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Property profile & analytics
OFF-MARKET
Estimated value
$14,020,000
Medical Office Space
2721 Del Prado S Blvd Cape Coral, FL 33904-5781
Entity Owned
5-yr Hold
Free & Clear
Property ID
US18-1094544
Property profile
Verified
Property type
Medical Office Space
Use group
MEDICAL BUILDING
Year built
1995
Construction
STEEL FRAME
Total area
47,660 SF
Lot
3.52 ac (153,252 SF)
Zoning code
C1-D
APN
32-44-24-C1-01184.B000
UPID
US18-1094544
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
-
Cape Coral Medical & Surgical Medical Clinic Hospital
-
Cape Coral Surgery Center Medical Clinic
-
Athletic Orthopedic and Reconstructive Center Medical Clinic Physician
-
University Urology Cape Coral - Dr. Scott Caesar Physician Medical Clinic
-
Dr. Pedro E. Monserrate, MD Physician
Value estimations
Realmo proprietary · 4 methods
AI Approach
AI
$10.47M
CAP Approach
CAP
$9.18M
Comparable Approach
Comparable
$15.74M
Blend (final)
Blend
$14.02M
Owner & transaction history
Welltower 1031 Holdco I LLC · 5 yrs held
Welltower 1031 Holdco I LLC
since 2021
Last sale
$14.0M
7 recorded transactions
Zoning & alternative use
C1-D · Cape Coral, FL
Permitted uses
Permitted uses
Allowed · conditional · prohibited
Top alternative use upside
Restaurant
$21.9M
+50.0%
Commercial (general)
$19.0M
+29.8%
Neighborhood: shopping center
$17.5M
+19.3%
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
$15,890,000
ML approach
$10,465,000
CAP Approach
CAP Return
Estimation
6%
$9,945,000
6.5%
$9,180,000
7%
$8,520,000
Alternative Use
Use
Estimation
MEDICAL BUILDING
$14,635,000
Current use
RESTAURANT
$21,945,000
Change: +50% · Conversion: Difficult
COMMERCIAL (GENERAL)
$18,995,000
Change: +30% · Conversion: Easy
NEIGHBORHOOD: SHOPPING CENTER
$17,455,000
Change: +19% · Conversion: Difficult
Blend value · Realmo final
$14.02M
Range $12.62M – $15.42M · ±10% · vs last sale $14.00M (Jan 28 2021)
Last sale anchor
$14.00M
Jan 28 2021
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
$294 / 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
$203,843
Tax year 2023
Assessed value
$12,571,964
Assessed 2023
Previous assessed
$14,068,220
-10.6% YoY
Effective rate
1.62%
On assessed value
Assessed land
$4,394,578
Assessed improvement
$8,177,386
Land market value
$4,394,578
Improvement market value
$8,177,386
Total market value
$12,571,964
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
Medical Office Space
Use group
MEDICAL BUILDING
Status
Off-Market
Year built
1995
Construction
STEEL FRAME
Heating
FORCED AIR
Cooling
AC.PACKAGE
Stories
2
Total area
47,660 SF
Lot
3.52 ac (153,252 SF)
Zoning code
C1-D
APN
32-44-24-C1-01184.B000
UPID
US18-1094544
Jurisdiction
LEE
Zoning & alternative use
C1-D · Cape Coral, FL
Zoning C1-D · permitted uses
C1-D · 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
MEDICAL BUILDING Current
Est. value
$14.6M
RESTAURANT
Est. value
$21.9M
COMMERCIAL (GENERAL)
Est. value
$19.0M
NEIGHBORHOOD: SHOPPING CENTER
Est. value
$17.5M
MEDICAL BUILDING Current
RESTAURANT
COMMERCIAL (GENERAL)
NEIGHBORHOOD: SHOPPING CENTER
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
1995
Construction
STEEL FRAME
Heating
FORCED AIR
Cooling
Yes
Stories
2
Lot
3.52 ac
Current owner
From public records · entity-resolved
Welltower 1031 Holdco I LLC
Entity
Free & Clear · 5 yrs held
Mailing address
4500 DORR ST, TOLEDO, OH 43615-4040
Ownership since
2021
Owner contacts — direct phone, email, and related entities
Decision-maker phone · Verified email · Related entities & filings
Owner contacts
Email · phone · related entities
Sales History
8 recorded events · public records
Date
Price
Buyer
Seller
Deed Type
Mortgage
Jan 28, 2021
$13,996,600
Welltower 1031 Holdco I LLC
Cape Meadow LLC
Grant Deed
—
Oct 23, 2018
$10,000,000
Cape Meadow LLC
Cape Coral Medical & Surgical
Grant Deed
related
—
May 2, 2017
—
Cape Coral Medical & Surgical
—
Deed
related
$2,829,114 · Suntrust Bk
Jun 10, 2016
—
Cape Coral Medical & Surgical
Cape Coral Medical & Surgical
Quit Claim Deed
—
Jul 27, 2011
—
Cape Coral Medical & Surgical
—
Deed Of Trust
related
$5,604,640 · Suntrust Bank NA
Mar 1, 2005
$2,026,800
Cape Coral Medical & Surgical Suite
Southwest Florida Health System INC
Warranty Deed
$5,604,640 · Suntrust Bank
—
—
Cape Coral Medical & Surgical
—
Loan Modification
related
$2,829,114 · Suntrust Bk
—
—
Cape Coral Medical & Surgical
—
Deed Of Trust
related
$4,053,147 · Suntrust Bank NA
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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