Sign Up Successful!
You now have access to more from Realmo!
    For Sale
    • For Sale
    • For Lease
    • Recently Sold
    • Property Lookup
    • Brokers
    AI Search
    The Largest CRE Database in the US with Over 1 Million Listings

    4434-4458 Cleveland Ave Fort Myers, FL 33901

    Loading data...
    Loading data...
    Loading data...
    For Sale
    $5,700,000

    Fully renovated shopping center with strong upside potential in Fort Myers.

    Lot size:
    2.10 Acres

    Property Features for 4434-4458 Cleveland Ave

    General Information

    Lot size
    2.10 Acres

    Building Details

    Year built
    1973

    We can help!

    Listing Contact
    Danilo Aquino
    Source: Elliman

    Listing Agent: Danilo Aquino

    Displayed information is deemed reliable but is not guaranteed and should be independently verified.

    Learn more

    Overview

    Renovated Shopping Center For Sale

    This fully renovated neighborhood shopping center is located on a prime corner in Fort Myers, across from Edison Mall. The property consists of 3 standalone multi-tenant buildings, totaling 22,038 rentable square feet, situated on a 2.1-acre lot. The center is currently 100% occupied by 13 tenants under NNN leases, generating a net operating income of approximately $477,038. Recent capital improvements totaling $1.1 million include a new roof, HVAC systems, parking lot, landscaping, and lighting. The property's below-market lease rates offer strong upside potential in one of Fort Myers' most active commercial corridors.
    Location Intelligence

    Current Use by Public Records

    Strip malls

    Suggested Use

    Restaurant Realty agency Law Firm Building Supply Dental Office Wholesale Shop Spa & Massage Auto Repair Shop Hair Salon Hotel & Motel

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

    Similar Places Nearby

    South Plaza, Florida MV Express Kiosk, El Dorado Plaza, Page Field Commons, Colonial Crossings

    Location Insight

    • Map
    • Local Demand
    City
    Fort Myers
    County
    Lee
    State
    Florida
    Longitude
    -81.8724507
    Latitude
    26.5976651

    Nearby Similar for Sale

    • $5,250,000
      1.69 Acres

      Fort Myers Medical/Office Building

      Medical/office building in Fort Myers, great for owner or investor.
      12731 New Brittany Blvd, Fort Myers, FL 33907
      View Details
    • $3,999,997
      Pending

      Southern Fresh Farms: Agricultural Haven

      4.76 acre agricultural property with multiple revenue streams.
      8500 Penzance Blvd, Fort Myers, FL 33912
      View Details
    • New
      $325,000
      Pending

      Renovated Fort Myers Shores Duplex

      Well-maintained duplex with income potential in Fort Myers Shores.
      12955 1St St, Fort Myers, FL 33905
      View Details
    • $197,500
      0.08 Acres

      RV Lot with Tiki and Privacy

      Beautiful RV lot with Tiki, outdoor bar, and privacy.
      10323 Fire Flag Trl, Fort Myers, FL 33905
      View Details
    • $210,000
      0.07 Acres

      RV Resort Lot with Upgrades

      Upgraded RV resort lot with shed, bathroom, and outdoor kitchen.
      10331 Fire Flag Trl, Fort Myers, FL 33905
      View Details
    • $159,900
      0.07 Acres

      RV Resort Lot in Fort Myers

      Private, landscaped RV lot with gazebo and shed in resort.
      5114 Cypress Trl Resort Cir, Fort Myers, FL 33905
      View Details
    • $2,950,000
      7,231 SF

      Medical/General Office Space For Sale

      7,231 sq ft medical/general office space in Fort Myers.
      3822 Broadway, Fort Myers, FL 33901
      View Details
    • $175,000
      0.08 Acres

      Private RV Lot in Fort Myers

      Pie-shaped RV lot with lush landscaping and resort amenities.
      5459 Cypress Trl Resort Cir, Fort Myers, FL 33905
      View Details
    • New
      $800,000
      0.30 Acres

      Updated Triplex: Income-Producing Potential

      Remodeled triplex with modern updates and income-producing potential in Fort Myers.
      1531/1533 Hough St, Fort Myers, FL 33901
      View Details
    • $310,000
      0.09 Acres

      Sunset Lake RV Lot

      Paved RV lot with tiki, outdoor kitchen, and shed.
      5301 Cypress Trl Resort Cir, Fort Myers, FL 33905
      View Details
    • $265,000
      Pending

      Income-Producing Duplex in Fort Myers

      Duplex with two units, each featuring 2 bedrooms and 1 bathroom.
      1652 Cypress Dr, Fort Myers, FL 33907
      View Details
    • $195,000
      0.07 Acres

      RV Lot in Resort Community

      Private RV lot with amenities near I-75 in Fort Myers.
      5202 Marsh Mallow Trl, Fort Myers, FL 33905
      View Details

    FAQs

    What type of property is this?
    Shopping center - Fully renovated shopping center with strong upside potential in Fort Myers.
    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 $5,700,000.
    What are key features of this property?
    This property features: - Prime corner location in Fort Myers across from Edison Mall; - Fully renovated with $1.1M in recent capital improvements including new roof, HVAC, and parking lot; - 100% occupied by 13 tenants on NNN leases
    (786) 201-3020
    Request Owner's contact information
    4434-4458 Cleveland Ave Fort Myers, FL 33901
    Message sent successfully
    Error
    If you are the owner or broker of this property and would like to edit or remove this listing please send a message to web site administrator.
    4434-4458 Cleveland Ave
    Fort Myers, FL 33901
    Message sent successfully
    Error
    Email to Your Friends
    Link copied to clipboard
    Separate multiple addresses with a comma
    Message sent successfully
    Error

    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
    4434-4458 Cleveland Ave Fort Myers, FL 33901
    Thanks! Your message was sent.
    Error! Your message wasn't sent.
    Please enter your name
    Please enter email
    Please enter the email in the correct format
    Please enter phone
    Please enter the number in the correct format
    Please enter message
    Thank You

    You are Unsubscribed From Notifications

    We can help!
    Listing Contact
    Danilo Aquino
    (786) 201-3020
    Learn more
    Google sign-in failed. Please try again or use another login method.
    Create New Password
    • At least 8 characters
    • Contains both letters and numbers
    • Contains uppercase and lowercase letters
    • At most 32 characters
    • Password required
    • Password reset link has expired. Please request a new one.