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Property profile & analytics
OFF-MARKET
Estimated value
$4,485,000
Hotels
17990 San Carlos Blvd Fort Myers Beach, FL 33931-2322
Entity Owned
5-yr Hold
~
Est. High Equity
Property ID
US18-9250288
Property profile
Verified
Property type
Hotels
Use group
HOTEL/MOTEL
Year built
1964
Construction
MASONRY/CONCRETE MASONRY UNITS (CMUS)
Total area
10,505 SF
Lot
1.49 ac (64,985 SF)
Zoning code
C-2
APN
13-46-23-00-00004.0060
UPID
US18-9250288
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
-
Island Time Dolphin & Shelling Cruises, Inc. (Bike/Boat/Book/etc) Store
-
Latitude 26 Waterfront Boutique Resort - Fort Myers Beach Hotel & Motel Resort
-
Lei'd Back Tiki Tours LLC (Bike/Boat/Book/etc) Store
Value estimations
Realmo proprietary · 4 methods
AI Approach
AI
$5.08M
CAP Approach
CAP
by Request
Comparable Approach
Comparable
by Request
Blend (final)
Blend
$4.49M
Owner & transaction history
Estancia Us LP · 5 yrs held
Estancia Us LP
since 2020
Last sale
$4.0M
7 recorded transactions
Zoning & alternative use
C-2 · Fort Myers Beach, FL
Permitted uses
Permitted uses
Allowed · conditional · prohibited
Top alternative use upside
Auto repair, garage
$7.4M
+30.9%
Restaurant
$6.1M
+7.4%
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 Beach submarket · NOI estimate · Typical band, median & reading
Implied cap rate, NOI & submarket benchmark
Cap vs Fort Myers Beach 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
$4,865,000
ML approach
$5,075,000
CAP Approach
CAP Return
Estimation
6%
by Request
6.5%
by Request
7%
by Request
Alternative Use
Use
Estimation
HOTEL/MOTEL
$5,660,000
Current use
AUTO REPAIR, GARAGE
$7,405,000
Change: +31% · Conversion: Difficult
RESTAURANT
$6,075,000
Change: +7% · Conversion: Difficult
Blend value · Realmo final
$4.49M
Range $4.04M – $4.93M · ±10% · vs last sale $4.00M (Nov 23 2020)
Last sale anchor
$4.00M
Nov 23 2020
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
$427 / 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
$44,034
Tax year 2023
Assessed value
$3,670,404
Assessed 2023
Previous assessed
$3,014,365
+21.8% YoY
Effective rate
1.20%
On assessed value
Assessed land
$2,429,418
Assessed improvement
$1,240,986
Land market value
$2,429,418
Improvement market value
$1,240,986
Total market value
$3,670,404
Applied tax rate
78.0000
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
Hotels
Use group
HOTEL/MOTEL
Status
Off-Market
Year built
1964
Construction
MASONRY/CONCRETE MASONRY UNITS (CMUS)
Heating
FORCED AIR
Cooling
AC.PACKAGE
Stories
2
Bathrooms
34
Total area
10,505 SF
Lot
1.49 ac (64,985 SF)
Zoning code
C-2
APN
13-46-23-00-00004.0060
UPID
US18-9250288
Jurisdiction
LEE
Zoning & alternative use
C-2 · Fort Myers Beach, FL
Zoning C-2 · permitted uses
C-2 · Fort Myers Beach, FL
Permitted & conditional uses
Allowed uses · Special-permit conditions · Prohibited uses
Permitted & conditional uses
Allowed · special-permit conditions · prohibited
Fort Myers Beach. Always verify with local authorities before improvements.
Alternative use value scenarios
Repositioning upside vs current use
HOTEL/MOTEL Current
Est. value
$5.7M
AUTO REPAIR, GARAGE
Est. value
$7.4M
RESTAURANT
Est. value
$6.1M
HOTEL/MOTEL Current
AUTO REPAIR, GARAGE
RESTAURANT
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
1964
Construction
MASONRY/CONCRETE MASONRY UNITS (CMUS)
Heating
FORCED AIR
Cooling
Yes
Stories
2
Bathrooms
34
Lot
1.49 ac
Current owner
From public records · entity-resolved
Estancia Us LP
Entity
Mailing address
4701 BONITA BCH RD, BONITA SPRINGS, FL 34134-3997
Ownership since
2020
Owner contacts — direct phone, email, and related entities
Decision-maker phone · Verified email · Related entities & filings
Owner contacts
Email · phone · related entities
Sales History
9 recorded events · public records
Date
Price
Buyer
Seller
Deed Type
Mortgage
Nov 23, 2020
$4,000,000
Estancia Us LP
10 Clay Properties LLC
Warranty Deed
$3,600,000 · 10 Clay Properties LLC
Jan 21, 2020
$2,200,000
10 Clay Properties LLC
Cypflo Management LLC
Grant Deed
—
Jan 9, 2017
—
Cypflo Management LLC
—
Deed
related
$5,000,000 · Twc Associates Psp/tr (ct)
Apr 20, 2010
—
Pbf-1 Land Trust
Pb-ii Land Trust
Warranty Deed
—
Aug 21, 2008
$4,536,000
Cypflo Management LLC
Security Savings Bank
Grant Deed
—
Apr 23, 2008
$2,300,000
Security Savings Bank
L & M Gbc Mar LLC Coc
Trustees Deed
related
—
Feb 20, 2006
$6,100,000
L & M Gbc Mar LLC
Teranga Management INC
Warranty Deed
$4,536,000 · Cypress Lending Group Ltd
Feb 3, 1999
$2,000,000
Teranga Management INC
Stilwell,sandra K
Grant Deed
—
—
—
Cypflo Management LLC
—
Deed Of Trust
related
$5,000,000 · Twc Associates Psp/tr (ct)
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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