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    17383 + 17395 Cleveland Dr lot 34 Fort Myers, FL 33967

    View on Map
    For Sale
    $619,000

    MULTI_FAMILY - FORT MYERS, FL

    Lot size:
    0.35 Acres
    Added:
    Mar 18, 2026
    Days on Market:
    15
    Last Refresh:
    Apr 1 at 2:06 pm

    Property Features for 17383 + 17395 Cleveland Dr lot 34

    General Information

    Property type
    Residential Multi Family
    Property subtype
    Other
    Zoning
    RM-2
    Bedrooms
    6
    Bathrooms
    4
    Rooms
    Bathroom 1, Bathroom 2, Bathroom 3, Bedroom 5, Bathroom 4, Bedroom 6, Bedroom 1, Bedroom 3, Bedroom 4, Bedroom 2
    Patio and Porch features
    Deck, Patio
    Pets allowed
    No
    Appliances
    Water Softener
    Standard status
    Active
    Lot size
    0.35 Acres

    Taxes and HOA fees

    TaxYear
    2023
    TaxDescription
    SAN CARLOS PK N ADDN BLK 20 PB 28 PG 16 LOTS 34 THRU 39
    TaxAnnualAmount
    5325

    Utilities

    Utilities
    Cable Available
    Sewer type
    Septic Tank
    Heating system
    Central, Electric (Heating)
    Cooling system
    Ceiling Fan(s), Electric, Central Air
    Water source
    Well

    Building Details

    Year built
    2005
    Floors in Building
    1
    Number of units
    2
    Flooring type
    Tile, Vinyl, Laminate
    Building materials
    Concrete Block, Stucco
    Roof type
    Shingle

    We can help!

    Listing Contact
    Brigitte Kratzat

    Listing agent Brigitte Kratzat

    Listing office 24Florida Fort Myers, FL

    Listing date Mar 18, 2026

    MLS# 226011912

    Copyright © 2026 Bonita Springs-Estero REALTORS. All rights reserved. All information provided by the listing agent/broker is deemed reliable but is not guaranteed and should be independently verified.

    Overview

    Updated Duplex in Fort Myers

    This updated duplex in Fort Myers presents a rental income opportunity. Constructed in 2005 with concrete block, the property features a new roof installed in 2024 and fresh exterior paint also completed in 2024. Each side of the duplex includes 3 bedrooms and 2 bathrooms, along with island kitchen counters. Kitchens are updated with new white 40" cabinets, a new refrigerator, and a new microwave on one side. Bathrooms in one unit have been renovated with a walk-in shower and rain shower, while the guest bathroom features a new bathtub and large black tiles. Flooring consists of porcelain tile and new waterproof laminate in modern colors. Each unit has an attached garage with washer and dryer connections and a motorized garage door opener. The property includes an oversized lot with a large terrace deck. Newer A/C units were installed in 2020 and 2023 on both sides, and new water equipment was installed in 2024. A new drain-field is planned for 2025. Located in San Carlos Park, the property is near shopping, restaurants, US41, I-75, and the Fort Myers international airport. The property is currently rented.
    Property Profile Insight Report Location Intelligence

    Current Use by Public Records

    Duplexes

    Suggested Use

    Real Estate Agency Law Firm Restaurant Spa & Massage Center Dental Office Hair Salon Nail Salon Gym & Fitness Center Daycare Center Accounting Firm

    Zoning and permitted uses should be independently verified with local authorities.

    Location Insight

    • Map
    • Local Demand
    City
    Fort Myers
    County
    Lee
    State
    Florida
    Longitude
    -81.831039
    Latitude
    26.484095

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    FAQs

    What type of property is this?
    Duplex - Updated duplex with new roof and modern interiors.
    Where is this duplex located?
    The property is located at 17383 + 17395 Cleveland Dr lot 34 Fort Myers, FL.
    What is the asking price?
    The asking price for this property is $619,000.
    What are key features of this property?
    This property features: Solid rental income source: $43,800 gross income.; New Roof (2024), Fresh Outside Painting (2024), Newer A/C's (2020 + 2023), New Water‑Equipment (2024) and new Drain‑Field (2025).; Each side features 3 bedrooms and 2 bathrooms with island kitchen counters.
    (239) 322-3433
    We can help!
    Listing Contact
    Brigitte Kratzat
    Learn More
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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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