Single-Tenant Medical
16101 N Cleveland Avenue Unit 251 North Fort Myers, FL 33903
For Sale
$1,175,000
Single-tenant medical building leased on a triple-net basis through November 30, 2030 to DaVita Dialysis.
Property Size5,741 SF
Price / SF$204.67
Days on Market54
Property Features for 16101 N Cleveland Avenue Unit 251
General Information
Standard status
Active
Size
5,741 SF
Property subtype
Commercial
Building Details
Year Built
1986
Listing Agency:
Premier Commercial Inc
Listed By:
Matthew Stepan PA
(239) 984-8177
Source:
Johnrwood
Added: Jun 6
Changed: Jul 27
Last Checked: Jul 28 at 11:00PM
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 Premier Commercial Inc
Investment Insights
Based on property information with market context.
16101 N Cleveland Avenue is a single-tenant medical building totaling 15,741 square feet, currently 100% leased to DaVita Dialysis (NYSE: DVA) under a Triple Net (NNN) lease running through November 30, 2030. Under the lease, tenant responsibilities include interior maintenance, HVAC, utilities, and non-structural elements, while landlord obligations are limited to the building shell and structural components. The roof was fully replaced in January 2017.
The property is located along North Cleveland Avenue / US-41 in North Fort Myers, Florida, with traffic counts of approximately 27,000 vehicles per day and commercial frontage in a busy corridor.
As a stabilized, NNN investment with an in-place healthcare tenant, the building is designed for long-term occupancy with reduced near-term capital exposure following the roof replacement.
The property is located along North Cleveland Avenue / US-41 in North Fort Myers, Florida, with traffic counts of approximately 27,000 vehicles per day and commercial frontage in a busy corridor.
As a stabilized, NNN investment with an in-place healthcare tenant, the building is designed for long-term occupancy with reduced near-term capital exposure following the roof replacement.
Key Highlights
- ±5,741 SF single‑tenant medical building built in 1986, 100% leased to DaVita Dialysis (NYSE: DVA).
- Triple Net (NNN) lease runs through November 30, 2030 for long‑term, stabilized occupancy.
- Roof fully replaced in January 2017, reducing near‑term capital exposure.
Financial Insights For Healthcare Medical
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 | $130.9k | $22.80 |
| − Vacancy | −$11.1k | −$1.94 |
| EGI | $119.8k | $20.86 |
| − OpEx | −$47.9k | −$8.34 |
| NOI | $71.9k | $12.52 |
5,741 SF · lease $22.80/SF/yr · vacancy 8.50% · expense 40.00%
Alternative Uses
Best Use
Healthcare Medical
$1.03M
$898.3K – $1.20M
NOI $71,861 @ 7.0% cap · market cap 6.12%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$1.81M
$1.58M – $2.11M
NOI $126,486 @ 7.0% cap · market cap 10.76%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Location Intelligence
Current Use
Frequently Asked Questions
What type of property is this?
Medical center - Single-tenant medical building leased on a triple-net basis through November 30, 2030 to DaVita Dialysis.
Where is this medical center located?
The property is located at 16101 N Cleveland Avenue Unit 251 North Fort Myers, FL.
What is the asking price?
The asking price for this property is $1,175,000.
What are key features of this property?
This property features: ±5,741 SF single‑tenant medical building built in 1986, 100% leased to DaVita Dialysis (NYSE: DVA).; Triple Net (NNN) lease runs through November 30, 2030 for long‑term, stabilized occupancy.; Roof fully replaced in January 2017, reducing near‑term capital exposure.
