Multi-Tenant Retail
For Sale
$5,500,000
4434-4458 Cleveland Ave, Fort Myers, FL 33901
Commercial Sale, FORT MYERS, FL
Property Size22,170 SF
Lot Size2.10 Acres
Price / SF$248.08
Days on Market219
Property Features for 4434-4458 Cleveland Ave
General Information
Property type
Commercial Sale
Property subtype
Retail
Zoning
CI
Directions
Off Cleveland Ave opposite Edison Mall.
Subdivision
FM02 - Fort Myers Area
Standard status
Active
APN
35-44-24-P3-00073.0000
Lot size
2.10 Acres
Taxes and HOA fees
Tax Year
2025
Tax Description
PARL IN SE 1/4 OF SE 1/4 DESC IN OR 1489 PG 1805 LESS OR 2992/3683
Tax Annual Amount
81097
Legal Description
PARL IN SE 1/4 OF SE 1/4 DESC IN OR 1489 PG 1805 LESS OR 2992/3683
Building Details
Year built
1974
Floors in Building
1
Listing Agency:
Realty One Group MVP
(800) 896-8790
Listed By:
Joanne Fultz
(937) 232-3070
Added: Mar 23
Changed: Oct 22
Last Checked: Oct 27 at 3:06PM
MLS# 226012610
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.
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Investment Insights
Based on property information with market context.
This 22,170-square-foot retail center was built in 1974 and renovated. It occupies 2.101 acres and contains 13 tenant spaces, all leased under NNN terms. The property is zoned CI, and its leases include annual escalations.
The center sits at the signalized intersection of Cleveland Avenue and Colonial Boulevard, across from Edison Mall in Fort Myers. It is within the 614-acre Cleveland Avenue Redevelopment Area, where the adopted 2025 plan includes streetscape and infrastructure work and offers matching grants of up to 75% for specified property improvements.
The center sits at the signalized intersection of Cleveland Avenue and Colonial Boulevard, across from Edison Mall in Fort Myers. It is within the 614-acre Cleveland Avenue Redevelopment Area, where the adopted 2025 plan includes streetscape and infrastructure work and offers matching grants of up to 75% for specified property improvements.
Key Highlights
- 22,170‑square‑foot retail center on 2.101 acres
- 13 tenants; fully occupied under NNN leases
- Annual lease escalations
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$290,832
Cap Rate
5.29%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$5,816,640
$5.8M
Cap Rate 7%
$4,154,743
$4.2M
Cap Rate 9%
$3,231,467
$3.2M
Market Conditions
NOI Build-Up for 22,170 SF
Gross rent
$428.3K $19.32/SF
− Vacancy
−$12.8K −$0.58/SF
EGI
$415.5K $18.74/SF
− OpEx
−$124.6K −$5.62/SF
NOI
$290.8K $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 Rate 5%
$5,816,640
Cap Rate 7%
$4,154,743
Cap Rate 9%
$3,231,467
Alternative Uses
Best Use
Retail
$4.15M
$3.64M – $4.85M
NOI $290,832 @ 7.0% cap · market cap 5.29%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$6.98M
$6.11M – $8.14M
NOI $488,449 @ 7.0% cap · market cap 8.88%
Zoning and permitted uses should be independently verified with authorities.
How Realmo checks its estimates
Property Analytics
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Open Analytics
Current Use
Lease Details
100%
Occupancy
Multi-tenant
Tenancy
Location Intelligence
Trade Area within ½ mile
1,801
Businesses Nearby
410k
Monthly Visits Nearby
Well-served
Demand for This Use
Explore this area
Business Placement
Foot Traffic Nearby
Apparel 53%
Shops & Services 26%
Dining 12%
Home Improvements & Furnishings 7%
Macy's
Apparel
79,921 visits/mo
0.3 miles
JCPenney
Apparel
48,496 visits/mo
0.3 miles
Burlington
Apparel
45,554 visits/mo
0.3 miles
Wawa
Shops & Services
41,972 visits/mo
0.4 miles
Dillard's
Apparel
38,597 visits/mo
0.4 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
Check the figures for this property
Cap Rate, Value Estimation, Potential NOI and more
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Market
Vacancy Rate% for Retail in South region
Similar Off Market Nearby
- Page Field Commons — Florida 33907
- Florida MV Express Kiosk — 4600 Summerlin Rd, Fort Myers, FL 33919
- Colonial Crossings — 4600 Summerlin Rd, Fort Myers, FL 33919
- South Plaza — 4650 S Cleveland Ave SUITE 9B, Fort Myers, FL 33907
- El Dorado Plaza — 4429 Cleveland Ave, Fort Myers, FL 33901
Frequently Asked Questions
What type of property is this?
Shopping center - The center has 13 occupied suites under NNN leases with annual rent escalations.
Where is this shopping center located?
The property is located at 4434-4458 Cleveland Ave Fort Myers, FL.
What is the asking price?
The asking price for this property is $5,500,000.
What are key features of this property?
This property features: 22,170‑square‑foot retail center on 2.101 acres; 13 tenants; fully occupied under NNN leases; Annual lease escalations
