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Property profile & analytics
OFF-MARKET
Estimated value
$5,275,000
Drug stores
2409 Santa Barbara Blvd Cape Coral, FL 33914-4482
Entity Owned
3-yr Hold
Free & Clear
Property ID
US18-4311950
Property profile
Verified
Property type
Drug stores
Use group
DRUG STORE, PHARMACY
Year built
2002
Construction
MASONRY/CONCRETE MASONRY UNITS (CMUS)
Total area
15,706 SF
Lot
1.9 ac (82,720 SF)
Zoning code
C-1
APN
36-44-23-C1-00926.0010
UPID
US18-4311950
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
-
Cardtronics Atm
-
Walgreens Cosmetic Store
-
Walgreens Pharmacy Pharmacy
-
COVID-19 Drive-Thru Testing at Walgreens Medical Laboratory
-
FedEx OnSite Postal Service Courier Service
Value estimations
Realmo proprietary · 4 methods
AI Approach
AI
$5.35M
CAP Approach
CAP
$3.65M
Comparable Approach
Comparable
$7.21M
Blend (final)
Blend
$5.28M
Owner & transaction history
Project Summit Fund V LLC · 3 yrs held
Project Summit Fund V LLC
since 2022
Last sale
$5.2M
6 recorded transactions
Zoning & alternative use
C-1 · Cape Coral, FL
Permitted uses
Permitted uses
Allowed · conditional · prohibited
Top alternative use upside
Restaurant
$7.2M
+51.3%
Commercial (general)
$6.3M
+31.0%
Neighborhood: shopping center
$5.8M
+20.4%
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 Cape Coral submarket · NOI estimate · Typical band, median & reading
Implied cap rate, NOI & submarket benchmark
Cap vs Cape Coral 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
$5,410,000
ML approach
$5,350,000
CAP Approach
CAP Return
Estimation
6%
$3,945,000
6.5%
$3,645,000
7%
$3,385,000
Alternative Use
Use
Estimation
RETAIL STORES
$4,780,000
Current use
RESTAURANT
$7,230,000
Change: +51% · Conversion: Easy
COMMERCIAL (GENERAL)
$6,260,000
Change: +31% · Conversion: Easy
NEIGHBORHOOD: SHOPPING CENTER
$5,755,000
Change: +20% · Conversion: Moderate
MEDICAL BUILDING
$4,825,000
Change: +1% · Conversion: Difficult
Blend value · Realmo final
$5.28M
Range $4.75M – $5.80M · ±10% · vs last sale $5.18M (Aug 31 2022)
Last sale anchor
$5.18M
Aug 31 2022
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
$336 / 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
$79,961
Tax year 2023
Assessed value
$4,795,126
Assessed 2023
Previous assessed
$4,570,831
+4.9% YoY
Effective rate
1.67%
On assessed value
Assessed land
$3,201,512
Assessed improvement
$1,593,614
Land market value
$3,201,512
Improvement market value
$1,593,614
Total market value
$4,795,126
Applied tax rate
57.0000
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
Drug stores
Use group
DRUG STORE, PHARMACY
Status
Off-Market
Year built
2002
Construction
MASONRY/CONCRETE MASONRY UNITS (CMUS)
Heating
FORCED AIR
Cooling
AC.PACKAGE
Stories
1
Total area
15,706 SF
Lot
1.9 ac (82,720 SF)
Zoning code
C-1
APN
36-44-23-C1-00926.0010
UPID
US18-4311950
Jurisdiction
LEE
Zoning & alternative use
C-1 · Cape Coral, FL
Zoning C-1 · permitted uses
C-1 · Cape Coral, FL
Permitted & conditional uses
Allowed uses · Special-permit conditions · Prohibited uses
Permitted & conditional uses
Allowed · special-permit conditions · prohibited
Cape Coral. Always verify with local authorities before improvements.
Alternative use value scenarios
Repositioning upside vs current use
RETAIL STORES Current
Est. value
$4.8M
RESTAURANT
Est. value
$7.2M
COMMERCIAL (GENERAL)
Est. value
$6.3M
NEIGHBORHOOD: SHOPPING CENTER
Est. value
$5.8M
MEDICAL BUILDING
Est. value
$4.8M
RETAIL STORES Current
RESTAURANT
COMMERCIAL (GENERAL)
NEIGHBORHOOD: SHOPPING CENTER
MEDICAL BUILDING
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
2002
Construction
MASONRY/CONCRETE MASONRY UNITS (CMUS)
Heating
FORCED AIR
Cooling
Yes
Stories
1
Lot
1.9 ac
Current owner
From public records · entity-resolved
Project Summit Fund V LLC
Entity
Free & Clear · 3 yrs held
Mailing address
30 N LA SALLE ST STE #4140, CHICAGO, IL 60602-2900
Ownership since
2022
Owner contacts — direct phone, email, and related entities
Decision-maker phone · Verified email · Related entities & filings
Owner contacts
Email · phone · related entities
Sales History
6 recorded events · public records
Date
Price
Buyer
Seller
Deed Type
Mortgage
Aug 31, 2022
$5,175,000
Project Summit Fund V LLC
Walgreen Co
Special Warranty Deed
—
Aug 31, 2022
—
Walgreen Co
Project Summit Fund V LLC
Lease
—
Feb 11, 2003
$3,830,400
Walgreen Co
Santa Barbara & 24th Street Lc
Grant Deed
—
May 15, 2002
$1,507,400
Santa Barbara & 24th St LLC
Hinks,donald E
Grant Deed
$3,447,000 · Bank Of America
Mar 29, 2002
—
Cape Coral City (fl)
Hinks,donald E
Grant Deed
related
—
Aug 20, 1999
$170,000
Donald E Hinks
Decastro,jose H & Leticia A
Grant Deed
$135,000 · 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.
Try Rey
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