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Property profile & analytics
OFF-MARKET
Hotels
2038 1st St Fort Myers, FL 33901-3109
Entity Owned
2-yr Hold
Free & Clear
Property ID
US18-4194544
Property profile
Verified
Property type
Hotels
Use group
HOTEL/MOTEL
Year built
1963
Construction
MASONRY/CONCRETE MASONRY UNITS (CMUS)
Total area
8,848 SF
Lot
0.79 ac (34,369 SF)
Zoning code
U-CORE
APN
14-44-24-P3-00010.0000
UPID
US18-4194544
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
-
Legacy Harbour Hotel & Suites Hotel & Motel
-
Sullivan Florida Group Business Management Consultant
-
Caloosahatchee Development Construction Company General Contractor
Value estimations
Realmo proprietary · 4 methods
AI Approach
AI
by Request
CAP Approach
CAP
by Request
Comparable Approach
Comparable
by Request
Blend (final)
Blend
by Request
Owner & transaction history
2044 West First Capital Propco LLC · 2 yrs held
2044 West First Capital Propco LLC
since 2023
Last sale
$7.6M
4 recorded transactions
Zoning & alternative use
U-CORE · Fort Myers, FL
Permitted uses
Permitted uses
Allowed · conditional · prohibited
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
CAP Approach
Comparable Approach
Alternative Use
Get a detailed, property-specific estimation — fast and free
Price per SF
Sale + rent benchmarks
Subject property
—
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
$54,793
Tax year 2023
Assessed value
$3,650,522
Assessed 2023
Previous assessed
$2,085,918
+75.0% YoY
Effective rate
1.50%
On assessed value
Assessed land
$1,448,429
Assessed improvement
$2,202,093
Land market value
$1,448,429
Improvement market value
$2,202,093
Total market value
$3,650,522
Applied tax rate
91.0000
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
1963
Construction
MASONRY/CONCRETE MASONRY UNITS (CMUS)
Heating
FORCED AIR
Cooling
AC.PACKAGE
Stories
2
Bathrooms
49
Total area
8,848 SF
Lot
0.79 ac (34,369 SF)
Zoning code
U-CORE
APN
14-44-24-P3-00010.0000
UPID
US18-4194544
Jurisdiction
LEE
Zoning & alternative use
U-CORE · Fort Myers, FL
Zoning U-CORE · permitted uses
U-CORE · 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.
Building & site characteristics
From public records
Year built
1963
Construction
MASONRY/CONCRETE MASONRY UNITS (CMUS)
Heating
FORCED AIR
Cooling
Yes
Stories
2
Bathrooms
49
Lot
0.79 ac
Current owner
From public records · entity-resolved
2044 West First Capital Propco LLC
Entity
Free & Clear · 2 yrs held
Mailing address
1 HARMON PLZ FL, SECAUCUS, NJ 07094-2803
Ownership since
2023
Owner contacts — direct phone, email, and related entities
Decision-maker phone · Verified email · Related entities & filings
Owner contacts
Email · phone · related entities
Sales History
4 recorded events · public records
Date
Price
Buyer
Seller
Deed Type
Mortgage
Aug 25, 2023
—
2044 West First Capital Propco LLC
2044 West First Capital LLC
Intrafamily Transfer
related
—
Jan 4, 2022
$7,600,000
Gayatriganesh LLC
Marc C Sullivan
Special Warranty Deed
—
Aug 12, 2003
—
Winyah LLC
Sullivan,tr
Grant Deed
related
—
Mar 20, 1997
$595,000
Riverwalk Inn Joint Venture
Fort Myers Motel Group INC
Grant Deed
$470,000 · Seller
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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“Is 15.6% cap rate sustainable?” · “Best tenant mix for BU1?” · “What’s the redev upside?”
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