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

    3131 E Riverside Dr Fort Myers, FL 33916

    • Investment properties
    • 12,823 SF
    • 1.06 lot acres
    For Sale
    View listing
    $3,795,000
    Value Estimations
    Cap Rate Potential
    Location Intelligence
    Property ID
    US19-0520058
    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

    • Digital Date Destruction / Computer & Electronic Repair / (Bike/Boat/Book/etc) Store
    • Jacks Place Fort Myers / Corporate Office
    • CD Rom, Inc / IT Consulting Firm / (Bike/Boat/Book/etc) Store
    • eTriage, Inc. / Tech Support Center / (Bike/Boat/Book/etc) Store
    • Home Pros / Roofing Company / General Contractor

    Property Details for 3131 E Riverside Dr

    Year built
    1935
    Construction
    MASONRY/CONCRETE MASONRY UNITS (CMUS)
    Lot size
    1.06 lot acres
    Property size
    12,823 SF
    Zone code
    CG
    Property type
    Investment properties
    Property subtype
    Retail residential properties
    APN
    07-44-25-P4-00109.0080
    APU
    074425P4001090080

    Description

    This exceptional 24,700-square-foot industrial property, located at 3131 E Riverside Dr in Fort Myers, Florida, presents a unique investment opportunity. Situated on a 1.06-acre lot (plus an additional 0.41 acres across the street), this single-story building boasts a prime location on the Caloosahatchee River, close to the historic Downtown River District. Built in 1935 and extensively renovated in 2023, the property features a new Firestone TPO roof with a multi-year warranty on the waterfront office sections, new 175mph hurricane-resistant windows with a lifetime warranty, and new HVAC systems installed post-Hurricane Ian. Modern upgrades include LED lighting and high-speed WiFi with Google Nest integration. The property includes 8 roadside parking spaces and 6 spaces within a gated, fenced, and security-lit area. An adjacent lot, recently purchased by the City of Fort Myers, is planned for dredging a river channel, and there are plans for additional parking on an adjacent lot if needed. The property also features a rooftop terrace. The property is zoned CG (Commercial General), with the adjacent lot zoned RM16. The 2023 property taxes were $15,388. Available for sale at $4,795,000 or for lease

    Value Estimations

    based on Realmo’s proprietary methodology

    • Comparable approach

      Method
      Estimation
      Statistic Estimate
      $1,380,000
      Market price range: $1.29M - $10.8M
      AI Estimate
      $1,621,000
      Market price range: $1.62M - $7.90M

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

    Location Insight

    • Map
    • Local Demand
    City
    Fort Myers
    County
    Lee
    State
    Florida
    Longitude
    -81.852
    Latitude
    26.6581
    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
    $15,864
    $583,165
    $10
    $583,175
    -
    $583,165
    $10
    $583,175

    Comparable in this City

    • Value Estimation by Request
      1,908 SF

      3164 Palm Bch Blvd

      STORE/OFFICE (MIXED USE) • 1,908 SF
      3164 Palm Bch Blvd, Fort Myers, FL 33916-1579
      View Details
    • Value Estimation by Request
      2,280 SF

      3628 Washington Ave

      STORE/OFFICE (MIXED USE) • 2,280 SF
      3628 Washington Ave, Fort Myers, FL 33916-1703
      View Details
    • Value Estimation by Request
      1,471 SF

      3575 Dr Martin Luther King Blvd

      STORE/OFFICE (MIXED USE) • 1,471 SF
      3575 Dr Martin Luther King Blvd, Fort Myers, FL 33916-4649
      View Details
    • Value Estimation by Request
      1,910 SF

      3071 Dr Martin Luther King Blvd

      STORE/OFFICE (MIXED USE) • 1,910 SF
      3071 Dr Martin Luther King Blvd, Fort Myers, FL 33916-4163
      View Details
    • Value Estimation by Request
      2,313 SF

      3445 Palm Bch Blvd

      STORE/OFFICE (MIXED USE) • 2,313 SF
      3445 Palm Bch Blvd, Fort Myers, FL 33916-3719
      View Details
    • Value Estimation by Request
      1,836 SF

      2259 Henderson Ave

      STORE/OFFICE (MIXED USE) • 1,836 SF
      2259 Henderson Ave, Fort Myers, FL 33916-4523
      View Details

    Similar Nearby for Sale

    • $6,500,000
      60,100 SF

      Fort Myers Investment Opportunity

      NNN leased investment property with long-term tenant in Fort Myers.
      2820 Cargo St, Fort Myers, FL 33916
      View Details
    • $3,795,000
      1.06 Acres

      Fort Myers Live/Work Opportunity

      Fenced property with security, new roof, and hurricane windows.
      3131 E Riverside Dr, Fort Myers, FL 33916
      View Details
    • $5,950,000
      24,900 SF

      Fort Myers Mixed-Use Investment

      24-unit multifamily, retail complex, high ROI.
      2741 1St St, Fort Myers, FL 33916
      View Details
    • $4,795,000
      24,700 SF

      Riverside Drive Industrial Property

      Fort Myers flex space, riverfront location.
      3131 Riverside Dr, Fort Myers, FL 33916
      View Details
    • $650,000
      0.70 Acres

      3159 Dr Martin Luther King Jr Blvd

      Land • 0.70 Acres
      3159 Dr Martin Luther King Jr Blvd, Fort Myers, FL 33916
      View Details
    • $2,295,000
      8.17 Acres

      Fort Myers Industrial Land - 8 Acres

      Prime 8-acre industrial site, ideal for outdoor storage.
      3960 Canal St, Fort Myers, FL 33916
      View Details

    Similar Nearby for Lease

    • 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
    • $25 SF/Yr
      59,579 SF

      Fort Myers Executive Office Suites

      Prime Fort Myers location, modern office space.
      4210 Metro Pkwy, Fort Myers, FL 33916
      View Details
    • $15 SF/Yr
      67,197 SF

      Fort Myers Industrial Portfolio

      Multi-tenant flex space, Lee County.
      2853-2861 Work Dr, Fort Myers, FL 33916
      View Details
    • Contact for pricing
      50,000 SF

      Fort Myers Build-to-Suit Opportunity

      IL-zoned land suitable for a custom industrial facility.
      3750 Veronica S Shoemaker Blvd, 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
    • $13 SF/Yr
      25,000 SF

      Hanson Street Industrial Flex Space

      Versatile 5,000 SF warehouse; prime location.
      3350 Hanson St, Fort Myers, FL 33916
      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.
    3131 E Riverside Dr
    Fort Myers, FL 33916
    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.