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    Property profile & analytics

    450 Hbr Ct Fort Myers Beach, FL 33931-2112

    • Warehouses
    • 17,696 SF
    • 1.79 lot acres
    OFF-MARKET
    Last Sale
    Jan 06, 2021
    Value Estimations
    $2,420,000
    Show details
    Cap Rate Potential
    Location Intelligence
    Property ID
    US18-4165870
    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

    • CRC Charters, LLC / (Bike/Boat/Book/etc) Store
    • Moss Marina / Boat Dealer / Boat Rental Service
    • Pelican Bay Charters / (Bike/Boat/Book/etc) Store
    • Flats Hound Fishing Charters / Tour Operator / Travel Agency
    • Cruisin' Tikis Fort Myers Beach / (Bike/Boat/Book/etc) Store

    Property Details for 450 Hbr Ct

    Year built
    1987
    Construction
    STEEL FRAME
    Lot size
    1.79 lot acres
    Property size
    17,696 SF
    Zone code
    CM
    Property type
    Warehouses
    APN
    24-46-23-W3-00026.0020
    APU
    244623W3000260020

    Value Estimations

    based on Realmo’s proprietary methodology

    • CAP approach

      CAP Return
      Estimation
      6%
      $3,005,000
      6.5%
      $2,775,000
      7%
      $2,580,000

    • Comparable approach

      Method
      Estimation
      Statistic Estimate
      $2,774,000
      Market price range: $2.15M - $5.92M
      AI Estimate
      $1,716,000
      Market price range: $756k - $3.60M

    • Alternative Use

      Use
      Estimation
      WAREHOUSE, STORAGE
      $3,620,000
      Current use

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

    Location Insight

    • Map
    • Local Demand
    City
    Fort Myers Beach
    County
    Lee
    State
    Florida
    Longitude
    -81.9556
    Latitude
    26.4565
    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
    $34,826
    $1,468,210
    $557,990
    $2,026,200
    -
    $1,468,210
    $557,990
    $2,026,200

    Comparable in this City

    • Value Estimation by Request
      24,000 SF

      1135 Main St

      MINI-WAREHOUSE, STORAGE • 24,000 SF
      1135 Main St, Fort Myers Beach, FL 33931-2211
      View Details
    • Value Estimation
      $990,000
      4,000 SF

      810 Buttonwood Dr

      WAREHOUSE, STORAGE • 4,000 SF
      810 Buttonwood Dr, Fort Myers Beach, FL 33931-2202
      View Details
    • Value Estimation by Request
      2,037 SF

      1100 Shrimp Boat Ln

      WAREHOUSE, STORAGE • 2,037 SF
      1100 Shrimp Boat Ln, Fort Myers Beach, FL 33931-2925
      View Details
    • Value Estimation
      $2,385,000
      3,742 SF

      1148 Main St

      WAREHOUSE, STORAGE • 3,742 SF
      1148 Main St, Fort Myers Beach, FL 33931-2212
      View Details
    • Value Estimation
      $1,075,000
      5,770 SF

      1184 Main St

      WAREHOUSE, STORAGE • 5,770 SF
      1184 Main St, Fort Myers Beach, FL 33931
      View Details
    • Value Estimation by Request
      3,500 SF

      820 Buttonwood Dr

      WAREHOUSE, STORAGE • 3,500 SF
      820 Buttonwood Dr, Fort Myers Beach, FL 33931-2202
      View Details

    Similar Nearby for Sale

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      13,250 SF

      Prime Fort Myers Beach Flex Space

      13,250 SF building, 2.23 acres, Gulf access
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    • New
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      0.65 Acres

      Waterfront Commercial Land, Fort Myers Beach

      Prime waterfront industrial/commercial land with redevelopment opportunities.
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      Income-producing waterfront industrial land.
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    • $189,900
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      Canal-Front Lot in Boating Community

      Wide canal-front lot in 55+ boating community near beaches.
      11600 Dogwood Ln, Fort Myers Beach, FL 33931
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    • $60,000
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      Fort Myers Beach Land Opportunity

      Off-water lot in desirable Bayside Estates, close to beaches.
      11400 Bayside Blvd, Fort Myers Beach, FL 33931
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    • $675,000
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      Beachside Land Parcel with Gulf Views

      Residential land near Beach Access #16, ideal for building.
      5421 Estero Blvd, Fort Myers Beach, FL 33931
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    Similar Nearby for Lease

    • $21 SF/Yr
      11,848 SF

      Fort Myers Beach Retail/Office Space

      1420 RSF suite with high visibility on Estero Boulevard.
      6035 Estero Blvd, Fort Myers Beach, FL 33931
      View Details
    • $20 SF/Yr
      1,452 SF

      Retail Center on San Carlos Boulevard

      Retail spaces available in renovated Fort Myers Beach shopping center.
      17260-17284 San Carlos Blvd, Fort Myers Beach, FL 33931
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    • Contact for pricing
      41,058 SF

      Fort Myers Beach Retail Plaza

      Prime Retail Space, Newly Renovated
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    • $40 SF/Yr
      72,333 SF

      Santini Marina Plaza: Fort Myers Beach Retail

      Prime Beachfront Retail Space Available
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    • Contact for pricing

      Commercial Land For Rent

      Commercial land with drive-thru opportunity in renovated plaza.
      17260 San Carlos Blvd, Fort Myers Beach, FL 33931
      View Details
    • Contact for pricing
      14,500 SF

      Freestanding Retail and Restaurant Building

      Olde Florida-style building with retail and restaurant space for lease.
      17650 San Carlos Blvd, Fort Myers Beach, FL 33931
      View Details
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    Fort Myers Beach, FL 33931-2112
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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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