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

    4003 Cleveland Ave Fort Myers, FL 33901-9003

    • Retail properties
    • 137,453 SF
    • 11.64 lot acres
    OFF-MARKET
    Last Sale
    Nov 26, 2024
    $5,819,500
    Value Estimations
    $5,820,000
    Show details
    Cap Rate Potential
    Location Intelligence
    Property ID
    US18-9946701
    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

    • Cole National Corporation / Ophthalmologist / (Bike/Boat/Book/etc) Store
    • Sears Heating and Air Conditioning / HVAC Service / General Contractor
    • Churrico Factory / Restaurant / Take-out & Catering

    Property Details for 4003 Cleveland Ave

    Year built
    1964
    Construction
    MASONRY/CONCRETE MASONRY UNITS (CMUS)
    Lot size
    11.64 lot acres
    Property size
    137,453 SF
    Zone code
    C1
    Property type
    Retail properties
    APN
    36-44-24-P4-00018.0000
    APU
    364424P4000180000

    Value Estimations

    based on Realmo’s proprietary methodology

    • AI approach

      Method
      Estimation
      Statistic approach
      $5,820,000
      ML approach
      $5,820,000

    • Comparable approach

      Method
      Estimation
      AI Estimate
      $7,731,000
      Market price range: $7.73M - $27.6M

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

    Location Insight

    • Map
    • Local Demand
    City
    Fort Myers
    County
    Lee
    State
    Florida
    Longitude
    -81.8698
    Latitude
    26.6036
    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
    $116,261
    $462,673
    $3,610,400
    $4,073,073
    -
    $462,673
    $3,610,400
    $4,073,073

    Comparable in this City

    • Value Estimation by Request
      9,600 SF

      4150 Cleveland Ave

      Individual retail properties • 9,600 SF
      4150 Cleveland Ave, Fort Myers, FL 33901
      View Details
    • Value Estimation by Request
      25,264 SF

      2559/2575 Fowler St

      Flex space • 25,264 SF
      2559/2575 Fowler St, Fort Myers, FL 33901
      View Details
    • Value Estimation by Request
      526,757 SF

      2500 Edwards Dr

      Restaurants • 526,757 SF
      2500 Edwards Dr, Fort Myers, FL 33901
      View Details
    • Value Estimation by Request
      1,553 SF

      Myers Location Smoothie And Bowls Shop- Franchise For Sale Great Ft

      Restaurants • 1,553 SF
      Myers Location Smoothie And Bowls Shop- Franchise For Sale Great Ft, Fort Myers, FL 33901
      View Details
    • Value Estimation by Request
      22,038 SF

      4434-4458 Cleveland Ave

      Lifestyle centers • 22,038 SF
      4434-4458 Cleveland Ave, Fort Myers, FL 33901
      View Details
    • Value Estimation by Request
      6,370 SF

      2400 Cleveland Ave

      Individual retail properties • 6,370 SF
      2400 Cleveland Ave, Fort Myers, FL 33901
      View Details

    Similar Nearby for Sale

    • $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
    • $5,900,000
      22,038 SF

      Fort Myers Shopping Center Investment

      Prime location, high-growth potential, strong NOI.
      4434-4458 Cleveland Ave, Fort Myers, FL 33901
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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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    • $3,000,000
      13,778 SF

      Commercial Retail Space For Sale

      13,778 SF retail space on 1.23 acres.
      4100 Evans Ave, Fort Myers, FL 33901
      View Details
    • $4,850,000
      3.37 Acres

      Fort Myers Commercial Investment Opportunity

      High-traffic retail property near downtown Fort Myers with 7% CAP.
      2800 Fowler St, Fort Myers, FL 33901
      View Details
    • New
      $259,000
      1,685 SF

      Bundled Investment Property Opportunity

      Three commercial units for sale as bundled investment property.
      3949 103, Fort Myers, FL 33901
      View Details

    Similar Nearby for Lease

    • $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
    • $14 SF/Yr
      51,375 SF

      Miracle Plaza Retail Center

      Fort Myers Retail Space Available
      4224 Cleveland Ave, Fort Myers, FL 33901
      View Details
    • $24 SF/Yr
      2,948 SF

      Downtown Fort Myers Office Building

      Historic building, turnkey office space.
      1605 Hendry St, 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
    • $15 SF/Yr
      526,757 SF

      Edison Grand Office Space in Fort Myers

      Prime Fort Myers office space, multiple suites available.
      2500 Edwards Dr, Fort Myers, FL 33901
      View Details
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    4003 Cleveland Ave
    Fort Myers, FL 33901-9003
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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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