NNN Retail Shopping Center | 4434-4458 S Cleveland Ave
This feature is unavailable at the moment.
We apologize, but the feature you are trying to access is currently unavailable. We are aware of this issue and our team is working hard to resolve the matter.
Please check back in a few minutes. We apologize for the inconvenience.
- LoopNet Team
thank you
Your email has been sent!
NNN Retail Shopping Center 4434-4458 S Cleveland Ave
22,038 SF 100% Leased Retail Building Fort Myers, FL 33901 $5,900,000 ($268/SF) 7% Cap Rate
Investment Highlights
- $1.1M in Recent Capital Improvements
- On Cleveland Ave/Hwy US-41
- Surrounded by National Retail Tenants (Hooters, Wawa, Krispy Kreme, BestBuy, etc.)
- Across from Edison Mall
- Signalized Hard Corner Intersection
Executive Summary
APEX Capital Realty is proud to present an exceptional opportunity to acquire a newly renovated neighborhood shopping center located in a prime commercial area of Fort Myers. This property features 3 standalone multi-tenant buildings, totaling 22,038 RSF, situated on an expansive 2.1acre lot across from the popular Edison Mall. The property is strategically positioned on a hard corner along Cleveland Ave/Hwy US-41, in one of the busiest sub-markets of Fort Myers. This investment opportunity features 87% occupancy with 11 tenants and 2 vacancies, all on NNN lease agreements. The current NOI is $411K, and recent capital improvements totaling $1.1M include a new roof, structural repairs, parking lot resurfacing, landscaping enhancements, upgraded lighting, common area updates, new HVAC systems, and more. Below-market lease rates represent the potential for increased income.
Financial Summary (Actual - 2023) |
Annual | Annual Per SF |
|---|---|---|
| Gross Rental Income |
-
|
-
|
| Other Income |
-
|
-
|
| Vacancy Loss |
-
|
-
|
| Effective Gross Income |
-
|
-
|
| Net Operating Income |
$411,438
|
$39.04
|
Financial Summary (Actual - 2023)
| Gross Rental Income | |
|---|---|
| Annual | - |
| Annual Per SF | - |
| Other Income | |
|---|---|
| Annual | - |
| Annual Per SF | - |
| Vacancy Loss | |
|---|---|
| Annual | - |
| Annual Per SF | - |
| Effective Gross Income | |
|---|---|
| Annual | - |
| Annual Per SF | - |
| Net Operating Income | |
|---|---|
| Annual | $411,438 |
| Annual Per SF | $39.04 |
Property Facts
Sale Type
Investment
Property Type
Retail
Property Subtype
Freestanding
Building Size
22,038 SF
Building Class
C
Year Built
1974
Price
$5,900,000
Price Per SF
$268
Cap Rate
7%
NOI
$413,000
Percent Leased
100%
Tenancy
Multiple
Building Height
1 Story
Slab To Slab
9’
Building FAR
0.24
Lot Size
2.10 AC
Zoning
CI - Commercial Intensive
Parking
47 Spaces (4.46 Spaces per 1,000 SF Leased)
Frontage
132 FT on Cleveland Avenue
Nearby Major Retailers
PROPERTY TAXES
| Parcel Number | 35-44-24-P3-00073.0000 | Improvements Assessment | $0 (2024) |
| Land Assessment | $0 (2024) | Total Assessment | $4,037,504 (2024) |
PROPERTY TAXES
Parcel Number
35-44-24-P3-00073.0000
Land Assessment
$0 (2024)
Improvements Assessment
$0 (2024)
Total Assessment
$4,037,504 (2024)
1 of 12
VIDEOS
3D TOUR
PHOTOS
STREET VIEW
STREET
MAP
Presented by
NNN Retail Shopping Center | 4434-4458 S Cleveland Ave
Already a member? Log In
Hmm, there seems to have been an error sending your message. Please try again.
Thanks! Your message was sent.