Entity Owned 
For Sale
1 / 24
$3,400,000
3900 Broadway, Fort Myers, FL 33901
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Property summary
AI-generated overview
The property is a multi-building commercial complex comprising four concrete block buildings on a site of just over two acres, providing more than 24,000 square feet of leasable space. It has approximately 240 feet of frontage on Broadway and is served by more than 100 parking spaces. The property is positioned along a commercial corridor with nearby residential areas up the block and is located across the street from the Edison Mall redevelopment area. Unit finishes include newer laminate flooring in most spaces, and the tenancy mix has historically been primarily medical and professional uses. The property is configured for rental occupancy and is subject to a local well that is grandfathered for irrigation use. Tenant electric utility expenses are handled by tenants, while owner-borne operating items are limited to water, landscaping, insurance, and taxes. The site is bordered by commercial properties, and there is potential to develop additional vertical space (up to four additional stories) to increase the number of rental units.
Property profile
Verified
Property type
Medical Office Space
Use group
MEDICAL BUILDING
Year built
1973
Construction
MASONRY/CONCRETE MASONRY UNITS (CMUS)
Total area
10,412 SF
Lot
2.72 ac (118,570 SF)
Zoning code
C2
APN
36-44-24-P1-00015.0000
UPID
US19-0430554
Cap rate & NOI
Priority signal for investors
Implied cap rate, NOI & suggested price
Cap rate vs submarket · NOI estimate · 3 price anchors
Current use
Occupant on record · Public records
-
Physician
-
Spa & Massage Center Skin Care Clinic
-
Medical Clinic
-
Medical Clinic
-
Physician
Location
Value estimations
Realmo proprietary · 4 methods
AI Approach
AI
by Request
CAP Approach
CAP
$2.01M
Comparable Approach
Comparable
$1.69M
Blend (final)
Blend
$2.00M
Owner & transaction history
since 2012
7 recorded transactions
Zoning & alternative use
C2 · Fort Myers, FL
Top alternative use upside
Retail stores
$2.9M
+6.2%
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
Value estimation
Instant AI valuation built from comps, income signals, and proprietary benchmarks. A defensible range, not a single guess.
Unlock the complete Valuation workflow
Full NOI reconstruction, selected comps, alternative-use scenarios, data audit and PDF export.
Full NOI build-up · 6 steps
3 alternative uses screened
Sensitivity value band
Source audit · 6 inputs
PDF export
Professional Plan · 30 reports
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Summary
1
Valuation conclusion
Included free
Estimated market value
$2.00M
Value range
$1.80M – $2.20M
±10% around blend
Estimated value / SF
$192 / SF
Confidence
Property data
100
Market benchmarks
67
Comparable evidence
60
Income certainty
100
$1.80M
blend $2.00M
$2.20M
Market-derived valuation under stabilized market assumptions. Desktop analysis. No physical inspection performed.
2
Subject property
Included free
GBA
10,412 SF
Lot area
2.72 ac
Year built
1973
Stories
1
APN
36-44-24-P1-00015.0000
Zoning
C2
Assessed value
$2,371,665
Annual tax
$31,585
3
Income approach: direct capitalization
Partial preview
Income approach indication
$2.01M
Direct capitalization · @ 6.5% CAP return
@ 6% CAP return
$2.17M
@ 6.5% CAP return
$2.01M
@ 7% CAP return
$1.86M
Estimated Stabilized NOI, derived from market rent, vacancy and expense benchmarks. Actual property income not reported.
Estimated market rent / SF
Potential gross income
Vacancy allowance
Effective gross income
Benchmark operating expenses
Stabilized NOI
Property tax
$31,585
Selected cap rate
4
Sales comparison
Partial preview
Sales approach indication
$1.69M
Range $413k – $1.73M
Evidence
6 found
Recent peer sales in this city
5
Sensitivity & risk
Partial preview
Downside
−10%
Base
$2.00M
Upside
+10%
Bounds of the ±10% band vs the blend — never simulated scenarios.
6
Current market position
Included free
Benchmark
Observed band ($/SF)AverageSubject delta
Submarket 66 sales
$266
-28%
County 109 sales
$286
-33%
Band = middle half (Q1–Q3) of recorded sale $/SF for this use type per geography; the diamond marks the subject at $192/SF. Delta below average reads as headroom. Source: Realmo CRE sales derivatives (county records).
