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

    1861 Benchmark Ave Fort Myers, FL 33905-4912

    • Flex space
    • 13,981 SF
    • 1.03 lot acres
    OFF-MARKET
    Last Sale
    Oct 04, 2024
    $2,000,000
    Value Estimations
    $2,000,000
    Show details
    Cap Rate Potential
    6.4%
    Flex space
    Location Intelligence
    Property ID
    US18-0970073
    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

    • Solid Surface Tops of SW Fl / Countertop Store

    Property Details for 1861 Benchmark Ave

    Year built
    2005
    Construction
    STEEL FRAME
    Lot size
    1.03 lot acres
    Property size
    13,981 SF
    Zone code
    IL
    Property type
    Flex space
    APN
    16-44-25-P4-00300.0080
    APU
    164425P4003000080

    Description

    This exceptional single-tenant industrial property, located at 1861 Benchmark Ave in Fort Myers, Florida, presents a compelling investment opportunity. The 12,006-square-foot warehouse, built in 2005, sits on a 1.03-acre lot and is zoned IL within Lee County. The building features one story and offers convenient access with one loading dock and three drive-in doors, making it ideal for efficient loading and unloading operations. The property's versatile design caters to a variety of industrial uses, including warehouse, manufacturing, and distribution needs. Its single-tenant occupancy provides stability and ease of management. The property's strategic location in Fort Myers, Florida, offers excellent access to major transportation routes, enhancing logistical efficiency and accessibility for businesses. This well-maintained facility represents a rare opportunity to acquire a functional and strategically located industrial property in a thriving market. The property's size and features make it suitable for a range of businesses seeking a well-equipped and conveniently situated warehouse space. The 33905 zip code provides easy access to local amenities and a skilled workforce. This is a turnkey solution for businesses seeking immediate occupancy and operational efficiency.

    Value Estimations

    based on Realmo’s proprietary methodology

    • AI approach

      Method
      Estimation
      Statistic approach
      $2,000,000
      ML approach
      $2,000,000

    • CAP approach

      CAP Return
      Estimation
      6%
      $2,125,000
      6.5%
      $1,965,000
      7%
      $1,825,000

    • Comparable approach

      Method
      Estimation
      Statistic Estimate
      $1,850,000
      Market price range: $1.46M - $5.32M

    • Alternative Use

      Use
      Estimation
      INDUSTRIAL (GENERAL)
      $2,725,000
      Current use

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

    Location Insight

    • Map
    • Local Demand
    City
    Fort Myers
    County
    Lee
    State
    Florida
    Longitude
    -81.8204
    Latitude
    26.6438
    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
    $15,444
    $160,018
    $634,201
    $794,219
    -
    $160,018
    $634,201
    $794,219

    Comparable in this City

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      $6,825,000
      94,681 SF

      5521 Division Dr

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    • Value Estimation
      $2,220,000
      24,930 SF

      5765 Corporation Cir

      LIGHT INDUSTRIAL • 24,930 SF
      5765 Corporation Cir, Fort Myers, FL 33905-5009
      View Details
    • Value Estimation
      $2,205,000
      24,727 SF

      5642 Enterprise Pkwy

      LIGHT INDUSTRIAL • 24,727 SF
      5642 Enterprise Pkwy, Fort Myers, FL 33905-5022
      View Details
    • Value Estimation
      $2,055,000
      17,040 SF

      5755 Corporation Cir

      LIGHT INDUSTRIAL • 17,040 SF
      5755 Corporation Cir, Fort Myers, FL 33905-5009
      View Details
    • Value Estimation
      $5,055,000
      26,801 SF

      5570 Enterprise Pkwy

      LIGHT INDUSTRIAL • 26,801 SF
      5570 Enterprise Pkwy, Fort Myers, FL 33905-5022
      View Details
    • Value Estimation
      $725,000
      6,170 SF

      5931 Country Lks Dr

      LIGHT INDUSTRIAL • 6,170 SF
      5931 Country Lks Dr, Fort Myers, FL 33905-5507
      View Details

    Similar Nearby for Sale

    • Contact for pricing

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      Fort Myers Warehouse with Fenced Yard

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    Similar Nearby for Lease

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      1,600 SF

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    • $3,500 /Mo
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      View Details
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      Office/warehouse unit with renovated office and dock high doors.
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    • $14 SF/Yr
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      Warehouse Space with I-75 Visibility

      15,490 SF rear-load warehouse space available for lease.
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    • $2,500 /Mo
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      Industrial Space with Fenced Yard

      Industrial property for rent with paved and fenced yard.
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    • Contact for pricing
      8,139 SF

      Industrial Warehouse with Fenced Lot

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      View Details
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    1861 Benchmark Ave
    Fort Myers, FL 33905-4912
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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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