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    The Largest CRE Database in the US with Over 1 Million Listings
    Property profile & analytics

    1005 Estero Blvd Fort Myers Beach, FL 33931-2623

    • Commercial land
    • 951 SF
    • 0.04 lot acres
    OFF-MARKET
    Last Sale
    May 01, 2025
    $1,500,000
    Value Estimations
    $1,420,000
    Show details
    Cap Rate Potential
    Location Intelligence
    Property ID
    US18-0812387
    The Realmo ID is a unique identifier assigned to every property, incorporating country codes and precise geo-coordinates for 300x300-foot land blocks. It enables standardized data collection and seamless integration of disparate sources such as ownership, tax, title data and physical specifications. By aggregating current and historical records, the Realmo ID powers advanced analytics and delivers deep, verifiable insights for real estate professionals.

    Current Use by Public Records

    • Yo! Taco / Mexican Restaurant / Fast Food Restaurant

    Property Details for 1005 Estero Blvd

    Year built
    1956
    Construction
    MASONRY/CONCRETE MASONRY UNITS (CMUS)
    Lot size
    0.04 lot acres
    Property size
    951 SF
    Zone code
    DOWNTOWN
    Property type
    Commercial land
    APN
    24-46-23-W3-00007.0000
    APU
    244623W3000070000

    Description

    This exceptional 1,881 square foot commercial land parcel presents a remarkable redevelopment opportunity in the vibrant Times Square district of Fort Myers Beach, Florida. Located at 1005 Estero Blvd, this property boasts breathtaking views of the Gulf of Mexico and enjoys a prime location steps from the Margaritaville Resort. The site is zoned for Downtown use, with future land entitlements already in place, allowing for a diverse range of development options including hospitality, retail, dining, and residential uses. Its convenient proximity to the beach and high pedestrian traffic ensures strong potential for a thriving business. The property's location near public parking and the heart of downtown Fort Myers Beach further enhances its appeal for a mixed-use development. With its strategic location and versatile zoning, this 1,881 sq ft lot (APN 24-46-23-W3-00007.0000) in Lee County (zip code 33931) offers significant long-term growth potential and represents a unique investment opportunity in a rapidly evolving coastal destination. The asking price is $2,400,000. This is an unparalleled chance to be part of the exciting revitalization of Fort Myers Beach.

    Value Estimations

    based on Realmo’s proprietary methodology

    • AI approach

      Method
      Estimation
      Statistic approach
      $1,390,000
      ML approach
      $1,290,000

    Get a detailed, property-specific valuation — fast and free

    Location Insight

    • Map
    • Local Demand
    City
    Fort Myers Beach
    County
    Lee
    State
    Florida
    Longitude
    -81.9559
    Latitude
    26.4532
    CBSA code
    15980
    CBSA name
    CAPE CORAL-FORT MYERS, FL METROPOLITAN STATISTICAL AREA

    Property Tax & Assessments

    Tax date
    Tax Amount
    Assessed Land Value
    Assessed Improvement Value
    Total Assessed Value
    Applied Tax Rate
    Land Market Value
    Improvement Market Value
    Total Market Value
    2023
    $3,532
    $237,947
    $0.00
    $237,947
    -
    $237,947
    $0.00
    $237,947

    Comparable in this City

    • Value Estimation
      $4,955,000
      9.08 Acres

      3001 Estero Blvd

      VACANT COMMERCIAL LAND • 9,050 SF
      3001 Estero Blvd, Fort Myers Beach, FL 33931-3618
      View Details
    • Value Estimation
      $1,400,000
      0.41 Acres

      5607 Estero Blvd

      VACANT COMMERCIAL LAND • 6,857 SF
      5607 Estero Blvd, Fort Myers Beach, FL 33931-4121
      View Details
    • Value Estimation by Request
      0.04 Acres

      1600 Estero Blvd, Unit B

      VACANT COMMERCIAL LAND • 581 SF
      1600 Estero Blvd, Fort Myers Beach, FL 33931-2847
      View Details
    • Value Estimation by Request
      0.07 Acres

      1600 Estero Blvd, Unit D

      VACANT COMMERCIAL LAND • 1,097 SF
      1600 Estero Blvd, Fort Myers Beach, FL 33931-2847
      View Details
    • Value Estimation by Request
      0.40 Acres

      Ctr C E Tropical

      VACANT COMMERCIAL LAND • 0.40 Acres
      Ctr C E Tropical, Fort Myers Beach, FL 33931
      View Details
    • Value Estimation
      $2,230,000
      0.07 Acres

      1041 3rd St

      VACANT COMMERCIAL LAND • 1,196 SF
      1041 3rd St, Fort Myers Beach, FL 33931-2644
      View Details

    Similar Nearby for Sale

    • $950,000
      Pending

      Fort Myers Beach Commercial Land

      2.30 acre commercial land parcel in Fort Myers Beach, FL.
      17570 San Carlos Blvd, Fort Myers Beach, FL 33931
      View Details
    • $749,000
      0.11 Acres

      Fort Myers Beach Land Opportunity

      Prime Fort Myers Beach lot in weekly rental zone.
      122 Miramar St, Fort Myers Beach, FL 33931
      View Details
    • $2,950,000
      0.17 Acres

      Fort Myers Beach Redevelopment Opportunity

      Commercial land near Margaritaville with mixed-use zoning and dock access.
      122 Crescent St, Fort Myers Beach, FL 33931
      View Details
    • $1,449,000
      0.28 Acres

      Oversized Corner Lot Near Beach

      0.28 acre corner lot steps from Fort Myers Beach.
      5801 Estero Blvd, Fort Myers Beach, FL 33931
      View Details
    • $949,000
      0.21 Acres

      Oversized Lot Near Times Square

      0.2097-acre lot near Times Square in Fort Myers Beach.
      180 Donora Blvd, Fort Myers Beach, FL 33931
      View Details
    • $3,999,000

      Commercial Land For Sale

      Commercial land available for sale.
      6555 Estero Blvd, Fort Myers Beach, FL 33931
      View Details

    Similar Nearby for Lease

    • Contact for pricing

      Commercial Land For Rent

      Commercial land with drive-thru opportunity in renovated plaza.
      17260 San Carlos Blvd, Fort Myers Beach, FL 33931
      View Details
    • Contact for pricing
      41,058 SF

      Fort Myers Beach Retail Plaza

      Prime Retail Space, Newly Renovated
      17284 San Carlos Blvd, Fort Myers Beach, FL 33931
      View Details
    • $20 SF/Yr
      1,452 SF

      Retail Center on San Carlos Boulevard

      Retail spaces available in renovated Fort Myers Beach shopping center.
      17260-17284 San Carlos Blvd, Fort Myers Beach, FL 33931
      View Details
    • $20 SF/Yr
      2,700 SF

      Retail Center on San Carlos Boulevard

      Retail spaces available in renovated Fort Myers shopping center.
      17264 San Carlos Blvd, Fort Myers Beach, FL 33931
      View Details
    • $40 SF/Yr
      72,333 SF

      Santini Marina Plaza: Fort Myers Beach Retail

      Prime Beachfront Retail Space Available
      7205 Estero Blvd, Fort Myers Beach, FL 33931
      View Details
    • Contact for pricing
      14,500 SF

      Freestanding Retail and Restaurant Building

      Olde Florida-style building with retail and restaurant space for lease.
      17650 San Carlos Blvd, Fort Myers Beach, FL 33931
      View Details
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    Fort Myers Beach, FL 33931-2623
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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
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