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

    9350 Workmen Way Fort Myers, FL 33905-5212

    • Flex space
    • 12,060 SF
    • 1.43 lot acres
    OFF-MARKET
    Value Estimations
    $1,175,000
    Cap Rate Potential
    Location Intelligence
    Property ID
    US19-0524863
    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

    • Morey Machining & Manufacturing / Machining Manufacturer / Machine Shop

    Property Details for 9350 Workmen Way

    Year built
    2002
    Construction
    STEEL FRAME
    Lot size
    1.43 lot acres
    Property size
    12,060 SF
    Zone code
    C-2
    Property type
    Flex space
    APN
    03-44-25-12-00000.0090
    APU
    3442512000000090

    Value Estimations

    based on Realmo’s proprietary methodology

    • AI approach

    • CAP approach

    • Comparable approach

    • Alternative Use

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

    Location Insight

    • Map
    • Local Demand
    City
    Fort Myers
    County
    Lee
    State
    Florida
    Longitude
    -81.8023
    Latitude
    26.6713
    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
    $13,094
    $269,290
    $684,004
    $953,294
    -
    $269,290
    $684,004
    $953,294

    Comparable in this City

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      94,681 SF

      5521 Division Dr

      LIGHT INDUSTRIAL • 94,681 SF
      5521 Division Dr, Fort Myers, FL 33905-5017
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    • Value Estimation
      $2,220,000
      24,930 SF

      5765 Corporation Cir

      LIGHT INDUSTRIAL • 24,930 SF
      5765 Corporation Cir, Fort Myers, FL 33905-5009
      View Details
    • Value Estimation
      $2,205,000
      24,727 SF

      5642 Enterprise Pkwy

      LIGHT INDUSTRIAL • 24,727 SF
      5642 Enterprise Pkwy, Fort Myers, FL 33905-5022
      View Details
    • Value Estimation
      $1,200,000
      15,000 SF

      4611 Cummins Ct

      LIGHT INDUSTRIAL • 15,000 SF
      4611 Cummins Ct, Fort Myers, FL 33905-3711
      View Details
    • Value Estimation by Request
      7,541 SF

      5758 Corporation Cir

      LIGHT INDUSTRIAL • 7,541 SF
      5758 Corporation Cir, Fort Myers, FL 33905-5008
      View Details
    • Value Estimation
      $800,000
      7,000 SF

      5844 Enterprise Pkwy

      LIGHT INDUSTRIAL • 7,000 SF
      5844 Enterprise Pkwy, Fort Myers, FL 33905-5001
      View Details

    Similar Nearby for Sale

    • Contact for pricing

      Office/Warehouse Space For Sale

      Newer office/warehouse with showroom, private office, and rear loading.
      1685 Target Ct, Fort Myers, FL 33905
      View Details
    • $2,690,000
      10,598 SF

      Fort Myers Industrial Warehouse Facility

      Well-maintained industrial property with office and warehouse space for sale.
      5600 Zip Dr, Fort Myers, FL 33905
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    • $6,300,000
      23,750 SF

      Fort Myers Warehouse with Fenced Yard

      Climate-controlled warehouse with office, fenced yard, and ample power.
      4840 Laredo Ave, Fort Myers, FL 33905
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    • $2,200,000
      10,000 SF

      Industrial Warehouse Building For Sale

      10,000 SF industrial warehouse with multi-tenant potential.
      5826 Corporation Cir, Fort Myers, FL 33905
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    • Contact for pricing

      Office/Warehouse Unit with 24/7 Access

      Newer office/warehouse with showroom, private office, and rear loading.
      1685 Target Ct, Fort Myers, FL 33905
      View Details
    • $5,510,000
      12 SF

      Fort Myers Land Parcel

      12.65 acres of land at Watts Road and DR MLK.
      MLK NE Cor Of Watts Rd And Dr, Fort Myers, FL 33905
      View Details

    Similar Nearby for Lease

    • $3,500 /Mo
      2,000 SF

      Flex Space Available For Rent

      Flex units with ground level doors and high ceilings.
      5701 Country Lakes Dr, Fort Myers, FL 33905
      View Details
    • $4,356 /Mo
      3,200 SF

      Renovated Office/Warehouse Unit Available

      Office/warehouse unit with renovated office and dock high doors.
      5734-5756 Corporation Cir, Fort Myers, FL 33905
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    • $2,540 /Mo
      1,600 SF

      Flex Space in Billy Creek

      Flex space available for lease in Fort Myers, Florida.
      5782 Enterprise Pkwy, Fort Myers, FL 33905
      View Details
    • Contact for pricing
      8,139 SF

      Industrial Warehouse with Fenced Lot

      8,139 SF warehouse with secure, fenced 4.30 AC lot.
      4750 Laredo Ave, Fort Myers, FL 33905
      View Details
    • $2,500 /Mo
      1,900 SF

      Industrial Space with Fenced Yard

      Industrial property for rent with paved and fenced yard.
      5882 Enterprise Pkwy, Fort Myers, FL 33905
      View Details
    • $12 SF/Yr
      3,200 SF

      Fort Myers Warehouse: 3200 SF

      Prime Fort Myers warehouse, ready for occupancy.
      5734 Corporation Cir, Fort Myers, FL 33905
      View Details
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    9350 Workmen Way
    Fort Myers, FL 33905-5212
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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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