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    The Largest CRE Database in the US with Over 1 Million Listings
    Property profile & analytics

    15080 Cleveland Ave North Fort Myers, FL 33903

    • Banks
    • 5,756 SF
    • 1.57 lot acres
    For Lease
    View listing
    Last Sale
    Aug 03, 2022
    $830,000
    Value Estimations
    $830,000
    Cap Rate Potential
    Location Intelligence
    Property ID
    US18-1784811
    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.

    Current Use by Public Records

    • Banks

    Property Details for 15080 Cleveland Ave

    Year built
    2008
    Construction
    MASONRY/CONCRETE MASONRY UNITS (CMUS)
    Lot size
    1.57 lot acres
    Property size
    5,756 SF
    Zone code
    CC
    Property type
    Banks
    APN
    34-43-24-00-00001.3070
    APU
    34432400000013070

    Description

    This exceptional 5,838 square foot medical office space is ideally situated on a 1.57-acre lot in North Fort Myers, Lee County, Florida. Currently vacant and available for lease, this single-tenant property presents a unique opportunity for a medical practice or related business. The building's previous use as a bank branch provides a well-established and easily adaptable layout. Its strategic location offers excellent visibility and accessibility, boasting adjacency to a CVS Pharmacy and proximity to major retailers such as Home Depot and a Walmart Supercenter. This high-traffic area ensures significant foot and vehicle traffic, providing optimal exposure for any business. The property's ample lot size offers potential for future expansion or additional development. The building's existing infrastructure, inherited from its previous use as a bank, is likely to minimize initial renovation costs, making this a cost-effective option for a new tenant. The property type is classified as Retail, Office, and Restaurant, offering flexibility in potential uses, subject to local zoning regulations. The building's size and location make it an attractive proposition for a variety of medical practices seeking a prominent and convenient location to serve the North Fort Myers community. Serious inquiries are encouraged to explore this exceptional leasing opportunity.

    Value Estimations

    based on Realmo’s proprietary methodology

    • AI approach

      Method
      Estimation
      Statistic approach
      $855,000
      ML approach
      $815,000

    • Comparable approach

      Method
      Estimation
      AI Estimate
      $530,000
      Market price range: $369k - $748k

    • Alternative Use

      Use
      Estimation
      FINANCIAL BUILDING
      $1,220,000
      Current use
      NEIGHBORHOOD: SHOPPING CENTER
      $1,360,000
      Change: +11% Conversion: Difficult

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

    Location Insight

    • Map
    • Local Demand
    City
    North Fort Myers
    County
    Lee
    State
    Florida
    Longitude
    -81.9009
    Latitude
    26.6836
    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
    $15,948
    $644,605
    $439,731
    $1,084,336
    -
    $644,605
    $439,731
    $1,084,336

    Comparable in this City

    • Value Estimation by Request
      4,227 SF

      13520 Cleveland Ave

      FINANCIAL BUILDING • 4,227 SF
      13520 Cleveland Ave, North Fort Myers, FL 33903-4824
      View Details
    • Value Estimation
      $500,000
      6,331 SF

      565 Pne Is Rd

      FINANCIAL BUILDING • 6,331 SF
      565 Pne Is Rd, North Fort Myers, FL 33903-3764
      View Details
    • Value Estimation
      $1,420,000
      11,094 SF

      3405 Hancock Brg Pkwy

      FINANCIAL BUILDING • 11,094 SF
      3405 Hancock Brg Pkwy, North Fort Myers, FL 33903-7004
      View Details
    • Value Estimation
      $520,000
      9,411 SF

      15051 Cleveland Ave

      FINANCIAL BUILDING • 9,411 SF
      15051 Cleveland Ave, North Fort Myers, FL 33903-2774
      View Details
    • Value Estimation
      $1,420,000
      8,575 SF

      19001 Tamiami Trl

      RETAIL STORES (PERSONAL SERVICES) • 8,575 SF
      19001 Tamiami Trl, North Fort Myers, FL 33903-7306
      View Details
    • Value Estimation
      $825,000
      4,212 SF

      14130 Cleveland Ave

      RETAIL STORES (PERSONAL SERVICES) • 4,212 SF
      14130 Cleveland Ave, North Fort Myers, FL 33903-3875
      View Details

    Similar Nearby for Sale

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      8,126 sq ft commercial building on 0.83 acres.
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      Corner commercial outparcel with high visibility and development approvals.
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    • $3,500,000
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      North Fort Myers Commercial Land

      7.5 acres of commercial land with road frontage.
      14710 N Cleveland Ave, North Fort Myers, FL 33903
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    • Contact for pricing
      5.00 Acres

      Prime Commercial Land on US 41

      5+ Acres, High Visibility, Multi-Use
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    • $1,350,000
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      Restaurant on US 41 Available

      Freestanding restaurant with drive-thru and high visibility on US 41.
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      Move-in Ready Restaurant in North

      Restaurant property in move-in ready condition with indoor/outdoor seating.
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    Similar Nearby for Lease

    • Contact for pricing

      Retail Space in Merchants Crossing

      Prime retail space in a high-traffic North Fort Myers location.
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      View Details
    • New
      $900 /Mo
      26,441 SF

      Retail Space on US41 Frontage

      Retail space with high visibility on US41 in North Fort Myers.
      1621 N Tamiami Trl, North Fort Myers, FL 33903
      View Details
    • Contact for pricing
      1,160 SF

      Retail Space in Fort Myers

      Retail space with strong co-tenants near Walmart.
      525-535 Pine Island Rd, North Fort Myers, FL 33903
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    • $1,800 /Mo
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      North Fort Myers Retail Space

      High-visibility retail space in a bustling commercial corridor.
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      View Details
    • Contact for pricing
      2,500 SF

      Retail or Restaurant Space Available

      Freestanding building with drive-thru option on 0.91 AC lot.
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      View Details
    • Contact for pricing
      49,833 SF

      North Fort Myers Retail/Office Space

      800 SF commercial unit in high-traffic North Fort Myers location.
      710 Pondella Rd, North Fort Myers, FL 33903
      View Details
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    15080 Cleveland Ave
    North Fort Myers, FL 33903
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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.

    More about this property
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