Add Listing
    Property Lookup
    • For Sale
    • For Lease
    • Recently Sold
    • Property Lookup
    • Brokers
    15151 Cleveland Ave North Fort Myers, FL 33903-2776
    Back to Search
    Property profile & analytics

    15151 Cleveland Ave, North Fort Myers, FL 33903-2776

    View on Map
    • Turn key restaurants
    • 5,152 SF
    • 1.00 lot acres
    Off-Market
    Property ID
    US18-1761982
    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

    • Turn key restaurants

    Property Details for 15151 Cleveland Ave

    Year built
    1994
    Construction
    MASONRY/CONCRETE MASONRY UNITS (CMUS)
    Lot size
    1.00 lot acres
    Zone code
    CPD
    Property type
    Turn key restaurants
    APN
    34-43-24-03-0000G.0000
    APU
    344324030000G0000

    Sales History

    Date Price Buyer Seller Deed Type Mortgage
    Dec 29, 2016 $4,928 Scf Rc Fundign I LLC Scf Rc Master Fundignllc Special Warranty Deed $351.7M · Citibank NA
    Jun 20, 2016 $1,851,819 Scfrc-hw-g LLC Ge Cap Franchise Fin Corp Grant Deed —
    Oct 9, 2015 $20,500,000 Rb Merchants LLC Hart Centers Vii Ltd Grant Deed $15.4M · Israel Discount Bk/ny
    Aug 17, 2009 — Gator Apple LLC — Deed Of Trust · related $23.7M · Bank Of America
    Jan 2, 2008 — Florida Apple 1 LLC — Deed Of Trust · related $25M · Bank Of America
    Aug 3, 2007 $3,818,900 Ge Cap Franchise Finance Corp Glw Properties West LLC Grant Deed —
    Sep 23, 1998 $1,494,000 Glw Properties West LLC Apple South INC Grant Deed $1.5M · Ffca Acquisition Corp
    — — Florida Apple West LLC — Deed Of Trust · related $1.6M · Franchise Mortgage Acceptance

    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
    -81.9023
    Latitude
    26.6855
    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
    $19,539
    $690,644
    $559,771
    $1,250,415
    -
    $690,644
    $559,771
    $1,250,415

    Comparable in this City

    • Value Estimation
      $8,140,000
      1,120 SF

      3448 Marinatown Ln

      RESTAURANT
      3448 Marinatown Ln, North Fort Myers, FL 33903-7046
      View Details
    • Value Estimation by Request
      2,670 SF

      4400 Hancock Brg Pkwy

      RESTAURANT
      4400 Hancock Brg Pkwy, North Fort Myers, FL 33903-4280
      View Details
    • Value Estimation
      $1,135,000
      5,186 SF

      547 Pne Is Rd

      RESTAURANT
      547 Pne Is Rd, North Fort Myers, FL 33903-3764
      View Details
    • Value Estimation
      $690,000
      3,345 SF

      1475 Tamiami Trl

      RESTAURANT
      1475 Tamiami Trl, North Fort Myers, FL 33903-3817
      View Details
    • Value Estimation by Request
      3,460 SF

      1130 Tamiami Trl

      RESTAURANT
      1130 Tamiami Trl, North Fort Myers, FL 33903-5330
      View Details
    • Value Estimation
      $8,035,000
      4,000 SF

      3440 Marinatown Ln

      RESTAURANT
      3440 Marinatown Ln, North Fort Myers, FL 33903-7049
      View Details

    Similar Nearby for Sale

    • New
      $650,000
      1.41 Acres

      Corner Commercial Outparcel

      Corner outparcel with long frontage, utilities in place, and approvals for restaurant or commercial development.
      18981 Del Tura Plz Ln, North Fort Myers, FL 33903
      View Details
    • $1,350,000

      High-Visibility Restaurant on US 41

      Freestanding restaurant with drive-thru and liquor license on US 41.
      1130 N Tamiami Trl, North Fort Myers, FL 33903
      View Details
    • $1,200,000
      3,460 SF

      Restaurant on US 41 For Sale

      Freestanding restaurant with drive-thru and high visibility on US 41.
      1130 N Tamiami Trl, North Fort Myers, FL 33903
      View Details
    • Contact for pricing

      Second-Generation Restaurant Space

      Turnkey second-generation restaurant opportunity offering 3,331 SF for a new operator in North Fort Myers.
      13050 N Cleveland Ave, North Fort Myers, FL 33903
      View Details
    • $2,200,000
      5,850 SF

      North Fort Myers Commercial Opportunity

      Versatile commercial property with high visibility and multiple uses.
      236 Pondella Rd, North Fort Myers, FL 33903
      View Details
    • $1,350,000
      Pending

      Multi-Bay Industrial Investment Opportunity

      Five-bay industrial warehouse in North Fort Myers with income streams.
      7521 Aluminum Rd, North Fort Myers, FL 33903
      View Details

    Similar Nearby for Lease

    • Contact for pricing
      2,500 SF

      Retail or Restaurant Space Available

      Freestanding building with drive-thru option on 0.91 AC lot.
      546 Pine Island Rd, North Fort Myers, FL 33903
      View Details
    • New
      $1,200 /Mo
      49,833 SF

      Retail Storefront Suite

      800 SF unit in a busy neighborhood plaza with strong visibility and ample on-site parking, suited for retail or office uses.
      710 Pondella Rd, North Fort Myers, FL 33903
      View Details
    • Contact for pricing

      Merchants Crossing Retail Space Available

      Retail spaces for lease in North Fort Myers shopping center.
      15201 N Cleveland Ave, Fort Myers, FL 33903
      View Details
    • $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
    • Contact for pricing
      2,800 SF

      Retail Space in Fort Myers

      Retail space with strong co-tenants near Walmart.
      525-535 Pine Island Rd, North Fort Myers, FL 33903
      View Details
    • Contact for pricing
      2,554 SF

      Retail Space Anchored by Publix

      Retail space in North Fort Myers, anchored by Publix.
      4085 Hancock Bridge Pkwy, North Fort Myers, FL 33903
      View Details
    Request Owner's contact information
    Message sent successfully
    Error
    If you are the owner or broker of this property and would like to edit or remove this listing please send a message to web site administrator.
    15151 Cleveland Ave
    North Fort Myers, FL 33903-2776
    Message sent successfully
    Error
    Email to Your Friends
    Link copied to clipboard
    Separate multiple addresses with a comma
    Message sent successfully
    Error

    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
    Thanks! Your message was sent.
    Error! Your message wasn't sent.
    Please enter your name
    Please enter email
    Please enter the email in the correct format
    Please enter phone
    Please enter the number in the correct format
    Please enter message
    Thank You

    You are Unsubscribed From Notifications

    Thank You for Inquiry
    15151 Cleveland Ave, North Fort Myers, FL, 33903
    letter with green check mark
    Check your email
    We sent you the
    agent's contact details. yellow underline
    Can't find it?
    Please check your junk/spam folder.
    Google sign-in failed. Please try again or use another login method.
    Sign Up Successful!
    You now have access to more from Realmo!