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    4805 Cleveland Ave Fort Myers, FL 33907

    For Sale
    $3,300,000

    High-Visibility Retail Space, Value-Add Opportunity

    Property size:
    8,100 SF

    Description

    Added:
    Dec 11, 2024
    Days on Market:
    370
    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 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

    HighLights

    • $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%.
    • Features significant redevelopment potential, flexible commercial zoning, and a 26,057 square foot lot.
    • The property includes a single, one‑story, 1973‑built building with a 15‑year NNN lease (expiring 2/27/2027), currently occupied by one tenant.
    Property Profile Insight Report Location Intelligence

    Current Use by Public Records

    Kabab Spot Kebab Shop The big easy arcade Casino

    Suggested Use

    Restaurant Realty agency Law Firm Building Supply Dental Office Spa & Massage Wholesale Shop Auto Repair Shop Hair Salon Hotel & Motel

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

    Location Insight

    • Map
    • Local Demand
    City
    Fort Myers
    County
    Lee
    State
    Florida
    Longitude
    -81.8713984
    Latitude
    26.5908891

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    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%.
    Request Owner's contact information
    4805 Cleveland Ave Fort Myers, FL 33907
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    Fort Myers, FL 33907
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    Realmo Value Estimation

    Realmo estimates a property’s market value using a proprietary methodology that incorporates public data and user-submitted information. This cumulative value is generated by integrating a variety of conventional and innovative methods. 

    Disclaimer

    These figures are not official appraisals and should not be used as a substitute for a valuation performed by a licensed appraiser.

    Actual market value may differ due to factors not captured in the data. Estimates are offered for informational purposes only, and users should conduct independent research before making financial or investment decisions.

    By using this feature, you acknowledge that Realmo is not responsible for actions taken based on these estimates.

    AI approach

    Realmo AI Method estimates property value using machine learning models trained on millions of comparable listings, transactions, and market signals. It analyzes property features, location intelligence data, and current market dynamics to predict the most probable market value in real time.

    Cap approach

    Capitalization Method calculates value based on estimated net operating income (NOI) and applying a market-based capitalization rate (cap rate), we estimate what a typical investor might be willing to pay for it.

    Comparable approach

    Comparable estimate is based on recent sales of similar nearby properties, adjusted for factors like size, condition, and location.

    Relative

    Relative property class coefficient uses factors that account for typical price differences between various asset types (e.g., retail vs. industrial) to provide a more accurate market-aligned estimate.

    Geo

    Comparable Sales Method, enhanced by Geo coefficients — location-based adjustment factors that reflect differences in price levels across neighborhoods, cities, or regions ensuring a more accurate, market-sensitive valuation.

    Alternative use

    Estimate considers the property’s potential value if used for a different purpose-based on zoning, demand, and market feasibility.

    More about this property
    4805 Cleveland Ave Fort Myers, FL 33907
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