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    4231 Colonial Blvd Fort Myers, FL 33966-1060
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    Property profile & analytics

    4231 Colonial Blvd, Fort Myers, FL 33966-1060

    View on Map
    • Retail space
    • 19,092 SF
    • 2.75 lot acres
    Off-Market
    Last Sale Dec 18, 2025
    $3,700,000
    Property ID
    US18-5496181
    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
    $3,485,000
    Show details
    Cap Rate Potential
    Location Intelligence

    Current Use by Public Records

    • Family Thrift Center / Discount Store
    • Cool It Air Conditioning Repair / HVAC Service / General Contractor

    Property Details for 4231 Colonial Blvd

    Year built
    1981
    Construction
    STEEL FRAME
    Lot size
    2.75 lot acres
    Zone code
    PUD
    Property type
    Retail space
    APN
    32-44-25-P2-00007.0030
    APU
    324425P2000070030

    Description

    This exceptional 16,851-square-foot single-tenant flex space in Fort Myers, Florida, presents a rare investment opportunity. Situated on a 2.91-acre lot with 243 feet of frontage on Colonial Boulevard, this property boasts high visibility and accessibility, benefiting from approximately 54,379 daily vehicle counts. Built in 1981 and renovated in 2007, the building features all-steel construction with a 14-foot ceiling height and ample parking (50 spaces). Currently zoned PUD, the property is undergoing rezoning to Commercial General (CG), unlocking 47 permitted and 13 conditional uses. Its strategic location directly across from Lee Health's new 520,000-square-foot campus and amidst significant residential development (over 7,500 units in various stages of development) ensures strong future growth potential. The property's versatile nature, combined with its prime location and ongoing improvements, makes it an ideal choice for a variety of businesses. The APN is 32-44-25-P2-00007.0030. This one-story building offers a unique blend of warehouse, manufacturing, and retail capabilities.

    Value Estimations

    based on Realmo’s proprietary methodology

    • CAP approach

      CAP Return
      Estimation
      6%
      $4,175,000
      6.5%
      $3,855,000
      7%
      $3,580,000

    • Comparable approach

      Method
      Estimation
      Statistic Estimate
      $2,681,000
      Market price range: $2.64M - $8.17M

    • Alternative Use

      Use
      Estimation
      RETAIL STORES
      $4,970,000
      Current use
      OFFICE BUILDING
      $5,320,000
      Change: +7% Conversion: Easy
      MEDICAL BUILDING
      $5,075,000
      Change: +2% Conversion: Difficult
      NEIGHBORHOOD: SHOPPING CENTER
      $4,515,000
      Change: -9% Conversion: Moderate

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

    Location Insight

    • Map
    • Local Demand
    City
    Fort Myers
    County
    Lee
    State
    Florida
    Longitude
    -81.8257
    Latitude
    26.6073
    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
    $39,610
    $1,112,178
    $858,337
    $1,970,515
    -
    $1,112,178
    $858,337
    $1,970,515

    Comparable in this City

    • Value Estimation
      $945,000
      7,800 SF

      12450 Metro Pkwy

      RETAIL STORES (PERSONAL SERVICES)
      12450 Metro Pkwy, Fort Myers, FL 33966-1432
      View Details
    • Value Estimation
      $750,000
      3,600 SF

      6040 Lndg Vw Rd

      RETAIL STORES (PERSONAL SERVICES)
      6040 Lndg Vw Rd, Fort Myers, FL 33966-1154
      View Details
    • Value Estimation
      $1,175,000
      5,688 SF

      4030 Colonial Blvd

      RETAIL STORES (PERSONAL SERVICES)
      4030 Colonial Blvd, Fort Myers, FL 33966-1015
      View Details
    • Value Estimation by Request
      4,036 SF

      9250 6 Mile Cypress Pkwy

      Individual retail properties
      9250 6 Mile Cypress Pkwy, Fort Myers, FL 33966
      View Details
    • Value Estimation
      $1,275,000
      6,889 SF

      4380 Colonial Blvd

      RETAIL STORES (PERSONAL SERVICES)
      4380 Colonial Blvd, Fort Myers, FL 33966-1064
      View Details
    • Value Estimation by Request
      2,400 SF

      11670 Metro Pkwy

      RETAIL STORES (PERSONAL SERVICES)
      11670 Metro Pkwy, Fort Myers, FL 33966-1301
      View Details

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      22,800 SF

      Industrial Showroom/Warehouse on Metro Parkway

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    Similar Nearby for Lease

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      3,200 SF

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      Retail space for lease in Fort Myers, Florida.
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      Retail Space Available For Rent

      Retail space available, approximately 1,942 square feet.
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      23,500 SF

      Warehouse with Showroom and Office

      23,500 SF warehouse with showroom and office space for rent.
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      18,100 SF

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      8,550 SF

      Fort Myers Warehouse For Rent

      Warehouse space available for lease in Fort Myers, Florida.
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      View Details
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    Fort Myers, FL 33966-1060
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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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