New search
Property profile & analytics
OFF-MARKET
Estimated value
$3,225,000
Strip malls
11931 Metro Pkwy Fort Myers, FL 33966-8376
Entity Owned
5-yr Hold
~
Est. High Equity
Property ID
US18-4844513
Property profile
Verified
Property type
Strip malls
Use group
SHOPPING CENTER, STRIP CENTER
Year built
1998
Construction
MASONRY/CONCRETE MASONRY UNITS (CMUS)
Total area
7,581 SF
Lot
1.67 ac (72,544 SF)
Zoning code
IL
APN
07-45-25-07-00000.0300
UPID
US18-4844513
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
Current use
Occupant on record · Public records
-
City Electric Supply Fort Myers Big Box & Wholesale Store
-
A-Rite Glass Hardware & Home Improvement Interior Design
-
City of Palms Jiu Jitsu Gym & Fitness Center
-
Next Level Detailing Car Wash
Value estimations
Realmo proprietary · 4 methods
AI Approach
AI
$4.11M
CAP Approach
CAP
by Request
Comparable Approach
Comparable
by Request
Blend (final)
Blend
$3.23M
Owner & transaction history
Spirit Master Funding X LLC · 5 yrs held
Spirit Master Funding X LLC
since 2020
Last sale
$3.4M
5 recorded transactions
Zoning & alternative use
IL · Fort Myers, FL
Permitted uses
Permitted uses
Allowed · conditional · prohibited
Top alternative use upside
Restaurant
$4.7M
+162.7%
Commercial (general)
$2.7M
+51.8%
Office building
$2.1M
+17.9%
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
$4,110,000
CAP Approach
CAP Return
Estimation
6%
by Request
6.5%
by Request
7%
by Request
Alternative Use
Use
Estimation
RESTAURANT
$4,710,000
Change: +163% · Conversion: Difficult
COMMERCIAL (GENERAL)
$2,720,000
Change: +52% · Conversion: Easy
OFFICE BUILDING
$2,115,000
Change: +18% · Conversion: Moderate
MEDICAL BUILDING
$2,015,000
Change: +12% · Conversion: Difficult
RETAIL STORES
$1,975,000
Change: +10% · Conversion: Easy
Blend value · Realmo final
$3.23M
Range $2.90M – $3.55M · ±10% · vs last sale $3.43M (Nov 25 2020)
Last sale anchor
$3.43M
Nov 25 2020
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
$425 / 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
$23,457
Tax year 2023
Assessed value
$1,880,316
Assessed 2023
Previous assessed
$1,630,288
+15.3% YoY
Effective rate
1.25%
On assessed value
Assessed land
$1,022,145
Assessed improvement
$858,171
Land market value
$1,022,145
Improvement market value
$858,171
Total market value
$1,880,316
Applied tax rate
47.0000
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
Strip malls
Use group
SHOPPING CENTER, STRIP CENTER
Status
Off-Market
Year built
1998
Construction
MASONRY/CONCRETE MASONRY UNITS (CMUS)
Heating
FORCED AIR
Cooling
AC.PACKAGE
Stories
1
Total area
7,581 SF
Lot
1.67 ac (72,544 SF)
Zoning code
IL
APN
07-45-25-07-00000.0300
UPID
US18-4844513
Jurisdiction
LEE
Zoning & alternative use
IL · Fort Myers, FL
Zoning IL · permitted uses
IL · 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
RESTAURANT
Est. value
$4.7M
COMMERCIAL (GENERAL)
Est. value
$2.7M
OFFICE BUILDING
Est. value
$2.1M
MEDICAL BUILDING
Est. value
$2.0M
RETAIL STORES
Est. value
$2.0M
RESTAURANT
COMMERCIAL (GENERAL)
OFFICE BUILDING
MEDICAL BUILDING
RETAIL STORES
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
1998
Construction
MASONRY/CONCRETE MASONRY UNITS (CMUS)
Heating
FORCED AIR
Cooling
Yes
Stories
1
Lot
1.67 ac
Current owner
From public records · entity-resolved
Spirit Master Funding X LLC
Entity
Mailing address
PO BOX 130206, DALLAS, TX 75313-0206
Ownership since
2020
Owner contacts — direct phone, email, and related entities
Decision-maker phone · Verified email · Related entities & filings
Owner contacts
Email · phone · related entities
Sales History
5 recorded events · public records
Date
Price
Buyer
Seller
Deed Type
Mortgage
Nov 25, 2020
$3,431,900
Spirit Master Funding X LLC
City Electric Supply Co
Grant Deed
—
May 16, 2019
—
City Electric Supply Co
—
Grant Deed
related
$340,000,000 · Suntrust Bk
Feb 4, 1998
$275,000
Yorkridge Properties INC
Brooks,donald E & Catherine M
Grant Deed
—
Apr 4, 1997
$174,400
Donald E Brooks
Rudnick,robert L
Grant Deed
—
Jan 22, 1997
$71,500
A&w Dev INC
Rudnick,robert L
Grant Deed
$224,000 · Mercantile Bank Of Naples
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
Ask anything about this address in plain English.
“Is 15.6% cap rate sustainable?” · “Best tenant mix for BU1?” · “What’s the redev upside?”
You own 11931 Metro Pkwy?
List it free. Reach 20,000 daily buyers.
We’ve already pulled the facts. Confirm photos + price and you’re live in 2 minutes.
List this address →
Full reports are paid
Unlock the full Property Analytics report
Start free for 7 days — no card required. Full owner contacts, all 4 valuations with methodology, refine flow, comparable adjustments, foot-traffic deep dive, export to PDF / CSV.
