4805 Cleveland Ave Fort Myers, FL 33907
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High-Visibility Retail Space, Value-Add Opportunity
Property size:
8,100 SFProperty Features for 4805 Cleveland Ave
General Information
- Property type
- Day care centers
- Square Feet
- 8,100 SF
- Class
- B
Building Details
- Year Built/Renovated
- 1973/4
- Buildings
- 1
- Stories
- 1
- Units
- 2
Listing Agency: Collier Realty and Management Listing Agent: Edward Blackburn
Displayed information is deemed reliable but is not guaranteed and should be independently verified.
Overview
This 8,100 square foot retail property, located at 4805 S Cleveland Ave in Fort Myers, Florida (33907), presents a compelling value-add investment opportunity. The Class B building, constructed in 1973 and renovated in 2017, sits on a 26,057 square foot lot with permitted commercial zoning. Currently featuring a single tenant with a 15-year lease (commencing February 29, 2012, expiring February 27, 2027), the property offers significant redevelopment potential. The current NOI is $40,000, with a pro-forma NOI of $170,800. The asking price is $3,300,000, representing a 5.18% cap rate and a price per square foot of $407.41. The property boasts a prime location on US 41, directly across from Rooms To Go, with two entrances and a median cut-through, ensuring high visibility and excellent access to major transportation routes. The kitchen was updated in 2020. The property's flexible zoning allows for diverse development options, catering to a strong demographic and growing market demand. The lease is a triple net (NNN) lease with three rent bumps remaining. This is a multi-tenant property with one current tenant and 16% occupancy as of September 4, 2024. The property includes one building, one story, and two units. There is one lease option available. This is a compelling opportunity for investors seeking significant upside potential in a thriving Southwest Florida market.
Property Profile
Insight Report
Location Intelligence
Current Use by Public Records
Kabab Spot
Grocery & Convenience Store
The big easy arcade
Hotel & Motel
Location Insight
- Map
- Local Demand
- City
- Fort Myers
- County
- Lee
- State
- Florida
- Longitude
- -81.8713984
- Latitude
- 26.5908891
Nearby Similar for Sale
FAQs
What type of property is this?
Day care center - High-Visibility Retail Space, Value-Add Opportunity
Where is this day care center located?
The property is located at 4805 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: $3,300,000 asking price for this 8,100 square foot retail property.; Located at 4805 S Cleveland Ave, Fort Myers, FL 33907, offering high visibility and excellent access to major transportation routes.; Currently 16% occupied, with a pro-forma NOI of $170,800 and a pro-forma cap rate of 5.18%.
