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    5615 2nd W St Lehigh Acres, FL 33971-6332
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    Property profile & analytics

    5615 2nd W St, Lehigh Acres, FL 33971-6332

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    • Warehouses
    • 7,800 SF
    • 0.73 lot acres
    Off-Market
    Property ID
    US18-4976110
    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
    $810,000
    Show details
    Cap Rate Potential
    Location Intelligence

    Current Use by Public Records

    • Marathon Engineering Corporation / Engineer
    • RQAW Corporation / Architect / Engineering Consultant

    Property Details for 5615 2nd W St

    Year built
    2006
    Construction
    STEEL FRAME
    Lot size
    0.73 lot acres
    Zone code
    IL
    Property type
    Warehouses
    APN
    30-44-26-00-00001.0290
    APU
    30442600000010290

    Sales History

    Date Price Buyer Seller Deed Type Mortgage
    Feb 16, 2023 — Marathon Engineering Corporation — Deed · related $450k · Newtek Small Business Finance LLC
    Nov 17, 2022 — Marathon Engineering Corp — Deed · related $325k · Sanibel Captiva Community Bank
    Nov 16, 2022 — Marathon Engineering Corporation — Deed · related $390k · Sanibel Captiva Community Bank
    Apr 21, 2006 $780,000 Marathon Engineering Corp Robert Lemon Warranty Deed $585k · Wells Fargo Financial Leasing Flori
    Apr 6, 2006 $663,000 Robert Lemon Palomba,michael A & Sharon K Warranty Deed —
    Feb 9, 2006 $1,506,000 Robert Lemon Palomba,michael A & Sharon K Warranty Deed —
    May 23, 2005 $1,191,500 Michael A Palomba Advance Florida Properties LLC Warranty Deed $2.5M · Community Bank Of Naples NA
    Feb 14, 2005 $269,400 Advance Florida Properties LLC Advance Homes INC Quit Claim Deed · related —
    — — Marathon Engineering Corp — Deed Of Trust · related $450k · Newtek Small Busn Fin

    Value Estimations

    based on Realmo’s proprietary methodology

    • Comparable approach

      Method
      Estimation
      AI Estimate
      $588,000
      Market price range: $244k - $1.00M

    • Alternative Use

      Use
      Estimation
      WAREHOUSE, STORAGE
      $1,210,000
      Current use

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

    Location Insight

    • Map
    • Local Demand
    City
    Lehigh Acres
    County
    Lee
    State
    Florida
    Longitude
    -81.7544
    Latitude
    26.6138
    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
    $9,070
    $240,272
    $709,120
    $949,392
    -
    $240,272
    $709,120
    $949,392

    Comparable in this City

    • Value Estimation
      $805,000
      7,800 SF

      5601 2nd W St

      WAREHOUSE, STORAGE
      5601 2nd W St, Lehigh Acres, FL 33971-6332
      View Details
    • Value Estimation
      $830,000
      8,825 SF

      5566 6th W St

      WAREHOUSE, STORAGE
      5566 6th W St, Lehigh Acres, FL 33971-6327
      View Details
    • Value Estimation
      $7,485,000
      68,101 SF

      800 Abrams Blvd

      MINI-WAREHOUSE, STORAGE
      800 Abrams Blvd, Lehigh Acres, FL 33971-6418
      View Details
    • Value Estimation
      $1,660,000
      18,204 SF

      5592 Lee St

      WAREHOUSE, STORAGE
      5592 Lee St, Lehigh Acres, FL 33971-1520
      View Details
    • Value Estimation
      $2,035,000
      12,400 SF

      5450 Lee St, Unit 5520

      WAREHOUSE, STORAGE
      5450 Lee St, Lehigh Acres, FL 33971-1551
      View Details
    • Value Estimation
      $915,000
      12,500 SF

      410 Leonard N Blvd

      WAREHOUSE, STORAGE
      410 Leonard N Blvd, Lehigh Acres, FL 33971-6326
      View Details

    Similar Nearby for Sale

    • New
      $1,600,000
      Pending

      Lehigh Acres Industrial Warehouse

      Industrial warehouse with office space in Westgate Industrial Park.
      5605 2Nd St W, Lehigh Acres, FL 33971
      View Details
    • $449,000

      Lehigh Acres Industrial Flex Space

      Well-maintained 1,916 SF industrial/flex space in Lehigh Acres.
      5483 Lee St, Lehigh Acres, FL 33971
      View Details
    • $41,000
      0.25 Acres

      Land in Growing Lehigh Acres

      Ideal land to build your dream home or invest.
      3304 52Nd St W, Lehigh Acres, FL 33971
      View Details
    • Contact for pricing
      0.25 Acres

      Lehigh Acres Corner Lot

      Spacious corner lot in a rapidly developing Lehigh Acres area.
      3326 53Rd St W, Lehigh Acres, FL 33971
      View Details
    • $39,000
      Pending

      Corner Lot in Lehigh Acres

      Oversized corner lot near amenities and I-75.
      1028 Atherton Ave, Lehigh Acres, FL 33971
      View Details
    • $34,900
      0.25 Acres

      Residential Land in Lehigh Acres

      Quarter-acre residential land near Sunshine Blvd in Lehigh Acres, FL.
      4631 Karen Ave N, Lehigh Acres, FL 33971
      View Details

    Similar Nearby for Lease

    • $12 SF/Yr

      Industrial Warehouse in Southwest Florida

      18,797 SF warehouse for lease in growing commercial corridor.
      5607 8Th St W, Lehigh Acres, FL 33971
      View Details
    • Contact for pricing

      Industrial Flex Space Sublease

      Versatile industrial flex space in Lehigh Acres available for sublease.
      5441 Lee St, Lehigh Acres, FL 33971
      View Details
    • $2,000 /Mo
      1,050 SF

      Lehigh Acres Warehouse/Flex Space

      Industrial warehouse/flex space with fenced outdoor storage available for lease.
      5619 8Th St W, Lehigh Acres, FL 33971
      View Details
    • Contact for pricing
      1,800 SF

      Industrial Flex Space For Rent

      Light industrial flex space with convenient access to major routes.
      5565 Lee St, Lehigh Acres, FL 33971
      View Details
    • Contact for pricing

      Retail Development Land Opportunity

      Master-planned retail development land for lease in Lehigh Acres.
      3614 5Th St W, Lehigh Acres, FL 33971
      View Details
    • Contact for pricing
      2,400 SF

      Retail Space in Publix-Anchored Center

      Retail space in high-growth area near Lee/Colonial Boulevard intersection.
      5781 Lee Blvd, Lehigh Acres, FL 33971
      View Details
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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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