Multi-Tenant Mixed-Use
For Sale
$3,350,000
16251 N Cleveland Ave, North Fort Myers, FL 33903
Commercial Sale, NORTH FORT MYERS, FL
Property Size20,532 SF
Lot Size2.57 Acres
Price / SF$163.16
Days on Market143
Property Features for 16251 N Cleveland Ave
General Information
Property type
Commercial Sale
Property subtype
Office
Subdivision
FN09 - North Fort Myers Area
Standard status
Active
Lot size
2.57 Acres
Taxes and HOA fees
Tax Year
2025
Tax Annual Amount
33400
Amenities
direct US-41 frontage
fully signalized intersection
double curb cut access
available building signage
on-site parking
Building Details
Year built
1988
Floors in Building
1
Listing Agency:
Premier Commercial Inc
(239) 992-1200
Listed By:
Matthew Stepan PA · License #3082516
(239) 213-7408
Added: May 19
Changed: Sep 24
Last Checked: Oct 8 at 3:06AM
MLS# 226024833
Copyright © 2026 Coconut Coast Organization of REALTORS. All rights reserved. All information provided by the listing agent/broker is deemed reliable but is not guaranteed and should be independently verified.
Investment Insights
Based on property information with market context.
This 20,532-square-foot mixed-use building contains nine tenant spaces and sits on 2.57 acres. C-1 (Neighborhood Commercial) zoning supports office, medical office, and retail uses. A roof replacement was completed in December 2025 and carries a 20-Year No Dollar Limit (NDL) Warranty.
The property fronts US-41 at a signalized intersection and has double curb-cut access, building signage, and on-site parking. Traffic counts along the corridor are approximately 27,000 vehicles per day. The surrounding area includes retail, service, and residential uses.
The property fronts US-41 at a signalized intersection and has double curb-cut access, building signage, and on-site parking. Traffic counts along the corridor are approximately 27,000 vehicles per day. The surrounding area includes retail, service, and residential uses.
Key Highlights
- 20,532‑square‑foot building with nine tenants
- 2.57‑acre site zoned C‑1 (Neighborhood Commercial)
- Approved for office, medical office, and retail uses
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$257,003
Cap Rate
7.67%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$5,140,060
$5.1M
Cap Rate 7%
$3,671,471
$3.7M
Cap Rate 9%
$2,855,589
$2.9M
Market Conditions
NOI Build-Up for 20,532 SF
Gross rent
$468.1K $22.80/SF
− Vacancy
−$39.8K −$1.94/SF
EGI
$428.3K $20.86/SF
− OpEx
−$171.3K −$8.34/SF
NOI
$257.0K $12.52/SF
Area
Lee County, FL
Vacancy
8.50%
Lease Rate
$22.80 /SF/Yr
Expense Ratio
40.00%
Simulate Cap Rate and NOI
Suggested Prices Based on Cap Rates
Cap Rate 5%
$5,140,060
Cap Rate 7%
$3,671,471
Cap Rate 9%
$2,855,589
Alternative Uses
Best Use
Office B
$5.04M
$4.41M – $5.88M
NOI $352,842 @ 7.0% cap · market cap 10.53%
Second Best
Healthcare Medical
$3.67M
$3.21M – $4.28M
NOI $257,003 @ 7.0% cap · market cap 7.67%
Theoretical Best
Office A
$6.46M
$5.65M – $7.54M
NOI $452,361 @ 7.0% cap · market cap 13.50%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
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Open Analytics
Current Use
Lease Details
27,000 VPD
Traffic count
Multi-tenant
Tenancy
Yes
Highway access
Yes
Paved road access
Location Intelligence
Trade Area within ½ mile
128
Businesses Nearby
Explore this area
Business Placement
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
Check the figures for this property
Cap Rate, Value Estimation, Potential NOI and more
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Market
Vacancy Rate% for Office in South region
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Frequently Asked Questions
What type of property is this?
Mixed-use property - Nine tenants occupy space approved for office, medical office, and retail uses.
Where is this mixed-use property located?
The property is located at 16251 N Cleveland Ave North Fort Myers, FL.
What is the asking price?
The asking price for this property is $3,350,000.
What are key features of this property?
This property features: 20,532‑square‑foot building with nine tenants; 2.57‑acre site zoned C‑1 (Neighborhood Commercial); Approved for office, medical office, and retail uses
