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    The Largest CRE Database in the US with Over 1 Million Listings

    Playa Del Sol Blvd Fort Myers, FL 33903

    Sponsored
    For Sale
    $4,841,694

    12.35 Acres, Zoned for Multiple Uses

    Description

    Added:
    Dec 11, 2024
    Days on Market:
    420
    This exceptional 12.35-acre parcel of cleared, vacant land presents a remarkable opportunity for commercial development in the thriving North Fort Myers, Florida market. Located on Playa Del Sol Blvd, with the APN 274324L1U10235423, this property boasts a highly desirable location offering easy access to major highways, airports, and hospitals, ensuring convenient access for both employees and customers. The land is zoned to accommodate a wide array of commercial uses, including the potential for assisted living facilities and skilled nursing care. With a maximum building height of 50 feet, developers have significant flexibility in their design plans. All utilities are conveniently located at the property line, minimizing infrastructure costs and expediting the development process. Existing landscape buffers are already in place, streamlining the permitting and construction phases. Priced at $4,841,694, this property represents a compelling investment in a rapidly growing area of Lee County, Florida, with its 33903 zip code. The expansive acreage and versatile zoning make this an ideal site for a variety of commercial ventures, promising significant returns for the discerning investor. Don't miss this chance to acquire a prime piece of commercial real estate in a highly sought-after location.

    Property Features for 0 Playa Del Sol Blvd

    General Information

    Property type
    Land

    We can help!

    Listing Contact
    Carlos Acosta
    Carlos Acosta

    Learn more

    HighLights

    • $4,841,694 asking price.
    • 12.35 acres of cleared, vacant commercial land.
    • Located in North Fort Myers, FL (Lee County), on Playa Del Sol Blvd, zip code 33903.
    • Zoned for multiple commercial uses, including assisted living and skilled nursing facilities.
    • 50‑foot height limit, utilities at the property line, and landscape buffers already in place.
    • Easy access to major highways, airports, and hospitals.
    Property Profile Location Intelligence

    Current Use by Public Records

    Commercial real estate

    Map

    City
    Fort Myers
    County
    Lee
    State
    Florida
    Longitude
    -81.9046286
    Latitude
    26.7080357

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    FAQs

    What type of property is this?
    Land - 12.35 Acres, Zoned for Multiple Uses
    Where is this land located?
    The property is located at Playa Del Sol Blvd Fort Myers, FL.
    What is the asking price?
    The asking price for this property is $4,841,694.
    What are key features of this property?
    This property features: $4,841,694 asking price.; 12.35 acres of cleared, vacant commercial land.; Located in North Fort Myers, FL (Lee County), on Playa Del Sol Blvd, zip code 33903.
    (239) 823-0115
    Request Owner's contact information
    Playa Del Sol Blvd Fort Myers, FL 33903
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    Fort Myers, FL 33903
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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
    Playa Del Sol Blvd Fort Myers, FL 33903
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    We can help!
    Listing Contact
    Carlos Acosta
    Carlos Acosta
    Real Estate License ID: BK3161197
    (239) 823-0115
    Learn more
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