Retail
For Sale
$1,250,000
4290 Cleveland Avenue, Fort Myers, FL 33901
Commercial premises identified for retail occupancy.
Property Size5,029 SF
Price / SF$248.56
Days on Market61
Property Features for 4290 Cleveland Avenue
General Information
Standard status
Active
Size
5,029 SF
Property subtype
Retail
Listing Agency:
LQ Commercial Real Estate Services
(239) 281-1001
Listed By:
Steve Wood, CCIM · License #SL3024137
(239) 281-1001
Source:
Cbre
Added: Jul 3
Changed: Aug 31
Last Checked: Sep 1 at 3:54PM
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 LQ Commercial Real Estate Services
Investment Insights
Based on property information with market context.
This commercial property provides 5,029 square feet of retail space. The offering is located at 4290 Cleveland Avenue in Fort Myers, Florida 33901.
Key Highlights
- 5,029 square feet of retail space
- Located at 4290 Cleveland Avenue, Fort Myers, FL 33901
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
$65,972
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
5.28%
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%
$1,319,440
$1.3M
Cap Rate 7%
$942,457
$942.5K
Cap Rate 9%
$733,022
$733.0K
Market Conditions
NOI Build-Up for 5,029 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
$97.2K $19.32/SF
− Vacancy
−$2.9K −$0.58/SF
EGI
$94.2K $18.74/SF
− OpEx
−$28.3K −$5.62/SF
NOI
$66.0K $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%
$1,319,440
Cap Rate 7%
$942,457
Cap Rate 9%
$733,022
Alternative Uses
Best Use
Retail
$942.5K
$824.7K – $1.10M
NOI $65,972 @ 7.0% cap · market cap 5.28%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$1.58M
$1.38M – $1.85M
NOI $110,799 @ 7.0% cap · market cap 8.86%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Location Intelligence
Trade Area within ½ mile
1,920
Businesses Nearby
443k
Monthly Visits Nearby
Explore this area
Business Placement
Foot Traffic Nearby
Apparel 49%
Shops & Services 25%
Dining 14%
Home Improvements & Furnishings 7%
Macy's
Apparel
79,921 visits/mo
0.2 miles
JCPenney
Apparel
48,496 visits/mo
0.1 miles
Burlington
Apparel
45,554 visits/mo
0.4 miles
Wawa
Shops & Services
41,972 visits/mo
0.4 miles
Dillard's
Apparel
38,597 visits/mo
0.3 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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Frequently Asked Questions
What type of property is this?
Retail space - Commercial premises identified for retail occupancy.
Where is this retail space located?
The property is located at 4290 Cleveland Avenue Fort Myers, FL.
What is the asking price?
The asking price for this property is $1,250,000.
What are key features of this property?
This property features: 5,029 square feet of retail space; Located at 4290 Cleveland Avenue, Fort Myers, FL 33901
