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

    216 Santa Barbara Blvd Cape Coral, FL 33991-2031

    • Assisted living facilities
    • 40,546 SF
    • 4.86 lot acres
    OFF-MARKET
    Last Sale
    Nov 06, 2023
    $9,667,500
    Value Estimations
    $9,730,000
    Show details
    Cap Rate Potential
    Location Intelligence
    Property ID
    US18-1071658
    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

    • Katherine H. Brucker, MPT / Physician
    • Hillary C. Klos, MSPT / Medical Clinic
    • Aspire at Santa Barbara / Rehabilitation Center / Medical Center
    • Kristy Desjardin / Physician
    • John Magin / Physician

    Property Details for 216 Santa Barbara Blvd

    Year built
    1987
    Construction
    MASONRY/CONCRETE MASONRY UNITS (CMUS)
    Lot size
    4.86 lot acres
    Property size
    40,546 SF
    Zone code
    C1-D
    Property type
    Assisted living facilities
    Property subtype
    Retirement homes
    APN
    14-44-23-C2-00007.0010
    APU
    144423C2000070010

    Value Estimations

    based on Realmo’s proprietary methodology

    • AI approach

      Method
      Estimation
      Statistic approach
      $11,175,000
      ML approach
      $8,405,000

    • Alternative Use

      Use
      Estimation
      HOMES (RETIRED, HANDICAP, REST, CONVALESCENT, NURSING)
      $8,445,000
      Current use
      COMMERCIAL (GENERAL)
      $16,160,000
      Change: +91% Conversion: Difficult
      NEIGHBORHOOD: SHOPPING CENTER
      $14,850,000
      Change: +76% Conversion: Difficult
      MEDICAL BUILDING
      $12,450,000
      Change: +47% Conversion: Difficult
      RETAIL STORES
      $12,340,000
      Change: +46% Conversion: Difficult
      OFFICE BUILDING
      $8,740,000
      Change: +3% Conversion: Difficult

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

    Location Insight

    • Map
    • Local Demand
    City
    Cape Coral
    County
    Lee
    State
    Florida
    Longitude
    -81.9753
    Latitude
    26.6471
    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
    $77,765
    $454,080
    $3,900,645
    $4,354,725
    -
    $454,080
    $3,900,645
    $4,354,725

    Comparable in this City

    • Value Estimation
      $1,820,000
      71,183 SF

      1906 Skyline Blvd

      HOMES (RETIRED, NURSING) • 71,183 SF
      1906 Skyline Blvd, Cape Coral, FL 33991-3388
      View Details
    • Value Estimation
      $715,000
      21,714 SF

      911 Santa Barbara Blvd

      HOMES (RETIRED, NURSING) • 21,714 SF
      911 Santa Barbara Blvd, Cape Coral, FL 33991-2074
      View Details
    • Value Estimation
      $1,610,000
      34,833 SF

      831 Santa Barbara Blvd

      HOMES (RETIRED, NURSING) • 34,833 SF
      831 Santa Barbara Blvd, Cape Coral, FL 33991-2072
      View Details
    • Value Estimation by Request
      3,642 SF

      2821 Pne Is Rd

      HOMES (RETIRED, NURSING) • 3,642 SF
      2821 Pne Is Rd, Cape Coral, FL 33991-1706
      View Details
    • Value Estimation
      $985,000
      7,670 SF

      1318 Santa Barbara Blvd

      HOMES (RETIRED, NURSING) • 7,670 SF
      1318 Santa Barbara Blvd, Cape Coral, FL 33991-2855
      View Details
    • Value Estimation
      $8,645,000
      52,098 SF

      2219 Chiquita S Blvd

      HOMES (RETIRED, NURSING) • 52,098 SF
      2219 Chiquita S Blvd, Cape Coral, FL 33991-3291
      View Details

    Similar Nearby for Sale

    • $600,000

      Prime Cape Coral Commercial Land

      1.1-Acre Corner Lot, $600,000
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      Lakefront Multi-Family Zoned Lot

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      New Cape Coral Duplex Investment

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    • $120,000

      Commercial Land Parcel For Sale

      Commercial land parcel in a sought-after, high-traffic area.
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      18,000 SF

      Cape Coral Discount Tire Asset

      Discount Tire property in a major retail node.
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      Commercial Lot Near Burnt Store

      Commercial lot located near Burnt Store Rd and Tropicana Pkwy.
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    Similar Nearby for Lease

    • Contact for pricing
      43,560 SF

      Prime Cape Coral Commercial Property

      Retail, Office, & Land Available
      0 Nwc Pne Is Rd & Chiquita Blvd, Cape Coral, FL 33991
      View Details
    • $32 SF/Yr
      8,970 SF

      New Construction Retail/Office/Medical Space

      New construction retail, office, or medical space for lease.
      2307 Sandoval Blvd, Cape Coral, FL 33991
      View Details
    • $700 /Mo
      25,003 SF

      Cape Coral Professional Office Suite

      Professional office suite with included utilities and shared amenities.
      618 SW 3Rd St, Cape Coral, FL 33991
      View Details
    • $35 SF/Yr
      10,400 SF

      Prime Medical Retail Space, Cape Coral

      10,400 SF, Class A, Pre-leasing Now
      122 Chiquita Blvd, Cape Coral, FL 33991
      View Details
    • Contact for pricing

      Pine Island Road Commercial Land

      Commercial land available for ground lease or build-to-suit.
      2451 SW Pine Island Rd, Cape Coral, FL 33991
      View Details
    • Contact for pricing

      Commercial Land at Signalized Intersection

      Commercial land for rent with excellent visibility and high traffic.
      513 Southwest Pine Island Rd, Cape Coral, FL 33991
      View Details
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    Cape Coral, FL 33991-2031
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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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