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Property profile & analytics
OFF-MARKET
Estimated value
$6,155,000
Hotels
4850 Cleveland Ave Fort Myers, FL 33907-1320
Entity Owned
3-yr Hold
~
Est. High Equity
Property ID
US18-9068348
Property profile
Verified
Property type
Hotels
Use group
HOTEL/MOTEL
Year built
1984
Construction
CONCRETE
Total area
24,542 SF
Lot
2.05 ac (89,124 SF)
Zoning code
CI
APN
02-45-24-P2-00068.0010
UPID
US18-9068348
Cap rate & NOI
Priority signal for investors
Implied cap rate, NOI & suggested price
Cap rate vs submarket · NOI estimate · 3 price anchors
Implied cap rate, NOI & suggested price
Cap vs submarket · NOI estimate · 3 price anchors
Current use
Occupant on record · Public records
-
Baymont by Wyndham Fort Myers Central Hotel & Motel
-
16636 Wellington Lakes Circle, Fort Myers 33907 Condominium Complex
-
Wiggins Pass beach Park
-
La Quinta Inn by Wyndham Fort Myers Central Hotel & Motel
Value estimations
Realmo proprietary · 4 methods
AI Approach
AI
$6.55M
CAP Approach
CAP
by Request
Comparable Approach
Comparable
$5.85M
Blend (final)
Blend
$6.16M
Owner & transaction history
Pari Hospitality LLC · 3 yrs held
Pari Hospitality LLC
since 2022
Last sale
$8.3M
6 recorded transactions
Zoning & alternative use
CI · Fort Myers, FL
Permitted uses
Permitted uses
Allowed · conditional · prohibited
Cap rate
Implied · in-place · derived from last sale + estimated NOI
Implied Cap rate
#1
Implied · in-place · NOI ÷ last sale
In-place · derived from last sale + estimated NOI
Cap rate, NOI & submarket benchmark
Implied cap rate vs Fort Myers submarket · NOI estimate · Typical band, median & reading
Implied cap rate, NOI & submarket benchmark
Cap vs Fort Myers submarket · NOI estimate · typical band, median & reading
Refine your cap rate
8-question underwriting flow
1.
Property current status — Going-In vs Stabilized
2.
Price for denominator — asking / offer / market
3.
Leasing status & lease structure (NNN / Gross)
4.
Tenant risk profile & vacancy assumption
5.
Upload T12 / rent roll / OM (optional)
Refine in 60 seconds, get exact suggested price
T12 upload · Submarket benchmarks · Sensitivity grid
Suggested price · 3 cap rate anchors
Income approach @ 5% / 7% / 9% — aggressive / typical / conservative
Suggested price at 5% / 7% / 9% cap
Aggressive / typical / conservative · Implied $/SF per anchor · Sensitivity grid
Suggested price at 5% / 7% / 9% cap
Aggressive / typical / conservative · implied $/SF · sensitivity
Value
AI, CAP & Alternative Use estimations · Realmo proprietary blendValue Estimations
Based on Realmo’s proprietary methodology
AI Approach
Method
Estimation
Statistic approach
$5,845,000
ML approach
$6,545,000
CAP Approach
CAP Return
Estimation
6%
by Request
6.5%
by Request
7%
by Request
Alternative Use
Use
Estimation
COMMERCIAL (GENERAL)
$8,810,000
Change: -19% · Conversion: Difficult
Blend value · Realmo final
$6.16M
Range $5.54M – $6.77M · ±10% · vs last sale $8.25M (Aug 4 2022)
Last sale anchor
$8.25M
Aug 4 2022
Realmo estimate · informational only.
These numbers are calculated by our models from public records and may not reflect actual market value.
Not an appraisal.
Verify with a licensed appraiser before transacting. Realmo accepts no liability for divergence from real-world outcomes.
