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Property profile & analytics
OFF-MARKET
Estimated value
$1,840,000
Retail space
3477 Dr Martin Luther King Blvd Fort Myers, FL 33916-4403
Entity Owned
14-yr Hold
~
Est. High Equity
Property ID
US18-4218235
Property profile
Verified
Property type
Retail space
Use group
RETAIL STORES (PERSONAL SERVICES)
Year built
2002
Construction
STEEL FRAME
Total area
8,032 SF
Lot
0.74 ac (32,321 SF)
Zoning code
C1
APN
18-44-25-P3-03302.0090
UPID
US18-4218235
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
Value estimations
Realmo proprietary · 4 methods
AI Approach
AI
by Request
CAP Approach
CAP
$1.62M
Comparable Approach
Comparable
$1.92M
Blend (final)
Blend
$1.84M
Owner & transaction history
Cole Fd Portfolio III LLC · 14 yrs held
Cole Fd Portfolio III LLC
since 2012
1 recorded transaction
Zoning & alternative use
C1 · Fort Myers, FL
Permitted uses
Permitted uses
Allowed · conditional · prohibited
Top alternative use upside
Commercial (general)
$2.9M
+37.8%
Office building
$2.2M
+5.2%
Medical building
$2.1M
+2.1%
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%
$1,755,000
6.5%
$1,620,000
7%
$1,505,000
Alternative Use
Use
Estimation
RETAIL STORES
$2,090,000
Current use
COMMERCIAL (GENERAL)
$2,885,000
Change: +38% · Conversion: Easy
OFFICE BUILDING
$2,200,000
Change: +5% · Conversion: Easy
MEDICAL BUILDING
$2,135,000
Change: +2% · Conversion: Difficult
NEIGHBORHOOD: SHOPPING CENTER
$1,900,000
Change: -9% · Conversion: Moderate
Blend value · Realmo final
$1.84M
Range $1.66M – $2.02M · ±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
$229 / 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
$20,033
Tax year 2023
Assessed value
$2,019,763
Assessed 2023
Previous assessed
$1,526,124
+32.3% YoY
Effective rate
0.99%
On assessed value
Assessed land
$526,466
Assessed improvement
$1,493,297
Land market value
$526,466
Improvement market value
$1,493,297
Total market value
$2,019,763
Applied tax rate
268.0000
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
Retail space
Use group
RETAIL STORES (PERSONAL SERVICES)
Status
Off-Market
Year built
2002
Construction
STEEL FRAME
Heating
FORCED AIR
Cooling
AC.PACKAGE
Stories
1
Total area
8,032 SF
Lot
0.74 ac (32,321 SF)
Zoning code
C1
APN
18-44-25-P3-03302.0090
UPID
US18-4218235
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
RETAIL STORES Current
Est. value
$2.1M
COMMERCIAL (GENERAL)
Est. value
$2.9M
OFFICE BUILDING
Est. value
$2.2M
MEDICAL BUILDING
Est. value
$2.1M
NEIGHBORHOOD: SHOPPING CENTER
Est. value
$1.9M
RETAIL STORES Current
COMMERCIAL (GENERAL)
OFFICE BUILDING
MEDICAL BUILDING
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
2002
Construction
STEEL FRAME
Heating
FORCED AIR
Cooling
Yes
Stories
1
Lot
0.74 ac
Current owner
From public records · entity-resolved
Cole Fd Portfolio III LLC
Entity
Mailing address
500 VOLVO PKWY #300, CHESAPEAKE, VA 23320-1604
Mailing matches property
Yes
Owner-occupied
Yes
Ownership since
2012
Owner contacts — direct phone, email, and related entities
Decision-maker phone · Verified email · Related entities & filings
Owner contacts
Email · phone · related entities
Sales History
1 recorded event · public records
Date
Price
Buyer
Seller
Deed Type
Mortgage
May 7, 2012
$1,622,200
Cole Fd Portfolio III LLC
Family Dollar Stores Of Florida I
Grant Deed
—
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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