Leased Retail Center in Fort
4434-4458 Cleveland Ave Fort Myers, FL 33901
For Sale
$5,500,000
COMMERCIAL - FORT MYERS, FL
Property Size22,170 SF
Lot Size2.10 Acres
Price / SF$248.08
Days on Market129
Property Features for 4434-4458 Cleveland Ave
General Information
Property type
Commercial Sale
Property subtype
Retail
Zoning
CI
Standard status
Active
APN
35-44-24-P3-00073.0000
Size
22,170 SF
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
Building Details
Year built
1974
Floors in Building
1
Listing Agency:
Realty One Group MVP
(800) 896-8790
Listed By:
Joanne Fultz · License #3449480
(800) 896-8790
Added: Mar 23
Changed: Jul 2
Last Checked: Jul 29 at 12:06AM
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.
Investment Insights
Based on property information with market context.
This multi-tenant shopping center in Fort Myers, Florida, is 100% leased and offers immediate cash flow. The renovated, turn-key property has 22,170 square feet of space on a 2.101-acre lot with CI zoning. It is located at the signalized corner of Cleveland Avenue and Colonial Boulevard, directly across from Edison Mall. The center is fully occupied by 13 NNN tenants, including restaurants, salons, retail stores, and service providers. The leases are long-term with annual escalations, and the rents are below market, offering strong NOI growth potential. The property is surrounded by national retailers such as Wawa, Starbucks, Hooters, and Best Buy in a high-traffic Southwest Florida corridor. The triple-net structure means tenants handle taxes, insurance, and maintenance. The property is located in the Cleveland Avenue Redevelopment Area, where the Community Redevelopment Agency (CRA) is investing millions in streetscape improvements, placemaking, and infrastructure upgrades. The CRA offers property owners incentives including up to 75% matching grants for facades, parking lots, lighting, landscaping, and signage, plus TIF funding, stormwater credits, and tax benefits. This investment enhances visibility, tenant demand, and long-term property values.
Key Highlights
- 100% Leased NNN Retail Center with immediate cash flow and built‑in upside
- Enjoy a ~9.7% Cap Rate and Stabilized NOI
- Located in Fort Myers' Cleveland Avenue Redevelopment Area
Financial Insights For Retail
Simulate Cap Rate and NOI
NOI Build-Up
- 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.
| Component | $ | $/SF |
|---|---|---|
| Gross rent | $428.3k | $19.32 |
| − Vacancy | −$12.8k | −$0.58 |
| EGI | $415.5k | $18.74 |
| − OpEx | −$124.6k | −$5.62 |
| NOI | $290.8k | $13.12 |
22,170 SF · lease $19.32/SF/yr · vacancy 3.00% · expense 30.00%
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.
Property Analytics
Property Profile
Location Intelligence
Current Use
Similar Off Market Nearby
- South Plaza — 4650 S Cleveland Ave SUITE 9B, Fort Myers, FL 33907
- Florida MV Express Kiosk — 4600 Summerlin Rd, Fort Myers, FL 33919
- El Dorado Plaza — 4429 Cleveland Ave, Fort Myers, FL 33901
- Page Field Commons — Florida 33907
- Colonial Crossings — 4600 Summerlin Rd, Fort Myers, FL 33919
Frequently Asked Questions
What type of property is this?
Shopping center - 100% leased retail center with redevelopment upside.
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: 100% Leased NNN Retail Center with immediate cash flow and built‑in upside; Enjoy a ~9.7% Cap Rate and Stabilized NOI; Located in Fort Myers' Cleveland Avenue Redevelopment Area
