$5,900,000
4434-4458 Cleveland Ave Fort Myers, FL 33901
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$5,900,000
Est. payment /mo
22,038 SqFt
Price Dropped by $400K
4434-4458 Cleveland Ave Fort Myers, FL 33901
UPDATED:
11/20/2024 10:10 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 2.1-acre 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
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