Auto Shop with Oil Change
For Sale
$550,000
3018 Cleveland Ave, Fort Myers, FL 33901
Commercial Intensive zoning supports vehicle service, repair, warehousing, and several retail and office uses.
Property Size1,389 SF
Price / SF$395.97
Days on Market410
Property Features for 3018 Cleveland Ave
General Information
Standard status
Active
Size
1,389 SF
Property subtype
Commercial
Zoning
Commercial Intensive
Site & Location
Highway Access
Yes
Road Access
Yes
Additional Details
Service Bays
2
Building Details
Year Built
1955
Buildings
1
Listing Agency:
Premier Commercial Inc
(239) 992-1200
Listed By:
Matthew Stepan PA
Source:
Naplesareapropertysearch
Added: Jul 18, 2025
Changed: Aug 30
Last Checked: Aug 30 at 5:48PM
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 includes a 1,389± SF building arranged with 316± SF of office and storage space alongside a 1,073± SF garage. The garage has four overhead doors and two oil change bays, with an additional 1,175± SF of covered parking immediately adjacent. Built in 1955, the facility is configured for automotive service and repair operations.
Commercial Intensive zoning in the City of Fort Myers supports a broad range of potential uses identified in the source information, including vehicle service and repair, car wash, convenience store, restaurant, pharmacy, laundromat, warehousing, light manufacturing, and medical or professional offices. The property occupies the corner of Cleveland Ave (US-41) and Sunset Place, less than one block south of Hanson Street.
Commercial Intensive zoning in the City of Fort Myers supports a broad range of potential uses identified in the source information, including vehicle service and repair, car wash, convenience store, restaurant, pharmacy, laundromat, warehousing, light manufacturing, and medical or professional offices. The property occupies the corner of Cleveland Ave (US-41) and Sunset Place, less than one block south of Hanson Street.
Key Highlights
- 1,389± SF building with 316± SF of office and storage space
- 1,073± SF garage with 4 overhead doors
- 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
Lease Details
2
Service bays
Yes
Highway access
Yes
Paved road access
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
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Similar Off Market Nearby
- US 41 tires & auto repair — 3539 Cleveland Ave, Fort Myers, FL 33901
- Heritage Automotive Corporation — 3621 cleveland ave, fort myers, fl 33901
- Jones Service & Repair — 3476 Fowler St, Fort Myers, FL 33901
- All Tune And Lube — 3409 fowler st, fort myers, fl 33901
- Elite Auto Body And Repair — 3405 Fowler St #110, Fort Myers, FL 33901
Frequently Asked Questions
What type of property is this?
Auto shop - Commercial Intensive zoning supports vehicle service, repair, warehousing, and several retail and office uses.
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: 1,389± SF building with 316± SF of office and storage space; 1,073± SF garage with 4 overhead doors; 2 oil change bays
