Commercial Mixed-Use
For Sale
$7,000,000
13160 13170 13180 & 13192 N Cleveland Avenue, North Fort Myers, FL 33903
Four parcels combine existing retail and commercial improvements under CG, C-1A, and C-2 zoning.
Property Size35,932 SF
Price / SF$194.80
Days on Market94
Property Features for 13160 13170 13180 & 13192 N Cleveland Avenue
General Information
Standard status
Active
Size
35,932 SF
Class
B
Property subtype
Office
Zoning
CG, C-1A, C-2
Additional Details
Land Use
commercial, retail, mixed-use
Building Details
Building Size
35,932 SF
Year Built
1986
Listed By:
Mark Morris · License #3235278
(239) 671-2266
Source:
Svn
Added: Jun 2
Changed: Sep 2
Last Checked: Sep 2 at 4:55PM
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 Mark Morris
Investment Insights
Based on property information with market context.
This North Fort Myers assemblage consists of four parcels with existing commercial and retail improvements. The property carries three zoning designations—CG, C-1A, and C-2—and currently supports rental revenue from the existing improvements.
Positioned on North Cleveland Avenue just north of the Caloosahatchee Bridge, the assemblage offers an existing commercial configuration with redevelopment potential. The stated future-use concept includes residential mixed-use development combining retail and commercial space with luxury condominiums, subject to applicable approvals and requirements.
Positioned on North Cleveland Avenue just north of the Caloosahatchee Bridge, the assemblage offers an existing commercial configuration with redevelopment potential. The stated future-use concept includes residential mixed-use development combining retail and commercial space with luxury condominiums, subject to applicable approvals and requirements.
Key Highlights
- Four‑parcel assemblage on North Cleveland Avenue in North Fort Myers, FL
- Existing commercial and retail improvements generate rental revenue
- Zoned CG, C‑1A, and C‑2
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
$471,405
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
6.73%
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%
$9,428,100
$9.4M
Cap Rate 7%
$6,734,357
$6.7M
Cap Rate 9%
$5,237,833
$5.2M
Market Conditions
NOI Build-Up for 35,935 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
$694.3K $19.32/SF
− Vacancy
−$20.8K −$0.58/SF
EGI
$673.4K $18.74/SF
− OpEx
−$202.0K −$5.62/SF
NOI
$471.4K $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%
$9,428,100
Cap Rate 7%
$6,734,357
Cap Rate 9%
$5,237,833
Alternative Uses
Best Use
Retail
$6.73M
$5.89M – $7.86M
NOI $471,405 @ 7.0% cap · market cap 6.73%
Second Best
Mixed Use
$6.33M
$5.54M – $7.39M
NOI $443,348 @ 7.0% cap · market cap 6.33%
Theoretical Best
Office A
$11.31M
$9.90M – $13.20M
NOI $791,720 @ 7.0% cap · market cap 11.31%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Location Intelligence
Trade Area within ½ mile
711
Businesses Nearby
130k
Monthly Visits Nearby
Explore this area
Business Placement
Foot Traffic Nearby
Dining 55%
Shops & Services 29%
Home Improvements & Furnishings 12%
Hotels & Casinos 4%
RaceTrac
Shops & Services
22,724 visits/mo
0.3 miles
McDonald's
Dining
21,658 visits/mo
0.4 miles
Harbor Freight Tools
Home Improvements & Furnishings
15,703 visits/mo
0.5 miles
Wendy's
Dining
12,033 visits/mo
0.5 miles
Perkins Restaurant & Bakery
Dining
8,349 visits/mo
0.4 miles
Demographics for 33903, FL
23,294
Population
15,400
Households
1.5
Avg Household Size
61
Median Age
24%
College-Educated
89%
High-School Grad
11.3 sq mi
ZIP Area
2,061
Density / Sq Mi
$56,317
Median Household Income
$32,452
Median Earnings
$1,152
Median Rent
$135,400
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?
Mixed-use property - Four parcels combine existing retail and commercial improvements under CG, C-1A, and C-2 zoning.
Where is this mixed-use property located?
The property is located at 13160 13170 13180 & 13192 N Cleveland Avenue North Fort Myers, FL.
What is the asking price?
The asking price for this property is $7,000,000.
What are key features of this property?
This property features: Four‑parcel assemblage on North Cleveland Avenue in North Fort Myers, FL; Existing commercial and retail improvements generate rental revenue; Zoned CG, C‑1A, and C‑2
