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    The Largest CRE Database in the US with Over 1 Million Listings
    Property profile & analytics

    1537 Laurel Dr North Fort Myers, FL 33917-1830

    • Grocery and convenience stores
    • 2,400 SF
    • 0.40 lot acres
    OFF-MARKET
    Last Sale
    Nov 03, 2021
    $180,000
    Value Estimations
    Cap Rate Potential
    Location Intelligence
    Property ID
    US18-2791450
    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

    • Grocery and convenience stores

    Property Details for 1537 Laurel Dr

    Year built
    1976
    Construction
    MASONRY/CONCRETE MASONRY UNITS (CMUS)
    Lot size
    0.40 lot acres
    Property size
    2,400 SF
    Zone code
    C-1A
    Property type
    Grocery and convenience stores
    APN
    26-43-24-00-00028.011B
    APU
    2643240000028011B

    Value Estimations

    based on Realmo’s proprietary methodology

    • AI approach

    • CAP approach

    • Comparable approach

    • Alternative Use

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

    Location Insight

    • Map
    • Local Demand
    City
    North Fort Myers
    County
    Lee
    State
    Florida
    Longitude
    -81.879
    Latitude
    26.7044
    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
    $4,039
    $48,798
    $193,594
    $242,392
    -
    $48,798
    $193,594
    $242,392

    Comparable in this City

    • Value Estimation
      $570,000
      4,026 SF

      18981 Old Bayshore Rd

      CONVENIENCE STORE • 4,026 SF
      18981 Old Bayshore Rd, North Fort Myers, FL 33917-5515
      View Details
    • Value Estimation by Request
      2,760 SF

      5760 Bayshore Rd

      CONVENIENCE STORE • 2,760 SF
      5760 Bayshore Rd, North Fort Myers, FL 33917-3009
      View Details
    • Value Estimation by Request
      2,400 SF

      15890 Hart Rd

      CONVENIENCE STORE • 2,400 SF
      15890 Hart Rd, North Fort Myers, FL 33917-5434
      View Details
    • Value Estimation
      $505,000
      2,940 SF

      2249 Laurel Ln

      CONVENIENCE STORE • 2,940 SF
      2249 Laurel Ln, North Fort Myers, FL 33917-1909
      View Details
    • Value Estimation
      $9,305,000
      46,023 SF

      6690 Bayshore Rd, Unit 6704

      GROCERY, SUPERMARKET • 46,023 SF
      6690 Bayshore Rd, North Fort Myers, FL 33917-3305
      View Details
    • Value Estimation by Request
      2,400 SF

      19451 State Rd 31

      CONVENIENCE STORE • 2,400 SF
      19451 State Rd 31, North Fort Myers, FL 33917-5523
      View Details

    Similar Nearby for Sale

    • $9,672,000
      46,320 SF

      ALDI Grocery Store Investment Opportunity

      Long-term lease with corporate guaranty in growing trade area.
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    • $6,130,000
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      NNN Leased Investment Opportunity

      NNN leased 7-Eleven with rental increases and options.
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      Honey Bee Farm Opportunity

      Profitable honey bee farm with retail and production facilities.
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    • Contact for pricing

      Neighborhood Shopping Center on Bayshore Rd

      Neighborhood shopping center with investment and owner/user opportunities.
      6355 Bayshore Rd, North Fort Myers, FL 33917
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    • $1,490,000
      2.34 Acres

      North Fort Myers Commercial Land

      2+ acres on S.R. 31 near new 7/11.
      18931 Babcock Rnch Rd, North Fort Myers, FL 33917
      View Details
    • Contact for pricing
      85,915 SF

      Bayshore Center: Retail Investment Opportunity

      Prime North Fort Myers Shopping Center - For Sale or Lease
      6351 Bayshore Rd, North Fort Myers, FL 33917
      View Details

    Similar Nearby for Lease

    • Contact for pricing
      1,440 SF

      Retail Space in Growing Area

      Retail space in a rapidly growing North Fort Myers submarket.
      6694-6704 Bayshore Rd, North Fort Myers, FL 33917
      View Details
    • $14 SF/Yr
      26,492 SF

      Shoreline Shoppes: Prime Retail/Office Space

      North Fort Myers, FL: Medical & General Office Suites Available
      5781 Bayshore Rd, North Fort Myers, FL 33917
      View Details
    • $16 SF/Yr
      48,759 SF

      Bayshore Center: Retail & Office Space

      Prime North Fort Myers commercial property.
      6351 Bayshore Rd, North Fort Myers, FL 33917
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    • $13 SF/Yr
      9,335 SF

      North Ft. Myers Flex Space For Lease

      Versatile Office/Industrial Space Available
      4750 Bayline Dr, North Fort Myers, FL 33917
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    • $16 SF/Yr
      2,353 SF

      North Fort Myers Flex Space

      Versatile 2,400 SF flex space with fenced yard.
      7997 Mercantile St, North Fort Myers, FL 33917
      View Details
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    1537 Laurel Dr
    North Fort Myers, FL 33917-1830
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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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