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    Mixed-Use Downtown Property Title is generated by Realmo AI

    2251 Grand Ave, Fort Myers, FL 33901

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    New
    For Sale
    $1,290,000

    Three distinct spaces combine renovated condos with ground-floor creative/office use and a fenced parking lot.

    Type:Commercial
    Added:
    Jun 4, 2026
    Days on Market:
    5
    Last Refresh:
    Jun 6 at 3:40 am

    Property Features for 2251 Grand Ave

    General Information

    Standard status
    Active
    Property subtype
    Commercial

    Building Details

    Year Built
    1965

    We can help!

    Listing Contact
    Danielle Mazza
    Danielle Mazza

    Listing agent Danielle Mazza License #3249410

    Listing office Future Home Realty, Inc

    Listing date Jun 4, 2026

    Source Elliman

    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 Future Home Realty, Inc

    HighLights

    • 1965 mixed‑use building with three distinct income‑producing spaces: 2 renovated condo units plus ground‑floor commercial/music studio space
    • Upstairs includes a renovated 3‑bedroom, 2‑bath open‑concept condo and a renovated 2‑bedroom, 2‑bath condo
    • Ground floor is currently configured as a music studio, offering flexible commercial use for creative/office/wellness/specialty businesses
    • Fully fenced parking lot with approximately 10 dedicated parking spaces for tenants, customers, and guests
    • Property includes adjacent parcel 2109 Crawford with the sale for $1,490,000

    Overview

    This mixed-use property includes two renovated residential condominium units upstairs and a separate ground-floor space currently configured as a music studio. The residential units are described as a spacious 3-bedroom, 2-bath open-concept residence and a 2-bedroom, 2-bath unit with modern finishes. On the first level, the music studio configuration provides flexible space that can support creative professional use and other specialty business concepts.

    The property is positioned in Downtown Fort Myers and is directly adjacent to the Fort Myers Skatium, described as featuring an ice skating arena, athletic gymnasium, and fitness center. A fully fenced parking lot is included with approximately 10 dedicated parking spaces, intended to serve tenants, customers, and guests.

    For buyers and owner-users, the layout supports a combination of residential income and a commercial/creative component in one asset. The on-site parking and separate income-producing areas can help accommodate multi-tenant or live-work style operations, while the ground-floor footprint offers flexibility for a range of uses aligned with the current studio setup.
    Location Intelligence

    Current Use by Public Records

    Focus Music Academy Vocational School Social Music House Recording Studio

    Suggested Use

    Real Estate Agency Restaurant Spa & Massage Center Dental Office Law Firm 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
    -81.8703531
    Latitude
    26.635508

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    FAQs

    What type of property is this?
    Mixed-use property - Three distinct spaces combine renovated condos with ground-floor creative/office use and a fenced parking lot.
    Where is this mixed-use property located?
    The property is located at 2251 Grand Ave Fort Myers, FL.
    What is the asking price?
    The asking price for this property is $1,290,000.
    What are key features of this property?
    This property features: 1965 mixed‑use building with three distinct income‑producing spaces: 2 renovated condo units plus ground‑floor commercial/music studio space; Upstairs includes a renovated 3‑bedroom, 2‑bath open‑concept condo and a renovated 2‑bedroom, 2‑bath condo; Ground floor is currently configured as a music studio, offering flexible commercial use for creative/office/wellness/specialty businesses
    (813) 843-0218
    We can help!
    Listing Contact
    Danielle Mazza
    Danielle Mazza
    Real Estate License ID: 3249410
    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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