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    10672 Colonial Blvd Fort Myers, FL 33913-8701
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    Property profile & analytics

    10672 Colonial Blvd, Fort Myers, FL 33913-8701

    View on Map
    • Drug stores
    • 16,236 SF
    • 1.74 lot acres
    Off-Market
    Last Sale Dec 5, 2022
    $5,196,500
    Property ID
    US18-9175364
    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.
    Value Estimations
    $5,160,000
    Show details
    Cap Rate Potential
    3.9%
    Drug stores
    Location Intelligence

    Current Use by Public Records

    • Nigel Hutchinson, Pharm / Pharmacy
    • Rolonda S. Qualls, PharmD / Pharmacy
    • FedEx OnSite / Postal Service / Courier Service
    • Labcorp at Walgreens / Paternity Testing Service / Medical Laboratory
    • Walgreens / Cosmetic Store

    Property Details for 10672 Colonial Blvd

    Year built
    2008
    Construction
    MASONRY/CONCRETE MASONRY UNITS (CMUS)
    Lot size
    1.74 lot acres
    Zone code
    SDA
    Property type
    Drug stores
    APN
    35-44-25-P2-00001.0060
    APU
    354425P2000010060

    Sales History

    Date Price Buyer Seller Deed Type Mortgage
    Feb 1, 2023 — Project Capricorn Fund V LLC — Deed · related $30.8M · Fifth Third Bank NA
    Dec 5, 2022 — Walgreen Co Project Capricorn Fund LLC Lease —
    Dec 5, 2022 $5,196,500 Project Capricorn Fund V LLC Walgreen Co Special Warranty Deed —
    Jul 31, 2008 $6,063,000 Walgreen Co Win-treeline Ltd Grant Deed —
    Jun 7, 2007 $2,685,000 Win-treeline Ltd 100 Treeline East LLC Deed Of Trust · related $5.6M · Regions Bank
    Dec 30, 2004 $8,000,000 Owner Name Unavailable Owner Name Unavailable Grant Deed · related $5.6M · Bay Colony-gateway INC

    Value Estimations

    based on Realmo’s proprietary methodology

    • AI approach

      Method
      Estimation
      Statistic approach
      $5,525,000
      ML approach
      $4,715,000

    • CAP approach

      CAP Return
      Estimation
      6%
      $3,550,000
      6.5%
      $3,275,000
      7%
      $3,045,000

    • Comparable approach

      Method
      Estimation
      Statistic Estimate
      $6,949,000
      Market price range: $2.25M - $6.95M
      AI Estimate
      $3,558,000
      Market price range: $742k - $3.56M

    • Alternative Use

      Use
      Estimation
      RETAIL STORES
      $4,230,000
      Current use
      COMMERCIAL (GENERAL)
      $5,825,000
      Change: +38% Conversion: Easy
      OFFICE BUILDING
      $4,890,000
      Change: +16% Conversion: Easy
      MEDICAL BUILDING
      $4,315,000
      Change: +2% Conversion: Difficult
      NEIGHBORHOOD: SHOPPING CENTER
      $3,840,000
      Change: -9% Conversion: Moderate
      WAREHOUSE, STORAGE
      $3,445,000
      Change: -19% Conversion: Difficult

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

    Location Insight

    • Map
    • Local Demand
    City
    Fort Myers
    County
    Lee
    State
    Florida
    Longitude
    -81.7804
    Latitude
    26.6122
    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
    $97,654
    $3,009,211
    $1,848,489
    $4,857,700
    -
    $3,009,211
    $1,848,489
    $4,857,700

    Comparable in this City

    • Value Estimation
      $3,435,000
      15,550 SF

      13591 Jetport Commerce Pkwy

      DRUG STORE, PHARMACY
      13591 Jetport Commerce Pkwy, Fort Myers, FL 33913-7871
      View Details
    • Value Estimation
      $9,360,000
      46,031 SF

      13101 Paul J Doherty Pkwy, Unit 121

      GROCERY, SUPERMARKET
      13101 Paul J Doherty Pkwy, Fort Myers, FL 33913-9267
      View Details
    • Value Estimation
      $950,000
      4,018 SF

      9970 Interstate Commerce Dr

      RETAIL STORES (PERSONAL SERVICES)
      9970 Interstate Commerce Dr, Fort Myers, FL 33913-8260
      View Details
    • Value Estimation
      $545,000
      6,090 SF

      13581 Goldenwood Dr

      FINANCIAL BUILDING
      13581 Goldenwood Dr, Fort Myers, FL 33913-7852
      View Details
    • Value Estimation
      $1,200,000
      5,159 SF

      17100 Ben Hl Griffin Pkwy

      FINANCIAL BUILDING
      17100 Ben Hl Griffin Pkwy, Fort Myers, FL 33913-7607
      View Details
    • Value Estimation
      $7,625,000
      4,863 SF

      17029 Centerplace Blvd

      CONVENIENCE STORE
      17029 Centerplace Blvd, Fort Myers, FL 33913-9792
      View Details

    Similar Nearby for Sale

    • Contact for pricing
      3,272 SF

      Retail Space on Corner Lot

      Retail space available on the corner of Alico Rd.
      12251 Itec Park Dr, Fort Myers, FL 33913
      View Details
    • $595,000
      0.44 Acres

      Drive-Through Garage Condo in Fort Myers

      Rare double garage condo with auto lifts in Alico ITEC Park.
      12300 Itec Park Dr, Fort Myers, FL 33913
      View Details
    • Contact for pricing
      10,485 SF

      Prime Retail Investment Opportunity

      Retail property in a thriving commercial district with high visibility.
      11940 Fairway Lakes Dr, Fort Myers, FL 33913
      View Details
    • $90,000

      Profitable Smoothie, Tea, Coffee Business

      Turnkey business in high-traffic shopping center with loyal customer base.
      10021 Gulf Center Dr, Fort Myers, FL 33913
      View Details
    • Contact for pricing
      15,376 SF

      Retail Property For Sale

      Retail property available for sale in Fort Myers, Florida.
      12252 Itec Park Dr, Fort Myers, FL 33913
      View Details

    Similar Nearby for Lease

    • Contact for pricing
      15,000 SF

      Retail Space on Colonial Boulevard

      Prime retail leasing opportunity in Fort Myers, Florida.
      10654 Colonial Blvd, Fort Myers, FL 33913
      View Details
    • Contact for pricing
      3,350 SF

      Restaurant, Retail, and Office Space

      Restaurant, retail, and office space for lease, under construction.
      11850-880 Cheeca Ct, Fort Myers, FL 33913
      View Details
    • Contact for pricing
      3,820 SF

      Former Bank at Gulf Coast

      Former bank branch available for sublease in Fort Myers.
      17810 Ben Hill Griffin Pkwy, Fort Myers, FL 33913
      View Details
    • Contact for pricing

      Retail Center at Colonial Blvd

      New retail center with high visibility and growth potential.
      10676/654 Colonial Blvd, Fort Myers, FL 33913
      View Details
    • Contact for pricing

      Retail Space Available For Lease

      Retail spaces available for lease, ranging from 1,335 to 10,970 SF.
      13630 Goldenwood Dr, Fort Myers, FL 33913
      View Details
    • Contact for pricing
      135,733 SF

      Versatile Office/Warehouse Space Available

      2,000 sq ft flex space with warehouse and roll-up door.
      12220 Towne Lake Dr, Fort Myers, FL 33913
      View Details
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    Fort Myers, FL 33913-8701
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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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