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

    603 Leonard N Blvd Lehigh Acres, FL 33971-6300

    • Office buildings
    • 2,160 SF
    • 0.69 lot acres
    OFF-MARKET
    Value Estimations
    $350,000
    Show details
    Cap Rate Potential
    Location Intelligence
    Property ID
    US18-4436657
    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

    • Aqua Care / Water Softening Equipment Supplier

    Property Details for 603 Leonard N Blvd

    Year built
    1960
    Construction
    MASONRY/CONCRETE MASONRY UNITS (CMUS)
    Lot size
    0.69 lot acres
    Property size
    2,160 SF
    Zone code
    IL
    Property type
    Office buildings
    APN
    30-44-26-01-00002.001A
    APU
    3044260100002001A

    Value Estimations

    based on Realmo’s proprietary methodology

    • AI approach

      Method
      Estimation
      ML approach
      $270,000

    • Comparable approach

      Method
      Estimation
      Statistic Estimate
      $430,000
      Market price range: $252k - $772k
      AI Estimate
      $268,000
      Market price range: $269k - $372k

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

    Location Insight

    • Map
    • Local Demand
    City
    Lehigh Acres
    County
    Lee
    State
    Florida
    Longitude
    -81.7567
    Latitude
    26.619
    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
    $4,977
    $106,627
    $258,396
    $365,023
    -
    $106,627
    $258,396
    $365,023

    Comparable in this City

    • Value Estimation
      $55,000
      4,420 SF

      403 Joan N Ave

      OFFICE BUILDING (MULTI-STORY) • 4,420 SF
      403 Joan N Ave, Lehigh Acres, FL 33971-1927
      View Details
    • Value Estimation
      $75,000
      2,166 SF

      4503 Lee Blvd

      OFFICE BUILDING (MULTI-STORY) • 2,166 SF
      4503 Lee Blvd, Lehigh Acres, FL 33971-1628
      View Details
    • Value Estimation
      $285,000
      1,699 SF

      2814 Lee Blvd Ste, Unit 2

      PROFESSIONAL BUILDING • 1,699 SF
      2814 Lee Blvd Ste, Lehigh Acres, FL 33971-1561
      View Details
    • Value Estimation
      $1,575,000
      6,085 SF

      201 Waldo Ave

      OFFICE BUILDING (MULTI-STORY) • 6,085 SF
      201 Waldo Ave, Lehigh Acres, FL 33971-6336
      View Details
    • Value Estimation
      $275,000
      1,100 SF

      4109 Lee Blvd

      OFFICE BUILDING (MULTI-STORY) • 1,100 SF
      4109 Lee Blvd, Lehigh Acres, FL 33971-1723
      View Details
    • Value Estimation
      $360,000
      4,940 SF

      2913 Lee Blvd

      OFFICE BUILDING (MULTI-STORY) • 4,940 SF
      2913 Lee Blvd, Lehigh Acres, FL 33971-1438
      View Details

    Similar Nearby for Sale

    • $2,200,000
      2.20 Acres

      Lehigh Acres Commercial Opportunity

      2.2-acre commercial site with high visibility and flexible zoning.
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    • $449,000
      1,916 SF

      Lehigh Acres Industrial Flex Space

      Well-maintained 1,916 SF industrial/flex space in Lehigh Acres.
      5483 Lee St, Lehigh Acres, FL 33971
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    • $35,000
      0.25 Acres

      Lehigh Acres Land For Sale

      Residential land available in Lehigh Acres, Florida for sale.
      68th 3509 St, Lehigh Acres, FL 33971
      View Details
    • Contact for pricing
      0.25 Acres

      Residential Lot in Lehigh Acres

      Vacant residential lot in growing Lehigh Acres, Florida.
      3613 67Th St W, Lehigh Acres, FL 33971
      View Details
    • Contact for pricing

      Lee Blvd Commercial Land Opportunity

      Prime Lehigh Acres commercial land.
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    • Contact for pricing

      Lehigh Acres Commercial Land Investment

      Prime 10,624 sq ft lot; residential & commercial potential.
      1058 Chandlee St, Lehigh Acres, FL 33971
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    Similar Nearby for Lease

    • Contact for pricing

      Lee County Retail Pads - 4 Spaces

      Prime Lee County retail land, four build-to-suit pads.
      0 Cor Of Alvin Ave And Lee Blvd, Lehigh Acres, FL 33971
      View Details
    • $2,100 /Mo

      Duplex with Modern Finishes

      Two 3BD/2BA units, modern finishes, ideal for investors.
      2516 Park Rd, Lehigh Acres, FL 33971
      View Details
    • Contact for pricing
      6,592 SF

      New Automotive Building For Lease

      New construction automotive building with eight service bays available 3Q25.
      5571 Lee Blvd, Lehigh Acres, FL 33971
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    • $15 SF/Yr
      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
      465,656 SF

      Lee Blvd Commercial Land Opportunity

      Lehigh Acres land, multiple parcels available.
      3614 5Th St, Lehigh Acres, FL 33971
      View Details
    • $20 SF/Yr
      2,310 SF

      Industrial Space in Lehigh Acres

      Industrial property available for rent in Lehigh Acres, Florida.
      5441 Lee St, Lehigh Acres, FL 33971
      View Details
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    603 Leonard N Blvd
    Lehigh Acres, FL 33971-6300
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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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