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

    3484 Palm Ave Fort Myers, FL 33901-7432

    • Industrial land
    • 0.40 lot acres
    OFF-MARKET
    Last Sale
    Apr 22, 2021
    $106,000
    Value Estimations
    Cap Rate Potential
    Location Intelligence
    Property ID
    US19-0783602
    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

    • Industrial land

    Property Details for 3484 Palm Ave

    Lot size
    0.40 lot acres
    Zone code
    IL
    Property type
    Industrial land
    APN
    25-44-24-P3-00100.048C
    APU
    254424P300100048C

    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
    -81.8564
    Latitude
    26.6137
    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
    $1,714
    $111,395
    $0.00
    $111,395
    -
    $111,395
    $0.00
    $111,395

    Comparable in this City

    • Value Estimation
      $1,240,000
      0.32 Acres

      Braman Ave

      INDUSTRIAL - VACANT LAND • 0.32 Acres
      Braman Ave, Fort Myers, FL 33901
      View Details
    • Value Estimation by Request
      0.18 Acres

      2155 Alicia St

      INDUSTRIAL - VACANT LAND • 1,440 SF
      2155 Alicia St, Fort Myers, FL 33901
      View Details
    • Value Estimation by Request
      0.53 Acres

      2550 Dr Martin Luther King Blvd

      INDUSTRIAL - VACANT LAND • 0.53 Acres
      2550 Dr Martin Luther King Blvd, Fort Myers, FL 33901-3900
      View Details
    • Value Estimation by Request
      0.16 Acres

      2558 Willard St

      INDUSTRIAL - VACANT LAND • 0.16 Acres
      2558 Willard St, Fort Myers, FL 33901
      View Details
    • Value Estimation
      $1,240,000
      0.35 Acres

      3075 Cranford Ave

      INDUSTRIAL - VACANT LAND • 0.35 Acres
      3075 Cranford Ave, Fort Myers, FL 33901-7453
      View Details
    • Value Estimation by Request
      0.17 Acres

      Edison Ave

      INDUSTRIAL - VACANT LAND • 0.17 Acres
      Edison Ave, Fort Myers, FL 33901
      View Details

    Similar Nearby for Sale

    • $259,000

      Evans Ave Land Opportunity

      Land available on Evans Ave, Fort Myers.
      3949 103, 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
    • $1,250,000
      0.30 Acres

      Riverfront Lot in Fort Myers

      Prime riverfront lot to build your custom home.
      2904 Valencia Way, Fort Myers, FL 33901
      View Details
    • New
      $599,000
      0.43 Acres

      Canal-Front Lot in McGregor Area

      Oversized lot ready to build your dream home!
      1285 Carlene Ave, Fort Myers, FL 33901
      View Details
    • $1,669,000
      0.40 Acres

      Riverfront Land Ready to Build

      Cleared riverfront property suitable for building a dream home.
      3508 Stuart Ct, Fort Myers, FL 33901
      View Details
    • $1,285,000
      0.43 Acres

      Riverfront Land Ready For Building

      Cleared .43-acre riverfront lot ready for construction in Fort Myers.
      1301 Rio Vista 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
    • Contact for pricing

      Downtown Fort Myers Modern Office

      Modern office space in downtown Fort Myers with premium finishes.
      2401 1St St, Fort Myers, FL 33901
      View Details
    • New
      Contact for pricing
      116,436 SF

      Fort Myers Industrial Storage Facility

      16,000 SF warehouse on 2.75 AC lot for lease.
      3065 Cranford Ave, 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.
    3484 Palm Ave
    Fort Myers, FL 33901-7432
    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.