Add Listing
Property Lookup
    Property Lookup
    • For Sale
    • For Lease
    • Recently Sold
    • Property Lookup
    • Brokers
    AI Search
    The Largest CRE Database in the US with Over 1 Million Listings
    Property profile & analytics

    2308 Cleveland Ave Fort Myers, FL 33901-3540

    • Gas stations
    • 1,191 SF
    • 0.28 lot acres
    OFF-MARKET
    Last Sale
    Jan 31, 2023
    $675,000
    Value Estimations
    $575,000
    Show details
    Cap Rate Potential
    Location Intelligence
    Property ID
    US18-3789398
    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

    • Sports & Imports / Auto Repair Shop

    Property Details for 2308 Cleveland Ave

    Year built
    1964
    Construction
    MASONRY/CONCRETE MASONRY UNITS (CMUS)
    Lot size
    0.28 lot acres
    Property size
    1,191 SF
    Zone code
    C1
    Property type
    Gas stations
    APN
    23-44-24-P2-01900.0260
    APU
    234424P2019000260

    Value Estimations

    based on Realmo’s proprietary methodology

    • AI approach

      Method
      Estimation
      Statistic approach
      $440,000

    • Alternative Use

      Use
      Estimation
      AUTO REPAIR, GARAGE
      $870,000
      COMMERCIAL (GENERAL)
      $425,000

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

    Location Insight

    • Map
    • Local Demand
    City
    Fort Myers
    County
    Lee
    State
    Florida
    Longitude
    -81.873
    Latitude
    26.6343
    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
    $6,750
    $207,753
    $234,400
    $442,153
    -
    $207,753
    $234,400
    $442,153

    Comparable in this City

    • Value Estimation
      $580,000
      4,200 SF

      2658 Ss St

      SERVICE STATION (FULL SERVICE) • 4,200 SF
      2658 Ss St, Fort Myers, FL 33901
      View Details
    • Value Estimation
      $815,000
      6,104 SF

      2475 Fowler St

      SERVICE STATION (FULL SERVICE) • 6,104 SF
      2475 Fowler St, Fort Myers, FL 33901-5129
      View Details
    • Value Estimation by Request
      1,169 SF

      2551 Hanson St

      SERVICE STATION (FULL SERVICE) • 1,169 SF
      2551 Hanson St, Fort Myers, FL 33901-7456
      View Details
    • Value Estimation
      $1,325,000
      7,726 SF

      2315 Dr Martin Luther King Blvd

      SERVICE STATION (FULL SERVICE) • 7,726 SF
      2315 Dr Martin Luther King Blvd, Fort Myers, FL 33901-3648
      View Details
    • Value Estimation
      $1,020,000
      8,064 SF

      4028 Cleveland Ave

      SERVICE STATION (FULL SERVICE) • 8,064 SF
      4028 Cleveland Ave, Fort Myers, FL 33901-9002
      View Details
    • Value Estimation
      $660,000
      7,320 SF

      2081 Alicia St

      SERVICE STATION (FULL SERVICE) • 7,320 SF
      2081 Alicia St, Fort Myers, FL 33901-3925
      View Details

    Similar Nearby for Sale

    • $550,000
      0.34 Acres

      Fort Myers Commercial Building For Sale

      Commercial building with office, garage, and covered parking available.
      3018 Cleveland Ave, Fort Myers, FL 33901
      View Details
    • $3,950,000

      Fort Myers Industrial/Retail Portfolio

      Three-building portfolio near downtown Fort Myers, ideal for business ventures.
      2575 Fowler St, Fort Myers, FL 33901
      View Details
    • $500,000
      Pending

      Auto Dealership on Fowler Street

      Auto dealership near downtown Fort Myers with sales and service capability.
      2308 Fowler St, Fort Myers, FL 33901
      View Details
    • $1,700,000
      8,048 SF

      INVESTMENT PROPERTY WITH LONG-TERM TENANT

      Automotive properties • 8,048 SF
      3045 Fowler St, Fort Myers, FL 33901
      View Details
    • $698,500
      0.18 Acres

      Income-Producing Body Shop For Sale

      Income-producing body shop with stable lease in place for sale.
      2242 Fowler St, Fort Myers, FL 33901
      View Details
    • $1,700,000
      8,048 SF

      Automotive Sales and Service Center

      Freestanding automotive sales and service center with long-term tenant.
      3045 Fowler St, Fort Myers, FL 33901
      View Details

    Similar Nearby for Lease

    • $14 SF/Yr
      51,375 SF

      Miracle Plaza Retail Center

      Fort Myers Retail Space Available
      4224 Cleveland Ave, Fort Myers, FL 33901
      View Details
    • $1.41 SF/Yr
      12,778 SF

      Fort Myers Retail Space For Lease

      Prime Retail & Warehouse, 750 SF
      3775 Fowler St, Fort Myers, FL 33901
      View Details
    • Contact for pricing
      176,898 SF

      El Dorado Plaza Outparcel For Lease

      Fort Myers retail space, 8,317 SF available.
      4429 Cleveland Ave, Fort Myers, FL 33901
      View Details
    • $15 SF/Yr
      7,507 SF

      Renovated Downtown Retail/Office Space

      Renovated retail and office space in walkable downtown location.
      2180 W 1St St, Fort Myers, FL 33901
      View Details
    • $18 SF/Yr
      16,750 SF

      Retail/Office Space in Fort Myers

      Versatile retail or office space with high traffic count.
      2960-2976 S Cleveland Ave, Fort Myers, FL 33901
      View Details
    • $18 SF/Yr
      850 SF

      High-Visibility Retail/Office/Showroom Space

      2,200 SF space with high traffic count.
      2960 S Cleveland Ave, Fort Myers, FL 33901
      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.
    2308 Cleveland Ave
    Fort Myers, FL 33901-3540
    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

    Google sign-in failed. Please try again or use another login method.
    Sign Up Successful!
    You now have access to more from Realmo!