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    Property profile & analytics

    1502 Miramar St Cape Coral, FL 33904-9737

    • Hotels
    • 23,623 SF
    • 2.98 lot acres
    OFF-MARKET
    Last Sale
    Dec 02, 2021
    $875,000
    Value Estimations
    $890,000
    Show details
    Cap Rate Potential
    Location Intelligence
    Property ID
    US18-1352989
    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

    • Del Prado Inn Rentals / Apartment Building
    • LibertyX Bitcoin ATM / Atm
    • Tiki Hut Bar & Grill at Dolphin Key Resort / Bar & Pub / Restaurant
    • Paradise Tiki Hut Bar & Grill / Hotel & Motel
    • Dolphin Key Resort / Hotel & Motel / Resort

    Property Details for 1502 Miramar St

    Year built
    1968
    Construction
    MASONRY/CONCRETE MASONRY UNITS (CMUS)
    Lot size
    2.98 lot acres
    Property size
    23,623 SF
    Zone code
    SC
    Property type
    Hotels
    Property subtype
    Motels
    APN
    18-45-24-C2-00000.03C0
    APU
    184524C20000003C0

    Value Estimations

    based on Realmo’s proprietary methodology

    • AI approach

      Method
      Estimation
      Statistic approach
      $995,000
      ML approach
      $815,000

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

    Location Insight

    • Map
    • Local Demand
    City
    Cape Coral
    County
    Lee
    State
    Florida
    Longitude
    -81.9452
    Latitude
    26.5604
    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
    $99,507
    $1,865,367
    $5,770,493
    $7,635,860
    -
    $1,865,367
    $5,770,493
    $7,635,860

    Comparable in this City

    • Value Estimation
      $1,495,000
      4,393 SF

      4601 5th Ave

      HOTEL/MOTEL • 4,393 SF
      4601 5th Ave, Cape Coral, FL 33904-8575
      View Details
    • Value Estimation
      $6,745,000
      11,533 SF

      619 47th Ter

      HOTEL/MOTEL • 11,533 SF
      619 47th Ter, Cape Coral, FL 33904-8554
      View Details
    • Value Estimation
      $995,000
      3,464 SF

      1734 Cpe Coral E Pkwy

      HOTEL/MOTEL • 3,464 SF
      1734 Cpe Coral E Pkwy, Cape Coral, FL 33904-9620
      View Details
    • Value Estimation
      $7,425,000
      12,803 SF

      1538 Cpe Coral E Pkwy

      HOTEL/MOTEL • 12,803 SF
      1538 Cpe Coral E Pkwy, Cape Coral, FL 33904-9610
      View Details
    • Value Estimation
      $3,200,000
      7,725 SF

      3608 Del Prado S Blvd

      HOTEL/MOTEL • 7,725 SF
      3608 Del Prado S Blvd, Cape Coral, FL 33904-7139
      View Details
    • Value Estimation
      $815,000
      5,700 SF

      3608 9th Pl

      HOTEL/MOTEL • 5,700 SF
      3608 9th Pl, Cape Coral, FL 33904-4794
      View Details

    Similar Nearby for Sale

    • $9,995,000
      1.04 Acres

      Luxury Waterfront Condominium Development

      Cape Coral's new Gulf-access condominium development with deeded boat slips.
      5126 Coronado Pkwy, Cape Coral, FL 33904
      View Details
    • $2,200,000
      24,125 SF

      Prime Cape Coral Mixed-Use Redevelopment

      Downtown Cape Coral, 24,125 SF, Owner Financing
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    • $399,900
      0.23 Acres

      Cape Coral Gulf Access Lot

      Conveniently located lot with gulf access, close to amenities.
      2001 Everest Pkwy, Cape Coral, FL 33904
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    • $95,000
      0.23 Acres

      Residential Lot in Cape Coral

      Vacant lot in a neighborhood of elegant homes, Cape Coral.
      137 SE 44Th Ter, Cape Coral, FL 33904
      View Details
    • $1,050,000
      Pending

      Cape Coral Commercial Opportunity

      Versatile commercial property in thriving Cape Coral location.
      1213 SE 47Th Ter, Cape Coral, FL 33904
      View Details
    • $995,000
      0.28 Acres

      Waterfront Land in Cape Coral

      Vacant residential waterfront land with southern exposure and wide canal.
      5358 Cocoa Ct, Cape Coral, FL 33904
      View Details

    Similar Nearby for Lease

    • Contact for pricing

      Retail Space on Del Prado

      Retail space with high visibility on a major thoroughfare.
      Cape Coral, FL 33904
      View Details
    • $1,600 /Mo
      9,409 SF

      Cape Coral Commercial Office Space

      Commercial unit in Cape Coral, ideal for office space.
      1211 Miramar St, Cape Coral, FL 33904
      View Details
    • $2,950 /Mo
      18,069 SF

      Cape Coral Commercial Space Available

      Air-conditioned office and warehouse space in downtown Cape Coral.
      4519 SE 16Th Pl, Cape Coral, FL 33904
      View Details
    • $15 SF/Yr
      4,000 SF

      Retail Space on Del Prado

      Retail space with high visibility and traffic count.
      4515 Del Prado Blvd S, Cape Coral, FL 33904
      View Details
    • Contact for pricing
      12,857 SF

      Retail Space in Downtown Cape

      Retail space available in a busy Cape Coral shopping center.
      1000 Cape Coral Pkwy E, Cape Coral, FL 33904
      View Details
    • $217,200
      22,521 SF

      New Office Building For Lease

      Brand new office building with flexible space, available for lease.
      1217 SE 47Th St, Cape Coral, FL 33904
      View Details
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    1502 Miramar St
    Cape Coral, FL 33904-9737
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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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