4434-4458 Cleveland Ave

For Sale

4434-4458 CLEVELAND AVE

4434-4458 Cleveland Ave NNN Retail Shopping Center

City:Fort Myers

Land area:91,520 SF

Property Status: For Sale

Danilo Aquino danilo@apexcapitalrealty.com

Price $5,900,000

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Property Summary

Year Built: 1973

Property Type: Shopping Center

No. of Tenants: 11 Tenants on (NNN) Leases

Total NOI: $411,438.37

Pro-forma NOI: $511,579.80

Occupancy: 78%

Cap Rate: 7%

Description 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 2.1- acre 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.

Lot & Building Size Breakdown:

Lot Square SF: 91,520 SF

Building SF: 22,038 SF (3 Buildings)

Property Highlights

$1.1M in Recent Capital Improvements

Across from Edison Mall

On Cleveland Ave/Hwy US-41

Signalized Hard Corner Intersection

Surrounded by National Retail Tenants (Hooters, Wawa, Krispy Kreme, BestBuy, etc.)

Details Property size: 22,038 SF Property Status: For Sale Property Type: Retail Land Area: 91,520 SF Year Built: 1973

Address City: Fort Myers State/country: Florida

Documents Regency Center - 4434 - 4458 Cleveland Ave download

Listing Agents

Danilo Aquino Commercial Advisor

(786) 201-3020 danilo@apexcapitalrealty.com

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4434-4458 Cleveland Ave NNN Retail Shopping Center Retail Danilo Aquino 2 months ago $5,900,000