View the full estimation — every method, every assumption
Confidence drivers & risk notes · Custom comparable set · Free for first 3 / day
Full estimation methodology
Every method · every assumption · confidence drivers
Price per SF
Sale + rent benchmarks
Subject property
$251 / SF
Submarket sale & rent benchmarks
Median sale $/SF · Asking & closed rent · Submarket vacancy
Submarket sale & rent benchmarks
Median sale $/SF · asking & closed rent · submarket vacancy
Property tax & assessments
Tax year 2023Property tax & assessments
Tax year 2023
Tax billed
$120,683
Tax year 2023
Assessed value
$5,825,731
Assessed 2023
Previous assessed
$3,598,893
+61.9% YoY
Effective rate
2.07%
On assessed value
Assessed land
$1,525,625
Assessed improvement
$4,300,106
Land market value
$1,525,625
Improvement market value
$4,300,106
Total market value
$5,825,731
Applied tax rate
263.0000
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
Recent comparable sales
Sale price & $/SF · sale date & distance · adjustments
Property description
Physical attributes from public recordsBuilding & lot
Public records
Property type
Hotels
Use group
HOTEL/MOTEL
Status
Off-Market
Year built
1984
Construction
CONCRETE
Heating
FORCED AIR
Cooling
AC.PACKAGE
Stories
2
Bathrooms
129
Total area
24,542 SF
Lot
2.05 ac (89,124 SF)
Zoning code
CI
APN
02-45-24-P2-00068.0010
UPID
US18-9068348
Jurisdiction
LEE
Zoning & alternative use
CI · Fort Myers, FL
Zoning CI · permitted uses
CI · Fort Myers, FL
Permitted & conditional uses
Allowed uses · Special-permit conditions · Prohibited uses
Permitted & conditional uses
Allowed · special-permit conditions · prohibited
Fort Myers. Always verify with local authorities before improvements.
Alternative use value scenarios
Repositioning upside vs current use
COMMERCIAL (GENERAL)
Est. value
$8.8M
COMMERCIAL (GENERAL)
Alternative use deep dive — conversion cost, permits, timeline
Conversion cost estimate · Permit path & risks · Stabilized NOI per option
Alternative use deep dive
Conversion cost · permit path · stabilized NOI per option
Building & site characteristics
From public records
Year built
1984
Construction
CONCRETE
Heating
FORCED AIR
Cooling
Yes
Stories
2
Bathrooms
129
Lot
2.05 ac
Current owner
From public records · entity-resolved
Pari Hospitality LLC
Entity
Mailing address
2018 AZALEA TRL, IRVING, TX 75063-5510
Ownership since
2022
Owner contacts — direct phone, email, and related entities
Decision-maker phone · Verified email · Related entities & filings
Owner contacts
Email · phone · related entities
Sales History
6 recorded events · public records
Date
Price
Buyer
Seller
Deed Type
Mortgage
Aug 4, 2022
$8,250,000
Pari Hospitality LLC
Laxmi Srq LLC
Special Warranty Deed
$5,000,000 · New Millennium Bank
Aug 4, 2022
—
Part Hospitality LLC
—
Deed
related
$1,600,000 · New Millennium Bank
Jul 21, 2021
$5,900,000
Laxmi Srq LLC
Cplg Fl Properties LLC
Special Warranty Deed
$4,600,000 · Ready Capital Corp
Jun 5, 2018
—
Cplg Fl Properties LLC
—
Deed
related
$1,035,000,000 · Jpmorgan Chase Bk NA
May 21, 2007
—
Bre Of Lq Fl Properties LLC
La Quinta Properties INC
Grant Deed
$2,075,000,000 · Bank Of America
—
—
Cplg Fl Properties LLC
—
Deed Of Trust
related
$1,035,000,000 · Jpmorgan Chase Bk NA
Coming soon
Costs & Benchmarks
Operating expenses, capex projections, utility benchmarks, and submarket comparables — all in one view.
Coming soon
Risks
Flood, climate, environmental, title, and tenant-concentration risk — surfaced with mitigations and source citations.
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