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

    17685 Summerlin Rd, Unit 2B Fort Myers, FL 33908-5704

    • Office buildings
    • 1,770 SF
    • 0.14 lot acres
    OFF-MARKET
    Last Sale
    Mar 11, 2021
    $835,100
    Value Estimations
    $690,000
    Show details
    Cap Rate Potential
    5.1%
    Office buildings
    Location Intelligence
    Property ID
    US18-4849556
    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

    • Office buildings

    Property Details for 17685 Summerlin Rd

    Year built
    1999
    Lot size
    0.14 lot acres
    Property size
    1,770 SF
    Property type
    Office buildings
    APN
    08-46-24-01-00002.002B
    APU
    0846240100002002B

    Value Estimations

    based on Realmo’s proprietary methodology

    • AI approach

      Method
      Estimation
      Statistic approach
      $635,000
      ML approach
      $755,000

    • CAP approach

      CAP Return
      Estimation
      6%
      $540,000
      6.5%
      $500,000
      7%
      $465,000

    • Comparable approach

      Method
      Estimation
      Statistic Estimate
      $716,000
      Market price range: $318k - $795k
      AI Estimate
      $537,000
      Market price range: $232k - $538k

    • Alternative Use

      Use
      Estimation
      OFFICE BUILDING
      $515,000
      Current use
      COMMERCIAL (GENERAL)
      $635,000
      Change: +24% Conversion: Easy
      MEDICAL BUILDING
      $470,000
      Change: -8% Conversion: Easy
      RETAIL STORES
      $460,000
      Change: -10% Conversion: Moderate
      NEIGHBORHOOD: SHOPPING CENTER
      $420,000
      Change: -18% Conversion: Difficult

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

    Location Insight

    • Map
    • Local Demand
    City
    Fort Myers
    County
    Lee
    State
    Florida
    Longitude
    -81.9312
    Latitude
    26.4934
    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
    $4,774
    $0.00
    $440,726
    $440,726
    -
    $0.00
    $440,726
    $440,726

    Comparable in this City

    • Value Estimation by Request
      644 SF

      16956 Mcgregor Blvd Ste, Unit 4

      OFFICE BUILDING • 644 SF
      16956 Mcgregor Blvd Ste, Fort Myers, FL 33908-2938
      View Details
    • Value Estimation
      $780,000
      1,920 SF

      16521 San Carlos Blvd

      OFFICE BUILDING (MULTI-STORY) • 1,920 SF
      16521 San Carlos Blvd, Fort Myers, FL 33908-5245
      View Details
    • Value Estimation
      $3,475,000
      11,369 SF

      9681 Gladiolus Dr

      OFFICE BUILDING (MULTI-STORY) • 11,369 SF
      9681 Gladiolus Dr, Fort Myers, FL 33908-7607
      View Details
    • Value Estimation
      $805,000
      4,164 SF

      15750 New Hampshire Ct

      OFFICE BUILDING (MULTI-STORY) • 4,164 SF
      15750 New Hampshire Ct, Fort Myers, FL 33908-4100
      View Details
    • Value Estimation by Request
      5,203 SF

      15955 Pne Rdg Rd

      OFFICE BUILDING (MULTI-STORY) • 5,203 SF
      15955 Pne Rdg Rd, Fort Myers, FL 33908-2652
      View Details
    • Value Estimation by Request
      2,500 SF

      19460 Tamiami Trl

      OFFICE BUILDING (MULTI-STORY) • 2,500 SF
      19460 Tamiami Trl, Fort Myers, FL 33908-4805
      View Details

    Similar Nearby for Sale

    • $1,650,000
      6,000 SF

      Modern Office Building in Fort Myers

      6,000 SF modern office building built in 2013.
      9705 Commerce Center Ct, Fort Myers, FL 33908
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    • New
      $1,100,000
      3,960 SF

      San Carlos Blvd Office Building

      Class B office building on high-traffic San Carlos Blvd.
      16048 San Carlos Blvd, Fort Myers, FL 33908
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    • $3,166,542
      13,850 SF

      Fort Myers Office Building

      Turn-key office building with new roofs and buildouts.
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    • $539,900
      0.06 Acres

      Professional Office in Key West Style

      Move-in-ready office building with potential for two separate units.
      12855 Banyan Creek Dr, Fort Myers, FL 33908
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    • $2,794,354
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      Heartland Dental - Fort Myers

      Medical Office Investment: 6.2% Cap Rate
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    • $1,650,000

      Medical Office in Established Park

      Freestanding medical office building in a growing commercial corridor.
      9705 Commerce Center Ct, Fort Myers, FL 33908
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    Similar Nearby for Lease

    • $16 SF/Yr
      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
    • $20 SF/Yr
      1,931 SF

      Fort Myers Office Space for Lease

      1,931 SF Office, Updated 2023
      18070 Tamiami Trl, Fort Myers, FL 33908
      View Details
    • $0.75 SF/Yr
      27,532 SF

      Office Space for Rent

      Available office space in Fort Myers, Florida.
      17595 S Tamiami Trl, Fort Myers, FL 33908
      View Details
    • Contact for pricing
      31,141 SF

      Fort Myers Commercial Office Space

      Office space for rent in a mixed-use professional plaza.
      18070 S Tamiami Trl, 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
    • $25 SF/Yr
      900 SF

      Retail/Office Space on US41

      Commercial retail or office space on South Tamiami Trail.
      15248 S Tamiami Trl, Fort Myers, FL 33908
      View Details
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    Fort Myers, FL 33908-5704
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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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