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    Leased Retail Center in Fort Myers Title is generated by Realmo AI

    4434-4458 Cleveland Ave, Fort Myers, FL 33901

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    Claim this Listing
    For Sale
    $5,500,000

    COMMERCIAL - FORT MYERS, FL

    Type:Retail
    Property size:
    22,170 SF
    Lot size:
    2.10 Acres
    Price / SF:
    $248/SF
    Added:
    Mar 23, 2026
    Days on Market:
    83
    Last Refresh:
    Jun 13 at 11:06 pm

    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

    We can help!

    Listing Contact
    Joanne Fultz

    Listing agent Joanne Fultz License #3449480

    Listing office Realty One Group MVP Bonita Springs, FL

    Listing date Mar 23, 2026

    MLS# 226012610

    Copyright © 2026 Bonita Springs-Estero REALTORS. All rights reserved. All information provided by the listing agent/broker is deemed reliable but is not guaranteed and should be independently verified.

    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
    • Triple‑net structure provides passive income
    • Long‑term leases with annual escalations and below‑market rents offer strong NOI growth potential
    • High‑traffic location at signalized corner of Cleveland Ave & Colonial Blvd

    Overview

    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.

    Local 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 (±1% cap)
    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 (±1% cap)
    NOI $488,449 @ 7.0% cap · market cap 8.88%
    Zoning and permitted uses should be independently verified with local authorities.
    Property Profile Location Intelligence

    Current Use by Public Records

    Shopping centers

    Suggested Use

    Restaurant Real Estate Agency Law Firm Building Supply Dental Office Big Box & Wholesale Store Spa & Massage Center Auto Repair Shop Hair Salon Hotel & Motel

    Zoning and permitted uses should be independently verified with local authorities.

    Similar Places 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

    Location Insight

    • Map
    • Local Demand
    City
    Fort Myers
    County
    Lee
    State
    Florida
    Longitude
    -81.8724507
    Latitude
    26.5976651

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    FAQs

    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
    (800) 896-8790
    We can help!
    Listing Contact
    Joanne Fultz
    Real Estate License ID: 3449480
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