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    Property profile & analytics

    8945 College Pkwy Fort Myers, FL 33919-4820

    • Retail space
    • 4,227 SF
    • 0.12 lot acres
    OFF-MARKET
    Last Sale
    Feb 01, 2024
    $1,100,000
    Value Estimations
    $1,100,000
    Show details
    Cap Rate Potential
    5%
    Retail space
    Location Intelligence
    Property ID
    US18-4237885
    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

    • FrameWorks / (Bike/Boat/Book/etc) Store / Home Decor Store
    • Lasting Impressions Photography / Photography Service / (Bike/Boat/Book/etc) Store
    • Creative Photo and Digital Imaging / (Bike/Boat/Book/etc) Store

    Property Details for 8945 College Pkwy

    Year built
    1995
    Construction
    MASONRY/CONCRETE MASONRY UNITS (CMUS)
    Lot size
    0.12 lot acres
    Property size
    4,227 SF
    Zone code
    CC
    Property type
    Retail space
    APN
    15-45-24-41-00000.0010
    APU
    15452441000000010

    Value Estimations

    based on Realmo’s proprietary methodology

    • AI approach

      Method
      Estimation
      Statistic approach
      $1,100,000
      ML approach
      $1,100,000

    • CAP approach

      CAP Return
      Estimation
      6%
      $925,000
      6.5%
      $855,000
      7%
      $790,000

    • Comparable approach

      Method
      Estimation
      Statistic Estimate
      $1,098,000
      Market price range: $585k - $1.81M

    • Alternative Use

      Use
      Estimation
      RETAIL STORES
      $1,100,000
      Current use
      COMMERCIAL (GENERAL)
      $1,515,000
      Change: +38% Conversion: Easy
      MEDICAL BUILDING
      $1,125,000
      Change: +2% Conversion: Difficult
      OFFICE BUILDING
      $1,045,000
      Change: -5% Conversion: Easy
      NEIGHBORHOOD: SHOPPING CENTER
      $1,000,000
      Change: -9% Conversion: Moderate

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

    Location Insight

    • Map
    • Local Demand
    City
    Fort Myers
    County
    Lee
    State
    Florida
    Longitude
    -81.9032
    Latitude
    26.5562
    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
    $7,939
    $89,721
    $614,242
    $703,963
    -
    $89,721
    $614,242
    $703,963

    Comparable in this City

    • Value Estimation by Request
      1,215 SF

      12690 Mcgregor Blvd

      RETAIL STORES (PERSONAL SERVICES) • 1,215 SF
      12690 Mcgregor Blvd, Fort Myers, FL 33919-4442
      View Details
    • Value Estimation
      $610,000
      2,700 SF

      12709 Mcgregor Blvd, Unit 731

      RETAIL STORES (PERSONAL SERVICES) • 2,700 SF
      12709 Mcgregor Blvd, Fort Myers, FL 33919-4412
      View Details
    • Value Estimation
      $765,000
      3,375 SF

      12670 Mcgregor Blvd

      RETAIL STORES (PERSONAL SERVICES) • 3,375 SF
      12670 Mcgregor Blvd, Fort Myers, FL 33919-4442
      View Details
    • Value Estimation by Request
      2,051 SF

      8941 College Pkwy

      RETAIL STORES (PERSONAL SERVICES) • 2,051 SF
      8941 College Pkwy, Fort Myers, FL 33919-4820
      View Details
    • Value Estimation by Request
      1,520 SF

      9270 College Pkwy

      RETAIL STORES (PERSONAL SERVICES) • 1,520 SF
      9270 College Pkwy, Fort Myers, FL 33919-4812
      View Details
    • Value Estimation by Request
      2,460 SF

      13351 Mcgregor Blvd

      RETAIL STORES (PERSONAL SERVICES) • 2,460 SF
      13351 Mcgregor Blvd, Fort Myers, FL 33919-5934
      View Details

    Similar Nearby for Sale

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      Updated 4100 sqft home with pool and private suite.
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    • New
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      Waterfront Land in Fort Myers

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      Waterfront Lot Ready for Construction

      Cleared waterfront lot with Gulf access and stunning river views.
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      Waterfront Land Ready For Development

      Direct gulf access lot, ideal for custom home.
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    • $1,250,000
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      RIVERFRONT Lot in McGregor Neighborhood

      Riverfront lot with new seawall and downtown access.
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    Similar Nearby for Lease

    • $20 SF/Yr
      2,275 SF

      Retail Space in Publix-Anchored Center

      Retail space for lease in Fort Myers shopping center.
      4600 Summerlin Rd, Fort Myers, FL 33919
      View Details
    • $25 SF/Yr
      3,240 SF

      Publix-Anchored Retail Space Available

      Retail space in a busy, Publix-anchored shopping center.
      5995 S Pointe Blvd, Fort Myers, FL 33919
      View Details
    • Contact for pricing
      2,482 SF

      Retail Space in Fort Myers

      Retail spaces available in a renovated Fort Myers shopping center.
      8595-8609 College Pkwy, Fort Myers, FL 33919
      View Details
    • $9 SF/Yr
      39,664 SF

      Cypress Square: Fort Myers Office/Retail

      Prime Fort Myers location, upscale shops & restaurants.
      13451 Mcgregor Blvd, Fort Myers, FL 33919
      View Details
    • Contact for pricing

      Retail Space Near College Parkway

      Retail space available in renovated Fort Myers shopping center.
      8595 College Pkwy, Fort Myers, FL 33919
      View Details
    • $18 SF/Yr
      767 SF

      Fort Myers Office Space for Lease

      Prime location, single-tenant office.
      6360 Presidential Ct, Fort Myers, FL 33919
      View Details
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    8945 College Pkwy
    Fort Myers, FL 33919-4820
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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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