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

    5711 Independence Cir Fort Myers, FL 33912-4402

    • Office buildings
    • 7,754 SF
    • 0.74 lot acres
    OFF-MARKET
    Last Sale
    May 12, 2023
    $1,400,000
    Value Estimations
    $1,920,000
    Show details
    Cap Rate Potential
    3.5%
    Office buildings
    Location Intelligence
    Property ID
    US18-4411706
    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

    • Loving Heart Adult Day Care / Adult Day Care Center / Senior Citizen Center
    • Globe Life American Income Division: Akinade Organization / Insurance Agency / Life Insurance Agency

    Property Details for 5711 Independence Cir

    Year built
    1999
    Construction
    MASONRY/CONCRETE MASONRY UNITS (CMUS)
    Lot size
    0.74 lot acres
    Property size
    7,754 SF
    Zone code
    IL
    Property type
    Office buildings
    APN
    25-45-24-02-0000B.0150
    APU
    254524020000B0150

    Value Estimations

    based on Realmo’s proprietary methodology

    • CAP approach

      CAP Return
      Estimation
      6%
      $2,370,000
      6.5%
      $2,185,000
      7%
      $2,030,000

    • Comparable approach

      Method
      Estimation
      AI Estimate
      $1,504,000
      Market price range: $705k - $2.25M

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

    Location Insight

    • Map
    • Local Demand
    City
    Fort Myers
    County
    Lee
    State
    Florida
    Longitude
    -81.8583
    Latitude
    26.5301
    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
    $16,635
    $618,861
    $1,020,514
    $1,639,375
    -
    $618,861
    $1,020,514
    $1,639,375

    Comparable in this City

    • Value Estimation
      $1,710,000
      8,368 SF

      13782 Plantation Rd

      PROFESSIONAL BUILDING • 8,368 SF
      13782 Plantation Rd, Fort Myers, FL 33912-4462
      View Details
    • Value Estimation
      $870,000
      4,000 SF

      14410 Metropolis Ave

      OFFICE BUILDING (MULTI-STORY) • 4,000 SF
      14410 Metropolis Ave, Fort Myers, FL 33912-4341
      View Details
    • Value Estimation
      $1,915,000
      9,639 SF

      13620 Metropolis Ave

      OFFICE BUILDING (MULTI-STORY) • 9,639 SF
      13620 Metropolis Ave, Fort Myers, FL 33912-3406
      View Details
    • Value Estimation
      $865,000
      3,187 SF

      14271 Metropolis Ave, Unit 1

      PROFESSIONAL BUILDING • 3,187 SF
      14271 Metropolis Ave, Fort Myers, FL 33912-4302
      View Details
    • Value Estimation by Request
      1,013 SF

      16560 Mass Ct, Unit 591

      OFFICE BUILDING (MULTI-STORY) • 1,013 SF
      16560 Mass Ct, Fort Myers, FL 33912-5942
      View Details
    • Value Estimation by Request
      1,964 SF

      6844 International Ctr Blvd

      OFFICE BUILDING (MULTI-STORY) • 1,964 SF
      6844 International Ctr Blvd, Fort Myers, FL 33912-7154
      View Details

    Similar Nearby for Sale

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      Lee Road Office Condo For Sale

      Office condo for sale, 2,500 SF, Lee Road location.
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      Two Class B office condo units for sale in Fort Myers.
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    • Contact for pricing
      27,192 SF

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      27,000± SF warehouse and office space near U.S. 41.
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    • New
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      New Retail Units in Fort Myers

      Modern retail units in a high-growth area with excellent visibility.
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    • New
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      New Retail Units in Fort Myers

      Modern retail units in high-growth area with excellent visibility.
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    Similar Nearby for Lease

    • $18 SF/Yr
      8,000 SF

      Turn-Key Class A Office Space

      Move-in ready, partially furnished office space for administrative, professional, or medical use.
      14241 Metro Pkwy, Fort Myers, FL 33912
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    • Contact for pricing
      10,890 SF

      Renovated Office Space Near Hospital

      Move-in ready medical/business office space near Gulf Coast Hospital.
      14090 Metropolis Ave, Fort Myers, FL 33912
      View Details
    • $15,000 /Mo
      46,914 SF

      Versatile Fort Myers Commercial Space

      C-1 zoned property ideal for various commercial uses.
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      View Details
    • Contact for pricing
      910 SF

      Fort Myers Office Space Available

      910 SF office space for rent in Fort Myers.
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      View Details
    • New
      $35 SF/Yr

      New Retail Space in Fort Myers

      Modern retail units in a high-growth area with excellent visibility.
      8156 Alico Rd, Fort Myers, FL 33912
      View Details
    • $18 SF/Yr
      294,011 SF

      Gulf Coast Industrial Campus Warehouses

      Fort Myers Industrial Space Available
      16120 Lee Rd, Fort Myers, FL 33912
      View Details
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    5711 Independence Cir
    Fort Myers, FL 33912-4402
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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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