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Property profile & analytics
OFF-MARKET
Estimated value
$7,230,000
Warehouses
11400-550 Gladiolus Dr Fort Myers, FL 33908
Entity Owned
12-yr Hold
Free & Clear
Property ID
US18-4974354
Property profile
Verified
Property type
Warehouses
Use group
MINI-WAREHOUSE, STORAGE
Year built
2002
Construction
STEEL FRAME
Total area
31,368 SF
Lot
4.06 ac (176,742 SF)
Zoning code
CPD CPD CPD
APN
31-45-24-00-00009.0100
UPID
US18-4974354
Cap rate & NOI
Priority signal for investors
Implied cap rate, NOI & suggested price
Cap rate vs submarket · NOI estimate · 3 price anchors
Implied cap rate, NOI & suggested price
Cap vs submarket · NOI estimate · 3 price anchors
Value estimations
Realmo proprietary · 4 methods
AI Approach
AI
by Request
CAP Approach
CAP
$5.09M
Comparable Approach
Comparable
$8.53M
Blend (final)
Blend
$7.23M
Owner & transaction history
Cubesmart LP · 12 yrs held
Cubesmart LP
since 2014
3 recorded transactions
Zoning & alternative use
CPD CPD CPD · Fort Myers, FL
Permitted uses
Permitted uses
Allowed · conditional · prohibited
Top alternative use upside
Commercial (general)
$11.3M
+65.9%
Office building
$9.1M
+34.1%
Medical building
$8.3M
+22.8%
Cap rate
Implied · in-place · derived from last sale + estimated NOI
Implied Cap rate
#1
Implied · in-place · NOI ÷ last sale
In-place · derived from last sale + estimated NOI
Cap rate, NOI & submarket benchmark
Implied cap rate vs Fort Myers submarket · NOI estimate · Typical band, median & reading
Implied cap rate, NOI & submarket benchmark
Cap vs Fort Myers submarket · NOI estimate · typical band, median & reading
Refine your cap rate
8-question underwriting flow
1.
Property current status — Going-In vs Stabilized
2.
Price for denominator — asking / offer / market
3.
Leasing status & lease structure (NNN / Gross)
4.
Tenant risk profile & vacancy assumption
5.
Upload T12 / rent roll / OM (optional)
Refine in 60 seconds, get exact suggested price
T12 upload · Submarket benchmarks · Sensitivity grid
Suggested price · 3 cap rate anchors
Income approach @ 5% / 7% / 9% — aggressive / typical / conservative
Suggested price at 5% / 7% / 9% cap
Aggressive / typical / conservative · Implied $/SF per anchor · Sensitivity grid
Suggested price at 5% / 7% / 9% cap
Aggressive / typical / conservative · implied $/SF · sensitivity
Value
AI, CAP & Alternative Use estimations · Realmo proprietary blendValue Estimations
Based on Realmo’s proprietary methodology
AI Approach
Method
Estimation
Statistic approach
by Request
ML approach
by Request
CAP Approach
CAP Return
Estimation
6%
$5,515,000
6.5%
$5,090,000
7%
$4,725,000
Alternative Use
Use
Estimation
WAREHOUSE, STORAGE
$6,785,000
Current use
COMMERCIAL (GENERAL)
$11,255,000
Change: +66% · Conversion: Difficult
OFFICE BUILDING
$9,100,000
Change: +34% · Conversion: Difficult
MEDICAL BUILDING
$8,335,000
Change: +23% · Conversion: Difficult
RETAIL STORES
$8,170,000
Change: +20% · Conversion: Moderate
NEIGHBORHOOD: SHOPPING CENTER
$7,415,000
Change: +9% · Conversion: Moderate
Blend value · Realmo final
$7.23M
Range $6.51M – $7.95M · ±10%
Realmo estimate · informational only.
These numbers are calculated by our models from public records and may not reflect actual market value.
Not an appraisal.
Verify with a licensed appraiser before transacting. Realmo accepts no liability for divergence from real-world outcomes.