7
Alternative use screening
Partial preview
Top alternative use
Retail Stores
Gross theoretical uplift
+6%
vs current-use indication
Medical Building · current use
Neighborhood: Shopping Center
Values shown before conversion costs, entitlement costs, capital expenditures and stabilization risk.
8
Data & methodology
Included free
Building area
County record
Property tax
County record
Assessed value
County record
Zoning designation
County record
Operating expenses
Modeled
Market rent
Market benchmark
Not analyzed due to unavailable source data: actual rent roll, tenant leases, physical condition and capital
requirements are outside a desktop analysis.
Cost Approach excluded: income and sales evidence cover the value conclusion.
Automated valuation analysis, not a licensed appraisal. Figures are derived from public
records and proprietary models. Desktop analysis: no physical inspection, tenant leases or reported
property income. Verify with a licensed appraiser before transacting.
Cap rate
Cap rate calculated from real income and expense signals, benchmarked against sales of similar assets nearby.
Unlock the complete Cap Rate workflow
Full market tables, editable assumptions, comparable evidence, saved work and exports.
9-scenario matrix
NOI build-up · 9 steps
Market rates by use type
PDF export
Professional Plan · 30 reports
from $99/month
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Overview
Selected market yield
9.20%
Selected cap rate for this medical office space
Derived from the Fort Myers market rent, vacancy and expense benchmarks for this use type.
Lower yield / higher price
Higher yield / lower price
5.0%
This property · 9.20%
9.0%
NOI (est.)
$313k *
* derived from a real price signal at a 7% cap
Price sensitivity
The rate is the decision lever; valuation is the consequence.
Test a cap rate
Implied value$3.40M
Move the market yield to see immediate price impact.
Value / SF
$327
Vs. selected
Base
Derivation
NOI ÷ cap
Arithmetic over the derived NOI * — not market scenario modeling.
NOI × cap matrix
Preview
Preview of 9 modeled outcomes.
NOI
8.70%9.20%9.70%
$282k
$3.24M
$3.06M
$2.90M
$313k
$3.60M
$3.40M
$3.23M
$344k
$3.96M
$3.74M
$3.55M
NOI sensitivity ±10% across the selected-rate band (±0.5 pp) — derivation of the NOI above.
Property tax & assessments
Tax year 2023Property tax & assessments
Tax year 2023
Tax billed
$31,585
Tax year 2023
Assessed value
$2,371,665
Assessed 2023
Previous assessed
$2,060,944
+15.1% YoY
Effective rate
1.33%
On assessed value
Assessed land
$273,857
Assessed improvement
$2,097,808
Land market value
$273,857
Improvement market value
$2,097,808
Total market value
$2,371,665
Applied tax rate
90.0000
Automated cap rate analysis. Based on public records, market benchmarks and proprietary
models. Verify with a licensed professional before transacting.
Property description
Physical attributes from public recordsBuilding & lot
Public records
Property type
Medical Office Space
Use group
MEDICAL BUILDING
Status
For Sale
Year built
1973
Construction
MASONRY/CONCRETE MASONRY UNITS (CMUS)
Heating
FORCED AIR
Cooling
AC.PACKAGE
Buildings
4
Stories
1
Total area
10,412 SF
Lot
2.72 ac (118,570 SF)
Zoning code
C2
APN
36-44-24-P1-00015.0000
UPID
US19-0430554
Jurisdiction
LEE
Zoning & alternative use
C2 · Fort Myers, FLZoning C2 · permitted uses
C2 · Fort Myers, FL
Permitted & conditional uses
Allowed uses · Special-permit conditions · Prohibited uses
Alternative use value scenarios
Repositioning upside vs current use
Alternative use deep dive — conversion cost, permits, timeline
Conversion cost estimate · Permit path & risks · Stabilized NOI per option
Building & site characteristics
From public records
Year built
1973
Construction
MASONRY/CONCRETE MASONRY UNITS (CMUS)
Heating
FORCED AIR
Cooling
Yes
Stories
1
Buildings
4
Lot
2.72 ac
Zoning
The recorded zoning designation, what the district officially allows, and the municipal source it comes from.
Zoning designation
County-recorded code
C2
Jurisdiction
Fort Myers, FL
Recorded code
C2
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Owner identityResolved entity and name variants
Portfolio holdingsLinked properties and estimated value
Deal signalsSell-side activity worth following
Debt & historyRecorded loans and transaction history
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Owner of record and activity signals are derived from public records and modeled classifications.
They do not confirm beneficial ownership or intent to transact.
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