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    The Largest CRE Database in the US with Over 1 Million Listings
    Property profile & analytics

    5656 7th Ave Fort Myers, FL 33907-2927

    • Residential income homes
    • 1,750 SF
    • 0.23 lot acres
    OFF-MARKET
    Value Estimations
    $325,000
    Show details
    Cap Rate Potential
    6.7%
    Residential income homes
    Location Intelligence
    Property ID
    US18-5026626
    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

    • Residential income homes

    Property Details for 5656 7th Ave

    Year built
    1996
    Construction
    FRAME
    Lot size
    0.23 lot acres
    Property size
    1,750 SF
    Zone code
    TFC-2
    Property type
    Residential income homes
    Property subtype
    Serviced apartments
    APN
    11-45-24-04-00022.0140
    APU
    11452404000220140

    Value Estimations

    based on Realmo’s proprietary methodology

    • AI approach

      Method
      Estimation
      ML approach
      $320,000

    • CAP approach

      CAP Return
      Estimation
      6%
      $360,000
      6.5%
      $330,000
      7%
      $305,000

    • Alternative Use

      Use
      Estimation
      APARTMENT HOUSE (5+ UNITS)
      $240,000
      Current use
      COMMERCIAL (GENERAL)
      $515,000
      Change: +114% Conversion: Moderate
      OFFICE BUILDING
      $435,000
      Change: +83% Conversion: Moderate
      AUTO REPAIR, GARAGE
      $360,000
      Change: +50% Conversion: Difficult
      RETAIL STORES
      $275,000
      Change: +15% Conversion: Difficult
      WAREHOUSE, STORAGE
      $195,000
      Change: -19% Conversion: Difficult

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

    Location Insight

    • Map
    • Local Demand
    City
    Fort Myers
    County
    Lee
    State
    Florida
    Longitude
    -81.8792
    Latitude
    26.5688
    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
    $0.00
    $20,298
    $151,386
    $171,684
    -
    $20,298
    $151,386
    $171,684

    Comparable in this City

    • Value Estimation
      $340,000
      1,574 SF

      5420-5424 7th Ave

      BOARDING/ROOMING HOUSE • 1,574 SF
      5420-5424 7th Ave, Fort Myers, FL 33907
      View Details
    • Value Estimation
      $355,000
      1,792 SF

      5638 7th Ave

      BOARDING/ROOMING HOUSE • 1,792 SF
      5638 7th Ave, Fort Myers, FL 33907-2927
      View Details
    • Value Estimation by Request
      45,825 SF

      8372 Beacon Blvd

      Multifamily properties • 45,825 SF
      8372 Beacon Blvd, Fort Myers, FL 33907
      View Details
    • Value Estimation
      $385,000
      2,466 SF

      1870 Colonial Blvd

      APARTMENT HOUSE (5+ UNITS) • 2,466 SF
      1870 Colonial Blvd, Fort Myers, FL 33907-1301
      View Details
    • Value Estimation by Request
      96,600 SF

      200 Dahlia Ln

      Multifamily properties • 96,600 SF
      200 Dahlia Ln, Fort Myers, FL 33907
      View Details
    • Value Estimation
      $220,000
      1,359 SF

      10970 Cleveland Ave Ste, Unit 403

      STORE/OFFICE (MIXED USE) • 1,359 SF
      10970 Cleveland Ave Ste, Fort Myers, FL 33907-2315
      View Details

    Similar Nearby for Sale

    • $305,000
      0.13 Acres

      Fort Myers Duplex Income Opportunity

      Well-located Fort Myers duplex with rental appeal and income potential.
      5462/5464 10Th Ave, Fort Myers, FL 33907
      View Details
    • $10,500,000
      45,825 SF

      Palm Villas: Fort Myers Multifamily

      64-unit apartment complex, strong ROI
      8372 Beacon Blvd, Fort Myers, FL 33907
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    • Contact for pricing
      96,600 SF

      Fort Myers Multifamily Investment

      70-unit apartment complex, value-add opportunity.
      200 Dahlia Ln, Fort Myers, FL 33907
      View Details
    • $278,000
      0.17 Acres

      Turnkey Duplex in Pine Manor

      Income-producing duplex near US-41, Page Field, and Downtown Fort Myers.
      5518/5520 3Rd Ave, Fort Myers, FL 33907
      View Details
    • $289,000
      0.13 Acres

      Fort Myers Duplex Income Opportunity

      Duplex in central Fort Myers, ideal for investors or owner-occupants.
      5458/5460 10Th Ave, Fort Myers, FL 33907
      View Details
    • $189,000
      Pending

      Fort Myers Duplex with Recent Upgrades

      Duplex in Fort Myers with new roofs and impact windows.
      5637-5639 5Th Ave, Fort Myers, FL 33907
      View Details

    Similar Nearby for Lease

    • $15 SF/Yr
      33,000 SF

      Fort Myers Office Space Available

      Prime Office Suites, College Parkway Location
      7370 College Pkwy, Fort Myers, FL 33907
      View Details
    • $10 SF/Yr
      133,624 SF

      Pinebrook Park Office Space For Lease

      Fort Myers Office/Retail Space Available
      12995 Cleveland Ave, Fort Myers, FL 33907
      View Details
    • Contact for pricing
      3,300 SF

      Fort Myers Retail Space For Lease

      Prime 3,300 SF Retail Building in Fort Myers
      12916 Cleveland Ave, Fort Myers, FL 33907
      View Details
    • $17 SF/Yr
      7,699 SF

      Summerlin Executive Office Suites

      Fort Myers Office Space: 3 Suites Available
      5252-5294 Summerlin Commons Way, Fort Myers, FL 33907
      View Details
    • Contact for pricing
      1 SF

      Prime Fort Myers Retail Space

      High-traffic location, multiple tenants.
      9001 Tamiami Trl, Fort Myers, FL 33907
      View Details
    • Contact for pricing
      2,400 SF

      Retail Space on S Cleveland

      Retail space available with frontage on S Cleveland Avenue.
      11609 S Cleveland Ave, Fort Myers, FL 33907
      View Details
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    5656 7th Ave
    Fort Myers, FL 33907-2927
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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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