4904 Cleveland Ave Fort Myers, FL 33907-1323
Property profile & analytics
4904 Cleveland Ave, Fort Myers, FL 33907-1323
- Drive through restaurants
- 3,242 SF
- 1.10 lot acres
Property ID
US18-8403786
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.
Location Intelligence
Current Use by Public Records
- Krispy Kreme / Bakery / Discount Store
Property Details for 4904 Cleveland Ave
- Year built
- 2018
- Construction
- MASONRY/CONCRETE MASONRY UNITS (CMUS)
- Lot size
- 1.10 lot acres
- Zone code
- C1
- Property type
- Drive through restaurants
- APN
- 02-45-24-P3-32000.0010
- APU
- 024524P3320000010
Description
Exceptional investment opportunity: A fee-simple ownership of a 3,227 square-foot Krispy Kreme located at 4904 S Cleveland Ave, Fort Myers, FL 33907, presents a compelling opportunity for investors seeking stable, long-term income. This Class A retail property, built in 2018, boasts a 20-year absolute NNN lease with a corporate guarantee from Krispy Kreme Doughnut Corporation, commencing January 18, 2021, and expiring January 17, 2041. With over 16 years remaining on the lease term, the property offers significant remaining lease term and predictable cash flow. The lease includes four 5-year renewal options and built-in rent bumps of 10% in 2031 and 2036. The property sits on a 1.1-acre lot and generates a Net Operating Income (NOI) of $216,300, representing a 4.75% cap rate. The asking price is $4,550,000, translating to $1,409.98 per square foot. This high-performing location, ranking second in customer visits among Gulf Coast Krispy Kreme stores, benefits from high visibility on S Cleveland Ave, with a daily traffic count exceeding 53,000 vehicles. The property is situated in a desirable submarket with an average household income of $81,736 within a 3-mile radius. This investment offers a rare combination of a strong tenant, a long-term lease, and a prime location in a thriving market. The property is 100% occupied and suitable for a 1031 exchange.
Value Estimations
based on Realmo’s proprietary methodology
-
AI approach
- Method
- Estimation
- Statistic approach
- $3,115,000
- ML approach
- $3,345,000
-
Comparable approach
- Method
- Estimation
- Statistic Estimate
- $2,309,000
Market price range: $707k - $3.11M -
Alternative Use
- Use
- Estimation
- AUTO REPAIR, GARAGE
- $2,370,000
Get a detailed, property-specific estimation — fast and free
Location Insight
- Map
- Local Demand
- City
- Fort Myers
- County
- Lee
- State
- Florida
- Longitude
- -81.8726
- Latitude
- 26.5896
- 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
$29,875
$904,520
$704,027
$1,608,547
-
$904,520
$704,027
$1,608,547
