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Property profile & analytics
OFF-MARKET
Estimated value
$800,000
Bars & Pubs
16500 State Rd 31 Fort Myers, FL 33905-4870
Entity Owned
2-yr Hold
Free & Clear
Property ID
US18-3812578
Property profile
Verified
Property type
Bars & Pubs
Use group
NIGHTCLUB (COCKTAIL LOUNGE)
Year built
1980
Construction
STEEL FRAME
Total area
3,080 SF
Lot
0.85 ac (37,113 SF)
Zoning code
CC
APN
30-43-26-00-00001.301B
UPID
US18-3812578
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
Value estimations
Realmo proprietary · 4 methods
AI Approach
AI
$800k
CAP Approach
CAP
by Request
Comparable Approach
Comparable
by Request
Blend (final)
Blend
$800k
Owner & transaction history
Chipola Land Group LLC · 2 yrs held
Chipola Land Group LLC
since 2024
Last sale
$800,000
2 recorded transactions
Zoning & alternative use
CC · Fort Myers, FL
Permitted uses
Permitted uses
Allowed · conditional · prohibited
Top alternative use upside
Auto repair, garage
$630,000
+72.1%
Commercial (general)
$555,000
+51.6%
Retail stores
$490,000
+34.1%
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
$800,000
ML approach
$800,000
CAP Approach
CAP Return
Estimation
6%
by Request
6.5%
by Request
7%
by Request
Alternative Use
Use
Estimation
AUTO REPAIR, GARAGE
$630,000
Change: +72% · Conversion: Difficult
COMMERCIAL (GENERAL)
$555,000
Change: +52% · Conversion: Difficult
RETAIL STORES
$490,000
Change: +34% · Conversion: Difficult
Blend value · Realmo final
$800k
Range $720k – $880k · ±10% · vs last sale $800k (Feb 7 2024)
Last sale anchor
$800k
Feb 7 2024
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
$260 / 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
$3,550
Tax year 2023
Assessed value
$236,293
Assessed 2023
Previous assessed
$236,293
+0.0% YoY
Effective rate
1.50%
On assessed value
Assessed land
$74,464
Assessed improvement
$161,829
Land market value
$74,464
Improvement market value
$161,829
Total market value
$236,293
Applied tax rate
66.0000
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
Bars & Pubs
Use group
NIGHTCLUB (COCKTAIL LOUNGE)
Status
Off-Market
Year built
1980
Construction
STEEL FRAME
Heating
FORCED AIR
Cooling
AC.PACKAGE
Stories
1
Total area
3,080 SF
Lot
0.85 ac (37,113 SF)
Zoning code
CC
APN
30-43-26-00-00001.301B
UPID
US18-3812578
Jurisdiction
LEE
Zoning & alternative use
CC · Fort Myers, FL
Zoning CC · permitted uses
CC · 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
AUTO REPAIR, GARAGE
Est. value
$630,000
COMMERCIAL (GENERAL)
Est. value
$555,000
RETAIL STORES
Est. value
$490,000
AUTO REPAIR, GARAGE
COMMERCIAL (GENERAL)
RETAIL STORES
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
1980
Construction
STEEL FRAME
Heating
FORCED AIR
Cooling
Yes
Stories
1
Lot
0.85 ac
Current owner
From public records · entity-resolved
Chipola Land Group LLC
Entity
Free & Clear · 2 yrs held
Mailing address
5800 LAKEWOOD RNCH BLVD N, LAKEWOOD RANCH, FL 34240-8479
Ownership since
2024
Owner contacts — direct phone, email, and related entities
Decision-maker phone · Verified email · Related entities & filings
Owner contacts
Email · phone · related entities
Sales History
2 recorded events · public records
Date
Price
Buyer
Seller
Deed Type
Mortgage
Feb 7, 2024
$800,000
Chipola Land Group LLC
Linda A Flaitz
Special Warranty Deed
—
Sep 22, 2015
—
Highway 31 Property LLC
Flaitz Linda A Living Trust
Grant 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.
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