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

    3609 Madison Ave Fort Myers, FL 33916

    • Commercial land
    • 0.44 lot acres
    OFF-MARKET
    Last Sale
    Aug 13, 2024
    Value Estimations
    Cap Rate Potential
    Location Intelligence
    Property ID
    US18-9966446
    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

    • Commercial land

    Property Details for 3609 Madison Ave

    Lot size
    0.44 lot acres
    Zone code
    RS7
    Property type
    Commercial land
    APN
    08-44-25-P4-01609.005A
    APU
    084425P401609005A

    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
    -81.8397
    Latitude
    26.6602
    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
    $938
    $48,971
    $10,200
    $59,171
    -
    $48,971
    $10,200
    $59,171

    Comparable in this City

    • Value Estimation by Request
      0.15 Acres

      3524 Katherine St

      VACANT COMMERCIAL LAND • 0.15 Acres
      3524 Katherine St, Fort Myers, FL 33916
      View Details
    • Value Estimation by Request
      0.29 Acres

      1969 Knight St

      VACANT COMMERCIAL LAND • 0.29 Acres
      1969 Knight St, Fort Myers, FL 33916-2709
      View Details
    • Value Estimation by Request
      0.16 Acres

      3673 Michigan Ave

      VACANT COMMERCIAL LAND • 0.16 Acres
      3673 Michigan Ave, Fort Myers, FL 33916-2238
      View Details
    • Value Estimation by Request
      0.16 Acres

      Michigan Ave

      VACANT COMMERCIAL LAND • 0.16 Acres
      Michigan Ave, Fort Myers, FL 33916
      View Details
    • Value Estimation by Request
      0.15 Acres

      1243 Williams St

      VACANT COMMERCIAL LAND • 0.15 Acres
      1243 Williams St, Fort Myers, FL 33916-1525
      View Details
    • Value Estimation by Request
      0.28 Acres

      2939 Douglas Ave

      VACANT COMMERCIAL LAND • 0.28 Acres
      2939 Douglas Ave, Fort Myers, FL 33916-4207
      View Details

    Similar Nearby for Sale

    • Contact for pricing
      1 SF

      Commercial Land in Dean Park

      1.10 AC commercial/multifamily land in historic district.
      2716 1St St, Fort Myers, FL 33916
      View Details
    • $125,000
      0.17 Acres

      Prime Commercial Land Opportunity

      Commercial land near downtown Fort Myers with high visibility.
      3244 Royalston Ave, Fort Myers, FL 33916
      View Details
    • $325,000

      Commercial Land Available For Sale

      Commercial land for sale in Fort Myers, Florida.
      2743 1St St, Fort Myers, FL 33916
      View Details
    • $200,000
      1.79 Acres

      Commercial Lot on Billy's Creek

      1.79 acre commercial lot near Downtown Fort Myers.
      Williams St, Fort Myers, FL 33916
      View Details
    • $100,000
      Pending

      Commercial Lot on Dr. MLK

      Commercial lot with high visibility and accessibility on Dr. MLK.
      3030 Dr Martin Luther King Jr Blvd, Fort Myers, FL 33916
      View Details
    • $5,000,000

      Redevelopment Opportunity Near Ft. Myers

      Eight-acre commercial land parcel near the water in Ft. Myers.
      940 Tarpon St, Fort Myers, FL 33916
      View Details

    Similar Nearby for Lease

    • Contact for pricing
      9 SF

      9.21 Acres IOS Land Lease

      9.21 acres of land with outdoor storage, for lease.
      Hanson St, Fort Myers, FL 33916
      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
    • 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
    • Contact for pricing
      12 SF

      Fort Myers Industrial Land Available

      Industrial land for lease or build-to-suit in Fort Myers.
      S Shoemaker Blvd And Hanson St, Fort Myers, FL 33916
      View Details
    • $5,500 /Mo

      Industrial Land Ready For Rent

      Vacant industrial land suitable for light industrial use.
      2140 Flint Dr, 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.
    3609 Madison Ave
    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.