Fort Myers Commercial Building For
For Sale
$550,000
3018 Cleveland Ave, Fort Myers, FL 33901
Commercial building with garage, office, and covered parking available.
Property Size1,389 SF
Price / SF$395.97
Days on Market308
Property Features for 3018 Cleveland Ave
General Information
Standard status
Active
Size
1,389 SF
Property subtype
Commercial
Zoning
C1
Taxes and HOA fees
Annual Taxes
$6,177
Building Details
Year Built
1955
Stories
1
Listing Agency:
Premier Commercial Inc
(239) 992-1200
Listed By:
Matthew Stepan PA · License #3082516
Source:
Bartleyrealty
Added: Oct 21, 2025
Changed: Aug 23
Last Checked: Aug 23 at 6:05AM
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.
The property features a 1,389± square foot building, which includes approximately 316± square feet of office and storage space, along with a 1,073± square foot garage. The garage area is equipped with 4 overhead doors and 2 oil change bays. Additionally, there is an adjacent 1,175± square feet of covered parking. Zoned Commercial Intensive by the City of Fort Myers, the property permits a variety of uses, including banks, car washes, convenience stores, laundromats, light manufacturing, medical and professional offices, pharmacies, restaurants, vehicle service and repair, vehicle sales, warehousing, and pawnshops. The property is located on the corner of Cleveland Avenue (US-41) and Sunset Place, less than one block south of Hanson Street.
Key Highlights
- High‑Traffic Location: Corner lot on Cleveland Ave (US‑41), near Hanson Street.
- Commercial Intensive Zoning: Wide range of permitted uses including vehicle service/repair, retail, and offices.
- Functional Garage Space: 1,073± SF garage with 4 overhead doors and 2 oil change bays.
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
$18,221
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
3.31%
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%
$364,420
$364.4K
Cap Rate 7%
$260,300
$260.3K
Cap Rate 9%
$202,456
$202.5K
Market Conditions
NOI Build-Up for 1,389 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
$26.8K $19.32/SF
− Vacancy
−$805 −$0.58/SF
EGI
$26.0K $18.74/SF
− OpEx
−$7.8K −$5.62/SF
NOI
$18.2K $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%
$364,420
Cap Rate 7%
$260,300
Cap Rate 9%
$202,456
Alternative Uses
Best Use
Retail
$260.3K
$227.8K – $303.7K
NOI $18,221 @ 7.0% cap · market cap 3.31%
Second Best
Industrial
$181.1K
$158.5K – $211.3K
NOI $12,680 @ 7.0% cap · market cap 2.31%
Theoretical Best
Office A
$437.2K
$382.5K – $510.0K
NOI $30,602 @ 7.0% cap · market cap 5.56%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Location Intelligence
Trade Area within ½ mile
1,559
Businesses Nearby
82k
Monthly Visits Nearby
Well-served
Demand for This Use
Explore this area
Business Placement
Foot Traffic Nearby
Shops & Services 67%
Dining 20%
Groceries 9%
Apparel 3%
dd's DISCOUNTS
Shops & Services
18,577 visits/mo
0.2 miles
Save-A-Lot
Groceries
7,224 visits/mo
0.2 miles
Taco Bell
Dining
6,544 visits/mo
0.4 miles
Mobil
Shops & Services
6,056 visits/mo
0.2 miles
7-Eleven
Shops & Services
6,033 visits/mo
0.2 miles
Demographics for 33901, FL
22,629
Population
11,709
Households
1.9
Avg Household Size
43
Median Age
29%
College-Educated
83%
High-School Grad
6.2 sq mi
ZIP Area
3,650
Density / Sq Mi
$51,579
Median Household Income
$37,233
Median Earnings
$1,291
Median Rent
$280,400
Median Home Value
Market
Vacancy Rate% for Retail in South region
Questions? Ask Rey
Realmo’s AI knows this listing — price, zoning, demand, history. Ask anything.
Similar Off Market Nearby
- US 41 tires & auto repair — 3539 Cleveland Ave, Fort Myers, FL 33901
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- Elite Auto Body And Repair — 3405 Fowler St #110, Fort Myers, FL 33901
- Jones Service & Repair — 3476 Fowler St, Fort Myers, FL 33901
Frequently Asked Questions
What type of property is this?
Auto shop - Commercial building with garage, office, and covered parking available.
Where is this auto shop located?
The property is located at 3018 Cleveland Ave Fort Myers, FL.
What is the asking price?
The asking price for this property is $550,000.
What are key features of this property?
This property features: High‑Traffic Location: Corner lot on Cleveland Ave (US‑41), near Hanson Street.; Commercial Intensive Zoning: Wide range of permitted uses including vehicle service/repair, retail, and offices.; Functional Garage Space: 1,073± SF garage with 4 overhead doors and 2 oil change bays.
