additional revenue stream potential from on‑site laundry.
    • Located within the Cleveland Avenue Community Redevelopment Area (CRA), making it eligible for revitalization programs and tax‑increment funding.
    • Well‑sized multi‑family property with approximately 12,360 sq. ft. on a 0.49‑acre lot.

    Overview

    Located at 2055 Braman Ave in Fort Myers, Florida, this commercial apartment building presents an investment opportunity. Constructed in 1973, the multi-family property encompasses approximately 12,360 square feet and is situated on a 0.49-acre lot, which is approximately 21,370 square feet. The building contains 14 units, with 10 units having been remodeled to include new kitchens, baths, and tile. The property's location provides accessibility, contributing to low vacancy rates. Multi-family investors may find this an opportunity to improve returns by stabilizing rents to current market rates and capitalizing on the revenue stream from the on-site laundry. The location is within the Cleveland Avenue Community Redevelopment Area (CRA) designated by the City of Fort Myers, making it eligible for the CRA's revitalization programs and tax-increment funding.

    Local Financial Insights For Apartment 5plus

    Simulate Cap Rate and NOI

    NOI Build-Up
    Vacancy
    income lost from leasable area expected to sit empty during the year — subtracted from gross rent.
    EGI (Effective Gross Income)
    gross rent minus vacancy losses — the realistic income before paying operating costs.
    OpEx (Operating Expenses)
    recurring costs to operate the property (property tax, insurance, utilities, maintenance, management) — excludes financing and capital improvements.
    NOI (Net Operating Income)
    income a property generates after operating costs but before financing and taxes.

    Component $ $/SF
    Gross rent $287.7k $23.28
    − Vacancy −$12.1k −$0.98
    EGI $275.7k $22.30
    − OpEx −$124.0k −$10.04
    NOI $151.6k $12.27
    12,360 SF · lease $23.28/SF/yr · vacancy 4.20% · expense 45.00%

    Alternative Uses

    Best Use
    Apartment 5plus
    $2.17M
    $1.90M – $2.53M (±1% cap)
    NOI $151,611 @ 7.0% cap · market cap 8.66%
    Second Best
    —
    —
    no second resolved use
    Theoretical Best
    Office A
    $3.89M
    $3.40M – $4.54M (±1% cap)
    NOI $272,316 @ 7.0% cap · market cap 15.56%
    Zoning and permitted uses should be independently verified with local authorities.
    Property Profile Location Intelligence

    Current Use by Public Records

    Apartment buildings

    Suggested Use

    Real Estate Agency Law Firm Restaurant Spa & Massage Center Dental Office Hair Salon Nail Salon Building Supply 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
    -81.870776
    Latitude
    26.620184

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    FAQs

    What type of property is this?
    Apartment building - Remodeled 14-unit apartment building in Fort Myers, Florida.
    Where is this apartment building located?
    The property is located at 2055 Braman Avenue Fort Myers, FL.
    What is the asking price?
    The asking price for this property is $1,750,000.
    What are key features of this property?
    This property features: High occupancy rate due to central location and accessibility.; 10 out of 14 units have been remodeled with new kitchens, baths, and tile.; Opportunity to increase return on investment by stabilizing rents to current market rates.
    (239) 233-5050
    We can help!
    Listing Contact
    Michael Stone
    Real Estate License ID: 258033667
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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
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