Office Building with Cleveland Avenue
For Sale
$6,814,600
3210 Cleveland Ave, Fort Myers, FL 33901
Professional office building with prominent signage and direct frontage on heavily traveled Cleveland Avenue near Downtown Fort Myers.
Property Size34,073 SF
Days on Market76
Property Features for 3210 Cleveland Ave
General Information
Standard status
Active
Size
34,073 SF
Class
C
Property subtype
Office - General Office
Additional Details
Road Access
Yes
Building Details
Building Size
34,073 SF
Year Built
1966
Listing Agency:
NAI Burns Scalo
Listed By:
Gary Tasman · License #BK3002798
(239) 489-3600
Source:
Commercialcafe
Added: Jun 25
Changed: Sep 6
Last Checked: Sep 7 at 5:24AM
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 NAI Burns Scalo
Investment Insights
Based on property information with market context.
This professional office building offers immediate availability and a straightforward, investment- or leasing-oriented setup. The offering includes direct frontage with signage positioned along Cleveland Avenue for ongoing visibility.
The property is located close to Downtown Fort Myers and benefits from high-traffic exposure on Cleveland Avenue, with regional amenities nearby.
With approximately 280 feet of frontage and signage on Cleveland Avenue, the building is designed for accessible, easily recognized street presence.
The property is located close to Downtown Fort Myers and benefits from high-traffic exposure on Cleveland Avenue, with regional amenities nearby.
With approximately 280 feet of frontage and signage on Cleveland Avenue, the building is designed for accessible, easily recognized street presence.
Key Highlights
- 1966‑built professional office building
- 280’ of direct frontage on heavily traveled Cleveland Ave
- Prominent signage on Cleveland Ave
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
$585,543
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
8.59%
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%
$11,710,860
$11.7M
Cap Rate 7%
$8,364,900
$8.4M
Cap Rate 9%
$6,506,033
$6.5M
Market Conditions
NOI Build-Up for 34,073 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
$850.5K $24.96/SF
− Vacancy
−$69.7K −$2.05/SF
EGI
$780.7K $22.91/SF
− OpEx
−$195.2K −$5.73/SF
NOI
$585.5K $17.18/SF
Area
Lee County, FL
Vacancy
8.20%
Lease Rate
$24.96 /SF/Yr
Expense Ratio
25.00%
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%
$11,710,860
Cap Rate 7%
$8,364,900
Cap Rate 9%
$6,506,033
Alternative Uses
Best Use
Office B
$8.36M
$7.32M – $9.76M
NOI $585,543 @ 7.0% cap · market cap 8.59%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$10.72M
$9.38M – $12.51M
NOI $750,696 @ 7.0% cap · market cap 11.02%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
Yes
Paved road access
Location Intelligence
Trade Area within ½ mile
879
Businesses Nearby
Explore this area
Business Placement
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 Office in South region
Questions? Ask Rey
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Frequently Asked Questions
What type of property is this?
Office building - Professional office building with prominent signage and direct frontage on heavily traveled Cleveland Avenue near Downtown Fort Myers.
Where is this office building located?
The property is located at 3210 Cleveland Ave Fort Myers, FL.
What is the asking price?
The asking price for this property is $6,814,600.
What are key features of this property?
This property features: 1966‑built professional office building; 280’ of direct frontage on heavily traveled Cleveland Ave; Prominent signage on Cleveland Ave
