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    Gulf-Front Beach Development Land Title is generated by Realmo AI

    466 Estero Boulevard, Fort Myers Beach, FL 33931

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    For Sale
    $2,750,000

    Gulf-front lot in the island’s weekly rental area with beach access and redevelopment underway.

    Type:Land
    Added:
    Aug 16, 2025
    Days on Market:
    296
    Last Refresh:
    Jun 5 at 2:38 am

    Property Features for 466 Estero Boulevard

    General Information

    Standard status
    Active
    Property subtype
    Land

    We can help!

    Listing Contact
    Richard Durling

    Listing office Durling & Associates,Inc.

    Listing date Aug 16, 2025

    Source Johnrwood

    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 Durling & Associates,Inc.

    HighLights

    • Gulf‑front lot in the island’s weekly rental area on Fort Myers Beach
    • Beach access and easy in‑and‑out access from this address
    • Redevelopment underway at Paradise Point, replacing older 1960s/1970s cottages
    • New construction referenced as elevated, hurricane‑resistant, and built to current code
    • Close to Pink Shell Resort and minutes to Times Square and Margaritaville

    Overview

    This Gulf-front land parcel at Paradise Point is positioned for beach housing development. The property is described as part of an active replacement effort, where older Paradise Point Cottages from the 1960s and 1970s are being replaced with current-code, elevated, hurricane-resistant construction designed as custom beach houses.

    The site is located on the north end of Fort Myers Beach, with proximity to Pink Shell Resort and access on and off the beach from the address. Public remarks also indicate the location is in the weekly rental area of the island, supporting use for short-term rental-oriented beach homes.

    For buyers seeking a buildable Gulf-front site with a clear redevelopment direction, this parcel offers a direct path to modern beach house construction. The combination of Gulf frontage, the noted weekly rental zoning area, and beach access considerations can align well for developers and buyers planning to design elevated, hurricane-resistant custom homes intended for rental use in the area.
    Location Intelligence

    Current Use by Public Records

    Cottages of Paradise Point Vacation Rental

    Suggested Use

    Law Firm Real Estate Agency Spa & Massage Center Restaurant Nail Salon Building Supply Accounting Firm Skin Care Clinic Auto Repair Shop Kitchen & Bath Showroom

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

    Location Insight

    • Map
    • Local Demand
    City
    Fort Myers Beach
    County
    Lee
    State
    Florida
    Longitude
    -81.9634752
    Latitude
    26.4580123

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    FAQs

    What type of property is this?
    Waterfront Land - Gulf-front lot in the island’s weekly rental area with beach access and redevelopment underway.
    Where is this waterfront land located?
    The property is located at 466 Estero Boulevard Fort Myers Beach, FL.
    What is the asking price?
    The asking price for this property is $2,750,000.
    What are key features of this property?
    This property features: Gulf‑front lot in the island’s weekly rental area on Fort Myers Beach; Beach access and easy in‑and‑out access from this address; Redevelopment underway at Paradise Point, replacing older 1960s/1970s cottages
    We can help!
    Listing Contact
    Richard Durling
    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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