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Property profile & analytics
FOR LEASE
Office buildings
1516 Royal Palm Square Blvd Fort Myers, FL 33919
Entity Owned
12-yr Hold
Free & Clear
Property ID
US18-2034104
For Lease
$14 SF/Yr
1516 Royal Palm Square Blvd, Fort Myers, FL 33919
View Listing →
Property profile
Verified
Property type
Office buildings
Use group
OFFICE BUILDING (MULTI-STORY)
Year built
1985
Construction
MASONRY/CONCRETE MASONRY UNITS (CMUS)
Total area
3,368 SF
Lot
0.4 ac (17,500 SF)
Zoning code
CG
APN
02-45-24-P1-00400.0020
UPID
US18-2034104
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
-
Commecial Property Specialists, Inc. Property Management Company
-
Auriculotherapy Center-Stop Medical Clinic
-
R.THAD GOODWIN, M.D. Ophthalmology Eye Care Center
-
G-Force Dance Company Training Center
-
Omega Portable Toilet Rentals Building Supply
Value estimations
Realmo proprietary · 4 methods
AI Approach
AI
by Request
CAP Approach
CAP
$950k
Comparable Approach
Comparable
$1.06M
Blend (final)
Blend
$915k
Owner & transaction history
1516 Royal Palm LLC · 12 yrs held
1516 Royal Palm LLC
since 2014
1 recorded transaction
Zoning & alternative use
CG · Fort Myers, FL
Permitted uses
Permitted uses
Allowed · conditional · prohibited
Top alternative use upside
Commercial (general)
$1.2M
+45.4%
Medical building
$895,000
+7.7%
Retail stores
$875,000
+5.5%
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%
$1,030,000
6.5%
$950,000
7%
$880,000
Alternative Use
Use
Estimation
OFFICE BUILDING
$830,000
Current use
COMMERCIAL (GENERAL)
$1,210,000
Change: +45% · Conversion: Easy
MEDICAL BUILDING
$895,000
Change: +8% · Conversion: Easy
RETAIL STORES
$875,000
Change: +6% · Conversion: Moderate
NEIGHBORHOOD: SHOPPING CENTER
$795,000
Change: -4% · Conversion: Difficult
Blend value · Realmo final
$915k
Range $824k – $1.01M · ±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
$272 / 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
$12,220
Tax year 2023
Assessed value
$730,679
Assessed 2023
Previous assessed
$633,093
+15.4% YoY
Effective rate
1.67%
On assessed value
Assessed land
$138,537
Assessed improvement
$592,142
Land market value
$138,537
Improvement market value
$592,142
Total market value
$730,679
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
Office buildings
Use group
OFFICE BUILDING (MULTI-STORY)
Status
For Lease
Year built
1985
Construction
MASONRY/CONCRETE MASONRY UNITS (CMUS)
Heating
FORCED AIR
Cooling
AC.PACKAGE
Stories
2
Total area
3,368 SF
Lot
0.4 ac (17,500 SF)
Zoning code
CG
APN
02-45-24-P1-00400.0020
UPID
US18-2034104
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
OFFICE BUILDING Current
Est. value
$830,000
COMMERCIAL (GENERAL)
Est. value
$1.2M
MEDICAL BUILDING
Est. value
$895,000
RETAIL STORES
Est. value
$875,000
NEIGHBORHOOD: SHOPPING CENTER
Est. value
$795,000
OFFICE BUILDING Current
COMMERCIAL (GENERAL)
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
1985
Construction
MASONRY/CONCRETE MASONRY UNITS (CMUS)
Heating
FORCED AIR
Cooling
Yes
Stories
2
Lot
0.4 ac
Current owner
From public records · entity-resolved
1516 Royal Palm LLC
Entity
Free & Clear · 12 yrs held
Mailing address
12220 FLINTLOCK LN, FORT MYERS, FL 33912-1458
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
1 recorded event · public records
Date
Price
Buyer
Seller
Deed Type
Mortgage
Apr 16, 2014
$412,500
1516 Royal Palm LLC
Johnson Patricia A Trust
Warranty Deed
—
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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