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Property profile & analytics
OFF-MARKET Estimated value $1,430,000
Office buildings

7128 Estero Blvd 32 Fort Myers Beach, FL 33931-4706

5,537 SF 0.61 ac lot Built 1979
Entity Owned 20-yr Hold Free & Clear
Property ID
US18-2735402
Property summary
AI-generated overview

This exceptional 7,709-square-foot office building presents a unique redevelopment opportunity on the south end of Fort Myers Beach, Florida. Situated on a 0.67-acre lot at 7128 Estero Blvd, zip code 33931, in Lee County, this two-story structure is currently vacant, offering a blank canvas for a discerning investor. The property is zoned CO and boasts a prime location directly across from Santini Plaza, surrounded by high-rise condominiums and upscale retail establishments. This makes it an ideal location to capitalize on the thriving Fort Myers Beach market, particularly given its position in the area that was first to recover. A recent engineering evaluation confirmed the building's structural soundness, and it falls under the 50% rule, allowing for significant rebuilding. Contractor estimates place the cost of a high-end rebuild at $155 per square foot. The property's high visibility and proximity to a bustling retail hub offer immense potential for a variety of uses, including medical and traditional office spaces. This is a rare chance to acquire a substantial property in a highly desirable location with significant upside potential. The building consists of one structure with a total of 7,709 square feet of net rentable space.

Property profile
Verified
Property type Office buildings
Use group OFFICE BUILDING (MULTI-STORY)
Year built 1979
Construction MASONRY/CONCRETE MASONRY UNITS (CMUS)
Total area 5,537 SF
Lot 0.61 ac (26,528 SF)
Zoning code CO
APN 03-47-24-W1-00008.0010
UPID US18-2735402
Cap rate & NOI
Priority signal for investors
Implied cap rate, NOI & suggested price
Cap rate vs submarket · NOI estimate · 3 price anchors
Implied cap rate, NOI & suggested price
Cap vs submarket · NOI estimate · 3 price anchors
Current use
Occupant on record · Public records
  • Esterra Spa & Salon Spa & Massage Center
Value estimations
Realmo proprietary · 4 methods
AI Approach AI
by Request
CAP Approach CAP
$1.56M
Comparable Approach Comparable
by Request
Blend (final) Blend
$1.43M
Owner & transaction history
Multilateral Partners · 20 yrs held
Multilateral Partners
since 2006
4 recorded transactions
2006
$1.7M
2006
Price N/A
1969
Price N/A
1969
Price N/A
Zoning & alternative use
CO · Fort Myers Beach, FL
Permitted uses
Permitted uses
Allowed · conditional · prohibited
Top alternative use upside
Neighborhood: shopping center $1.9M +18.0%
Retail stores $1.7M +8.5%
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