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    Property profile & analytics

    4606 Cleveland Ave, Unit 4666 Fort Myers, FL 33907-1316

    • Community centers
    • 20,020 SF
    • 19.07 lot acres
    OFF-MARKET
    Value Estimations
    $5,220,000
    Show details
    Cap Rate Potential
    Location Intelligence
    Property ID
    US18-0053245
    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

    • The Sandbar & Grille / Restaurant
    • New England Patriots Fan Club of Southwest Florida / Gym & Fitness Center / Sports Field & Court

    Property Details for 4606 Cleveland Ave

    Year built
    1973
    Construction
    MASONRY/CONCRETE MASONRY UNITS (CMUS)
    Lot size
    19.07 lot acres
    Property size
    20,020 SF
    Zone code
    CI CI
    Property type
    Community centers
    APN
    02-45-24-P2-00067.0000
    APU
    024524P2000670000

    Value Estimations

    based on Realmo’s proprietary methodology

    • Alternative Use

      Use
      Estimation
      NEIGHBORHOOD: SHOPPING CENTER
      $4,735,000
      Current use
      COMMERCIAL (GENERAL)
      $7,185,000
      Change: +52% Conversion: Easy
      MEDICAL BUILDING
      $5,320,000
      Change: +12% Conversion: Difficult
      RETAIL STORES
      $5,215,000
      Change: +10% Conversion: Easy
      OFFICE BUILDING
      $4,030,000
      Change: -15% Conversion: Moderate
      INDUSTRIAL (GENERAL)
      $3,900,000
      Change: -18% Conversion: Difficult

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

    Location Insight

    • Map
    • Local Demand
    City
    Fort Myers
    County
    Lee
    State
    Florida
    Longitude
    -81.8739
    Latitude
    26.5941
    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
    $315,244
    $7,422,091
    $9,075,180
    $16,497,271
    -
    $7,422,091
    $9,075,180
    $16,497,271

    Comparable in this City

    • Value Estimation
      $5,665,000
      36,479 SF

      5100 Cleveland Ave

      MINI-MALL • 36,479 SF
      5100 Cleveland Ave, Fort Myers, FL 33907-2189
      View Details
    • Value Estimation
      $10,975,000
      100,002 SF

      7191 Cypress Lk Dr

      MINI-MALL • 100,002 SF
      7191 Cypress Lk Dr, Fort Myers, FL 33907-6501
      View Details
    • Value Estimation
      $13,450,000
      49,771 SF

      7070 College Pkwy

      MINI-MALL • 49,771 SF
      7070 College Pkwy, Fort Myers, FL 33907-5600
      View Details
    • Value Estimation
      $2,575,000
      6,755 SF

      11150 Cleveland Ave

      MINI-MALL • 6,755 SF
      11150 Cleveland Ave, Fort Myers, FL 33907-2361
      View Details
    • Value Estimation
      $15,430,000
      83,448 SF

      4945 Cleveland Ave, Unit 5049

      MINI-MALL • 83,448 SF
      4945 Cleveland Ave, Fort Myers, FL 33907-1399
      View Details
    • Value Estimation
      $1,460,000
      7,288 SF

      7101 Cypress Lk Dr

      MINI-MALL • 7,288 SF
      7101 Cypress Lk Dr, Fort Myers, FL 33907-6523
      View Details

    Similar Nearby for Sale

    • Contact for pricing
      28,600 SF

      Fort Myers Entertainment Property

      2.33 acre entertainment property in South Fort Myers.
      1901 Crystal Dr, Fort Myers, FL 33907
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    • $3,300,000

      Retail Building on US 41

      Retail building with two entrances on US 41.
      4805 S Cleveland Ave, Fort Myers, FL 33907
      View Details
    • $3,300,000
      8,100 SF

      Prime Fort Myers Retail Investment

      High-Visibility Retail Space, Value-Add Opportunity
      4805 Cleveland Ave, Fort Myers, FL 33907
      View Details
    • Contact for pricing
      1.58 Acres

      Fort Myers Restaurant Space Sublease

      Prime restaurant space for sublease in a bustling retail district.
      12148 S Cleveland Ave, Fort Myers, FL 33907
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    • New
      $154,500
      10,800 SF

      Auto Body Shop Business

      Fully equipped auto body repair shop business for sale.
      1901 Dana Dr, Fort Myers, FL 33907
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    • $415,000
      0.13 Acres

      Income-Producing Duplex in Central Location

      Fully rented duplex in Fort Myers, generating $44,000 yearly.
      5632 10Th Ave, Fort Myers, FL 33907
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    Similar Nearby for Lease

    • Contact for pricing
      3,980 SF

      Lifestyle Shopping Center Retail Space

      Retail spaces available in a newly renovated shopping center.
      13499 S Cleveland Ave, Fort Myers, FL 33907
      View Details
    • $16 SF/Yr
      6,791 SF

      Retail Space in Fort Myers

      High-traffic location with ample parking and diverse co-tenants.
      1901 Brantley Rd, Fort Myers, FL 33907
      View Details
    • Contact for pricing
      31,800 SF

      Retail Space in Fort Myers

      Retail space available in a busy Fort Myers shopping center.
      2150 Colonial Blvd, Fort Myers, FL 33907
      View Details
    • Contact for pricing
      2,400 SF

      Retail Space on S Cleveland

      Retail space available with frontage on S Cleveland Avenue.
      11609 S Cleveland Ave, Fort Myers, FL 33907
      View Details
    • $25 SF/Yr
      14,560 SF

      South Fort Myers Retail Center

      High-traffic retail space available.
      12575 Cleveland Ave, Fort Myers, FL 33907
      View Details
    • Contact for pricing
      6,032 SF

      Retail Opportunities on US 41

      Retail spaces available along Fort Myers' main commercial artery.
      5301 S Cleveland Ave, Fort Myers, FL 33907
      View Details
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    Fort Myers, FL 33907-1316
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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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