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    Property profile & analytics

    1505 Gretchen S Ave Lehigh Acres, FL 33973-2613

    • Grocery and convenience stores
    • 3,500 SF
    • 0.61 lot acres
    OFF-MARKET
    Value Estimations
    $615,000
    Show details
    Cap Rate Potential
    Location Intelligence
    Property ID
    US18-5353326
    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

    • Carniceria Monterrey / Grocery & Convenience Store / Food Market

    Property Details for 1505 Gretchen S Ave

    Year built
    2008
    Construction
    MASONRY/CONCRETE MASONRY UNITS (CMUS)
    Lot size
    0.61 lot acres
    Property size
    3,500 SF
    Zone code
    C-2
    Property type
    Grocery and convenience stores
    APN
    04-45-26-05-00010.0030
    APU
    4452605000100030

    Value Estimations

    based on Realmo’s proprietary methodology

    • CAP approach

      CAP Return
      Estimation
      6%
      $765,000
      6.5%
      $705,000
      7%
      $655,000

    • Comparable approach

      Method
      Estimation
      Statistic Estimate
      $668,000
      Market price range: $478k - $1.04M
      AI Estimate
      $465,000
      Market price range: $209k - $879k

    • Alternative Use

      Use
      Estimation
      RETAIL STORES
      $810,000
      Current use
      MEDICAL BUILDING
      $1,000,000
      Change: +23% Conversion: Difficult
      OFFICE BUILDING
      $825,000
      Change: +2% Conversion: Easy

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

    Location Insight

    • Map
    • Local Demand
    City
    Lehigh Acres
    County
    Lee
    State
    Florida
    Longitude
    -81.7133
    Latitude
    26.5977
    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
    $6,689
    $133,083
    $362,325
    $495,408
    -
    $133,083
    $362,325
    $495,408

    Comparable in this City

    • Value Estimation
      $2,385,000
      7,433 SF

      544 Mdw Rd

      RETAIL STORES (PERSONAL SERVICES) • 7,433 SF
      544 Mdw Rd, Lehigh Acres, FL 33973
      View Details
    • Value Estimation
      $2,280,000
      9,170 SF

      701 Gretchen S Ave

      RETAIL STORES (PERSONAL SERVICES) • 9,170 SF
      701 Gretchen S Ave, Lehigh Acres, FL 33973-2039
      View Details
    • Value Estimation by Request
      4,269 SF

      336 Gunnery S Rd

      SERVICE STATION (FULL SERVICE) • 4,269 SF
      336 Gunnery S Rd, Lehigh Acres, FL 33973-2017
      View Details
    • Value Estimation by Request
      2,400 SF

      1581 Gretchen S Ave

      SERVICE STATION (FULL SERVICE) • 2,400 SF
      1581 Gretchen S Ave, Lehigh Acres, FL 33973-2658
      View Details
    • Value Estimation by Request
      5,104 SF

      4405 Golfview Blvd

      SERVICE STATION (FULL SERVICE) • 5,104 SF
      4405 Golfview Blvd, Lehigh Acres, FL 33973-6023
      View Details
    • Value Estimation by Request
      1,800 SF

      140 Gunnery S Rd

      SERVICE STATION (FULL SERVICE) • 1,800 SF
      140 Gunnery S Rd, Lehigh Acres, FL 33973-2013
      View Details

    Similar Nearby for Sale

    • New
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      4,300 SF

      Lehigh Acres Auto Repair Business

      Thriving auto repair business with property for sale in Florida.
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      Lehigh Acres Multi-Family Home

      2026-built 6-bedroom, 4-bath multi-family home near Fort Myers.
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      Lehigh Acres Duplex Lot

      Residential land in Lehigh Acres, Florida, suitable for duplex construction.
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      Lehigh Acres Land For Sale

      Residential land in Lehigh Acres, close to amenities and schools.
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    • $1,700,000

      New Construction Warehouse with Office

      New construction warehouse with office space for sale or lease.
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    • $464,935
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      Lehigh Acres Investment Property

      Multifamily property in Lehigh Acres, centrally located near shops.
      2426 Millie Ave S, Lehigh Acres, FL 33973
      View Details

    Similar Nearby for Lease

    • $2,200 /Mo

      New Three-Bedroom Residence For Lease

      Brand-new three-bedroom residence with modern living and high-quality finishes.
      4574 Golfview Blvd, Lehigh Acres, FL 33973
      View Details
    • $1,900 /Mo

      Lehigh Acres Duplex For Rent

      Duplex with 2 bedrooms, den, and attached garage.
      2702 Robin Ave, Lehigh Acres, FL 33973
      View Details
    • $2,200 /Mo

      New Three-Bedroom Residence For Lease

      Brand-new three-bedroom residence with modern living and high-quality finishes.
      4568 Golfview Blvd, Lehigh Acres, FL 33973
      View Details
    • $1,900 /Mo

      New Lehigh Acres Duplex

      New construction duplex with modern amenities, conveniently located in Lehigh.
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      View Details
    • $1,900 /Mo

      Spacious Three-Bedroom Apartment Available

      Move-in ready apartment featuring modern amenities and ample space.
      2422 S Vernon Ave, Lehigh Acres, FL 33973
      View Details
    • $1,900 /Mo

      New Construction Duplex in Lehigh

      New 3 bed, 2 bath duplex for rent.
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      View Details
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    Lehigh Acres, FL 33973-2613
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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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