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Last updated on June 24th, 2018

46,000 SF Landmark Office Building

$9,500,000

13099 S. Cleveland Avenue, Fort Myers, Florida 33907


Building Size46,378 Square Feet
Land Size2.35 Acres
ZoningC1
Parking3.6/1000
Wateryes
Seweryes
Electricyes
Year Built1990
ConstructionCBS
Roof2017
Traffic Count70,500

On behalf of the building Owner, Birch Properties Florida, Inc., as exclusive agent, is pleased to offer for sale The Bank of America Building, a 5 story, Class A, office building located at 13099 S. Cleveland Avenue in Fort Myers, Florida. The property supports a 46,378 square foot building leased to a diverse group of tenants anchored by Bank of America.

The office building is strategically located in the Bell Tower Shops retail center at US 41 and Daniels Parkway in South Fort Myers. The building’s unique architectural style has contributed to its designation as a Lee County landmark. The area surrounding the building is home to one of Lee County’s busiest retail and lifestyle hubs, which includes high end shopping, restaurants, and businesses. The South Fort Myers submarket is characterized by a high-income demographic that has attracted national retail tenants including Target, Barnes & Noble, Bed Bath & Beyond, Fresh Market, Costco, Total Wine, DSW Shoes, Staples, Bealls, Ross, HomeGoods, and T.J. Maxx to name a few. The building is leased to several high-quality companies including Bank of America, Scripps, Refresh Mental Health, Conduent and TLC Engineering, which provide notable synergy in the building. The above attributes make this building very attractive to current and prospective tenants, who are interested in attracting and retaining the best talent.

The property enjoys impressive exposure with over 567 feet on South Cleveland Avenue and includes two signalized intersections, one on the north and one on the south side of the property. Additionally, the site is surrounded by roadways on all four sides affording it exceptional access from every direction. Located just north of Daniels Parkway on S. Cleveland Avenue (US 41), the building enjoys traffic counts of more than 70,500 cars per day. The building was constructed in 1990 and renovated in 2015 and 2016. Improvements included new restrooms, updated hallway corridors, renovated elevators, exterior painting, sealing, and a new roof that includes a 20-year warranty from Johns Manville. The building includes two high-speed elevators and is serviced by 46 individual air-conditioning systems that provide above average control of temperature and power costs. Bank of America has two drive up ATM’s and one ATM located in the first floor bank lobby. The site consists of approximately 2.35 acres with ample parking at a ratio of 3.6 spaces per thousand square feet. The property is zoned C1 commercial.

The current net operating income is estimated at $635,258 at the occupancy of 82%. The projected net operating income at 95% occupancy is approximately $731,482. The gross building area is 46,378 SF with a net rentable area of 43,868 SF. The asking price is $9,500,000 ($205 per square foot


The information contained herein is from sources deemed reliable, but is subject to errors, omissions, and withdrawal without notice.

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