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    Buckingham Airpark Land Package Title is generated by Realmo AI

    6871 Cherokee Avenue, Fort Myers, FL 33905

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    For Sale
    $375,000

    LAND - Fort Myers, FL

    Lot size:
    0.41 Acres
    Added:
    Mar 22, 2026
    Days on Market:
    78
    Last Refresh:
    Jun 7 at 5:06 pm

    Property Features for 6871 Cherokee Avenue

    General Information

    Property type
    Land
    Property subtype
    Other
    Zoning
    AG-2
    Standard status
    Active
    APN
    164426l3090000020
    Lot size
    0.41 Acres

    Taxes and HOA fees

    Tax Year
    2025
    Tax Description
    SHELTON FISHER AS DESC IN INST #2018000203737 LOT 2
    Tax Annual Amount
    894

    Utilities

    Utilities
    Electricity Available
    Sewer type
    Septic Tank
    Water source
    Well

    We can help!

    Listing Contact
    Melanie N Riddick

    Listing agent Melanie N Riddick License #3254639

    Listing office AV8 Realty 4905 SW 61st Drive, Palm City, FL

    Listing date Mar 22, 2026

    MLS# B26005436 Listing URL

    Copyright © 2026 BeachesMLS. All rights reserved. All information provided by the listing agent/broker is deemed reliable but is not guaranteed and should be independently verified.

    HighLights

    • Rare opportunity: Two adjacent, cleared, and level lots in Buckingham Airpark.
    • Direct access to a private, well‑maintained 4,000‑foot concrete airstrip (FL59).
    • Prime location: Convenient access to I‑75, grocery stores, Southwest Florida International Airport (RSW), and downtown Fort Myers.
    • Ready to build your custom dream home or pilot's paradise with hangar potential.
    • Located in a safe, established, low‑density community with a rich aviation heritage.
    • Close proximity to beautiful Gulf beaches (Fort Myers Beach).

    Overview

    Located in the Buckingham Airpark community of Fort Myers, Florida, two adjacent lots are being sold as a package. The lots, located at 6871 Cherokee Avenue (0.41 acres) and 6850 North Drive, offer a chance to secure side-by-side parcels in an aviation-inspired neighborhood of 50 single-family homes. Both lots are fully cleared, level, and ready to build, suitable for a custom home or a pilot's residence with access to the community's private airstrip (FL59). The historic Buckingham Airpark features a 4,000-foot concrete runway (14/32), suitable for aviation enthusiasts, while offering a family-friendly atmosphere with spacious lots and a heritage on the site of a former WWII gunnery school. Interstate 75 is a short drive away, providing access to Naples, Tampa, and other locations. Grocery stores, including Publix Super Markets, Walmart on Colonial Boulevard, and Key Food Fresh Supermarket, are within 4-5 miles. Southwest Florida International Airport (RSW) is approximately 6 miles north, with Page Field (FMY) also nearby. Downtown Fort Myers, with dining, shopping, arts, and entertainment, is an easy commute. Gulf beaches, including Fort Myers Beach, are about 29-30 miles away. This offering in Buckingham Airpark delivers value in a community with low density and possibilities for a private retreat, an investment property, or a fly-in home with hangar potential.
    Property Profile Location Intelligence

    Current Use by Public Records

    Residential land & home ...

    Suggested Use

    Real Estate Agency Law Firm Auto Repair Shop Gym & Fitness Center Auto Parts Store Kitchen & Bath Showroom Grocery & Convenience Store Food Market HVAC Service Discount Store

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

    Location Insight

    • Map
    • Local Demand
    City
    Fort Myers
    County
    Lee
    State
    Florida
    Longitude
    -81.7123604
    Latitude
    26.6447021

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    FAQs

    What type of property is this?
    Residential land & home lot - Two adjacent cleared lots in aviation community, Fort Myers.
    Where is this residential land & home lot located?
    The property is located at 6871 Cherokee Avenue Fort Myers, FL.
    What is the asking price?
    The asking price for this property is $375,000.
    What are key features of this property?
    This property features: Rare opportunity: Two adjacent, cleared, and level lots in Buckingham Airpark.; Direct access to a private, well‑maintained 4,000‑foot concrete airstrip (FL59).; Prime location: Convenient access to I‑75, grocery stores, Southwest Florida International Airport (RSW), and downtown Fort Myers.
    (772) 888-0747
    We can help!
    Listing Contact
    Melanie N Riddick
    Real Estate License ID: 3254639
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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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