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

    4760 Cleveland Ave Fort Myers, FL 33907-1311

    • Hotels
    • 20,905 SF
    • 4.94 lot acres
    OFF-MARKET
    Last Sale
    Oct 02, 2023
    $8,500,000
    Value Estimations
    Cap Rate Potential
    Location Intelligence
    Property ID
    US19-0612864
    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

    • Travelodge by Wyndham Fort Myers / Hotel & Motel
    • Rodeway Inn / Hotel & Motel

    Property Details for 4760 Cleveland Ave

    Year built
    1984
    Construction
    MASONRY/CONCRETE MASONRY UNITS (CMUS)
    Lot size
    4.94 lot acres
    Property size
    20,905 SF
    Zone code
    CI
    Property type
    Hotels
    Property subtype
    Motels
    APN
    02-45-24-P2-00600.0020
    APU
    024524P2006000020

    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
    -81.8732
    Latitude
    26.5924
    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
    $128,678
    $2,828,779
    $3,231,146
    $6,059,925
    -
    $2,828,779
    $3,231,146
    $6,059,925

    Comparable in this City

    • Value Estimation
      $1,415,000
      22,932 SF

      4811 Cleveland Ave

      HOTEL/MOTEL • 22,932 SF
      4811 Cleveland Ave, Fort Myers, FL 33907-1319
      View Details
    • Value Estimation
      $1,415,000
      21,300 SF

      7071 Lakeridge Ct

      HOTEL/MOTEL • 21,300 SF
      7071 Lakeridge Ct, Fort Myers, FL 33907-8630
      View Details
    • Value Estimation
      $3,665,000
      42,621 SF

      13051 Bell Tower Dr

      HOTEL/MOTEL • 42,621 SF
      13051 Bell Tower Dr, Fort Myers, FL 33907-5927
      View Details
    • Value Estimation
      $925,000
      9,900 SF

      2717 Colonial Blvd

      HOTEL/MOTEL • 9,900 SF
      2717 Colonial Blvd, Fort Myers, FL 33907-1600
      View Details
    • Value Estimation
      $2,225,000
      18,101 SF

      12600 University Dr

      HOTEL/MOTEL • 18,101 SF
      12600 University Dr, Fort Myers, FL 33907-5670
      View Details
    • Value Estimation
      $4,910,000
      360 SF

      11435 Cleveland Ave

      HOTEL/MOTEL • 360 SF
      11435 Cleveland Ave, Fort Myers, FL 33907-2343
      View Details

    Similar Nearby for Sale

    • $3,300,000
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      Prime Fort Myers Retail Investment

      High-Visibility Retail Space, Value-Add Opportunity
      4805 Cleveland Ave, Fort Myers, FL 33907
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    • $3,300,000

      Retail Building on US 41

      Retail building with two entrances on US 41.
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      Fort Myers Land with Homes

      0.75 acres in Fort Myers with two existing homes.
      7086 Maida Ln, Fort Myers, FL 33907
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    • $1,600,000

      Commercial Land Near US-41

      Centrally located commercial land with C1 zoning and easy access.
      7051 Lakeridge Ct, Fort Myers, FL 33907
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    • $749,900
      0.80 Acres

      Commercial Lot Near US-41

      Prime commercial land near US-41 and College Pkwy.
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    Similar Nearby for Lease

    • Contact for pricing
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      Prime Fort Myers office space available.
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      View Details
    • $13 SF/Yr
      44,779 SF

      Fort Myers Office Building For Lease

      Single-story, 44,779 SF office building
      2160 Colonial Blvd, Fort Myers, FL 33907
      View Details
    • $1,500 /Mo
      29,142 SF

      Fort Myers Retail Space Available

      Retail space available in Fort Myers, Florida.
      12771 Kenwood Ln, Fort Myers, FL 33907
      View Details
    • $2,100,000

      Land with Frontage on Summerlin

      Commercial land for rent with high visibility and multiple access.
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    • $24 SF/Yr
      2,999 SF

      Office Space For Rent

      Office space available for lease in Fort Myers, Florida.
      12520 World Plaza Ln, 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

    Property Visit Statistics

    • Visits by month
      4.8k
    • Visitors by month
      157
    • Avg Time on site
      793 min
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    4760 Cleveland Ave
    Fort Myers, FL 33907-1311
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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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