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    Property profile & analytics

    42 Willis Rd North Fort Myers, FL 33917-5339

    • Warehouses
    • 6,582 SF
    • 0.33 lot acres
    OFF-MARKET
    Value Estimations
    $630,000
    Cap Rate Potential
    Location Intelligence
    Property ID
    US18-5043689
    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

    • Warehouses

    Property Details for 42 Willis Rd

    Year built
    1969
    Construction
    STEEL FRAME
    Lot size
    0.33 lot acres
    Property size
    6,582 SF
    Zone code
    C-2
    Property type
    Warehouses
    APN
    02-44-24-03-0000A.0070
    APU
    024424030000A0070

    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
    North Fort Myers
    County
    Lee
    State
    Florida
    Longitude
    -81.8792
    Latitude
    26.6689
    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
    $5,110
    $56,252
    $436,785
    $493,037
    -
    $56,252
    $436,785
    $493,037

    Comparable in this City

    • Value Estimation
      $8,550,000
      74,530 SF

      7751 Bayshore Rd

      WAREHOUSE, STORAGE • 74,530 SF
      7751 Bayshore Rd, North Fort Myers, FL 33917-3506
      View Details
    • Value Estimation
      $770,000
      7,408 SF

      17660 Ee St

      WAREHOUSE, STORAGE • 7,408 SF
      17660 Ee St, North Fort Myers, FL 33917-2120
      View Details
    • Value Estimation by Request
      2,800 SF

      11241 Deal Rd

      WAREHOUSE, STORAGE • 2,800 SF
      11241 Deal Rd, North Fort Myers, FL 33917-5802
      View Details
    • Value Estimation
      $810,000
      6,146 SF

      6250 Bayshore Rd

      WAREHOUSE, STORAGE • 6,146 SF
      6250 Bayshore Rd, North Fort Myers, FL 33917-3132
      View Details
    • Value Estimation by Request
      2,000 SF

      6350 Slater Ml Way

      WAREHOUSE, STORAGE • 2,000 SF
      6350 Slater Ml Way, North Fort Myers, FL 33917-6645
      View Details
    • Value Estimation
      $2,385,000
      26,329 SF

      17611 Ee St

      WAREHOUSE, STORAGE • 26,329 SF
      17611 Ee St, North Fort Myers, FL 33917-2138
      View Details

    Similar Nearby for Sale

    • $1,490,000
      2.34 Acres

      North Fort Myers Commercial Land

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      View Details
    • $1,200,000
      2.00 Acres

      Commercial Land on Bayshore Road

      Two-acre commercial land with frontage on Bayshore Road.
      9400 Bayshore Rd, North Fort Myers, FL 33917
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    • $135,000
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      North Fort Myers Gulf Access Land

      Cleared land with quick gulf access, no bridges.
      76 Gold Key Ct, North Fort Myers, FL 33917
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    • $125,000
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      Wooded Lot Near Yacht Club

      Wooded lot near amenities, beaches, and downtown Fort Myers.
      2271 Westwood Rd, North Fort Myers, FL 33917
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    • $49,900
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      Oversized Lot in North Fort Myers

      Large residential lot with potential for seller financing.
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    • $149,000
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      Waterfront Lot in Gated Community

      Saltwater lot with Gulf access in a gated community.
      6104 Marsh Point Ln, North Fort Myers, FL 33917
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    Similar Nearby for Lease

    • $3,500 /Mo
      16,030 SF

      North Fort Myers Standalone Warehouse

      Standalone warehouse with office, bathrooms, and fenced yard for lease.
      29 Cardinal Dr, North Fort Myers, FL 33917
      View Details
    • $15 SF/Yr

      North Fort Myers Flex Space

      Versatile 2,400 SF flex space with fenced yard.
      7997 Mercantile St, North Fort Myers, FL 33917
      View Details
    • Contact for pricing

      Retail and Office Center

      Neighborhood retail and office center with high visibility.
      6351 Bayshore Rd, North Fort Myers, FL 33917
      View Details
    • Contact for pricing

      Retail Units at Shoreline Shoppes

      Retail units for lease in North Fort Myers.
      5781 Bayshore Rd, North Fort Myers, FL 33917
      View Details
    • Contact for pricing
      1,440 SF

      Retail Space in Growing Area

      Retail space in a rapidly growing North Fort Myers submarket.
      6694-6704 Bayshore Rd, North Fort Myers, FL 33917
      View Details
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    42 Willis Rd
    North Fort Myers, FL 33917-5339
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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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