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

    4100 Evans Ave Fort Myers, FL 33901-9301

    • Office buildings
    • 6,790 SF
    • 0.64 lot acres
    OFF-MARKET
    Value Estimations
    $325,000
    Show details
    Cap Rate Potential
    Location Intelligence
    Property ID
    US18-4528903
    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

    • Blessed Family Home Care Services LLC / Home Health Care Service
    • Beautique Hair Lounge LLC. / Hair Salon
    • SWFL Adrenaline / Soccer Club
    • Door to Heaven Ministry University of Science / Adult Education School
    • ATM Machine at Twin Oaks Plaza / Atm

    Property Details for 4100 Evans Ave

    Year built
    1984
    Construction
    FRAME
    Lot size
    0.64 lot acres
    Property size
    6,790 SF
    Zone code
    C1
    Property type
    Office buildings
    APN
    36-44-24-P3-01300.0190
    APU
    364424P3013000190

    Description

    This exceptional investment opportunity presents a stabilized, multi-tenant office complex in Fort Myers, Florida. The property, situated on 1.23 acres, comprises two single-story buildings totaling 13,788 gross square feet (11,241 rentable square feet). Constructed in 1984 and extensively renovated in 2022, the buildings feature concrete block construction with a pitch shingle roof (reroofed in 2017). The property boasts 52 units averaging 215 square feet, currently housing 47 tenants with a 100% occupancy rate (March 2024). Individual electric meters are tenant-paid, except for five owner-paid units. The owner provides internet service and covers water and sewer costs for all units. The property benefits from a gross lease structure, liberal CI Commercial Intensive zoning allowing for diverse commercial uses, and ample surface parking (54 spaces). Key features include a large monument sign, convenient access to major transportation routes (including bus lines and I-75), and proximity to downtown Fort Myers and RSW International Airport (15 miles). The property's strong financial performance is highlighted by a current NOI of $244,279 and an 8.14% cap rate. Two leases are up for renewal in 2024, but the historically high occupancy and substantial waiting list indicate continued strong performance. The property is professionally managed and exhibits minimal deferred maintenance. Priced at $3,000,000, this offering presents a compelling value proposition below replacement cost. The property is ideally suited for a 1031 exchange.

    Value Estimations

    based on Realmo’s proprietary methodology

    • AI approach

      Method
      Estimation
      ML approach
      $325,000

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

    Location Insight

    • Map
    • Local Demand
    City
    Fort Myers
    County
    Lee
    State
    Florida
    Longitude
    -81.8602
    Latitude
    26.6028
    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
    $12,499
    $155,812
    $737,200
    $893,012
    -
    $155,812
    $737,200
    $893,012

    Comparable in this City

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      2548 1st St

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      2229 Unity Ave

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    • Value Estimation
      $210,000
      3,574 SF

      2080 Mcgregor Blvd, Unit 1

      OFFICE BUILDING • 3,574 SF
      2080 Mcgregor Blvd, Fort Myers, FL 33901-3424
      View Details
    • Value Estimation
      $255,000
      5,199 SF

      2041 Mcgregor Blvd, Unit 2051

      OFFICE BUILDING (MULTI-STORY) • 5,199 SF
      2041 Mcgregor Blvd, Fort Myers, FL 33901-3416
      View Details
    • Value Estimation
      $615,000
      21,792 SF

      3660 Broadway

      OFFICE BUILDING (MULTI-STORY) • 21,792 SF
      3660 Broadway, Fort Myers, FL 33901-8005
      View Details

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    Similar Nearby for Lease

    • $20 SF/Yr
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      Renovated Office/Medical Building For Rent

      Three-story office/medical building with prime frontage and convenient location.
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      View Details
    • $4,019 /Mo
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      Professional Office Space on McGregor

      Move-in-ready office space in well-maintained Fort Myers building.
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    • $10 SF/Yr
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      Bottle Brush Center: Fort Myers Office

      Prime Fort Myers medical/office suites available.
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      1,100 SF office space in a vibrant downtown location.
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    • $16 SF/Yr
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      Fort Myers Medical/Professional Office

      Multi-tenanted office building in central Fort Myers available for lease.
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    • $13 SF/Yr
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      Prime Medical Office Space, Fort Myers

      Three-building medical office complex with ample parking.
      3677 Central Ave, Fort Myers, FL 33901
      View Details
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    4100 Evans Ave
    Fort Myers, FL 33901-9301
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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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