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

    3645 Cleveland Ave Fort Myers, FL 33901-7905

    • Drive through restaurants
    • 4,548 SF
    • 1.28 lot acres
    OFF-MARKET
    Value Estimations
    $620,000
    Cap Rate Potential
    Location Intelligence
    Property ID
    US18-5080544
    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

    • McDonald's / Restaurant / Take-out & Catering

    Property Details for 3645 Cleveland Ave

    Year built
    2015
    Construction
    MASONRY/CONCRETE MASONRY UNITS (CMUS)
    Lot size
    1.28 lot acres
    Property size
    4,548 SF
    Zone code
    C1
    Property type
    Drive through restaurants
    APN
    36-44-24-P1-00004.0050
    APU
    364424P1000040050

    Value Estimations

    based on Realmo’s proprietary methodology

    • AI approach

    • CAP approach

    • Comparable approach

    • Alternative Use

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

    Location Insight

    • Map
    • Local Demand
    City
    Fort Myers
    County
    Lee
    State
    Florida
    Longitude
    -81.8714
    Latitude
    26.6095
    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
    $46,249
    $1,341,406
    $1,514,261
    $2,855,667
    -
    $1,341,406
    $1,514,261
    $2,855,667

    Comparable in this City

    • Value Estimation by Request
      3,733 SF

      4004 Cleveland Ave

      DRIVE-THRU RESTAURANT, FAST FOOD • 3,733 SF
      4004 Cleveland Ave, Fort Myers, FL 33901-9002
      View Details
    • Value Estimation by Request
      1,989 SF

      2475 Cleveland Ave

      DRIVE-THRU RESTAURANT, FAST FOOD • 1,989 SF
      2475 Cleveland Ave, Fort Myers, FL 33901-4904
      View Details
    • Value Estimation by Request
      1,984 SF

      3238 Fowler St

      DRIVE-THRU RESTAURANT, FAST FOOD • 1,984 SF
      3238 Fowler St, Fort Myers, FL 33901-7317
      View Details
    • Value Estimation by Request
      1,200 SF

      3412 Cleveland Ave

      DRIVE-THRU RESTAURANT, FAST FOOD • 1,200 SF
      3412 Cleveland Ave, Fort Myers, FL 33901-7108
      View Details
    • Value Estimation by Request
      2,596 SF

      3431 Cleveland Ave

      DRIVE-THRU RESTAURANT, FAST FOOD • 2,596 SF
      3431 Cleveland Ave, Fort Myers, FL 33901-7110
      View Details
    • Value Estimation by Request
      754 SF

      3852 Cleveland Ave

      DRIVE-THRU RESTAURANT, FAST FOOD • 754 SF
      3852 Cleveland Ave, Fort Myers, FL 33901-8610
      View Details

    Similar Nearby for Sale

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      Restaurant with On-Site Parking

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    • Contact for pricing

      7-Eleven with Gas and ATM

      High-traffic Fort Myers location with strong national tenants.
      2977 Cleveland Ave, Fort Myers, FL 33901
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    • $4,850,000
      3.37 Acres

      Fort Myers Commercial Investment Opportunity

      High-traffic retail property near downtown Fort Myers with 7% CAP.
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    Similar Nearby for Lease

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      7,507 SF

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      Renovated retail and office space in walkable downtown location.
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      Fort Myers Retail Space For Lease

      Prime Retail & Warehouse, 750 SF
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    • 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
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    • $14 SF/Yr
      51,375 SF

      Miracle Plaza Retail Center

      Fort Myers Retail Space Available
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    • $25 SF/Yr
      1,416 SF

      Downtown Fort Myers Retail Space

      High-traffic retail space in downtown Fort Myers for lease.
      2023 Altamont Ave, Fort Myers, FL 33901
      View Details

    Property Visit Statistics

    • Visits by month
      34.5k
    • Visitors by month
      23.3k
    • Avg Time on site
      11 min
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    3645 Cleveland Ave
    Fort Myers, FL 33901-7905
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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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