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    862 Lafayette St Cape Coral, FL 33904

    View on Map
    Sponsored
    For Sale
    $3,000,000

    COMMERCIAL - Cape Coral, FL

    Type:Office
    Property size:
    17,500 SF
    Lot size:
    0.90 Acres
    Days on Market:
    36
    Last Refresh:
    Mar 18 at 7:06 pm

    Property Features for 862 Lafayette St

    General Information

    Property type
    Commercial Sale
    Property subtype
    Office
    Standard status
    Active
    APN
    18-45-24-C1-00052.0590
    Size
    17,500 SF
    Lot size
    0.90 Acres

    Building Details

    Year built
    2002
    Floors in Building
    2

    We can help!

    Listing Contact
    Daryl Simms

    Lee Island Coast Real Estate, Inc (239) 989-0111

    Listing agent Daryl Simms (239) 202-1801 License #258026217

    Listing date Feb 10, 2026

    MLS# 225058810

    Copyright © 2026 Florida Gulf Coast Multiple Listing Service, Inc. All rights reserved. All information provided by the listing agent/broker is deemed reliable but is not guaranteed and should be independently verified.

    Learn more

    Property Insight Report

    Overview

    Cape Coral Commercial Opportunity

    Located in downtown Cape Coral, this two-story commercial building offers a substantial opportunity for various business ventures. The property, previously operated as Paesano's for over 30 years, is situated within the South Cape Zoning District, the C.R.A, and The South Cape Hospitality & Entertainment Area. The listing includes 862 Lafayette St., which comprises the building and some parking, as well as 859 Miramar St. for additional off-street entrance and parking from the south. The building, with over 17,500 square feet, is located one block south of Cape Coral Parkway and one block east of Coronado Parkway. It features six walk-in coolers, three walk-in freezers, two commercial kitchens, a butcher room, and phase-3 power. A significant amount of FFE is available on-premise for potential sale. The property includes multiple restrooms, and the second-floor office has a small balcony overlooking the main shopping area floor, which features a soaring ceiling. The patio seating area includes a kitchen setup and is a large screened area with power shutters. The location is near new apartment complexes, including "The Cove On 47th" with 327 units and "Madison Square" with 82 units. Two upcoming projects, the CRA Project, Bimini Basin East, and a private project, Bimini Square, which will offer 218 additional upscale apartments and a 500-space parking garage, are expected to positively impact the location.
    Property Profile Insight Report Location Intelligence

    Current Use by Public Records

    Retail space

    Suggested Use

    Law Firm Restaurant Dental Office Real Estate Agency Spa & Massage Center Hair Salon Nail Salon Food Market Grocery & Convenience Store Daycare Center

    Zoning and permitted uses should be independently verified with local authorities.

    Similar Places Nearby

    Catering By Jack & Michael, Red Roc Cravings, Taco Works

    Location Insight

    • Map
    • Local Demand
    City
    Cape Coral
    County
    Lee
    State
    Florida
    Longitude
    -81.955022
    Latitude
    26.561487

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    FAQs

    What type of property is this?
    Restaurant - Two-story building in downtown Cape Coral with ample parking.
    Where is this restaurant located?
    The property is located at 862 Lafayette St Cape Coral, FL.
    What is the asking price?
    The asking price for this property is $3,000,000.
    What are key features of this property?
    This property features: - Prime Downtown Cape Coral location in a vibrant district.; - High-traffic location, boosted by over 400 new nearby apartment units.; - Significant future development projects are planned nearby.
    (239) 202-1801
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    862 Lafayette St Cape Coral, FL 33904
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    Realmo Value Estimations

    Realmo estimates a property’s market value using a proprietary methodology that incorporates public data and user-submitted information. This cumulative value is generated by integrating a variety of conventional and innovative methods. 

    Disclaimer

    These figures are not official appraisals and should not be used as a substitute for a valuation performed by a licensed appraiser.
    Actual market value may differ due to factors not captured in the data. Estimates are offered for informational purposes only, and users should conduct independent research before making financial or investment decisions.
    By using this feature, you acknowledge that Realmo is not responsible for actions taken based on these estimates.

    AI approach

    Realmo AI Method estimates property value using machine learning models trained on millions of comparable listings, transactions, and market signals. It analyzes property features, location intelligence data, and current market dynamics to predict the most probable market value in real time.

    Realmo CapRate Calculation

    Realmo calculates the Capitalization Rate (Cap Rate) to help estimate a property's potential return on investment. The Cap Rate is a fundamental metric in commercial real estate that measures the relationship between a property's net operating income and its market value.

