Your AI Navigator in Commercial Real Estate
Sign Up Successful!
You now have access to more from Realmo!
Property Lookup
    Property Lookup
    • For Sale
    • For Lease
    • Recently Sold
    • Property Lookup
    • Brokers
    AI Search
    Property profile & analytics

    793 Freemont St Fort Myers, FL 33916

    • Land
    • 1.19 lot acres
    OFF-MARKET
    Value Estimations
    Cap Rate Potential
    Location Intelligence

    Current Use by Public Records

    • Land

    Property Details for 793 Freemont St

    Lot size
    1.19 lot acres
    Property type
    Land

    Description

    This exceptional 1.19-acre (51,927 sq ft) waterfront development lot in Fort Myers, Florida, presents a unique investment opportunity. Located in the desirable Edgewood neighborhood, this fee-simple property is zoned RM-16, allowing for the construction of up to 36 residential units. The land boasts a prime location at the intersection of East Riverside Drive and Freemont Street, offering convenient access to major roadways like Palm Beach Boulevard (SR 80) and Interstate 75. Its proximity to downtown Fort Myers (1.8 miles) and Fort Myers beaches (15 miles) enhances its appeal. The area offers a wealth of amenities, including marinas, restaurants, retailers, and various services. Furthermore, the property benefits from its proximity to several colleges and universities, contributing to a strong higher education presence. The surrounding area demonstrates significant population growth, with approximately 51,000 people within a 3-mile radius and over 125,100 within 5 miles, boasting average household incomes of $69,130 and $92,076 respectively. This property's strategic location, zoning potential, and strong demographic trends make it an attractive proposition for residential development. The land value is $23.11 per square foot, and the asking price is $1,150,000. The property's quiet, rural setting near the Caloosahatchee River provides a tranquil environment while remaining conveniently close to major thoroughfares and area attractions. This presents a compelling opportunity for developers seeking a high-potential residential project in a thriving Florida market.

    Value Estimations

    based on Realmo’s proprietary methodology

    • AI approach

    • CAP approach

    • Comparable approach

    • Alternative Use

    Location Insight

    • Map
    • Local Demand
    City
    Fort Myers
    County
    Lee
    State
    Florida
    Longitude
    -81.849
    Latitude
    26.6598

    Comparable in this City

    • Value Estimation by Request

      8292 Cypress Dr

      Land
      8292 Cypress Dr, Fort Myers, FL 33916
      View Details
    • Value Estimation by Request

      2773 Ortiz Ave

      Multifamily properties
      2773 Ortiz Ave, Fort Myers, FL 33916
      View Details
    • Value Estimation by Request

      1864 Fountain St

      Land
      1864 Fountain St, Fort Myers, FL 33916
      View Details
    • Value Estimation by Request
      4.70 Acres

      Metro Pkwy

      Land • 204,732 SF
      0 Metro Pkwy, Fort Myers, FL 33916
      View Details
    • Value Estimation by Request

      3429 Willard St

      Land
      3429 Willard St, Fort Myers, FL 33916
      View Details
    • Value Estimation by Request
      20.00 Acres

      3840 Van Buren St

      Farms • 20.00 Acres
      3840 Van Buren St, Fort Myers, FL 33916
      View Details

    Similar Nearby for Sale

    • $4,000,000

      Fort Myers Multifamily Land

      72-Unit Approved Project, Shovel Ready
      2773 Ortiz Ave, Fort Myers, FL 33916
      View Details
    • $99,000

      Cypress Drive N Commercial Land

      7,375 SF Fort Myers lot, build your dream.
      8292 Cypress Dr, Fort Myers, FL 33916
      View Details
    • $850,000
      1.10 Acres

      3171 Dr Martin Luther King Jr Blvd

      Land • 1.10 Acres
      3171 Dr Martin Luther King Jr Blvd, Fort Myers, FL 33916
      View Details
    • $650,000
      0.70 Acres

      3159 Dr Martin Luther King Jr Blvd

      Land • 0.70 Acres
      3159 Dr Martin Luther King Jr Blvd, Fort Myers, FL 33916
      View Details
    • $2,295,000
      8.17 Acres

      Fort Myers Industrial Land - 8 Acres

      Prime 8-acre industrial site, ideal for outdoor storage.
      3960 Canal St, Fort Myers, FL 33916
      View Details
    • $2,000,000
      4.70 Acres

      Metro Parkway Commercial Land

      4.7 acres, prime commercial location
      0 Metro Pkwy, Fort Myers, FL 33916
      View Details

    Similar Nearby for Lease

    • Contact for pricing
      99,317 SF

      Fort Myers Industrial Land for Sale

      2.28 Acres, Heavy Industrial, Secure Yard
      3401 Old Metro Pkwy, Fort Myers, FL 33916
      View Details
    • Contact for pricing
      9 SF

      9.21 Acres IOS Land Lease

      9.21 acres of land with outdoor storage, for lease.
      Hanson St, Fort Myers, FL 33916
      View Details
    • Contact for pricing
      50,000 SF

      Fort Myers Build-to-Suit Opportunity

      IL-zoned land suitable for a custom industrial facility.
      3750 Veronica S Shoemaker Blvd, Fort Myers, FL 33916
      View Details
    • Contact for pricing
      12 SF

      Fort Myers Industrial Land Available

      Industrial land for lease or build-to-suit in Fort Myers.
      S Shoemaker Blvd And Hanson St, Fort Myers, FL 33916
      View Details
    • $5,500 /Mo

      Industrial Land Ready For Rent

      Vacant industrial land suitable for light industrial use.
      2140 Flint Dr, Fort Myers, FL 33916
      View Details
    • $13 SF/Yr
      25,000 SF

      Hanson Street Industrial Flex Space

      Versatile 5,000 SF warehouse; prime location.
      3350 Hanson St, Fort Myers, FL 33916
      View Details
    Request Owner's contact information
    Message sent successfully
    Error
    If you are the owner or broker of this property and would like to edit or remove this listing please send a message to web site administrator.
    793 Freemont St
    Fort Myers, FL 33916
    Message sent successfully
    Error
    Email to Your Friends
    Link copied to clipboard
    Separate multiple addresses with a comma
    Message sent successfully
    Error

    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
    Thanks! Your message was sent.
    Error! Your message wasn't sent.
    Please enter your name
    Please enter email
    Please enter the email in the correct format
    Please enter phone
    Please enter the number in the correct format
    Please enter message
    Google sign-in failed. Please try again or use another login method.
    Create New Password
    • At least 8 characters
    • Contains both letters and numbers
    • Contains uppercase and lowercase letters
    • At most 32 characters
    • Password required
    • Password reset link has expired. Please request a new one.