11
See all 11 photos
$5,900,000
Est. payment /mo
22,038 SqFt
Price Dropped by $400K
4434-4458 Cleveland Ave Fort Myers, FL 33901
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UPDATED:
11/22/2024 02:37 PM
Key Details
Property Type Commercial
Sub Type Retail
Listing Status Active
Purchase Type For Sale
Square Footage 22,038 sqft
Price per Sqft $267
MLS Listing ID A11673388
HOA Y/N No
Year Built 1973
Lot Size 2.101 Acres
Property Description
We're 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. 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.
Location
State FL
County Lee
Area 5940 Florida Other
Others
Tax ID 10184749
Listed by APEX Capital Realty LLC
Learn More About LPT Realty