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    13220 Cleveland Ave North Fort Myers, FL 33903-4833
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    13220 Cleveland Ave, North Fort Myers, FL 33903-4833

    View on Map
    • Drive through restaurants
    • 768 SF
    • 0.61 lot acres
    Off-Market
    Property ID
    US18-9189056
    The Realmo ID is a unique identifier assigned to every property, incorporating country codes and precise geo-coordinates for 300x300-foot land blocks. It enables standardized data collection and seamless integration of disparate sources such as ownership, tax, title data and physical specifications. By aggregating current and historical records, the Realmo ID powers advanced analytics and delivers deep, verifiable insights for real estate professionals.
    Value Estimations
    Cap Rate Potential
    Location Intelligence

    Current Use by Public Records

    • Drive through restaurants

    Property Details for 13220 Cleveland Ave

    Year built
    1993
    Construction
    FRAME
    Lot size
    0.61 lot acres
    Zone code
    CC
    Property type
    Drive through restaurants
    APN
    11-44-24-00-00017.4B10
    APU
    11442400000174B10

    Sales History

    Date Price Buyer Seller Deed Type Mortgage
    May 19, 2017 $132,500 Brian Maltby Ling Ling Express INC Warranty Deed —
    Apr 5, 2010 $250,000 Ling Ling Express INC Bayview Ln Svcg LLC Grant Deed —
    Mar 5, 2009 — Bayview Loan Servicing LLC Mobay Ents LLC Coc Trustees Deed · related —
    Nov 28, 2007 $700,000 Mobay Ents LLC Quiz Fort Myers LLC Grant Deed $525k · Comnet Financial Corp
    May 24, 2005 — Quiz Fort Myers LLC Hilliker,margaret H Quit Claim Deed · related —
    May 24, 2005 $430,000 Quiz Fort Myers LLC Smoot J T JR Trust Grant Deed $323k · Community Bank Of Broward

    Value Estimations

    based on Realmo’s proprietary methodology

    • AI approach

    • CAP approach

    • Comparable approach

    • Alternative Use

    Get a detailed, property-specific estimation — fast and free

    Location Insight

    • Map
    • Local Demand
    City
    North Fort Myers
    County
    Lee
    State
    Florida
    Longitude
    -81.8838
    Latitude
    26.6613
    CBSA code
    15980
    CBSA name
    CAPE CORAL-FORT MYERS, FL METROPOLITAN STATISTICAL AREA

    Property Tax & Assessments

    Tax date
    Tax Amount
    Assessed Land Value
    Assessed Improvement Value
    Total Assessed Value
    Applied Tax Rate
    Land Market Value
    Improvement Market Value
    Total Market Value
    2023
    $2,555
    $69,055
    $89,328
    $158,383
    -
    $69,055
    $89,328
    $158,383

    Comparable in this City

    • Value Estimation by Request
      3,180 SF

      13721 Cleveland Ave

      DRIVE-THRU RESTAURANT, FAST FOOD
      13721 Cleveland Ave, North Fort Myers, FL 33903-4331
      View Details
    • Value Estimation by Request
      1,701 SF

      555 Pne Is Rd

      DRIVE-THRU RESTAURANT, FAST FOOD
      555 Pne Is Rd, North Fort Myers, FL 33903-3764
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    • Value Estimation
      $660,000
      4,589 SF

      13741 Cleveland Ave

      DRIVE-THRU RESTAURANT, FAST FOOD
      13741 Cleveland Ave, North Fort Myers, FL 33903-4331
      View Details
    • Value Estimation by Request
      1,777 SF

      13160 Cleveland Ave

      DRIVE-THRU RESTAURANT, FAST FOOD
      13160 Cleveland Ave, North Fort Myers, FL 33903-4829
      View Details
    • Value Estimation by Request
      1,957 SF

      14071 Cleveland Ave

      DRIVE-THRU RESTAURANT, FAST FOOD
      14071 Cleveland Ave, North Fort Myers, FL 33903-3802
      View Details
    • Value Estimation
      $550,000
      3,331 SF

      13050 Cleveland Ave

      DRIVE-THRU RESTAURANT, FAST FOOD
      13050 Cleveland Ave, North Fort Myers, FL 33903-4829
      View Details

    Similar Nearby for Sale

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      3,460 SF

      Restaurant on US 41 For Sale

      Freestanding restaurant with drive-thru and high visibility on US 41.
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    • $1,350,000

      High-Visibility Restaurant on US 41

      Freestanding restaurant with drive-thru and liquor license on US 41.
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    • New
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      1.41 Acres

      Corner Commercial Outparcel

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    • Contact for pricing

      Second-Generation Restaurant Space

      Turnkey second-generation restaurant opportunity offering 3,331 SF for a new operator in North Fort Myers.
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      7.5 Acres Corner Land Parcel

