Sign Up Successful!
You now have access to more from Realmo!
Property Lookup
    Property Lookup
    • For Sale
    • For Lease
    • Recently Sold
    • Property Lookup
    • Brokers
    AI Search
    Back to Search
    The Largest CRE Database in the US with Over 1 Million Listings
    Property profile & analytics

    16731 Mcgregor Blvd Fort Myers, FL 33908-3843

    • Investment properties
    • 5,800 SF
    • 1.94 lot acres
    OFF-MARKET
    Last Sale
    Mar 02, 2025
    Value Estimations
    $1,855,000
    Show details
    Cap Rate Potential
    Location Intelligence
    Property ID
    US18-9978162
    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

    • ChiroAssistants / Alternative Medicine Practice
    • Tropicana / Community Center
    • Tropicana Apartments / Apartment Building
    • Ft Myers Fl / Medical Clinic
    • Century 21 Mobile Home Community / Campground & RV Park

    Property Details for 16731 Mcgregor Blvd

    Year built
    1981
    Construction
    MASONRY/CONCRETE MASONRY UNITS (CMUS)
    Lot size
    1.94 lot acres
    Property size
    5,800 SF
    Zone code
    C-1A
    Property type
    Investment properties
    Property subtype
    Retail residential properties
    APN
    01-46-23-00-00027.001B
    APU
    0146230000027001B

    Value Estimations

    based on Realmo’s proprietary methodology

    • Comparable approach

      Method
      Estimation
      Statistic Estimate
      $2,041,000
      Market price range: $584k - $4.87M
      AI Estimate
      $1,668,000
      Market price range: $666k - $2.82M

    • Alternative Use

      Use
      Estimation
      COMMERCIAL (GENERAL)
      $2,080,000
      Current use
      OFFICE BUILDING
      $1,680,000
      Change: -19% Conversion: Easy

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

    Location Insight

    • Map
    • Local Demand
    City
    Fort Myers
    County
    Lee
    State
    Florida
    Longitude
    -81.9672
    Latitude
    26.4998
    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
    $16,098
    $1,686,640
    $10
    $1,686,650
    -
    $1,686,640
    $10
    $1,686,650

    Comparable in this City

    • Value Estimation
      $1,100,000
      2,530 SF

      16175 John Morris Rd

      STORE/OFFICE (MIXED USE) • 2,530 SF
      16175 John Morris Rd, Fort Myers, FL 33908-3030
      View Details
    • Value Estimation
      $925,000
      2,838 SF

      14500 Jonathan Harbour Dr

      STORE/OFFICE (MIXED USE) • 2,838 SF
      14500 Jonathan Harbour Dr, Fort Myers, FL 33908-2801
      View Details
    • Value Estimation
      $775,000
      6,336 SF

      11615 Chitwood Dr

      STORE/OFFICE (MIXED USE) • 6,336 SF
      11615 Chitwood Dr, Fort Myers, FL 33908-3290
      View Details
    • Value Estimation by Request
      1,972 SF

      16650 Mcgregor Blvd

      STORE/OFFICE (MIXED USE) • 1,972 SF
      16650 Mcgregor Blvd, Fort Myers, FL 33908-3844
      View Details
    • Value Estimation by Request
      1,116 SF

      19710 Tamiami Trl

      STORE/OFFICE (MIXED USE) • 1,116 SF
      19710 Tamiami Trl, Fort Myers, FL 33908-4811
      View Details
    • Value Estimation by Request
      1,050 SF

      000 To Owner

      Restaurants • 1,050 SF
      000 To Owner, Fort Myers, FL 33908
      View Details

    Similar Nearby for Sale

    • $6,100,000
      10.08 Acres

      Fort Myers Mixed-Use Land Opportunity

      10-Acre Commercial Development Site
      9901 Gladiolus Dr, Fort Myers, FL 33908
      View Details
    • $3,000,000

      Ft. Myers Commercial Land - 6.8 Acres

      Prime location, multi-use potential, near beaches.
      20161 Summerlin Rd, Fort Myers, FL 33908
      View Details
    • $393,750
      1,575 SF

      Luxury Self Storage Suites in Fort Myers, FL

      9 Units, Class A, Under Construction
      16255 Pine Ridge Rd, Fort Myers, FL 33908
      View Details
    • $75,000
      0.04 Acres

      Land Near Fort Myers Beach

      Land in 55+ community near beaches, restaurants, and shopping.
      19681 Summerlin #90 Rd, Fort Myers, FL 33908
      View Details
    • $150,000
      0.34 Acres

      Fort Myers Multi-Unit Zoned Lot

      Multi-unit zoned lot near beaches in Fort Myers, Florida.
      13410 Pine Needle Ln, Fort Myers, FL 33908
      View Details
    • $1,650,000
      6,000 SF

      Fort Myers Office Building Investment

      6,000 SF Office, Medical, or Creative Space
      9705 Commerce Center Ct, Fort Myers, FL 33908
      View Details

    Similar Nearby for Lease

    • $25 SF/Yr
      1,250 SF

      Retail Space on South Tamiami

      Retail space for lease on South Tamiami Trail.
      15250 S Tamiami Trl, Fort Myers, FL 33908
      View Details
    • Contact for pricing
      1,600 SF

      Retail Space in Fort Myers

      Retail space available in a busy Fort Myers location.
      15271 Mcgregor Blvd, Fort Myers, FL 33908
      View Details
    • Contact for pricing

      Retail Space Near Super Target

      Retail space with frontage and monument signage near Super Target.
      Fort Myers, FL 33908
      View Details
    • Contact for pricing
      940 SF

      Retail/Office Space on McGregor Blvd

      940 SF retail/office space in Fort Myers, Florida.
      15670 Mcgregor Blvd, Fort Myers, FL 33908
      View Details
    • $14 SF/Yr
      7,200 SF

      Prime South Fort Myers Office Space

      1700 SF Office Suite Available Now
      8900 Gladiolus Dr, Fort Myers, FL 33908
      View Details
    • $20 SF/Yr
      76,780 SF

      Prime Lee County Flex Space

      Class A industrial space, flexible layouts, immediate occupancy.
      16261 Pine Ridge Rd, Fort Myers, FL 33908
      View Details
    Request Owner's contact information
    Message sent successfully
    Error
    If you are the owner or broker of this property and would like to edit or remove this listing please send a message to web site administrator.
    16731 Mcgregor Blvd
    Fort Myers, FL 33908-3843
    Message sent successfully
    Error
    Email to Your Friends
    Link copied to clipboard
    Separate multiple addresses with a comma
    Message sent successfully
    Error

    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
    Thanks! Your message was sent.
    Error! Your message wasn't sent.
    Please enter your name
    Please enter email
    Please enter the email in the correct format
    Please enter phone
    Please enter the number in the correct format
    Please enter message
    Thank You

    You are Unsubscribed From Notifications

    Google sign-in failed. Please try again or use another login method.