View the full estimation — every method, every assumption
Confidence drivers & risk notes · Custom comparable set · Free for first 3 / day
Full estimation methodology
Every method · every assumption · confidence drivers
Price per SF
Sale + rent benchmarks
Subject property
$230 / SF
Submarket sale & rent benchmarks
Median sale $/SF · Asking & closed rent · Submarket vacancy
Submarket sale & rent benchmarks
Median sale $/SF · asking & closed rent · submarket vacancy
Property tax & assessments
Tax year 2023Property tax & assessments
Tax year 2023
Tax billed
$164,136
Tax year 2023
Assessed value
$19,019,943
Assessed 2023
Previous assessed
$19,019,943
+0.0% YoY
Effective rate
0.86%
On assessed value
Assessed land
$1,143,979
Assessed improvement
$17,875,964
Land market value
$1,143,979
Improvement market value
$17,875,964
Total market value
$19,019,943
Applied tax rate
68.0000
Comparables
6 recent transactions · within 1.5 miComparable in this city
6 recent transactions
Comparable in this City
Similar Nearby for Sale
Similar Nearby for Lease
Recent comparable sales
Sale price & price/SF · Sale date & distance · Adjustments & confidence
Recent comparable sales
Sale price & $/SF · sale date & distance · adjustments
Property description
Physical attributes from public recordsBuilding & lot
Public records
Property type
Warehouses
Use group
MINI-WAREHOUSE, STORAGE
Status
Off-Market
Year built
2002
Construction
STEEL FRAME
Heating
FORCED AIR
Cooling
AC.PACKAGE
Buildings
4
Stories
2
Total area
31,368 SF
Lot
4.06 ac (176,742 SF)
Zoning code
CPD CPD CPD
APN
31-45-24-00-00009.0100
UPID
US18-4974354
Jurisdiction
LEE
Zoning & alternative use
CPD CPD CPD · Fort Myers, FL
Zoning CPD CPD CPD · permitted uses
CPD CPD CPD · Fort Myers, FL
Permitted & conditional uses
Allowed uses · Special-permit conditions · Prohibited uses
Permitted & conditional uses
Allowed · special-permit conditions · prohibited
Fort Myers. Always verify with local authorities before improvements.
Alternative use value scenarios
Repositioning upside vs current use
WAREHOUSE, STORAGE Current
Est. value
$6.8M
COMMERCIAL (GENERAL)
Est. value
$11.3M
OFFICE BUILDING
Est. value
$9.1M
MEDICAL BUILDING
Est. value
$8.3M
RETAIL STORES
Est. value
$8.2M
NEIGHBORHOOD: SHOPPING CENTER
Est. value
$7.4M
WAREHOUSE, STORAGE Current
COMMERCIAL (GENERAL)
OFFICE BUILDING
MEDICAL BUILDING
RETAIL STORES
NEIGHBORHOOD: SHOPPING CENTER
Alternative use deep dive — conversion cost, permits, timeline
Conversion cost estimate · Permit path & risks · Stabilized NOI per option
Alternative use deep dive
Conversion cost · permit path · stabilized NOI per option
Building & site characteristics
From public records
Year built
2002
Construction
STEEL FRAME
Heating
FORCED AIR
Cooling
Yes
Stories
2
Buildings
4
Lot
4.06 ac
Current owner
From public records · entity-resolved
Cubesmart LP
Entity
Free & Clear · 12 yrs held
Mailing address
PO BOX 320099, ALEXANDRIA, VA 22320-4099
Ownership since
2014
Owner contacts — direct phone, email, and related entities
Decision-maker phone · Verified email · Related entities & filings
Owner contacts
Email · phone · related entities
Sales History
3 recorded events · public records
Date
Price
Buyer
Seller
Deed Type
Mortgage
Jul 2, 2014
$8,250,000
Cubesmart LP
East Storesmart Gladiolus LLC
Grant Deed
—
Nov 30, 2011
$5,500,000
East Storesmart Gladiolus LLC
Fort Myers Gladiolus 503 LP
Grant Deed
—
—
—
Fort Myers Gladiolus 503
—
Deed Of Trust
related
$1,370,177 · Bridger Commercial Funding LLC
Coming soon
Costs & Benchmarks
Operating expenses, capex projections, utility benchmarks, and submarket comparables — all in one view.
Coming soon
Risks
Flood, climate, environmental, title, and tenant-concentration risk — surfaced with mitigations and source citations.
Try Rey
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“Is 15.6% cap rate sustainable?” · “Best tenant mix for BU1?” · “What’s the redev upside?”
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