      7.5 acres corner land parcel with road access.
      14710 N Cleveland Ave, North Fort Myers, FL 33903
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    • $3,500,000
      7.50 Acres

      North Fort Myers Commercial Land

      7.5 acres of commercial land with road frontage.
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    Similar Nearby for Lease

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      2,500 SF

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    • New
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      49,833 SF

      Retail Storefront Suite

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      Retail Space in Merchants Crossing

      Prime retail space in a high-traffic North Fort Myers location.
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      Retail Space on Piney Road

      Retail space available for rent on Piney Road.
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      North Fort Myers Retail/Office Space

      Retail and office spaces available for lease in North Fort Myers.
      13761 N Cleveland Ave, North Fort Myers, FL 33903
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    • $1,700 /Mo
      49,833 SF

      North Fort Myers Retail Space

      High-traffic commercial unit in Northside Plaza available for lease.
      710 Pondella Rd, North Fort Myers, FL 33903
      View Details
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    North Fort Myers, FL 33903-4833
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    Realmo Value Estimations

    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.

    Realmo CapRate Calculation

    Realmo calculates the Capitalization Rate (Cap Rate) to help estimate a property's potential return on investment. The Cap Rate is a fundamental metric in commercial real estate that measures the relationship between a property's net operating income and its market value.

    How We Calculate Cap Rate

    Cap Rate Formula:
    Cap Rate (%) = (Net Operating Income / Property Value) × 100

    Net Operating Income (NOI) Formula:
    NOI = Area × Lease Rate × (1 - Vacancy Rate) × (1 - Operating Expense Ratio)

    Components

    Net Operating Income (NOI) represents the annual income a property generates after operating expenses:

    • Area: Building square footage from property records
    • Lease Rate: Annual $/sqft based on market data for the property type and geographic location
    • Vacancy Rate: Percentage of unoccupied space based on market data for the property type and location
    • Operating Expense Ratio: Operating costs as a percentage of income, varies by property type

    Property Value is derived from:

    • Recent sale price (if available)
    • Statistical models using comparable sales
    • AI-powered valuation estimates

    Example Calculation

    For a 100,000 sqft Office Building:

    • Lease Rate: $25.00/sqft/year (market data for Office in this area)
    • Vacancy Rate: 8% (market data for Office in this area)
    • Operating Expense Ratio: 35% (typical for Office properties)
    • Property Value: $15,000,000

    Step 1: Calculate NOI

    NOI = 100,000 × $25.00 × (1 - 0.08) × (1 - 0.35)
    NOI = 100,000 × $25.00 × 0.92 × 0.65
    NOI = $1,495,000/year

    Step 2: Calculate Cap Rate

    Cap Rate = ($1,495,000 / $15,000,000) × 100
    Cap Rate = 9.97%

    Property Type Considerations

    Net Operating Income calculations vary by property type due to different operating expense ratios:

    • Office: Higher expenses (30-40%) for HVAC, utilities, maintenance
    • Retail: Moderate expenses (25-35%) for common area maintenance
    • Industrial/Warehouse: Lower expenses (15-25%) for minimal tenant services
    • Multifamily: Moderate expenses (35-45%) including property management
    • Self-Storage: Lower expenses (25-35%) due to minimal maintenance

    Market lease rates and vacancy rates are specific to each property type and geographic location, reflecting local market conditions.

    Disclaimer

    These calculations are estimates for informational purposes only and should not be used as a substitute for professional financial analysis or appraisal.

    • Cap Rate calculations depend on market data that may change over time
    • Actual operating expenses, lease rates, and vacancy rates may differ from market averages
    • Individual property conditions, lease terms, and tenant quality significantly impact actual NOI
    • Property value estimates are approximations and not official appraisals
    • Cap rates vary widely by market, property condition, and investment risk profile

    Professional Guidance Recommended: Before making any investment or financial decisions, consult with licensed appraisers, commercial real estate brokers, and financial advisors who can evaluate your specific property and circumstances.
    By using this feature, you acknowledge that Realmo is not responsible for investment decisions or actions taken based on these estimates.

    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.

    Stat Estimate

    This method estimates value based on actual market adjusted recent (~5 years) sales of comparable properties around by location and property type.

    • Ranges - area data calculated by industry standard IQR Outlier Removal Method
    • Range-from: 75% of all similar sales ($/sqft) are above this value
    • Range-to: 75% of all similar sales ($/sqft) are below this value
    AI Estimate

    This method estimates value based on AI market estimation of comparable properties around by location and property type.

    • Ranges - area data calculated by industry standard IQR Outlier Removal Method
    • Range-from: 75% of all estimations ($/sqft) are above this value
    • Range-to: 75% of all estimations ($/sqft) are below this value
    Alternative use

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

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