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    Leased Retail Center in Fort Myers

    4434-4458 Cleveland Ave Fort Myers, FL 33901

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    For Sale
    $5,500,000

    COMMERCIAL - FORT MYERS, FL

    Type:Retail
    Property size:
    22,170 SF
    Lot size:
    2.10 Acres
    Price / SF:
    $248/SF
    Added:
    Mar 23, 2026
    Days on Market:
    111
    Last Refresh:
    Jul 11 at 9:06 pm

    Property Features for 4434-4458 Cleveland Ave

    General Information

    Property type
    Commercial Sale
    Property subtype
    Retail
    Zoning
    CI
    Standard status
    Active
    APN
    35-44-24-P3-00073.0000
    Size
    22,170 SF
    Lot size
    2.10 Acres

    Taxes and HOA fees

    Tax Year
    2025
    Tax Description
    PARL IN SE 1/4 OF SE 1/4 DESC IN OR 1489 PG 1805 LESS OR 2992/3683
    Tax Annual Amount
    81097

    Building Details

    Year built
    1974
    Floors in Building
    1

    Listing agent Joanne Fultz License #3449480

    Listing office Realty One Group MVP Bonita Springs, FL

    Listing date Mar 23, 2026

    MLS# 226012610

    Copyright © 2026 Coconut Coast Organization of REALTORS. All rights reserved. All information provided by the listing agent/broker is deemed reliable but is not guaranteed and should be independently verified.

    Investment Insights

    Based on property information with market context.

    This multi-tenant shopping center in Fort Myers, Florida, is 100% leased and offers immediate cash flow. The renovated, turn-key property has 22,170 square feet of space on a 2.101-acre lot with CI zoning. It is located at the signalized corner of Cleveland Avenue and Colonial Boulevard, directly across from Edison Mall. The center is fully occupied by 13 NNN tenants, including restaurants, salons, retail stores, and service providers. The leases are long-term with annual escalations, and the rents are below market, offering strong NOI growth potential. The property is surrounded by national retailers such as Wawa, Starbucks, Hooters, and Best Buy in a high-traffic Southwest Florida corridor. The triple-net structure means tenants handle taxes, insurance, and maintenance. The property is located in the Cleveland Avenue Redevelopment Area, where the Community Redevelopment Agency (CRA) is investing millions in streetscape improvements, placemaking, and infrastructure upgrades. The CRA offers property owners incentives including up to 75% matching grants for facades, parking lots, lighting, landscaping, and signage, plus TIF funding, stormwater credits, and tax benefits. This investment enhances visibility, tenant demand, and long-term property values.

    Key Highlights

    • 100% Leased NNN Retail Center with immediate cash flow and built‑in upside
    • Enjoy a ~9.7% Cap Rate and Stabilized NOI
    • Located in Fort Myers' Cleveland Avenue Redevelopment Area

    Local Financial Insights For Retail

    Simulate Cap Rate and NOI

    NOI Build-Up
    Vacancy
    income lost from leasable area expected to sit empty during the year — subtracted from gross rent.
    EGI (Effective Gross Income)
    gross rent minus vacancy losses — the realistic income before paying operating costs.
    OpEx (Operating Expenses)
    recurring costs to operate the property (property tax, insurance, utilities, maintenance, management) — excludes financing and capital improvements.
    NOI (Net Operating Income)
    income a property generates after operating costs but before financing and taxes.

    Component $ $/SF
    Gross rent $428.3k $19.32
    − Vacancy −$12.8k −$0.58
    EGI $415.5k $18.74
    − OpEx −$124.6k −$5.62
    NOI $290.8k $13.12
    22,170 SF · lease $19.32/SF/yr · vacancy 3.00% · expense 30.00%

    Alternative Uses

    Best Use
    Retail
    $4.15M
    $3.64M – $4.85M (±1% cap)
    NOI $290,832 @ 7.0% cap · market cap 5.29%
    Second Best
    —
    —
    no second resolved use
    Theoretical Best
    Office A
    $6.98M
    $6.11M – $8.14M (±1% cap)
    NOI $488,449 @ 7.0% cap · market cap 8.88%
    Zoning and permitted uses should be independently verified with local authorities.

    Property Analytics

    Property Profile Location Intelligence

    Current Use by Public Records

    Shopping centers

    Suggested Use

    Electrical Service Big Box & Wholesale Store Parking Lot & Garage (Bike/Boat/Book/etc) Store Garden Center Florist Butcher Food Market Bed & Breakfast (Bike/Boat/Book/etc) Store

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

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    FAQs

    What type of property is this?
    Shopping center - 100% leased retail center with redevelopment upside.
    Where is this shopping center located?
    The property is located at 4434-4458 Cleveland Ave Fort Myers, FL.
    What is the asking price?
    The asking price for this property is $5,500,000.
    What are key features of this property?
    This property features: 100% Leased NNN Retail Center with immediate cash flow and built‑in upside; Enjoy a ~9.7% Cap Rate and Stabilized NOI; Located in Fort Myers' Cleveland Avenue Redevelopment Area
    Contact an agent
    (800) 896-8790
    We can help!
    Contact an agent
    Joanne Fultz
    Real Estate License ID: 3449480
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