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Property profile & analytics
FOR SALE
Strip malls
12377 S Cleveland Ave Fort Myers, FL 33907
Entity Owned
5-yr Hold
~
Est. High Equity
Property ID
US18-8244759
For Sale
1 / 15
$2,890,000
12377 S Cleveland Ave, Fort Myers, FL 33907
View Listing →
Property profile
Verified
Property type
Strip malls
Use group
SHOPPING CENTER, STRIP CENTER
Year built
1966
Construction
MASONRY/CONCRETE MASONRY UNITS (CMUS)
Total area
21,351 SF
Lot
1.52 ac (66,215 SF)
Zoning code
CPD
APN
13-45-24-L1-37000.0030
UPID
US18-8244759
Cap rate & NOI
Priority signal for investors
Implied cap rate, NOI & suggested price
Cap rate vs submarket · NOI estimate · 3 price anchors
Implied cap rate, NOI & suggested price
Cap vs submarket · NOI estimate · 3 price anchors
Current use
Occupant on record · Public records
-
Van Pelt Jewelers Inc (Bike/Boat/Book/etc) Store
-
Greenhill & Greenhill Dental Office
-
Ray's Barber Shop Barber Shop
-
Michela's Pizzeria Restaurant
-
Jersey Mike's Subs Take-out & Catering
Value estimations
Realmo proprietary · 4 methods
AI Approach
AI
$2.57M
CAP Approach
CAP
by Request
Comparable Approach
Comparable
$3.10M
Blend (final)
Blend
$2.89M
Owner & transaction history
Villas 77 LLC · 5 yrs held
Villas 77 LLC
since 2021
Last sale
$3.0M
2 recorded transactions
Zoning & alternative use
CPD · Fort Myers, FL
Permitted uses
Permitted uses
Allowed · conditional · prohibited
Cap rate
Implied · in-place · derived from last sale + estimated NOI
Implied Cap rate
#1
Implied · in-place · NOI ÷ last sale
In-place · derived from last sale + estimated NOI
Cap rate, NOI & submarket benchmark
Implied cap rate vs Fort Myers submarket · NOI estimate · Typical band, median & reading
Implied cap rate, NOI & submarket benchmark
Cap vs Fort Myers submarket · NOI estimate · typical band, median & reading
Refine your cap rate
8-question underwriting flow
1.
Property current status — Going-In vs Stabilized
2.
Price for denominator — asking / offer / market
3.
Leasing status & lease structure (NNN / Gross)
4.
Tenant risk profile & vacancy assumption
5.
Upload T12 / rent roll / OM (optional)
Refine in 60 seconds, get exact suggested price
T12 upload · Submarket benchmarks · Sensitivity grid
Suggested price · 3 cap rate anchors
Income approach @ 5% / 7% / 9% — aggressive / typical / conservative
Suggested price at 5% / 7% / 9% cap
Aggressive / typical / conservative · Implied $/SF per anchor · Sensitivity grid
Suggested price at 5% / 7% / 9% cap
Aggressive / typical / conservative · implied $/SF · sensitivity
Value
AI, CAP & Alternative Use estimations · Realmo proprietary blendValue Estimations
Based on Realmo’s proprietary methodology
AI Approach
Method
Estimation
Statistic approach
$1,995,000
ML approach
$2,565,000
CAP Approach
CAP Return
Estimation
6%
by Request
6.5%
by Request
7%
by Request
Alternative Use
Use
Estimation
OFFICE BUILDING
$4,300,000
Change: -15% · Conversion: Moderate
INDUSTRIAL (GENERAL)
$4,160,000
Change: -18% · Conversion: Difficult
Blend value · Realmo final
$2.89M
Range $2.60M – $3.18M · ±10% · vs last sale $2.95M (May 27 2021)
Last sale anchor
$2.95M
May 27 2021
Realmo estimate · informational only.
These numbers are calculated by our models from public records and may not reflect actual market value.
Not an appraisal.
Verify with a licensed appraiser before transacting. Realmo accepts no liability for divergence from real-world outcomes.
