Sign Up Successful!
You now have access to more from Realmo!
Property Lookup
    Property Lookup
    • For Sale
    • For Lease
    • Recently Sold
    • Property Lookup
    • Brokers
    AI Search
    Back to Search
    The Largest CRE Database in the US with Over 1 Million Listings
    Property profile & analytics

    2771 Royal Palm Ave Fort Myers, FL 33901-6322

    • Commercial land
    • 0.90 lot acres
    OFF-MARKET
    Last Sale
    Nov 03, 2020
    $350,000
    Value Estimations
    Cap Rate Potential
    Location Intelligence
    Property ID
    US18-0316051
    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

    • Royal Palm Apartments / Apartment Building

    Property Details for 2771 Royal Palm Ave

    Lot size
    0.90 lot acres
    Zone code
    C1
    Property type
    Commercial land
    APN
    24-44-24-P3-0260E.0100
    APU
    244424P30260E0100

    Value Estimations

    based on Realmo’s proprietary methodology

    • AI approach

    • CAP approach

    • Comparable approach

    • Alternative Use

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

    Location Insight

    • Map
    • Local Demand
    City
    Fort Myers
    County
    Lee
    State
    Florida
    Longitude
    -81.8628
    Latitude
    26.6267
    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
    $7,171
    $348,021
    $0.00
    $348,021
    -
    $348,021
    $0.00
    $348,021

    Comparable in this City

    • Value Estimation by Request
      0.28 Acres

      2538 2nd St

      VACANT COMMERCIAL LAND • 0.28 Acres
      2538 2nd St, Fort Myers, FL 33901-2518
      View Details
    • Value Estimation by Request
      0.21 Acres

      2531 4th St

      VACANT COMMERCIAL LAND • 0.21 Acres
      2531 4th St, Fort Myers, FL 33901-2507
      View Details
    • Value Estimation by Request
      0.27 Acres

      1802 Broadway

      VACANT COMMERCIAL LAND • 0.27 Acres
      1802 Broadway, Fort Myers, FL 33901-3016
      View Details
    • Value Estimation by Request
      0.18 Acres

      2237 Royal Palm Ave

      VACANT COMMERCIAL LAND • 0.18 Acres
      2237 Royal Palm Ave, Fort Myers, FL 33901-3813
      View Details
    • Value Estimation by Request
      0.12 Acres

      2113 Cottage St

      VACANT COMMERCIAL LAND • 0.12 Acres
      2113 Cottage St, Fort Myers, FL 33901-3614
      View Details
    • Value Estimation by Request
      0.30 Acres

      2217 Clifford St

      VACANT COMMERCIAL LAND • 0.30 Acres
      2217 Clifford St, Fort Myers, FL 33901
      View Details

    Similar Nearby for Sale

    • $550,000

      Corner Commercial Site Near Edison Mall

      1.04 acre commercial site adjacent to Edison Mall.
      2313 E Mall Dr, Fort Myers, FL 33901
      View Details
    • $2,200,000
      4.14 Acres

      Fort Myers Commercial Development Opportunity

      4.13-acre commercial land with development potential in Fort Myers, Florida.
      2745 Swamp Cabbage Ct, Fort Myers, FL 33901
      View Details
    • $3,000,000
      36,023 SF

      Prime Fort Myers Commercial Land

      Versatile land in Fort Myers, ideal for retail or commercial.
      2270 Cleveland Ave, Fort Myers, FL 33901
      View Details
    • $10,000,000

      Fort Myers City Block Opportunity

      Investment property with redevelopment potential near downtown Fort Myers.
      2203-2275 Fowler St, Fort Myers, FL 33901
      View Details
    • $79,900
      0.15 Acres

      Commercial Lot Near US 41

      Commercial lot near shopping, medical facilities, and downtown Fort Myers.
      1928 Jefferson Ave, Fort Myers, FL 33901
      View Details
    • $139,000
      0.21 Acres

      Downtown McGregor Residential/Commercial Lot

      Quarter-acre lot in historic downtown McGregor, suitable for residential or commercial.
      2317 Altamont Ave, Fort Myers, FL 33901
      View Details

    Similar Nearby for Lease

    • $16 SF/Yr
      16,000 SF

      Fort Myers Industrial Outdoor Storage

      16,000 SF industrial facility on 2.75 AC lot.
      3065 Cranford Ave, Fort Myers, FL 33901
      View Details
    • $10 SF/Yr
      35,735 SF

      Bottle Brush Center: Fort Myers Office

      Prime Fort Myers medical/office suites available.
      3660 Central Ave, Fort Myers, FL 33901
      View Details
    • $300 /Mo
      8,630 SF

      Downtown Fort Myers Office Space

      1,100 SF office space in a vibrant downtown location.
      1922 Victoria Ave, Fort Myers, FL 33901
      View Details
    • $16 SF/Yr
      14,500 SF

      Fort Myers Medical/Professional Office

      Multi-tenanted office building in central Fort Myers available for lease.
      3745 Broadway, Fort Myers, FL 33901
      View Details
    • $13 SF/Yr
      22,062 SF

      Prime Medical Office Space, Fort Myers

      Three-building medical office complex with ample parking.
      3677 Central Ave, Fort Myers, FL 33901
      View Details
    • $15 SF/Yr
      7,507 SF

      Renovated Downtown Retail/Office Space

      Renovated retail and office space in walkable downtown location.
      2180 W 1St St, Fort Myers, FL 33901
      View Details
    Request Owner's contact information
    Message sent successfully
    Error
    If you are the owner or broker of this property and would like to edit or remove this listing please send a message to web site administrator.
    2771 Royal Palm Ave
    Fort Myers, FL 33901-6322
    Message sent successfully
    Error
    Email to Your Friends
    Link copied to clipboard
    Separate multiple addresses with a comma
    Message sent successfully
    Error

    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
    Thanks! Your message was sent.
    Error! Your message wasn't sent.
    Please enter your name
    Please enter email
    Please enter the email in the correct format
    Please enter phone
    Please enter the number in the correct format
    Please enter message
    Thank You

    You are Unsubscribed From Notifications

    Google sign-in failed. Please try again or use another login method.