4434-4458 Cleveland Ave, Fort Myers, FL 33901
sale
$5,500,000
|
Retail
Courtesy Of Realty One Group MVP
100% Leased NNN Retail Center - Fort Myers, FL $5,500,000 | ~9.7% Cap Rate | Stabilized NOI. Renovated, turn-key multi-tenant shopping center offering immediate cash flow and built-in upside. 22,170 SF on 2.1 acres (CI zoning) at signalized corner of Cleveland Ave & Colonial Blvd - directly across from Edison Mall. 100% occupied by 13 NNN tenants (diversified: restaurants, salons, retail, services) - zero vacancy exposure. Long-term leases with annual escalations + below-market rents = strong NOI growth potential. Surrounded by nationals (Wawa, Starbucks, Hooters, Best Buy) in high-traffic SWFL corridor. Triple-net structure = tenants handle taxes/insurance/maintenance - true passive income play. Perfect for 1031 buyers or capital seeking high-yield Florida retail.Cleveland Avenue Redevelopment Area :The property is located in the heart of the City of Fort Myers' Cleveland Avenue Redevelopment Area, an active Community Redevelopment Agency (CRA) district spanning 614 acres along the US-41 corridor. Under the adopted 2025 Redevelopment Plan, the CRA is investing millions in streetscape improvements, placemaking, and infrastructure upgrades while offering property owners powerful incentives including up to 75% matching grants for facades, parking lots, lighting, landscaping, and signage, plus TIF funding, stormwater credits, and tax benefits. This ongoing public-private investment directly enhances visibility, tenant demand, and long-term property values along this high-traffic gateway - providing built-in upside and future capital-expenditure support for stabilized assets like Regency Square Retail Center.
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Property Features
- Age: Over 50 Years Old
- Floors: 1
- Legal Description: PARL IN SE 1/4 OF SE 1/4 DESC IN OR 1489 PG 1805 LESS OR 2992/3683
- MLSID: 226012610
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