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

    2940 Walpear St Fort Myers, FL 33916-7549

    • Flex space
    • 13,320 SF
    • 0.94 lot acres
    OFF-MARKET
    Value Estimations
    $405,000
    Show details
    Cap Rate Potential
    Location Intelligence
    Property ID
    US18-3859331
    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

    • Siltco Manufacturing / Manufacturer
    • HP Demolition / Demolition Contractor

    Property Details for 2940 Walpear St

    Year built
    1969
    Construction
    MASONRY/CONCRETE MASONRY UNITS (CMUS)
    Lot size
    0.94 lot acres
    Property size
    13,320 SF
    Zone code
    IL
    Property type
    Flex space
    APN
    30-44-25-P1-00100.0260
    APU
    304425P1001000260

    Value Estimations

    based on Realmo’s proprietary methodology

    • AI approach

      Method
      Estimation
      ML approach
      $340,000

    • Comparable approach

      Method
      Estimation
      AI Estimate
      $470,000
      Market price range: $384k - $1.51M

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

    Location Insight

    • Map
    • Local Demand
    City
    Fort Myers
    County
    Lee
    State
    Florida
    Longitude
    -81.853
    Latitude
    26.6205
    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
    $11,350
    $94,468
    $522,949
    $617,417
    -
    $94,468
    $522,949
    $617,417

    Comparable in this City

    • Value Estimation
      $1,260,000
      26,412 SF

      3945 Edison Ave

      LIGHT INDUSTRIAL • 26,412 SF
      3945 Edison Ave, Fort Myers, FL 33916-4801
      View Details
    • Value Estimation
      $550,000
      11,240 SF

      2900 Hunter St

      LIGHT INDUSTRIAL • 11,240 SF
      2900 Hunter St, Fort Myers, FL 33916-7608
      View Details
    • Value Estimation
      $2,060,000
      9,800 SF

      3769 Ironbridge Blvd

      LIGHT INDUSTRIAL • 9,800 SF
      3769 Ironbridge Blvd, Fort Myers, FL 33916-6541
      View Details
    • Value Estimation
      $300,000
      2,132 SF

      2700 Rockfill Rd

      LIGHT INDUSTRIAL • 2,132 SF
      2700 Rockfill Rd, Fort Myers, FL 33916-4847
      View Details
    • Value Estimation
      $110,000
      5,134 SF

      2782 Frd St

      LIGHT INDUSTRIAL • 5,134 SF
      2782 Frd St, Fort Myers, FL 33916-5520
      View Details
    • Value Estimation
      $1,800,000
      9,720 SF

      3744 Ironbridge Blvd

      LIGHT INDUSTRIAL • 9,720 SF
      3744 Ironbridge Blvd, Fort Myers, FL 33916-6508
      View Details

    Similar Nearby for Sale

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      Functional Industrial Building on Metro

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      Fort Myers Industrial Land - 8 Acres

      Prime 8-acre industrial site, ideal for outdoor storage.
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      12,300 SF

      Industrial Property in Fort Myers

      Industrial property with highway access in Fort Myers, Florida.
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    • $2,600,000
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      10,500 SF warehouse/distribution facility on corner lot for sale.
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      View Details

    Similar Nearby for Lease

    • $15 SF/Yr
      67,197 SF

      Fort Myers Industrial Portfolio

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      View Details
    • $15 SF/Yr
      1,140 SF

      Industrial Flex Space Available

      Multi-tenant industrial flex park with grade-level doors for lease.
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      View Details
    • $13 SF/Yr
      25,000 SF

      Hanson Street Industrial Flex Space

      Versatile 5,000 SF warehouse; prime location.
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      View Details
    • Contact for pricing
      4,560 SF

      Industrial Flex Space Available

      Multi-tenant industrial flex park with grade-level doors for rent.
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      View Details
    • Contact for pricing
      99,317 SF

      Fort Myers Industrial Land for Sale

      2.28 Acres, Heavy Industrial, Secure Yard
      3401 Old Metro Pkwy, Fort Myers, FL 33916
      View Details
    • $13 SF/Yr
      42,220 SF

      Industrial Building on 2.76 Acres

      Industrial building featuring office space, dock doors, and sprinkler system.
      3661 Ironbridge Blvd, Fort Myers, FL 33916
      View Details
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    Fort Myers, FL 33916-7549
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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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