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Regency Square 4434-4458 S Cleveland Ave 22,170 SF 100% Leased Retail Building Fort Myers, FL 33901 $5,500,000 ($248.08/SF)
Investment Highlights
- 9.7% NNN cap rate, stabilized NOI with immediate cash flow
- CRA Redevelopment area provides built-in upside and future CapEx expenditure support
- 100% leased to 13 diversified NNN tenants on 2.1 acres high traffic, signalized corner
Executive Summary
Retail | 9.70% CAP | 22,170 SqFt
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 façades, 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.
Investment highlights:
- 9.7% cap rate, stabilized 2025 NOI with immediate cash flow
- 100% leased to 13 diversified NNN tenants
- 22,170 SF on 2.1 acres of CI-zoned land at signalized hard corner directly across from Edison Mall with 96,000+ AADT
Long-term leases with built-in escalations + below-market rents in a true triple-net structure — strong organic growth and minimal landlord responsibility
CRA Redevelopment area provides built-in upside and future CapEx expenditure support
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 façades, 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.
Investment highlights:
- 9.7% cap rate, stabilized 2025 NOI with immediate cash flow
- 100% leased to 13 diversified NNN tenants
- 22,170 SF on 2.1 acres of CI-zoned land at signalized hard corner directly across from Edison Mall with 96,000+ AADT
Long-term leases with built-in escalations + below-market rents in a true triple-net structure — strong organic growth and minimal landlord responsibility
CRA Redevelopment area provides built-in upside and future CapEx expenditure support
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Property Facts
Sale Type
Investment NNN
Property Type
Retail
Property Subtype
Freestanding
Building Size
22,170 SF
Building Class
C
Year Built/Renovated
1974/2024
Price
$5,500,000
Price Per SF
$248.08
Percent Leased
100%
Tenancy
Multiple
Building Height
1 Story
Slab To Slab
9’
Building FAR
0.24
Lot Size
2.10 AC
Zoning
CI - Commercial Intensive
Parking
47 Spaces (2.12 Spaces per 1,000 SF Leased)
Frontage
132’ on Cleveland Avenue
Moderately walkable
60/100
Exceptionally drivable
100/100
Limited public transit
30/100
Fairly bikeable
40/100
Nearby Major Retailers
Property Taxes
| Parcel Number | 35-44-24-P3-00073.0000 | Improvements Assessment | $2,966,819 |
| Land Assessment | $960,960 | Total Assessment | $4,286,986 |
Property Taxes
Parcel Number
35-44-24-P3-00073.0000
Land Assessment
$960,960
Improvements Assessment
$2,966,819
Total Assessment
$4,286,986
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Regency Square | 4434-4458 S Cleveland Ave
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