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

    251 Cres St Fort Myers Beach, FL 33931

    • Commercial land
    • 26,751 SF
    • 2.29 lot acres
    OFF-MARKET
    Last Sale
    Aug 13, 2021
    $7,200,000
    Value Estimations
    $7,060,000
    Show details
    Cap Rate Potential
    4.7%
    Commercial land
    Location Intelligence
    Property ID
    US18-3577968
    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

    • Coconut telegraph coffee shop / Coffee Shop
    • Aloha Sportfishing / Fishing Charter
    • Sunset Terrace at Margaritaville Resort / American Restaurant
    • Margaritaville Beach Resort Fort Myers Beach / Hotel / Resort Hotel
    • St. Somewhere Spa / Spa / Day Spa

    Property Details for 251 Cres St

    Year built
    1947
    Construction
    MASONRY/CONCRETE MASONRY UNITS (CMUS)
    Lot size
    2.29 lot acres
    Property size
    26,751 SF
    Zone code
    CPD
    Property type
    Commercial land
    APN
    24-46-23-W3-00006.0000
    APU
    244623W3000060000

    Value Estimations

    based on Realmo’s proprietary methodology

    • AI approach

      Method
      Estimation
      Statistic approach
      $7,060,000
      ML approach
      $6,950,000

    • CAP approach

      CAP Return
      Estimation
      6%
      $5,500,000
      6.5%
      $5,080,000
      7%
      $4,715,000

    • Comparable approach

      Method
      Estimation
      AI Estimate
      $6,891,000
      Market price range: $2.50M - $14.2M

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

    Location Insight

    • Map
    • Local Demand
    City
    Fort Myers Beach
    County
    Lee
    State
    Florida
    Longitude
    -81.9541
    Latitude
    26.4533
    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
    $97,340
    $7,574,516
    $0.00
    $7,574,516
    -
    $7,574,516
    $0.00
    $7,574,516

    Comparable in this City

    • Value Estimation by Request
      0.75 Acres

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    • Value Estimation by Request
      0.00 Acres

      Fishermans Wharf

      VACANT COMMERCIAL LAND • 0.00 Acres
      Fishermans Wharf, Fort Myers Beach, FL 33931
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    • Value Estimation by Request
      0.97 Acres

      11320 Summerlin Sq Dr

      VACANT COMMERCIAL LAND • 0.97 Acres
      11320 Summerlin Sq Dr, Fort Myers Beach, FL 33931-5300
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    • Value Estimation by Request
      0.61 Acres

      809 Buttonwood Dr

      VACANT COMMERCIAL LAND • 1,815 SF
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      890 Buttonwood Dr

      VACANT COMMERCIAL LAND • 0.19 Acres
      890 Buttonwood Dr, Fort Myers Beach, FL 33931
      View Details
    • Value Estimation
      $2,435,000
      0.43 Acres

      2700 Estero Blvd

      VACANT COMMERCIAL LAND • 5,413 SF
      2700 Estero Blvd, Fort Myers Beach, FL 33931-3503
      View Details

    Similar Nearby for Sale

    • $596,000
      0.26 Acres

      Fort Myers Beach Commercial Parcel

      Commercial land parcel near beaches, dining, and million-dollar homes.
      752 San Carlos Dr, Fort Myers Beach, FL 33931
      View Details
    • $1,955,000
      0.27 Acres

      Prime Commercial Corner on Estero

      High-profile commercial land near Margaritaville Resort and Times Square.
      2171 Estero Blvd, Fort Myers Beach, FL 33931
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    • $5,500,000
      0.30 Acres

      Beachfront Commercial Land Opportunity

      Rare commercially zoned beachfront property on Fort Myers Beach.
      4360 Estero Blvd, Fort Myers Beach, FL 33931
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    • $1,900,000
      0.23 Acres

      Prime Fort Myers Beach Corner Lot

      High-visibility commercial land on Fort Myers Beach's main corridor.
      2450 Estero Blvd, Fort Myers Beach, FL 33931
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    • $725,000

      Prime Commercial Land Opportunity

      Coveted commercial land near Margaritaville Resort and Times Square.
      2101 Estero Blvd, Fort Myers Beach, FL 33931
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    • $1,500,000
      0.42 Acres

      Fort Myers Beach Vacant Land

      Vacant lot near the beach, ideal for building or investment.
      7902 Estero Blvd, Fort Myers Beach, FL 33931
      View Details

    Similar Nearby for Lease

    • Contact for pricing

      Commercial Land For Rent

      Commercial land with drive-thru opportunity in renovated plaza.
      17260 San Carlos Blvd, Fort Myers Beach, FL 33931
      View Details
    • Contact for pricing
      14,500 SF

      Freestanding Retail and Restaurant Building

      Olde Florida-style building with retail and restaurant space for lease.
      17650 San Carlos Blvd, Fort Myers Beach, FL 33931
      View Details
    • Contact for pricing
      41,058 SF

      Fort Myers Beach Retail Plaza

      Prime Retail Space, Newly Renovated
      17284 San Carlos Blvd, Fort Myers Beach, FL 33931
      View Details
    • $20 SF/Yr
      1,452 SF

      Retail Center on San Carlos Boulevard

      Retail spaces available in renovated Fort Myers Beach shopping center.
      17260-17284 San Carlos Blvd, Fort Myers Beach, FL 33931
      View Details
    • $20 SF/Yr
      2,700 SF

      Retail Center on San Carlos Boulevard

      Retail spaces available in renovated Fort Myers shopping center.
      17264 San Carlos Blvd, Fort Myers Beach, FL 33931
      View Details
    • $40 SF/Yr
      72,333 SF

      Santini Marina Plaza: Fort Myers Beach Retail

      Prime Beachfront Retail Space Available
      7205 Estero Blvd, Fort Myers Beach, FL 33931
      View Details
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    251 Cres St
    Fort Myers Beach, FL 33931
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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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