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    583 Pondella Rd North Fort Myers, FL 33903-7117
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    Property profile & analytics

    583 Pondella Rd, North Fort Myers, FL 33903-7117

    View on Map
    • Retail space
    • 1,056 SF
    • 0.50 lot acres
    Off-Market
    Last Sale Jul 3, 2023
    $585,000
    Property ID
    US19-0110342
    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
    $585,000
    Show details
    Cap Rate Potential
    2.2%
    Retail space
    Location Intelligence

    Current Use by Public Records

    • Retail space

    Property Details for 583 Pondella Rd

    Year built
    1977
    Construction
    MASONRY/CONCRETE MASONRY UNITS (CMUS)
    Lot size
    0.50 lot acres
    Zone code
    C-1A
    Property type
    Retail space
    APN
    10-44-24-02-0000B.0010
    APU
    104424020000B0010

    Description

    Pondella Plaza, located at 583 Pondella Rd in North Fort Myers, Florida (zip code 33903), offers exceptional executive office space for lease. This Lee County property boasts a total of 1,780 square feet, with 1,580 square feet currently vacant and available for immediate occupancy. The space is divisible, with a minimum leasable area of 780 square feet and a maximum contiguous space of 800 square feet, making it ideal for a variety of business needs. The building features ample parking for tenants and their clients. The flexible zoning allows for both retail and professional uses, providing versatility for potential occupants. This prime location in North Fort Myers offers easy access to major roadways and local amenities. The property is perfect for businesses seeking a modern and functional workspace in a convenient and accessible location. The address is easily accessible via major roadways, making commuting and client visits simple. The building's design and ample parking ensure a comfortable and convenient experience for all occupants. Serious inquiries are encouraged to explore this exceptional opportunity. Contact us to schedule a viewing and discuss your specific needs.

    Value Estimations

    based on Realmo’s proprietary methodology

    • AI approach

      Method
      Estimation
      Statistic approach
      $635,000
      ML approach
      $590,000

    • Comparable approach

      Method
      Estimation
      Statistic Estimate
      $542,000
      Market price range: $166k - $542k

    • Alternative Use

      Use
      Estimation
      AUTO REPAIR, GARAGE
      $745,000
      COMMERCIAL (GENERAL)
      $655,000
      NEIGHBORHOOD: SHOPPING CENTER
      $360,000

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

    Location Insight

    • Map
    • Local Demand
    City
    North Fort Myers
    County
    Lee
    State
    Florida
    Longitude
    -81.9025
    Latitude
    26.667
    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
    $8,000
    $75,479
    $524,422
    $599,901
    -
    $75,479
    $524,422
    $599,901

    Comparable in this City

    • Value Estimation
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      8,575 SF

      19001 Tamiami Trl

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    • Value Estimation
      $825,000
      4,212 SF

      14130 Cleveland Ave

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    • Value Estimation
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      4,219 SF

      1001 Palm Ave

      RETAIL STORES (PERSONAL SERVICES)
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    • Value Estimation by Request
      1,177 SF

      982 Pondella Rd

      RETAIL STORES (PERSONAL SERVICES)
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    • Value Estimation by Request
      2,500 SF

      242 Pne Is Rd

      RETAIL STORES (PERSONAL SERVICES)
      242 Pne Is Rd, North Fort Myers, FL 33903-3742
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    • Value Estimation
      $1,555,000
      8,148 SF

      13280 Cleveland Ave

      RETAIL STORES (PERSONAL SERVICES)
      13280 Cleveland Ave, North Fort Myers, FL 33903-4833
      View Details

    Similar Nearby for Sale

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    • $2,200,000

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      Versatile 5,850 sq ft property on 0.61 acres.
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      North Fort Myers Commercial Space

      Commercial units available for lease in North Fort Myers, FL.
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    • $2,200,000
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      North Fort Myers Commercial Opportunity

      Versatile commercial property with high visibility and multiple uses.
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    Similar Nearby for Lease

    • Contact for pricing

      Retail Space in Merchants Crossing

      Prime retail space in a high-traffic North Fort Myers location.
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      2,500 SF

      Retail or Restaurant Space Available

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      Retail Space in Fort Myers

      Retail space with strong co-tenants near Walmart.
      525-535 Pine Island Rd, North Fort Myers, FL 33903
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    • New
      $1,200 /Mo
      49,833 SF

      Retail Storefront Suite

      800 SF unit in a busy neighborhood plaza with strong visibility and ample on-site parking, suited for retail or office uses.
      710 Pondella Rd, North Fort Myers, FL 33903
      View Details
    • $47,400
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      Retail Space on Piney Road

      Retail space available for rent on Piney Road.
      1254 Piney Rd, North Fort Myers, FL 33903
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    • Contact for pricing

      North Fort Myers Retail/Office Space

      Retail and office spaces available for lease in North Fort Myers.
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    North Fort Myers, FL 33903-7117
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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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