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

    7899 Drew Cir Fort Myers, FL 33967-6014

    • Warehouses
    • 25,176 SF
    • 1.95 lot acres
    OFF-MARKET
    Value Estimations
    $4,425,000
    Show details
    Cap Rate Potential
    Location Intelligence
    Property ID
    US18-9455628
    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

    • Red Rover Moving & Storage Fort Myers / Moving And Storage Service

    Property Details for 7899 Drew Cir

    Year built
    2006
    Construction
    STEEL FRAME
    Lot size
    1.95 lot acres
    Property size
    25,176 SF
    Zone code
    IPD
    Property type
    Warehouses
    APN
    08-46-25-57-00000.0190
    APU
    8462557000000190

    Value Estimations

    based on Realmo’s proprietary methodology

    • CAP approach

      CAP Return
      Estimation
      6%
      $4,280,000
      6.5%
      $3,950,000
      7%
      $3,665,000

    • Comparable approach

      Method
      Estimation
      Statistic Estimate
      $5,299,000
      Market price range: $3.41M - $6.78M
      AI Estimate
      $4,031,000
      Market price range: $1.78M - $4.93M

    • Alternative Use

      Use
      Estimation
      WAREHOUSE, STORAGE
      $4,930,000
      Current use
      OFFICE BUILDING
      $6,895,000
      Change: +40% Conversion: Difficult
      MEDICAL BUILDING
      $6,690,000
      Change: +36% Conversion: Difficult
      RETAIL STORES
      $6,555,000
      Change: +33% Conversion: Moderate
      NEIGHBORHOOD: SHOPPING CENTER
      $5,955,000
      Change: +21% Conversion: Moderate

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

    Location Insight

    • Map
    • Local Demand
    City
    Fort Myers
    County
    Lee
    State
    Florida
    Longitude
    -81.8241
    Latitude
    26.4865
    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
    $36,435
    $694,057
    $3,843,749
    $4,537,806
    -
    $694,057
    $3,843,749
    $4,537,806

    Comparable in this City

    • Value Estimation
      $1,520,000
      11,100 SF

      17312 Alico Ctr Rd

      WAREHOUSE, STORAGE • 11,100 SF
      17312 Alico Ctr Rd, Fort Myers, FL 33967-6061
      View Details
    • Value Estimation
      $5,720,000
      58,765 SF

      17080 Alico Commerce Ct

      WAREHOUSE, STORAGE • 58,765 SF
      17080 Alico Commerce Ct, Fort Myers, FL 33967-8509
      View Details
    • Value Estimation by Request
      600 SF

      17530 Rockefeller Cir

      WAREHOUSE, STORAGE • 600 SF
      17530 Rockefeller Cir, Fort Myers, FL 33967-5844
      View Details
    • Value Estimation by Request
      2,200 SF

      17282 Alico Ctr Rd

      WAREHOUSE, STORAGE • 2,200 SF
      17282 Alico Ctr Rd, Fort Myers, FL 33967
      View Details
    • Value Estimation by Request
      2,799 SF

      17492 Rockefeller Cir

      WAREHOUSE, STORAGE • 2,799 SF
      17492 Rockefeller Cir, Fort Myers, FL 33967-5804
      View Details
    • Value Estimation
      $1,655,000
      9,477 SF

      17162 Alico Ctr Rd

      WAREHOUSE, STORAGE • 9,477 SF
      17162 Alico Ctr Rd, Fort Myers, FL 33967-6024
      View Details

    Similar Nearby for Sale

    • $375,000
      1,250 SF

      Industrial Condominium with Office Space

      Industrial condominium with office space available for immediate occupancy.
      17030 Alico Commerce Ct, Fort Myers, FL 33967
      View Details
    • $454,900
      0.04 Acres

      Luxury Storage Condo in Fort Myers

      Premier storage condo with high-end finishes and 24/7 security.
      17821 Toy Vault Ln, Fort Myers, FL 33967
      View Details
    • $229,900

      Luxury Storage Unit in Fort Myers

      High-end storage for vehicles, RVs, boats, and collectibles.
      17870 Toy Vault Ln, Fort Myers, FL 33967
      View Details
    • $999,000

      Luxury Auto Storage Community

      Luxury auto and motorcoach storage units with premium amenities.
      9946 Tuscany A, Fort Myers, FL 33967
      View Details
    • $210,000
      0.01 Acres

      Luxury Storage Unit in Fort Myers

      Immaculate storage unit ideal for vehicle, RV, or boat storage.
      17860 Toy Vault Ln, Fort Myers, FL 33967
      View Details
    • $2,550,000
      2 SF

      Alico Road Commercial Land Parcel

      2.34+/- acres of graveled, fenced land in Alico Road Corridor.
      17174 Jean St, Fort Myers, FL 33967
      View Details

    Similar Nearby for Lease

    • $11 SF/Yr
      2,142 SF

      Industrial Warehouse Space For Rent

      2,142 square feet warehouse space available for lease.
      17341 Alico Center Rd, Fort Myers, FL 33967
      View Details
    • Contact for pricing
      153,000 SF

      Industrial Park Warehouse Opportunity

      Industrial park with warehouse space for lease in Fort Myers.
      3 Oaks Pkwy, Fort Myers, FL 33967
      View Details
    • $16,672 /Mo
      10,010 SF

      New Industrial Space, Fort Myers

      Under construction industrial space in Alico Commercial Park.
      7917 Drew Cir, Fort Myers, FL 33967
      View Details
    • Contact for pricing
      3,939 SF

      Fort Myers Flex/Industrial Space

      First-class industrial park, strategic location for warehouse, distribution, flex/office.
      7800 Drew Cir, Fort Myers, FL 33967
      View Details
    • $2,500 /Mo
      11,197 SF

      Industrial Warehouse with Mezzanine Storage

      Industrial warehouse space with mezzanine storage for lease in Fort Myers.
      17433 Alico Center Rd, Fort Myers, FL 33967
      View Details
    • $16 SF/Yr
      19,741 SF

      Fort Myers Commercial Space Available

      Office and warehouse space with fenced yard and truck-well.
      17251 Alico Center Rd, Fort Myers, FL 33967
      View Details
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    7899 Drew Cir
    Fort Myers, FL 33967-6014
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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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