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    Property profile & analytics

    9430 Workmen Way Fort Myers, FL 33905-5213

    • Warehouses
    • 4,590 SF
    • 0.47 lot acres
    OFF-MARKET
    Value Estimations
    $760,000
    Show details
    Cap Rate Potential
    Location Intelligence
    Property ID
    US18-2088240
    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

    • U-NIK Granite and Marble Inc. / Kitchen & Bath Showroom / Hardware & Home Improvement

    Property Details for 9430 Workmen Way

    Year built
    2003
    Construction
    STEEL FRAME
    Lot size
    0.47 lot acres
    Property size
    4,590 SF
    Zone code
    C-2
    Property type
    Warehouses
    APN
    03-44-25-12-00000.0140
    APU
    3442512000000140

    Value Estimations

    based on Realmo’s proprietary methodology

    • CAP approach

      CAP Return
      Estimation
      6%
      $780,000
      6.5%
      $720,000
      7%
      $670,000

    • Comparable approach

      Method
      Estimation
      AI Estimate
      $542,000
      Market price range: $151k - $675k

    • Alternative Use

      Use
      Estimation
      WAREHOUSE, STORAGE
      $1,135,000
      Current use
      OFFICE BUILDING
      $1,255,000
      Change: +10% Conversion: Difficult
      MEDICAL BUILDING
      $1,220,000
      Change: +7% Conversion: Difficult
      RETAIL STORES
      $1,195,000
      Change: +5% Conversion: Moderate
      NEIGHBORHOOD: SHOPPING CENTER
      $1,085,000
      Change: -5% Conversion: Moderate

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

    Location Insight

    • Map
    • Local Demand
    City
    Fort Myers
    County
    Lee
    State
    Florida
    Longitude
    -81.8011
    Latitude
    26.6715
    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
    $7,753
    $302,279
    $585,339
    $887,618
    -
    $302,279
    $585,339
    $887,618

    Comparable in this City

    • Value Estimation
      $1,875,000
      13,050 SF

      4610 Elevation Way

      WAREHOUSE, STORAGE • 13,050 SF
      4610 Elevation Way, Fort Myers, FL 33905-4919
      View Details
    • Value Estimation
      $985,000
      7,000 SF

      5660 Division Dr

      WAREHOUSE, STORAGE • 7,000 SF
      5660 Division Dr, Fort Myers, FL 33905-5012
      View Details
    • Value Estimation
      $1,245,000
      10,000 SF

      5421 Division Dr

      WAREHOUSE, STORAGE • 10,000 SF
      5421 Division Dr, Fort Myers, FL 33905-5011
      View Details
    • Value Estimation
      $1,945,000
      16,800 SF

      5400 Division Dr

      WAREHOUSE, STORAGE • 16,800 SF
      5400 Division Dr, Fort Myers, FL 33905-5016
      View Details
    • Value Estimation
      $715,000
      4,500 SF

      4555 Laredo Ave

      WAREHOUSE, STORAGE • 4,500 SF
      4555 Laredo Ave, Fort Myers, FL 33905-4910
      View Details
    • Value Estimation by Request
      1,525 SF

      5670 Zip Dr

      WAREHOUSE, STORAGE • 1,525 SF
      5670 Zip Dr, Fort Myers, FL 33905-5028
      View Details

    Similar Nearby for Sale

    • Contact for pricing
      8,417 SF

      Office/Warehouse Facility with Land

      State-of-the-art office/warehouse facility with additional land for sale.
      4681 Elevation Way, Fort Myers, FL 33905
      View Details
    • $2,100,000

      Fort Myers Industrial Warehouse Building

      10,000 SF industrial warehouse building in Fort Myers, FL.
      5826-5830 Corporation Cir, Fort Myers, FL 33905
      View Details
    • $4,800,000
      20,000 SF

      Industrial Warehouse For Sale

      Single-tenant industrial warehouse available for purchase.
      5893 Enterprise Pkwy, Fort Myers, FL 33905
      View Details
    • Contact for pricing

      Benchmark Area Flex Space Available

      Flex space with office, drive-in doors, and parking.
      1687 Benchmark Ave, Fort Myers, FL 33905
      View Details
    • Contact for pricing
      23,471 SF

      Established Self-Storage Facility For Sale

      Well-located self-storage facility in Fort Myers, Florida.
      12644 Palm Beach Blvd, Fort Myers, FL 33905
      View Details

    Similar Nearby for Lease

    • Contact for pricing

      Benchmark Area Flex Space

      Flex space in Benchmark area with office and drive-in doors.
      1681 Benchmark Ave, Fort Myers, FL 33905
      View Details
    • $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
    • Contact for pricing

      5826 Corporation Cir, Fort Myers, FL 33905

      Warehouses
      5826 Corporation Cir, Fort Myers, FL 33905
      View Details
    • Contact for pricing
      1,600 SF

      Renovated Office/Warehouse Unit Available

      Office/warehouse unit with renovated office and dock high doors.
      5734-5756 Corporation Cir, Fort Myers, FL 33905
      View Details
    • $18 SF/Yr

      Industrial Warehouse Near I-75

      Air-conditioned warehouse with mezzanine office and outdoor storage.
      2020 Ortiz Ave, Fort Myers, FL 33905
      View Details
    • Contact for pricing
      2,200 SF

      Flex Space in Billy Creek

      Flex space available for lease in Fort Myers, Florida.
      5782 Enterprise Pkwy, Fort Myers, FL 33905
      View Details
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    9430 Workmen Way
    Fort Myers, FL 33905-5213
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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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