View the full estimation — every method, every assumption
Confidence drivers & risk notes · Custom comparable set · Free for first 3 / day
Full estimation methodology
Every method · every assumption · confidence drivers
Price per SF
Sale + rent benchmarks
Subject property
$135 / SF
Submarket sale & rent benchmarks
Median sale $/SF · Asking & closed rent · Submarket vacancy
Submarket sale & rent benchmarks
Median sale $/SF · asking & closed rent · submarket vacancy
Property tax & assessments
Tax year 2023Property tax & assessments
Tax year 2023
Tax billed
$36,197
Tax year 2023
Assessed value
$2,708,281
Assessed 2023
Previous assessed
$2,317,618
+16.9% YoY
Effective rate
1.34%
On assessed value
Assessed land
$1,164,589
Assessed improvement
$1,543,692
Land market value
$1,164,589
Improvement market value
$1,543,692
Total market value
$2,708,281
Applied tax rate
47.0000
Comparables
6 recent transactions · within 1.5 miComparable in this city
6 recent transactions
Comparable in this City
Similar Nearby for Sale
Similar Nearby for Lease
Recent comparable sales
Sale price & price/SF · Sale date & distance · Adjustments & confidence
Recent comparable sales
Sale price & $/SF · sale date & distance · adjustments
Property description
Physical attributes from public recordsBuilding & lot
Public records
Property type
Strip malls
Use group
SHOPPING CENTER, STRIP CENTER
Status
For Sale
Year built
1966
Construction
MASONRY/CONCRETE MASONRY UNITS (CMUS)
Heating
FORCED AIR
Cooling
AC.PACKAGE
Stories
1
Total area
21,351 SF
Lot
1.52 ac (66,215 SF)
Zoning code
CPD
APN
13-45-24-L1-37000.0030
UPID
US18-8244759
Jurisdiction
LEE
Zoning & alternative use
CPD · Fort Myers, FL
Zoning CPD · permitted uses
CPD · Fort Myers, FL
Permitted & conditional uses
Allowed uses · Special-permit conditions · Prohibited uses
Permitted & conditional uses
Allowed · special-permit conditions · prohibited
Fort Myers. Always verify with local authorities before improvements.
Alternative use value scenarios
Repositioning upside vs current use
OFFICE BUILDING
Est. value
$4.3M
INDUSTRIAL (GENERAL)
Est. value
$4.2M
OFFICE BUILDING
INDUSTRIAL (GENERAL)
Alternative use deep dive — conversion cost, permits, timeline
Conversion cost estimate · Permit path & risks · Stabilized NOI per option
Alternative use deep dive
Conversion cost · permit path · stabilized NOI per option
Building & site characteristics
From public records
Year built
1966
Construction
MASONRY/CONCRETE MASONRY UNITS (CMUS)
Heating
FORCED AIR
Cooling
Yes
Stories
1
Lot
1.52 ac
Current owner
From public records · entity-resolved
Villas 77 LLC
Entity
Mailing address
6438 83RD ST, MIDDLE VILLAGE, NY 11379-2333
Ownership since
2021
Owner contacts — direct phone, email, and related entities
Decision-maker phone · Verified email · Related entities & filings
Owner contacts
Email · phone · related entities
Sales History
2 recorded events · public records
Date
Price
Buyer
Seller
Deed Type
Mortgage
May 14, 2024
—
Villas 77 LLC
—
Deed
related
$1,900,000 · Valley Bank
May 27, 2021
$2,950,000
Villas 77 LLC
Three Js LLP
Warranty Deed
$2,065,000 · Three Js LLP
Coming soon
Costs & Benchmarks
Operating expenses, capex projections, utility benchmarks, and submarket comparables — all in one view.
Coming soon
Risks
Flood, climate, environmental, title, and tenant-concentration risk — surfaced with mitigations and source citations.
Try Rey
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“Is 15.6% cap rate sustainable?” · “Best tenant mix for BU1?” · “What’s the redev upside?”
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