A method, apparatus and computer program product are provided to accelerate the estimation of a radio model of an access point within a radio environment, such as an access point that has been newly added to or relocated within the radio environment. In the context of a method, the presence of a first access point in a radio environment is determined and the signal propagation characteristics of one or more existing access points in the radio environment are also determined. The signal propagation characteristics are represented by respective radio models of the one or more existing access points. The method also includes estimating the radio model of the first access point based at least upon the signal propagation characteristics of the one or more existing access points in the radio environment as represented by the respective radio models of the one or more existing access points.