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    Property profile & analytics

    21950 Tamiami Trl Estero, FL 33928-3231

    • Drug stores
    • 16,567 SF
    • 2.01 lot acres
    OFF-MARKET
    Last Sale
    Jan 05, 2022
    $7,410,000
    Value Estimations
    $7,555,000
    Show details
    Cap Rate Potential
    2.8%
    Drug stores
    Location Intelligence
    Property ID
    US18-8274631
    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

    • Walgreens / Pharmacy
    • Walgreens Pharmacy / Pharmacy
    • Walgreens Photo / (Bike/Boat/Book/etc) Store
    • FedEx OnSite / Postal Service / Courier Service
    • COVID-19 Drive-Thru Testing at Walgreens / Pharmacy

    Property Details for 21950 Tamiami Trl

    Year built
    2007
    Construction
    MASONRY/CONCRETE MASONRY UNITS (CMUS)
    Lot size
    2.01 lot acres
    Property size
    16,567 SF
    Zone code
    MPD
    Property type
    Drug stores
    APN
    33-46-25-E3-28007.0000
    APU
    334625E3280070000

    Value Estimations

    based on Realmo’s proprietary methodology

    • AI approach

      Method
      Estimation
      Statistic approach
      $7,630,000
      ML approach
      $7,765,000

    • Comparable approach

      Method
      Estimation
      Statistic Estimate
      $6,091,000
      Market price range: $2.61M - $8.50M

    • Alternative Use

      Use
      Estimation
      RETAIL STORES
      $5,205,000
      Current use
      AUTO REPAIR, GARAGE
      $11,680,000
      Change: +124% Conversion: Difficult
      COMMERCIAL (GENERAL)
      $10,285,000
      Change: +98% Conversion: Easy
      RESTAURANT
      $9,585,000
      Change: +84% Conversion: Easy
      OFFICE BUILDING
      $7,920,000
      Change: +52% Conversion: Easy
      NEIGHBORHOOD: SHOPPING CENTER
      $5,660,000
      Change: +9% Conversion: Moderate
      MEDICAL BUILDING
      $4,735,000
      Change: -9% Conversion: Difficult

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

    Location Insight

    • Map
    • Local Demand
    City
    Estero
    County
    Lee
    State
    Florida
    Longitude
    -81.8123
    Latitude
    26.4208
    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
    $60,086
    $3,315,362
    $1,657,802
    $4,973,164
    -
    $3,315,362
    $1,657,802
    $4,973,164

    Comparable in this City

    • Value Estimation
      $3,105,000
      16,375 SF

      11241 Miromar Sq Blvd

      DRUG STORE, PHARMACY • 16,375 SF
      11241 Miromar Sq Blvd, Estero, FL 33928-6229
      View Details
    • Value Estimation
      $2,175,000
      3,450 SF

      10371 Corkscrew Cmns Dr

      CONVENIENCE STORE • 3,450 SF
      10371 Corkscrew Cmns Dr, Estero, FL 33928-9420
      View Details
    • Value Estimation by Request
      3,915 SF

      19611 Highland Oaks Dr

      FINANCIAL BUILDING • 3,915 SF
      19611 Highland Oaks Dr, Estero, FL 33928-9631
      View Details
    • Value Estimation
      $10,780,000
      29,896 SF

      19990 Tamiami Trl

      GROCERY, SUPERMARKET • 29,896 SF
      19990 Tamiami Trl, Estero, FL 33928-2258
      View Details
    • Value Estimation
      $2,395,000
      12,394 SF

      21700 Tamiami Trl

      RETAIL STORES (PERSONAL SERVICES) • 12,394 SF
      21700 Tamiami Trl, Estero, FL 33928-3920
      View Details
    • Value Estimation
      $4,845,000
      4,755 SF

      3501 Vandenberg Way

      FINANCIAL BUILDING • 4,755 SF
      3501 Vandenberg Way, Estero, FL 33928-6601
      View Details

    Similar Nearby for Sale

    • $440,000

      Land For Sale

      Land available for sale.
      21995 Carter Rd, Estero, FL 33928
      View Details
    • $700,000
      5.00 Acres

      Estero Commercial Land - 5 Acres

      Prime 5-acre commercial lot, ideal for development.
      18125 Dykes Rd, Estero, FL 33928
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    • Contact for pricing
      Pending

      Corner Lot in Estero Springs

      0.26-acre corner lot in Estero, no HOA fees.
      Rio Vis St, Estero, FL 33928
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      Land on Corkscrew Road

      Commercial land with high traffic frontage on Corkscrew Road.
      9201 Corkscrew Rd, Estero, FL 33928
      View Details
    • Contact for pricing
      18,000 SF

      Land Available in Estero, FL

      Commercial land for sale at Three Oaks and Corkscrew.
      10251 Arcos Ave, Estero, FL 33928
      View Details
    • $42,000

      Land in 55+ Community

      Land in Cypress Bend, a well-maintained 55+ community.
      8611 Mullwood Dr, Estero, FL 33928
      View Details

    Similar Nearby for Lease

    • Contact for pricing
      1,832 SF

      Retail Space on Tamiami Trail

      Retail space available in high-traffic Estero center.
      21301 S Tamiami Trl, Estero, FL 33928
      View Details
    • $42 SF/Yr
      7,800 SF

      Estero Retail Space For Lease

      Prime Estero location, 7,800 sq ft, 2 suites.
      22941 Lyden Dr, Estero, FL 33928
      View Details
    • $14 SF/Yr
      19,087 SF

      Retail/Office Suites on S Tamiami Trail

      Suites suitable for retail or office use on S Tamiami Trail.
      19970 S Tamiami Trl, Estero, FL 33928
      View Details
    • Contact for pricing
      5,433 SF

      Retail Space in Estero, FL

      Retail space available for rent in Estero, Florida.
      20041 S Tamiami Trl, Estero, FL 33928
      View Details
    • Contact for pricing
      2,700 SF

      Publix-Anchored Retail Space Available

      Retail space in a Publix-anchored neighborhood center.
      19008-19050 Corkscrew Rd, Estero, FL 33928
      View Details
    • Contact for pricing
      10,000 SF

      Horizon Park Retail Center: Bonita Springs

      Prime Retail Space: I-75 & Bonita Beach Rd
      I-75 & Bonita Bch Rd, Bonita Springs, FL 33928
      View Details
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    Estero, FL 33928-3231
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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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