Collier Realty and Management
Listed by Collier Realty and Management
$3,300,000
Cleveland Avenue
Details
APN 01-45-24-P1-00300.0001
Property Type Retail, Hospitality
Sub Type Bar, Day Care/Nursery
Square Footage 8,100
Net Rentable (SqFt) 8,100
Units 2
Cap Rate 5.18%
NOI $40,000
Occupancy 16%
Tenancy Multi
Lease Type NNN
Lease Term 15
Lease Expiration 02/27/2027
Remaining Term 0.7
Rent Bumps Yes
Lease Options 1
Pro-Forma Cap Rate 5.18%
Pro-Forma NOI $170,800
Price per SqFt $407
Broker Co-Op Yes
Class B
Year Built 1973
Year Renovated 4
Buildings 1
Stories 1
Lot Size (SqFt) 26,057
Zoning commercial
Investment Type Value Add
Lease Commencement 02/29/2012
Occupancy Date 09/04/2024
Ground Lease No
US 41 Frontage in Fort Myers Southwest Florida
Marketing description
Located on directly on US 41/Cleveland and fully leased with plus doubled sided billboard income. The Auto Inn took occupancy in January 2025. This location offers easy access to Downtown Fort and Cape Coral via Colonial Blvd. This property has gone under recent improvements with a new roof in 2024 and freshly painted exterior and resealed parking lot. Located inside the City of Fort Myers and gives great opportunity for grants for additional improvements or upgrades by both the Landlord and Tenant.
Investment highlights
- Redevolpment potential
Listing Contacts
Collier Realty and Management
Listed by Collier Realty and Management
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Loan Amount
$0.00
Annual Debt Service
$--
$--
Annual Cash Flow
$40,000.00
$3,333.33/mo
Valuation Metrics
0
DSCR
1.21%
Cap Rate
1.21%
ROI
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