15201 Cleveland AveFort Myers, FL 33903

Property Details for 15201 Cleveland Ave

Year built

1993

Construction

STEEL FRAME

Lot size

21.43 AC

Property size (Sq ft)

5,916 SF

Zone code

CPD

Property type

Retail properties

Property subtype

Community centers

APN

34-43-24-L4-04000.0020

APU

344324L4040000020

Description

Merchants Crossing offers a fantastic retail opportunity in the thriving North Fort Myers, FL market. This 833 square foot space is located within a larger 194,427 square foot strip center at the highly visible intersection of N. Cleveland Avenue and Pine Island Road in Lee County. The property boasts a diverse mix of established and successful anchor tenants, including AMC Theaters, Dollar General, Bealls Outlet/Home Centric, Jo-ann Fabrics, Applebee's, Planet Fitness, and Home Depot, ensuring high foot traffic and strong consumer demographics. This space is immediately available, offering a minimum divisible space of 833 square feet, with a maximum contiguous space also at 833 square feet. A significant advantage is the proximity to a new, under-construction 280-unit residential development, comprising four buildings with amenities such as a private clubhouse, pool cabana, and dog park. This development is slated for completion with two buildings ready for occupancy by January 2025, promising a substantial increase in potential customers for the retail space. The property's strategic location and the addition of new residential units create a compelling investment opportunity with significant growth potential. This space is perfect for a variety of retail uses and represents a rare chance to establish a business in a high-demand area.

• CAP approach

  CAP return

  Valuation

  6%

  $2,306,840

  6.5%

  $2,129,391

  7%

  $1,977,292

• Comparable approach

  Method

  Valuation

  Relative Method

  $2,990,752

  Geo Method

  $2,722,706

• Alternative Use

  Use

  Valuation

  Residential

  $1,796,221

  Hospitality

  $1,645,329

  Educational

  $1,368,894

  Medical

  $1,415,972

  Retail

  $2,129,391

Location Insight

City

North Fort Myers

County

Lee

State

Florida

Latitude

26.6851

Longitude

-81.9033

CBSA code

15980

CBSA name

CAPE CORAL-FORT MYERS, FL METROPOLITAN STATISTICAL AREA

Property Tax & Assessments

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