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Property profile & analytics
OFF-MARKET
Estimated value
$2,125,000
Warehouses
3111 Cleveland Ave Fort Myers, FL 33901-7006
Entity Owned
13-yr Hold
Free & Clear
Property ID
US18-2892440
Property profile
Verified
Property type
Warehouses
Use group
MINI-WAREHOUSE, STORAGE
Year built
1998
Construction
STEEL FRAME
Total area
17,765 SF
Lot
2.94 ac (128,197 SF)
Zoning code
C1
APN
25-44-24-P1-0120E.0010
UPID
US18-2892440
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
-
life storage, Life Storage Facility
-
Life Storage - Fort Myers Storage Facility
-
Tree Service Experts Fort Myers Landscaping General Contractor
Value estimations
Realmo proprietary · 4 methods
AI Approach
AI
by Request
CAP Approach
CAP
$2.88M
Comparable Approach
Comparable
$2.96M
Blend (final)
Blend
$2.13M
Owner & transaction history
Sovran Acquisition LP · 13 yrs held
Sovran Acquisition LP
since 2013
2 recorded transactions
Zoning & alternative use
C1 · Fort Myers, FL
Permitted uses
Permitted uses
Allowed · conditional · prohibited
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 Fort Myers submarket · NOI estimate · Typical band, median & reading
Implied cap rate, NOI & submarket benchmark
Cap vs Fort Myers 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
by Request
ML approach
by Request
CAP Approach
CAP Return
Estimation
6%
$3,125,000
6.5%
$2,880,000
7%
$2,675,000
Alternative Use
Use
Estimation
WAREHOUSE, STORAGE
$1,585,000
Current use
Blend value · Realmo final
$2.13M
Range $1.91M – $2.34M · ±10%
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
$120 / 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
$56,469
Tax year 2023
Assessed value
$4,729,497
Assessed 2023
Previous assessed
$4,729,497
+0.0% YoY
Effective rate
1.19%
On assessed value
Assessed land
$1,478,163
Assessed improvement
$3,251,334
Land market value
$1,478,163
Improvement market value
$3,251,334
Total market value
$4,729,497
Applied tax rate
258.0000
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
Warehouses
Use group
MINI-WAREHOUSE, STORAGE
Status
Off-Market
Year built
1998
Construction
STEEL FRAME
Heating
FORCED AIR
Cooling
AC.PACKAGE
Buildings
7
Stories
1
Bathrooms
2
Total area
17,765 SF
Lot
2.94 ac (128,197 SF)
Zoning code
C1
APN
25-44-24-P1-0120E.0010
UPID
US18-2892440
Jurisdiction
LEE
Zoning & alternative use
C1 · Fort Myers, FL
Zoning C1 · permitted uses
C1 · Fort Myers, FL
Permitted & conditional uses
Allowed uses · Special-permit conditions · Prohibited uses
Permitted & conditional uses
Allowed · special-permit conditions · prohibited
Fort Myers. Always verify with local authorities before improvements.
Alternative use value scenarios
Repositioning upside vs current use
WAREHOUSE, STORAGE Current
Est. value
$1.6M
WAREHOUSE, STORAGE Current
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
1998
Construction
STEEL FRAME
Heating
FORCED AIR
Cooling
Yes
Stories
1
Buildings
7
Bathrooms
2
Lot
2.94 ac
Current owner
From public records · entity-resolved
Sovran Acquisition LP
Entity
Free & Clear · 13 yrs held
Mailing address
PO BOX 71870, SALT LAKE CITY, UT 84171-0870
Ownership since
2013
Owner contacts — direct phone, email, and related entities
Decision-maker phone · Verified email · Related entities & filings
Owner contacts
Email · phone · related entities
Sales History
2 recorded events · public records
Date
Price
Buyer
Seller
Deed Type
Mortgage
Jan 3, 2013
$2,105,000
Sovran Acquisition LP
Cleveland Storage Ptshp LLP
Grant Deed
—
Sep 22, 1997
$800,000
Cleveland Storage Partnership
Fort Myers Trailer Park
Grant Deed
$1,600,000 · First Union National Bank
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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