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    Property profile & analytics

    10898 Metro Pkwy Fort Myers, FL 33966-1178

    • Warehouses
    • 34,651 SF
    • 2.70 lot acres
    OFF-MARKET
    Value Estimations
    $2,970,000
    Show details
    Cap Rate Potential
    Location Intelligence
    Property ID
    US18-1304953
    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

    • Sears Logistics Services / Distribution Center / Logistics Company
    • Alpha Tile & Stone / Carpet & Flooring Store / Hardware & Home Improvement

    Property Details for 10898 Metro Pkwy

    Year built
    1997
    Construction
    STEEL FRAME
    Lot size
    2.70 lot acres
    Property size
    34,651 SF
    Zone code
    IL
    Property type
    Warehouses
    APN
    06-45-25-00-00007.0020
    APU
    6452500000070020

    Value Estimations

    based on Realmo’s proprietary methodology

    • Comparable approach

      Method
      Estimation
      Statistic Estimate
      $4,138,000
      Market price range: $4.14M - $7.12M
      AI Estimate
      $1,904,000
      Market price range: $1.15M - $5.13M

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

    Location Insight

    • Map
    • Local Demand
    City
    Fort Myers
    County
    Lee
    State
    Florida
    Longitude
    -81.8541
    Latitude
    26.5836
    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
    $33,534
    $560,683
    $2,446,436
    $3,007,119
    -
    $560,683
    $2,446,436
    $3,007,119

    Comparable in this City

    • Value Estimation
      $1,150,000
      12,000 SF

      6182 Idlewild St

      WAREHOUSE, STORAGE • 12,000 SF
      6182 Idlewild St, Fort Myers, FL 33966-1216
      View Details
    • Value Estimation
      $1,605,000
      17,550 SF

      10990 Metro Pkwy

      WAREHOUSE, STORAGE • 17,550 SF
      10990 Metro Pkwy, Fort Myers, FL 33966-1201
      View Details
    • Value Estimation
      $2,065,000
      14,671 SF

      11400 Metro Pkwy

      WAREHOUSE, STORAGE • 14,671 SF
      11400 Metro Pkwy, Fort Myers, FL 33966-1279
      View Details
    • Value Estimation
      $1,960,000
      18,705 SF

      12014 Metro Pkwy

      WAREHOUSE, STORAGE • 18,705 SF
      12014 Metro Pkwy, Fort Myers, FL 33966-8365
      View Details
    • Value Estimation
      $1,160,000
      7,975 SF

      6401 Metro Plantation Rd

      WAREHOUSE, STORAGE • 7,975 SF
      6401 Metro Plantation Rd, Fort Myers, FL 33966-1257
      View Details
    • Value Estimation
      $1,075,000
      7,561 SF

      6301 Topaz Ct

      WAREHOUSE, STORAGE • 7,561 SF
      6301 Topaz Ct, Fort Myers, FL 33966-8309
      View Details

    Similar Nearby for Sale

    • $4,300,000
      22,800 SF

      Industrial Showroom/Warehouse on Metro Parkway

      22,800 SF industrial showroom/warehouse with frontage on Metro Parkway.
      12090 Metro Pkwy, Fort Myers, FL 33966
      View Details
    • New
      $650,000
      4,002 SF

      Office and Warehouse Space

      4002 SF office/warehouse in Fort Myers, Florida.
      12155 Metro Pkwy, Fort Myers, FL 33966
      View Details
    • $3,300,000
      15,390 SF

      Fort Myers Industrial NNN Lease

      High-credit tenant, low-management investment.
      6170 Idlewild St, Fort Myers, FL 33966
      View Details
    • $3,300,000
      15,390 SF

      Fort Myers Industrial Investment Property

      NNN lease investment opportunity in central Fort Myers industrial corridor.
      6170 Idlewild St, Fort Myers, FL 33966
      View Details
    • $395,000
      0.46 Acres

      Fort Myers Commercial Condo

      Multi-tenant industrial office condo with showroom and warehouse space.
      12165 Metro Pkwy, Fort Myers, FL 33966
      View Details
    • Contact for pricing

      Flex Space/Industrial Buildings For Sale

      Two industrial buildings with flexible unit sizes available for sale.
      6193 Idlewild St, Fort Myers, FL 33966
      View Details

    Similar Nearby for Lease

    • $20 SF/Yr
      5,000 SF

      Industrial Warehouse with Outdoor Storage

      Industrial warehouse for rent with fenced and secured outdoor storage.
      6120 Idlewild St, Fort Myers, FL 33966
      View Details
    • $16 SF/Yr
      8,550 SF

      Fort Myers Warehouse For Rent

      Warehouse space available for lease in Fort Myers, Florida.
      6130 Idlewild St, Fort Myers, FL 33966
      View Details
    • $16 SF/Yr
      19,800 SF

      New Flex Building For Lease

      Newly constructed flex space with outdoor storage in Fort Myers.
      6551 Corporate Park Cir, Fort Myers, FL 33966
      View Details
    • $13 SF/Yr
      23,500 SF

      Warehouse with Showroom and Office

      23,500 SF warehouse with showroom and office space for rent.
      13080 Metro Pkwy, Fort Myers, FL 33966
      View Details
    • $20 SF/Yr
      5,568 SF

      Fort Myers Industrial Flex Space

      Industrial flex space for lease in Fort Myers, Florida.
      12741 Metro Pkwy, Fort Myers, FL 33966
      View Details
    • $16 SF/Yr
      10,000 SF

      Secured Industrial Site For Rent

      Industrial property with outdoor storage and secured, fenced perimeter.
      6110 Idlewild St, Fort Myers, FL 33966
      View Details
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    10898 Metro Pkwy
    Fort Myers, FL 33966-1178
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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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