13240 Cleveland AveNorth Fort Myers, FL 33903

Property Details for 13240 Cleveland Ave

Year built

1979

Construction

MASONRY/CONCRETE MASONRY UNITS (CMUS)

Lot size

2.25 AC

Property size (Sq ft)

14,020 SF

Zone code

CC

Property type

Office buildings

APN

11-44-24-00-00017.4B40

APU

11442400000174B40

Description

This single-story, 14,000-square-foot commercial plaza, located at 13240 N Cleveland Ave in North Fort Myers, Florida, presents a unique investment opportunity. Built in 1979 and renovated in 2018, the property boasts 12 suites, with one suite currently vacant at 1,200 square feet, offering a minimum divisible space of 1,200 square feet and a maximum contiguous space of 1,200 square feet. Situated on a 2.25-acre lot, this Class C building benefits from a C-1A zoning designation. The property enjoys high visibility on N. Cleveland Avenue, a major thoroughfare with over 53,000 vehicles passing daily, providing excellent exposure for businesses. Its location just north of the Caloosahatchee River, close to downtown Fort Myers and the central business district, ensures convenient access to a large customer base. The average household income within a two-mile radius exceeds $60,000 annually, indicating strong consumer spending power. The property is ideal for various uses, including medical offices, retail establishments, adult day care centers, hair salons, or general professional practices. Pylon and building signage opportunities further enhance visibility and marketing potential. This prime location within an active retail corridor, featuring both national and local tenants, makes this a compelling investment prospect in a thriving market. The zip code is 33903.

• CAP approach

  CAP return

  Valuation

  6%

  $3,718,947

  6.5%

  $3,432,874

  7%

  $3,187,669

• Comparable approach

  Method

  Valuation

  Relative Method

  $2,812,546

  Geo Method

  $2,560,472

• Alternative Use

  Use

  Valuation

  Residential

  $4,256,764

  Hospitality

  $3,899,173

  Educational

  $3,244,066

  Medical

  $3,355,635

  Retail

  $5,046,326

Location Insight

City

North Fort Myers

County

Lee

State

Florida

Latitude

26.6617

Longitude

-81.8837

CBSA code

15980

CBSA name

CAPE CORAL-FORT MYERS, FL METROPOLITAN STATISTICAL AREA

Property Tax & Assessments

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