Vacant Commercial Building on
For Sale
Contact for pricing
11286 S Cleveland Ave, Fort Myers, FL 33907
4,212 Sq. Ft. commercial building with high visibility.
Property Size4,212 SF
Price / SF$352.56
Days on Market196
Property Features for 11286 S Cleveland Ave
General Information
Standard status
Active
Size
4,212 SF
Property subtype
Retail
Zoning
C-1
Building Details
Year Built
1974
Buildings
1
Listing Agency:
LSI Companies
(239) 940-3171
Listed By:
Mike Trivett · License #FL SL3518487
Source:
Crexi
Added: Feb 9
Changed: Aug 12
Last Checked: Aug 23 at 5:53AM
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 LSI Companies
Investment Insights
Based on property information with market context.
The property features a 4,212± Sq. Ft. vacant commercial building with 125’ of frontage on S. Cleveland Avenue (US-41). Situated just south of Page Field Airport within a highly active commercial district, the building is currently in shell condition and ready for flexible build-out options. It has the ability to be utilized as a single tenant or demised into multiple units, with doors already in place. The property access from S. Cleveland Avenue (US-41) has a dedicated turn-lane, with 2 right-in right-out points from the property. The property features monument signage and high visibility from S. Cleveland Ave. (US-41), with an AADT of 53,000±. It has the potential for single-tenant or 4 units and includes 10 parking spaces. Commercial zoning allows for a wide variety of uses.
Key Highlights
- High visibility location on S. Cleveland Ave (US‑41) with 53,000± AADT
- Flexible build‑out options for single‑tenant or multiple units
- Dedicated turning lane from S. Cleveland Ave (US‑41)
Financial Insights
Estimated NOI and Cap Rate
NOI = area × lease_rate × (100 − vacancy) / 100 × (1 − expense_ratio). Net Operating Income — what the owner takes home each year before mortgage payments and income tax. Effective rent (asking rent minus vacancy losses) minus operating costs (taxes, insurance, maintenance, management).
NOI / Yr
$55,254
Cap rate = NOI / list price × 100. Capitalization rate — annual return on a fully cash purchase, before financing. NOI divided by price. Higher means more income per dollar invested, but usually also more risk or older condition. 5–8% is typical for stabilized commercial property; double digits often signal distressed deals.
Cap Rate
3.72%
Suggested Prices Based on Cap Rates
Cap rates vary significantly by property type, market, and asset quality.
Typical U.S. stable-market ranges:
Multifamily — 4.5% to 6.5% (Class A in primary markets often sub-5%; Class C in secondary markets 6%+)
Industrial / Logistics — 5.0% to 7.0% (compressed heavily in recent years due to e-commerce demand)
Office — 6.5% to 9%+ (wide spread post-2020; CBD Class A vs. suburban Class B varies dramatically)
Retail — 5.5% to 8.5% (grocery-anchored on the low end, unanchored strip centers higher)
Hospitality / Hotels — 7.5% to 10%+ (higher due to operational risk)
Self-Storage — 5.5% to 7.5%
Medical Office — 6.0% to 7.5%
Net Lease (single tenant, credit) — 5.0% to 7.0% depending on tenant credit and lease term
Rules of thumb:
Primary markets (NYC, SF, LA, Boston, DC) trade at lower cap rates than secondary/tertiary markets, often by 100–200 bps (bps, aka basis points; 1 bp = 0.01%).
Class A assets trade ~50–150 bps tighter than Class B, and Class B tighter than Class C.
Cap rates move inversely with price — a lower cap rate means a higher price for the same NOI.
Spread to the 10-year Treasury is a common benchmark; historically 200–400 bps over the 10-year.
Cap Rate 5%
$1,105,080
$1.1M
Cap Rate 7%
$789,343
$789.3K
Cap Rate 9%
$613,933
$613.9K
Market Conditions
NOI Build-Up for 4,212 SF
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.
Gross rent
$81.4K $19.32/SF
− Vacancy
−$2.4K −$0.58/SF
EGI
$78.9K $18.74/SF
− OpEx
−$23.7K −$5.62/SF
NOI
$55.3K $13.12/SF
Area
Lee County, FL
Vacancy
3.00%
Lease Rate
$19.32 /SF/Yr
Expense Ratio
30.00%
Simulate Cap Rate and NOI
Suggested Prices Based on Cap Rates
Cap rates vary significantly by property type, market, and asset quality.
Typical U.S. stable-market ranges:
Multifamily — 4.5% to 6.5% (Class A in primary markets often sub-5%; Class C in secondary markets 6%+)
Industrial / Logistics — 5.0% to 7.0% (compressed heavily in recent years due to e-commerce demand)
Office — 6.5% to 9%+ (wide spread post-2020; CBD Class A vs. suburban Class B varies dramatically)
Retail — 5.5% to 8.5% (grocery-anchored on the low end, unanchored strip centers higher)
Hospitality / Hotels — 7.5% to 10%+ (higher due to operational risk)
Self-Storage — 5.5% to 7.5%
Medical Office — 6.0% to 7.5%
Net Lease (single tenant, credit) — 5.0% to 7.0% depending on tenant credit and lease term
Rules of thumb:
Primary markets (NYC, SF, LA, Boston, DC) trade at lower cap rates than secondary/tertiary markets, often by 100–200 bps (bps, aka basis points; 1 bp = 0.01%).
Class A assets trade ~50–150 bps tighter than Class B, and Class B tighter than Class C.
Cap rates move inversely with price — a lower cap rate means a higher price for the same NOI.
Spread to the 10-year Treasury is a common benchmark; historically 200–400 bps over the 10-year.
Cap Rate 5%
$1,105,080
Cap Rate 7%
$789,343
Cap Rate 9%
$613,933
Alternative Uses
Best Use
Retail
$789.3K
$690.7K – $920.9K
NOI $55,254 @ 7.0% cap · market cap 3.72%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$1.33M
$1.16M – $1.55M
NOI $92,799 @ 7.0% cap · market cap 6.25%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Location Intelligence
Trade Area within ½ mile
1,483
Businesses Nearby
152k
Monthly Visits Nearby
Explore this area
Business Placement
Foot Traffic Nearby
Dining 36%
Shops & Services 28%
Groceries 14%
Apparel 11%
Aldi
Groceries
21,667 visits/mo
0.0 miles
Zaxby's Chicken Fingers & Buffalo Wings
Dining
13,215 visits/mo
0.4 miles
Circle K
Shops & Services
13,129 visits/mo
0.1 miles
Starbucks
Dining
12,217 visits/mo
0.4 miles
Wings & Rings
Dining
10,786 visits/mo
0.4 miles
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
Market
Vacancy Rate% for Retail in South region
Questions? Ask Rey
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Frequently Asked Questions
What type of property is this?
Retail space - 4,212 Sq. Ft. commercial building with high visibility.
Where is this retail space located?
The property is located at 11286 S Cleveland Ave Fort Myers, FL.
What is the asking price?
The asking price for this property is $1,485,000.
What are key features of this property?
This property features: High visibility location on S. Cleveland Ave (US‑41) with 53,000± AADT; Flexible build‑out options for single‑tenant or multiple units; Dedicated turning lane from S. Cleveland Ave (US‑41)
