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3110-3134 S Cleveland Ave, Fort Myers, FL, 33901

CITY CENTER 41
Closed

Key Information

Tot. SF
30,767
Year Built
1962/ R 2023
Type
Shopping Centers
Occupancy
100%

Highlights

Stable in-place income with long-term tenancy

  • 100% occupied center with four tenants, including national brand Dollar General and medical anchor Lee Memorial Health Systems, both of which have been in place for over a decade
  • Tenants have been at the property an average of 11 years, demonstrating strong location loyalty and consistent performance
  • Most tenants have 5-year renewal options in place, supporting continued occupancy and minimizing near-term rollover risk
  • New roof was installed in 2023

Below-market rents with future upside

  • In-place rents average $10.23 PSF, significantly below surrounding market rents, which exceed $20 PSF NNN
  • Although renewal options are in place, the center presents longer-term mark-to-market potential as leases naturally expire
  • Offers a predictable income stream today with built-in upside over the investment horizon

Attractive lease structure

  • 75% of the GLA is leased on NNN terms, reducing landlord responsibilities and driving strong net cash flow

Prime Fort Myers retail corridor

  • Excellent visibility and access along N Cleveland Ave (US-41) with ±51,000 vehicles per day
  • Surrounded by top national retailers including Publix, Walmart, CVS, McDonald’s, and Planet Fitness, drawing consistent consumer traffic
  • Less than 5 miles from Downtown Fort Myers, Lee Memorial Hospital, and key residential neighborhoods

Included land offers future flexibility

  • Sale includes the rear parcel behind the shopping center, offering investors optionality for future development, expansion, or strategic repositioning

Photos

Location

Agents

Broker of Record

Kyle Matthews

License # CQ1066435 (FL)
Matthews Real Estate Investment Services, Inc
1600 West End, Ste. 1500 Nashville, TN 37203