US 41 Leased Commercial
For Sale
Contact for pricing
Pending
4805 S Cleveland Ave, Fort Myers, FL 33907
Fully leased commercial property on US 41 with billboard income.
Property Size8,100 SF
Days on Market734
Property Features for 4805 S Cleveland Ave
General Information
Standard status
Pending
Size
8,100 SF
Class
B
Property subtype
Retail, Hospitality
Zoning
commercial
Occupancy
16%
Lease Type
NNN
Investment Type
Value Add
Net Operating Income
$40,000
Building Details
Year Built
1973
Buildings
1
Stories
1
Units
2
Tenancy
Multi
Listing Agency:
Collier Realty and Management
Listed By:
Edward Blackburn · License #SL612045
(239) 263-0349
Source:
Crexi
Added: Sep 2, 2024
Changed: Aug 27
Last Checked: Sep 3 at 4:12AM
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 Collier Realty and Management
Investment Insights
Based on property information with market context.
This commercial property is located directly on US 41/Cleveland and is fully leased, with additional income from a double-sided billboard. The Auto Inn took occupancy in January 2025. The property offers convenient access to Downtown Fort Myers and Cape Coral via Colonial Blvd. Recent improvements include a new roof installed in 2024, a freshly painted exterior, and a resealed parking lot. Situated within the City of Fort Myers, the location presents opportunities for grants to fund additional improvements or upgrades for both the landlord and tenant. The property size is 8100 square feet.
Key Highlights
- Fully leased property with additional income from a double‑sided billboard.
- Prime location directly on US 41/Cleveland, offering easy access to Downtown Fort Myers and Cape Coral.
- Recent improvements including a new roof (2024), freshly painted exterior, and resealed parking lot.
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
$106,258
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
3.22%
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%
$2,125,160
$2.1M
Cap Rate 7%
$1,517,971
$1.5M
Cap Rate 9%
$1,180,644
$1.2M
Market Conditions
NOI Build-Up for 8,100 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
$156.5K $19.32/SF
− Vacancy
−$4.7K −$0.58/SF
EGI
$151.8K $18.74/SF
− OpEx
−$45.5K −$5.62/SF
NOI
$106.3K $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%
$2,125,160
Cap Rate 7%
$1,517,971
Cap Rate 9%
$1,180,644
Alternative Uses
Best Use
Retail
$1.52M
$1.33M – $1.77M
NOI $106,258 @ 7.0% cap · market cap 3.22%
Second Best
Hotel Hospitality
$676.1K
$591.6K – $788.7K
NOI $47,324 @ 7.0% cap · market cap 1.43%
Theoretical Best
Office A
$2.55M
$2.23M – $2.97M
NOI $178,459 @ 7.0% cap · market cap 5.41%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Location Intelligence
Trade Area within ½ mile
1,470
Businesses Nearby
530k
Monthly Visits Nearby
Explore this area
Business Placement
Foot Traffic Nearby
Apparel 38%
Shops & Services 29%
Electronics 11%
Dining 11%
Best Buy
Electronics
52,227 visits/mo
0.5 miles
DICK'S Sporting Goods
Apparel
47,923 visits/mo
0.3 miles
Burlington
Apparel
45,554 visits/mo
0.3 miles
Marshalls
Apparel
42,372 visits/mo
0.4 miles
Wawa
Shops & Services
41,972 visits/mo
0.5 miles
Demographics for 33907, FL
24,980
Population
14,125
Households
1.8
Avg Household Size
43
Median Age
26%
College-Educated
89%
High-School Grad
7.3 sq mi
ZIP Area
3,422
Density / Sq Mi
$49,826
Median Household Income
$33,442
Median Earnings
$1,502
Median Rent
$236,700
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 property - Fully leased commercial property on US 41 with billboard income.
Where is this retail property located?
The property is located at 4805 S Cleveland Ave Fort Myers, FL.
What is the asking price?
The asking price for this property is $3,300,000.
What are key features of this property?
This property features: Fully leased property with additional income from a double‑sided billboard.; Prime location directly on US 41/Cleveland, offering easy access to Downtown Fort Myers and Cape Coral.; Recent improvements including a **new roof (2024), freshly painted exterior, and resealed parking lot.**
