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

    3620 Colonial Blvd Fort Myers, FL 33966-1046

    • Office buildings
    • 5,427 SF
    • 1.13 lot acres
    OFF-MARKET
    Last Sale
    Mar 08, 2023
    $1,700,000
    Value Estimations
    $1,795,000
    Show details
    Cap Rate Potential
    5.3%
    Office buildings
    Location Intelligence
    Property ID
    US19-0466921
    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

    • WindMitigations.com / Home Inspector / Building Inspector
    • Lighthouse Insurance Group Of Florida / Insurance Agency
    • Vertex Solar & Roofing / Solar Energy Company
    • Employability Inc / Employment Agency
    • Jamie's Carpet, Tile Grout Cleaning / Upholstery Cleaning Service / Carpet Cleaning Service

    Property Details for 3620 Colonial Blvd

    Year built
    2006
    Construction
    MASONRY/CONCRETE MASONRY UNITS (CMUS)
    Lot size
    1.13 lot acres
    Property size
    5,427 SF
    Zone code
    CC
    Property type
    Office buildings
    APN
    05-45-25-00-00001.002A
    APU
    0545250000001002A

    Value Estimations

    based on Realmo’s proprietary methodology

    • AI approach

      Method
      Estimation
      Statistic approach
      $1,890,000
      ML approach
      $2,070,000

    • CAP approach

      CAP Return
      Estimation
      6%
      $1,660,000
      6.5%
      $1,530,000
      7%
      $1,420,000

    • Comparable approach

      Method
      Estimation
      Statistic Estimate
      $1,889,000
      Market price range: $1000k - $1.89M

    • Alternative Use

      Use
      Estimation
      OFFICE BUILDING
      $1,515,000
      Current use
      COMMERCIAL (GENERAL)
      $1,950,000
      Change: +29% Conversion: Easy
      MEDICAL BUILDING
      $1,440,000
      Change: -5% Conversion: Easy
      RETAIL STORES
      $1,415,000
      Change: -7% Conversion: Moderate
      NEIGHBORHOOD: SHOPPING CENTER
      $1,285,000
      Change: -15% Conversion: Difficult

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

    Location Insight

    • Map
    • Local Demand
    City
    Fort Myers
    County
    Lee
    State
    Florida
    Longitude
    -81.8392
    Latitude
    26.5967
    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
    $14,425
    $620,861
    $909,251
    $1,530,112
    -
    $620,861
    $909,251
    $1,530,112

    Comparable in this City

    • Value Estimation
      $835,000
      5,699 SF

      4101 Colonial Blvd

      OFFICE BUILDING (MULTI-STORY) • 5,699 SF
      4101 Colonial Blvd, Fort Myers, FL 33966-1185
      View Details
    • Value Estimation
      $1,810,000
      6,550 SF

      3850 Colonial Blvd, Unit 3860

      OFFICE BUILDING (MULTI-STORY) • 6,550 SF
      3850 Colonial Blvd, Fort Myers, FL 33966-1031
      View Details
    • Value Estimation
      $1,635,000
      10,702 SF

      10511 Ben C 6th Mile Cypress Pkwy

      OFFICE BUILDING (MULTI-STORY) • 10,702 SF
      10511 Ben C 6th Mile Cypress Pkwy, Fort Myers, FL 33966-6547
      View Details
    • Value Estimation
      $1,800,000
      12,540 SF

      10501 Ben C 6th Mile Cypress Pkwy

      OFFICE BUILDING (MULTI-STORY) • 12,540 SF
      10501 Ben C 6th Mile Cypress Pkwy, Fort Myers, FL 33966-6400
      View Details
    • Value Estimation
      $5,890,000
      21,326 SF

      11215 Metro Pkwy

      OFFICE BUILDING (MULTI-STORY) • 21,326 SF
      11215 Metro Pkwy, Fort Myers, FL 33966-1206
      View Details
    • Value Estimation
      $840,000
      16,312 SF

      10481 Ben C 6th Mile Cypress Pkwy

      OFFICE BUILDING (MULTI-STORY) • 16,312 SF
      10481 Ben C 6th Mile Cypress Pkwy, Fort Myers, FL 33966-6460
      View Details

    Similar Nearby for Sale

    • $12,500,000
      72,712 SF

      Green Office Park: Fort Myers Investment

      Fully Leased Office Park, High Occupancy
      10501 6 Mile Cypress Pkwy, Fort Myers, FL 33966
      View Details
    • $675,000
      0.53 Acres

      Fort Myers Flex Space Available

      4002 SF flex space for lease or sale.
      12155 Metro Pkwy, Fort Myers, FL 33966
      View Details
    • $395,000
      0.46 Acres

      Fort Myers Commercial Condo

      Multi-tenant industrial office condo with showroom and warehouse space.
      12165 Metro Pkwy, Fort Myers, FL 33966
      View Details
    • $3,300,000
      15,390 SF

      Fort Myers Industrial NNN Lease

      High-credit tenant, low-management investment.
      6170 Idlewild St, Fort Myers, FL 33966
      View Details
    • $1,950,000
      6.37 Acres

      Metro Parkway Commercial Land

      6.37 Acres, Permit-Ready Development
      10801 Metro Pkwy, Fort Myers, FL 33966
      View Details
    • $4,300,000
      22,800 SF

      Industrial Showroom/Warehouse on Metro Parkway

      22,800 SF industrial showroom/warehouse with frontage on Metro Parkway.
      12090 Metro Pkwy, Fort Myers, FL 33966
      View Details

    Similar Nearby for Lease

    • Contact for pricing
      61,420 SF

      Class A Office Building

      Two-story office building with elevator and high visibility.
      3820 Colonial Blvd, Fort Myers, FL 33966
      View Details
    • $14 SF/Yr
      18,100 SF

      Versatile Showroom, Office, and Storage

      Two-story space with showroom, offices, and storage available for rent.
      13050 Metro Pkwy, Fort Myers, FL 33966
      View Details
    • $17 SF/Yr
      3,750 SF

      Second Floor Office Suite

      Office suite with waiting room, kitchen, and eight offices.
      6430 Plantation Park Ct, Fort Myers, FL 33966
      View Details
    • $18 SF/Yr
      1,775 SF

      Colonial Boulevard Office Space Available

      Office space for rent with monument signage and covered parking.
      3800 Colonial Blvd, Fort Myers, FL 33966
      View Details
    • $13 SF/Yr
      23,500 SF

      Warehouse with Showroom and Office

      23,500 SF warehouse with showroom and office space for rent.
      13080 Metro Pkwy, Fort Myers, FL 33966
      View Details
    • $5,300 /Mo
      4,500 SF

      Medical Office Space Available

      2,250 SF medical office space for lease.
      4977 Royal Gulf Cir, Fort Myers, FL 33966
      View Details
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    3620 Colonial Blvd
    Fort Myers, FL 33966-1046
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    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
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