    How We Calculate Cap Rate

    Cap Rate Formula:
    Cap Rate (%) = (Net Operating Income / Property Value) × 100

    Net Operating Income (NOI) Formula:
    NOI = Area × Lease Rate × (1 - Vacancy Rate) × (1 - Operating Expense Ratio)

    Components

    Net Operating Income (NOI) represents the annual income a property generates after operating expenses:

    • Area: Building square footage from property records
    • Lease Rate: Annual $/sqft based on market data for the property type and geographic location
    • Vacancy Rate: Percentage of unoccupied space based on market data for the property type and location
    • Operating Expense Ratio: Operating costs as a percentage of income, varies by property type

    Property Value is derived from:

    • Recent sale price (if available)
    • Statistical models using comparable sales
    • AI-powered valuation estimates

    Example Calculation

    For a 100,000 sqft Office Building:

    • Lease Rate: $25.00/sqft/year (market data for Office in this area)
    • Vacancy Rate: 8% (market data for Office in this area)
    • Operating Expense Ratio: 35% (typical for Office properties)
    • Property Value: $15,000,000

    Step 1: Calculate NOI

    NOI = 100,000 × $25.00 × (1 - 0.08) × (1 - 0.35)
    NOI = 100,000 × $25.00 × 0.92 × 0.65
    NOI = $1,495,000/year

    Step 2: Calculate Cap Rate

    Cap Rate = ($1,495,000 / $15,000,000) × 100
    Cap Rate = 9.97%

    Property Type Considerations

    Net Operating Income calculations vary by property type due to different operating expense ratios:

    • Office: Higher expenses (30-40%) for HVAC, utilities, maintenance
    • Retail: Moderate expenses (25-35%) for common area maintenance
    • Industrial/Warehouse: Lower expenses (15-25%) for minimal tenant services
    • Multifamily: Moderate expenses (35-45%) including property management
    • Self-Storage: Lower expenses (25-35%) due to minimal maintenance

    Market lease rates and vacancy rates are specific to each property type and geographic location, reflecting local market conditions.

    Disclaimer

    These calculations are estimates for informational purposes only and should not be used as a substitute for professional financial analysis or appraisal.

    • Cap Rate calculations depend on market data that may change over time
    • Actual operating expenses, lease rates, and vacancy rates may differ from market averages
    • Individual property conditions, lease terms, and tenant quality significantly impact actual NOI
    • Property value estimates are approximations and not official appraisals
    • Cap rates vary widely by market, property condition, and investment risk profile

    Professional Guidance Recommended: Before making any investment or financial decisions, consult with licensed appraisers, commercial real estate brokers, and financial advisors who can evaluate your specific property and circumstances.
    By using this feature, you acknowledge that Realmo is not responsible for investment decisions or actions taken based on these estimates.

    Cap approach

    Capitalization Method calculates value based on estimated net operating income (NOI) and applying a market-based capitalization rate (cap rate), we estimate what a typical investor might be willing to pay for it.

    Comparable approach

    Comparable estimate is based on recent sales of similar nearby properties, adjusted for factors like size, condition, and location.

    Relative

    Relative property class coefficient uses factors that account for typical price differences between various asset types (e.g., retail vs. industrial) to provide a more accurate market-aligned estimate.

    Geo

    Comparable Sales Method, enhanced by Geo coefficients — location-based adjustment factors that reflect differences in price levels across neighborhoods, cities, or regions ensuring a more accurate, market-sensitive valuation.

    Stat Estimate

    This method estimates value based on actual market adjusted recent (~5 years) sales of comparable properties around by location and property type.

    • Ranges - area data calculated by industry standard IQR Outlier Removal Method
    • Range-from: 75% of all similar sales ($/sqft) are above this value
    • Range-to: 75% of all similar sales ($/sqft) are below this value
    AI Estimate

    This method estimates value based on AI market estimation of comparable properties around by location and property type.

    • Ranges - area data calculated by industry standard IQR Outlier Removal Method
    • Range-from: 75% of all estimations ($/sqft) are above this value
    • Range-to: 75% of all estimations ($/sqft) are below this value
    Alternative use

    Estimate considers the property’s potential value if used for a different purpose-based on zoning, demand, and market feasibility.

    More about this property
    862 Lafayette St Cape Coral, FL 33904
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    We can help!
    Listing Contact
    Daryl Simms
    Real Estate License ID: 258026217
    (239) 202-1801 (239) 989-0111
    Learn more
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