4434-4458 S Cleveland Ave - Freestanding FOR SALE


Fort Myers, FL 33901- Page Park
$5,700,000 USD
786-201-3020
4434-4458 S Cleveland Ave, Fort Myers, FL for Sale
$5,700,000 USD
Freestanding - FOR SALE
1/11
null | 7.62% Cap Rate

4434-4458 S Cleveland Ave
Fort Myers, FL 33901
Page Park


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.)

OVERVIEW

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 $434K, 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.

FOR SALE DETAILS

PRICE

$5,700,000 USD

PRICE/SF

$259 USD /SF

CAP RATE

7.62%

% LEASED

-

TENANCY

Multiple

SALE TYPE

Investment

BUILDING DETAILS

PROPERTY NAME

NNN Retail Shopping Center

PROPERTY TYPE

Retail

PROPERTY SUBTYPE

Freestanding

TOTAL BUILDING SIZE

-

STORIES

1

YEAR BUILT

1974

SPRINKLERS

-

PARKING SPACES

47

LAND DETAILS

LAND ACRES

2.1 AC

LAND SF

91,476 SF

ZONING

CI

APN/PARCEL ID

35-44-24-P3-00073.0000

ASK ABOUT THIS PROPERTY

Danilo AquinoApex Capital Realty LLCMore Info
786-201-3020

By clicking the button, you agree to Showcase's Terms of Use and Privacy Policy.

Danilo AquinoApex Capital Realty LLCMore Info
786-201-3020

By clicking the button, you agree to Showcase's Terms of Use and Privacy Policy.