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    3700 Central Ave Fort Myers, FL 33901-7649
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    Property profile & analytics

    3700 Central Ave Fort Myers, FL 33901-7649

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    • Medical Office Space
    • 14,654 SF
    • 1.54 lot acres
    Off-Market
    Last Sale Apr 24, 2023
    $3,600,000
    Property ID
    US18-9648598
    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.
    Value Estimations
    $3,130,000
    Show details
    Cap Rate Potential
    7.8%
    Medical Office Space
    Location Intelligence

    Current Use by Public Records

    • Associates In Cosmetic Surgery / Physician / Medical Clinic
    • Robert John Brueck MD / Physician
    • Southwest Florida Institute / Physician
    • Fort Myers Children's Surgery Center / Medical Clinic / Hospital

    Property Details for 3700 Central Ave

    Year built
    1983
    Construction
    MASONRY/CONCRETE MASONRY UNITS (CMUS)
    Lot size
    1.54 lot acres
    Property size
    14,654 SF
    Zone code
    C1
    Property type
    Medical Office Space
    Property subtype
    Medical centers
    APN
    36-44-24-P1-00009.0060
    APU
    364424P1000090060

    Value Estimations

    based on Realmo’s proprietary methodology

    • AI approach

      Method
      Estimation
      Statistic approach
      $2,350,000
      ML approach
      $4,225,000

    • CAP approach

      CAP Return
      Estimation
      6%
      $3,055,000
      6.5%
      $2,820,000
      7%
      $2,620,000

    • Comparable approach

      Method
      Estimation
      Statistic Estimate
      $2,192,000
      Market price range: $2.19M - $5.52M

    • Alternative Use

      Use
      Estimation
      MEDICAL BUILDING
      $3,895,000
      Current use
      RETAIL STORES
      $4,135,000
      Change: +6% Conversion: Difficult
      NEIGHBORHOOD: SHOPPING CENTER
      $3,465,000
      Change: -11% Conversion: Difficult

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

    Location Insight

    • Map
    • Local Demand
    City
    Fort Myers
    County
    Lee
    State
    Florida
    Longitude
    -81.8646
    Latitude
    26.6087
    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
    $16,220
    $82,147
    $1,097,573
    $1,179,720
    -
    $82,147
    $1,097,573
    $1,179,720

    Comparable in this City

    • Value Estimation
      $3,310,000
      15,578 SF

      4035 Evans Ave

      MEDICAL BUILDING • 15,578 SF
      4035 Evans Ave, Fort Myers, FL 33901-9308
      View Details
    • Value Estimation
      $615,000
      5,386 SF

      2666 Swamp Cabbage Ct

      MEDICAL BUILDING • 5,386 SF
      2666 Swamp Cabbage Ct, Fort Myers, FL 33901-9332
      View Details
    • Value Estimation by Request
      19,480 SF

      2531 Cleveland Ave

      MEDICAL BUILDING • 19,480 SF
      2531 Cleveland Ave, Fort Myers, FL 33901-4900
      View Details
    • Value Estimation
      $1,420,000
      7,220 SF

      2045 Collier Ave

      MEDICAL BUILDING • 7,220 SF
      2045 Collier Ave, Fort Myers, FL 33901-8128
      View Details
    • Value Estimation by Request
      1,783 SF

      2454 Winkler Ave

      MEDICAL BUILDING • 1,783 SF
      2454 Winkler Ave, Fort Myers, FL 33901-9266
      View Details
    • Value Estimation
      $1,300,000
      11,518 SF

      3487 Broadway

      MEDICAL BUILDING • 11,518 SF
      3487 Broadway, Fort Myers, FL 33901-7213
      View Details

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    Similar Nearby for Lease

    • $20 SF/Yr
      16,000 SF

      Renovated Office/Medical Building For Rent

      Three-story office/medical building with prime frontage and convenient location.
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      View Details
    • $20 SF/Yr

      Renovated Office/Medical Building For Rent

      Fully renovated office building with modern space and abundant parking.
      4048 Evans Ave, Fort Myers, FL 33901
      View Details
    • $20 SF/Yr

      Renovated Fort Myers Office Building

      Three-story office/medical building with modern space and excellent visibility.
      4048 Evans Ave, Fort Myers, FL 33901
      View Details
    • Contact for pricing
      2,376 SF

      Medical Office Near Downtown

      Medical office space for lease near Lee Memorial Hospital.
      2621 Cleveland Ave, Fort Myers, FL 33901
      View Details
    • Contact for pricing

      Central Avenue Professional Office Space

      Professional/Medical flex/office space available for rent on Central Avenue.
      3677 Central Ave, Fort Myers, FL 33901
      View Details
    • Contact for pricing

      Professional Office Spaces in Fort Myers

      Professional and medical office spaces available for immediate occupancy.
      3660 Central Ave, Fort Myers, FL 33901
      View Details
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    Fort Myers, FL 33901-7649
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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.

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