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

    924 Pne Is Rd Cape Coral, FL 33909-2552

    • Retail space
    • 9,112 SF
    • 1.96 lot acres
    OFF-MARKET
    Last Sale
    Apr 03, 2024
    $3,000,000
    Value Estimations
    $3,000,000
    Show details
    Cap Rate Potential
    4.6%
    Retail space
    Location Intelligence
    Property ID
    US18-0163952
    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

    • Redbox / Movie Rental Kiosk / Video Game Rental Kiosk
    • Dollar General / Party Store / Variety Store
    • Western Union / Money Transfer Service
    • Tip Top Arborists / Arborist And Tree Surgeon

    Property Details for 924 Pne Is Rd

    Year built
    2005
    Construction
    STEEL FRAME
    Lot size
    1.96 lot acres
    Property size
    9,112 SF
    Zone code
    CORR
    Property type
    Retail space
    APN
    07-44-24-C4-007M0.0000
    APU
    074424C4007M00000

    Description

    This exceptional 3,900 square foot commercial property, located at 924 NE Pine Island Road in Cape Coral, Florida (zip code 33909), presents a unique opportunity for businesses seeking high visibility and accessibility. The building, situated on one acre of land in Lee County, offers flexible space ideal for medical offices, traditional offices, restaurants, quick-service restaurants (QSRs), or retail shops. Currently, 2,400 square feet of space is immediately available, with a minimum divisible space of 2,400 square feet and a maximum contiguous space of 2,400 square feet. The property boasts a prime location at the signalized intersection of Pine Island Road and Andalusia Boulevard, benefiting from a high traffic count of 56,000 Annual Average Daily Traffic (AADT). This new construction offers adaptability in site design, ensuring a customizable space to meet specific business needs. The property is multi-tenant. The building is categorized as Retail, Restaurant, and Office.

    Value Estimations

    based on Realmo’s proprietary methodology

    • AI approach

      Method
      Estimation
      Statistic approach
      $3,000,000
      ML approach
      $3,000,000

    • CAP approach

      CAP Return
      Estimation
      6%
      $2,290,000
      6.5%
      $2,115,000
      7%
      $1,965,000

    • Comparable approach

      Method
      Estimation
      Statistic Estimate
      $3,870,000
      Market price range: $1.42M - $4.52M

    • Alternative Use

      Use
      Estimation
      RETAIL STORES
      $2,775,000
      Current use
      RESTAURANT
      $4,195,000
      Change: +51% Conversion: Easy
      COMMERCIAL (GENERAL)
      $3,630,000
      Change: +31% Conversion: Easy
      NEIGHBORHOOD: SHOPPING CENTER
      $3,340,000
      Change: +20% Conversion: Moderate
      MEDICAL BUILDING
      $2,800,000
      Change: +1% Conversion: Difficult

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

    Location Insight

    • Map
    • Local Demand
    City
    Cape Coral
    County
    Lee
    State
    Florida
    Longitude
    -81.9564
    Latitude
    26.6595
    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
    $41,465
    $1,262,777
    $1,186,140
    $2,448,917
    -
    $1,262,777
    $1,186,140
    $2,448,917

    Comparable in this City

    • Value Estimation
      $605,000
      6,746 SF

      16 Pne Is Rd

      RETAIL STORES (PERSONAL SERVICES) • 6,746 SF
      16 Pne Is Rd, Cape Coral, FL 33909-2560
      View Details
    • Value Estimation
      $205,000
      687 SF

      441 Del Prado Blvd N Ste, Unit 3

      RETAIL STORES (PERSONAL SERVICES) • 687 SF
      441 Del Prado Blvd N Ste, Cape Coral, FL 33909-2220
      View Details
    • Value Estimation
      $310,000
      8,450 SF

      652 Del Prado N Blvd

      RETAIL STORES (PERSONAL SERVICES) • 8,450 SF
      652 Del Prado N Blvd, Cape Coral, FL 33909-2253
      View Details
    • Value Estimation
      $710,000
      7,457 SF

      3021 Pne Is Rd

      RETAIL STORES (PERSONAL SERVICES) • 7,457 SF
      3021 Pne Is Rd, Cape Coral, FL 33909-6515
      View Details
    • Value Estimation
      $470,000
      9,033 SF

      2328 Andalusia Blvd

      RETAIL STORES (PERSONAL SERVICES) • 9,033 SF
      2328 Andalusia Blvd, Cape Coral, FL 33909-2301
      View Details
    • Value Estimation
      $580,000
      3,265 SF

      111 Del Prado N Blvd, Unit 125

      RETAIL STORES (PERSONAL SERVICES) • 3,265 SF
      111 Del Prado N Blvd, Cape Coral, FL 33909-6344
      View Details

    Similar Nearby for Sale

    • $895,000
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      Prime Commercial Condo in Cape

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      Established Print and Graphics Company

      Turn-key print and graphics company for sale in Cape Coral.
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    • $43,000
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      Cape Coral Commercial Lot Opportunity

      Commercial lot in a high-growth area, ready for development.
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      High-visibility commercial lot with approved retail plaza plans.
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      View Details
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      Cape Coral Commercial Building For Sale

      Versatile 2021 building with spray booth and 3-phase electric.
      329 NE 3Rd Ave, Cape Coral, FL 33909
      View Details

    Similar Nearby for Lease

    • Contact for pricing
      6,100 SF

      Retail Outparcel in Cape Coral

      Pad-ready retail outparcel available for ground lease or purchase.
      1133 SW Pine Island Rd, Cape Coral, FL 33909
      View Details
    • $22 SF/Yr
      1,250 SF

      Retail Space with High Visibility

      Adaptable retail space in a prime commercial district.
      1109 Del Prado Blvd S, Cape Coral, FL 33909
      View Details
    • Contact for pricing
      1,827 SF

      Retail Space on Del Prado

      High-traffic retail space in Cape Coral corridor.
      1830 Del Prado Blvd S, Cape Coral, FL 33909
      View Details
    • Contact for pricing
      2,400 SF

      Retail/Office Space on Pine Island

      Retail, office, or restaurant space available at a signalized intersection.
      924 NE Pine Island Rd, Cape Coral, FL 33909
      View Details
    • $22 SF/Yr
      2,418 SF

      Prime Commercial Space on Del Prado

      2,400 SF commercial space on Cape Coral's busiest road.
      304-308 Del Prado Blvd S, Cape Coral, FL 33909
      View Details
    • $26 SF/Yr
      2,200 SF

      Retail Space in Cape Coral

      Retail space available for rent in Cape Coral, Florida.
      1260 NE Pine Island Rd, Cape Coral, FL 33909
      View Details
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    Cape Coral, FL 33909-2552
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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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