Built-Out Office
For Sale
Contact for pricing
10970 S Cleveland Ave Ste 406, Fort Myers, FL 33907
C-2-zoned condominium space offers private offices, open cubicles, a breakroom, restrooms, and an existing lease through May 2028.
Property Size3,117 SF
Price / SF$250
Days on Market104
Property Features for 10970 S Cleveland Ave Ste 406
General Information
Standard status
Active
Size
3,117 SF
Class
B
Property subtype
Office
Zoning
C-2
Lease Type
NNN
Investment Type
Net Lease
Site & Location
Highway Access
Yes
Road Access
Yes
Additional Details
Office Build-Out
3,117 SF
Building Details
Year Built
2006
Buildings
1
Tenancy
Single
Owner Occupied
No
Listing Agency:
CRE Consultants
Listed By:
Enn Luthringer · License #SL3089908
(239) 481-3800
Source:
Crexi
Added: Jul 7
Changed: Oct 15
Last Checked: Oct 16 at 7:27AM
Displayed information is deemed reliable but is not guaranteed and should be independently verified. All listing content including descriptions, pricing, images are the copyrighted material of CRE Consultants
Ask AI about this property
Review the available facts, identify missing information and prepare questions for the agent.
Investment Insights
Based on property information with market context.
Unit 406 is a 3,117 SF office condominium within a Class B office/flex complex completed in 2006. The interior is configured with private offices, open-air cubicles, a breakroom, and restrooms. The space is leased to Synergy Networks Inc. through May 31, 2028.
The property fronts US-41 along S. Cleveland Avenue and includes pylon signage. Reported traffic on the corridor is 62000 cars per day. Page Field Airport is nearby, while I-75 and RSW International Airport provide regional connections. The condominium carries C-2 zoning and is identified as an office unit.
The property fronts US-41 along S. Cleveland Avenue and includes pylon signage. Reported traffic on the corridor is 62000 cars per day. Page Field Airport is nearby, while I-75 and RSW International Airport provide regional connections. The condominium carries C-2 zoning and is identified as an office unit.
Key Highlights
- 3,117 SF office condominium in a Class B office/flex complex
- Leased to Synergy Networks Inc. through May 31, 2028
- Built in 2006 with private offices, open‑air cubicles, breakroom, and restrooms
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$53,566
Cap Rate
6.87%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$1,071,320
$1.1M
Cap Rate 7%
$765,229
$765.2K
Cap Rate 9%
$595,178
$595.2K
Market Conditions
NOI Build-Up for 3,117 SF
Gross rent
$77.8K $24.96/SF
− Vacancy
−$6.4K −$2.05/SF
EGI
$71.4K $22.91/SF
− OpEx
−$17.9K −$5.73/SF
NOI
$53.6K $17.18/SF
Area
Lee County, FL
Vacancy
8.20%
Lease Rate
$24.96 /SF/Yr
Expense Ratio
25.00%
Simulate Cap Rate and NOI
Suggested Prices Based on Cap Rates
Cap Rate 5%
$1,071,320
Cap Rate 7%
$765,229
Cap Rate 9%
$595,178
Alternative Uses
Best Use
Office B
$765.2K
$669.6K – $892.8K
NOI $53,566 @ 7.0% cap · market cap 6.87%
Second Best
Flex RnD
$487.1K
$426.2K – $568.3K
NOI $34,098 @ 7.0% cap · market cap 4.38%
Theoretical Best
Office A
$981.1K
$858.4K – $1.14M
NOI $68,674 @ 7.0% cap · market cap 8.81%
Zoning and permitted uses should be independently verified with authorities.
How Realmo checks its estimates
Property Analytics
Unlock full access to Insights
Subscribe to Realmo Intelligence
Open Analytics
Current Use
Lease Details
Yes
Highway access
Yes
Paved road access
Location Intelligence
Trade Area within ½ mile
1,551
Businesses Nearby
Explore this area
Business Placement
Demographics for 33907, FL
24,980
Population
14,125
Households
1.8
Avg Household Size
43
Median Age
26%
College-Educated
89%
High-School Grad
7.3 sq mi
ZIP Area
3,422
Density / Sq Mi
$49,826
Median Household Income
$33,442
Median Earnings
$1,502
Median Rent
$236,700
Median Home Value
Check the figures for this property
Cap Rate, Value Estimation, Potential NOI and more
View Realmo Analytics
Market
Vacancy Rate% for Office in South region
Frequently Asked Questions
What type of property is this?
Office units - C-2-zoned condominium space offers private offices, open cubicles, a breakroom, restrooms, and an existing lease through May 2028.
Where is this office units located?
The property is located at 10970 S Cleveland Ave Ste 406 Fort Myers, FL.
What is the asking price?
The asking price for this property is $779,250.
What are key features of this property?
This property features: 3,117 SF office condominium in a Class B office/flex complex; Leased to Synergy Networks Inc. through May 31, 2028; Built in 2006 with private offices, open‑air cubicles, breakroom, and restrooms
