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Property profile & analytics
OFF-MARKET
Estimated value
$8,825,000
Theaters & concert halls
1380 Colonial Blvd 1400 Fort Myers, FL 33907-1015
Entity Owned
4-yr Hold
~
Est. High Equity
Property ID
US18-2981347
Property profile
Verified
Property type
Theaters & concert halls
Use group
THEATER (MOVIE)
Year built
1981
Construction
STEEL FRAME
Total area
32,623 SF
Lot
14.02 ac (610,842 SF)
Zoning code
CG
APN
02-45-24-P1-00060.0020
UPID
US18-2981347
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
-
Broadway Palm Dinner Theatre Theater & Performing Art Venue
Value estimations
Realmo proprietary · 4 methods
AI Approach
AI
$8.47M
CAP Approach
CAP
by Request
Comparable Approach
Comparable
by Request
Blend (final)
Blend
$8.83M
Owner & transaction history
Royal Palms Square LLC · 4 yrs held
Royal Palms Square LLC
since 2022
Last sale
$9.0M
6 recorded transactions
Zoning & alternative use
CG · Fort Myers, FL
Permitted uses
Permitted uses
Allowed · conditional · prohibited
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
$6,375,000
ML approach
$8,470,000
CAP Approach
CAP Return
Estimation
6%
by Request
6.5%
by Request
7%
by Request
Alternative Use
Use
Estimation
COMMERCIAL (GENERAL)
$9,570,000
Change: 0% · Conversion: Difficult
OFFICE BUILDING
$8,145,000
Change: 0% · Conversion: Difficult
AUTO REPAIR, GARAGE
$6,675,000
Change: 0% · Conversion: Difficult
Blend value · Realmo final
$8.83M
Range $7.94M – $9.71M · ±10% · vs last sale $9.00M (Jun 30 2022)
Last sale anchor
$9.00M
Jun 30 2022
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
$271 / 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
$243,562
Tax year 2023
Assessed value
$11,405,027
Assessed 2023
Previous assessed
$10,324,818
+10.5% YoY
Effective rate
2.14%
On assessed value
Assessed land
$1,568,642
Assessed improvement
$9,836,385
Land market value
$1,568,642
Improvement market value
$9,836,385
Total market value
$11,405,027
Applied tax rate
90.0000
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
Theaters & concert halls
Use group
THEATER (MOVIE)
Status
Off-Market
Year built
1981
Construction
STEEL FRAME
Heating
FORCED AIR
Cooling
AC.PACKAGE
Buildings
10
Stories
1
Total area
32,623 SF
Lot
14.02 ac (610,842 SF)
Zoning code
CG
APN
02-45-24-P1-00060.0020
UPID
US18-2981347
Jurisdiction
LEE
Zoning & alternative use
CG · Fort Myers, FL
Zoning CG · permitted uses
CG · 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
COMMERCIAL (GENERAL)
Est. value
$9.6M
OFFICE BUILDING
Est. value
$8.1M
AUTO REPAIR, GARAGE
Est. value
$6.7M
COMMERCIAL (GENERAL)
OFFICE BUILDING
AUTO REPAIR, GARAGE
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
1981
Construction
STEEL FRAME
Heating
FORCED AIR
Cooling
Yes
Stories
1
Buildings
10
Lot
14.02 ac
Current owner
From public records · entity-resolved
Royal Palms Square LLC
Entity
Mailing address
377 E BUTTERFIELD RD STE #270, LOMBARD, IL 60148-5688
Ownership since
2022
Owner contacts — direct phone, email, and related entities
Decision-maker phone · Verified email · Related entities & filings
Owner contacts
Email · phone · related entities
Sales History
6 recorded events · public records
Date
Price
Buyer
Seller
Deed Type
Mortgage
Jun 30, 2022
$9,000,000
Royal Palms Square LLC
Als Commercial II LLC
Special Warranty Deed
—
Jun 30, 2022
—
Royal Palms Square LLC
Als Commercial II LLC
Intrafamily Transfer
related
—
Aug 18, 2015
—
Als Commercial II LLC
Rsq LP
Quit Claim Deed
related
—
Aug 7, 2013
$100
Als Commercial II LLC
Rsq LP Coc
Trustees Deed
related
—
—
—
Als Commercial II LLC
—
Loan Modification
related
$3,250,000 · Lion Fin'l
—
—
Als Commercial II LLC
—
Deed Of Trust
related
$5,000,000 · Jp Morgan Chase Bk
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.
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