Joey Agree Of Agree Realty Purchases Retail Asset In Fort Myers From David M. McDonald For $3.925M
4797 South Cleveland Avenue
$3,925,000
$175/SF
Building Size
22,320 SF
Asset Type
Retail
Closing
Sep 18, 2025
AI
The retail asset located at 4797 South Cleveland Avenue in Fort Myers has been sold for $3,925,000. This property spans 22,320 square feet, equating to a price per square foot of $175.
Summary of transaction details:
- Property Type: Retail
- Transaction Amount: $3,925,000
- Buyer: Joey Agree - Agree Realty
- Seller: David M. McDonald
- Brokers: Raul Pino, Kevin Perez & Pablo Vignolo - The Hype Real Estate Group
Raul Pino, Kevin Perez, and Pablo Vignolo represented both the seller and the buyer in this transaction. The Hype Real Estate Group successfully facilitated a seamless closing process, showcasing their ongoing dominance in the industrial and retail sectors across multiple states, including Florida, Georgia, North Carolina, Virginia, and the Northeast.
Players
Fort Myers Retail Market Snapshot
Boundary boundary · Retail · Sale transactions
Loading comparables…
Purchase Price
Annual NOI
Loan Amount
Interest Rate (%)
Loan Term (yrs)
Down Payment (%)
Cap Rate
4.04%
Cash-on-Cash
-1.16%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93