Restaurant with Covered Outdoor
For Sale
$1,000,000
111 W OLYMPIA AVE, Punta Gorda, FL 33950
Established restaurant property with a commercial kitchen, dedicated cooler area, and open dining room.
Property Size2,221 SF
Days on Market23
Property Features for 111 W OLYMPIA AVE
General Information
Standard status
Active
Size
2,221 SF
Property subtype
Restaurant
Taxes and HOA fees
Annual Taxes
$6,627
Building Details
Building Size
2,221 SF
Year Built
1952
Listing Agency:
RE/MAX PALM REALTY
(941) 889-7654
Listed By:
Taylor Brady · License #3378570
Source:
Nixandassociates
Added: Aug 10
Changed: Aug 31
Last Checked: Aug 30 at 11:21PM
Displayed information is deemed reliable but is not guaranteed and should be independently verified. All listing content including descriptions, pricing, images are the copyrighted material of RE/MAX PALM REALTY
Investment Insights
Based on property information with market context.
This restaurant property at 111 W. Olympia Ave. in Punta Gorda is occupied by an established restaurant operation. The layout includes a commercial kitchen, a dedicated cooler area, an open dining room, and covered outdoor seating. Built in 1952, the property is configured for food-service use with both interior and exterior guest areas.
The site sits in downtown Punta Gorda along a heavily traveled corridor with an average daily traffic count of approximately 13,500 vehicles. Shops, restaurants, the waterfront, and downtown festivals and events are located in the surrounding area. WalkScore is 54, rated Somewhat Walkable, while BikeScore is 68, rated Bikeable.
The site sits in downtown Punta Gorda along a heavily traveled corridor with an average daily traffic count of approximately 13,500 vehicles. Shops, restaurants, the waterfront, and downtown festivals and events are located in the surrounding area. WalkScore is 54, rated Somewhat Walkable, while BikeScore is 68, rated Bikeable.
Key Highlights
- Restaurant property at 111 W. Olympia Ave., Punta Gorda, FL 33950
- Commercial kitchen with dedicated cooler area
- Open dining room plus covered outdoor seating
Financial Insights
Estimated NOI and Cap Rate
NOI = area × lease_rate × (100 − vacancy) / 100 × (1 − expense_ratio). Net Operating Income — what the owner takes home each year before mortgage payments and income tax. Effective rent (asking rent minus vacancy losses) minus operating costs (taxes, insurance, maintenance, management).
NOI / Yr
$29,688
Cap rate = NOI / list price × 100. Capitalization rate — annual return on a fully cash purchase, before financing. NOI divided by price. Higher means more income per dollar invested, but usually also more risk or older condition. 5–8% is typical for stabilized commercial property; double digits often signal distressed deals.
Cap Rate
2.97%
Suggested Prices Based on Cap Rates
Cap rates vary significantly by property type, market, and asset quality.
Typical U.S. stable-market ranges:
Multifamily — 4.5% to 6.5% (Class A in primary markets often sub-5%; Class C in secondary markets 6%+)
Industrial / Logistics — 5.0% to 7.0% (compressed heavily in recent years due to e-commerce demand)
Office — 6.5% to 9%+ (wide spread post-2020; CBD Class A vs. suburban Class B varies dramatically)
Retail — 5.5% to 8.5% (grocery-anchored on the low end, unanchored strip centers higher)
Hospitality / Hotels — 7.5% to 10%+ (higher due to operational risk)
Self-Storage — 5.5% to 7.5%
Medical Office — 6.0% to 7.5%
Net Lease (single tenant, credit) — 5.0% to 7.0% depending on tenant credit and lease term
Rules of thumb:
Primary markets (NYC, SF, LA, Boston, DC) trade at lower cap rates than secondary/tertiary markets, often by 100–200 bps (bps, aka basis points; 1 bp = 0.01%).
Class A assets trade ~50–150 bps tighter than Class B, and Class B tighter than Class C.
Cap rates move inversely with price — a lower cap rate means a higher price for the same NOI.
Spread to the 10-year Treasury is a common benchmark; historically 200–400 bps over the 10-year.
Cap Rate 5%
$593,760
$593.8K
Cap Rate 7%
$424,114
$424.1K
Cap Rate 9%
$329,867
$329.9K
Market Conditions
NOI Build-Up for 2,221 SF
Vacancy — income lost from leasable area expected to sit empty during the year, subtracted from gross rent.
EGI (Effective Gross Income) — gross rent minus vacancy losses, the realistic income before paying operating costs.
OpEx (Operating Expenses) — recurring costs to operate the property (property tax, insurance, utilities, maintenance, management); excludes financing and capital improvements.
NOI (Net Operating Income) — income a property generates after operating costs but before financing and taxes.
Gross rent
$42.1K $18.96/SF
− Vacancy
−$2.5K −$1.14/SF
EGI
$39.6K $17.82/SF
− OpEx
−$9.9K −$4.46/SF
NOI
$29.7K $13.37/SF
Area
Charlotte County, FL
Vacancy
6.00%
Lease Rate
$18.96 /SF/Yr
Expense Ratio
25.00%
Simulate Cap Rate and NOI
Suggested Prices Based on Cap Rates
Cap rates vary significantly by property type, market, and asset quality.
Typical U.S. stable-market ranges:
Multifamily — 4.5% to 6.5% (Class A in primary markets often sub-5%; Class C in secondary markets 6%+)
Industrial / Logistics — 5.0% to 7.0% (compressed heavily in recent years due to e-commerce demand)
Office — 6.5% to 9%+ (wide spread post-2020; CBD Class A vs. suburban Class B varies dramatically)
Retail — 5.5% to 8.5% (grocery-anchored on the low end, unanchored strip centers higher)
Hospitality / Hotels — 7.5% to 10%+ (higher due to operational risk)
Self-Storage — 5.5% to 7.5%
Medical Office — 6.0% to 7.5%
Net Lease (single tenant, credit) — 5.0% to 7.0% depending on tenant credit and lease term
Rules of thumb:
Primary markets (NYC, SF, LA, Boston, DC) trade at lower cap rates than secondary/tertiary markets, often by 100–200 bps (bps, aka basis points; 1 bp = 0.01%).
Class A assets trade ~50–150 bps tighter than Class B, and Class B tighter than Class C.
Cap rates move inversely with price — a lower cap rate means a higher price for the same NOI.
Spread to the 10-year Treasury is a common benchmark; historically 200–400 bps over the 10-year.
Cap Rate 5%
$593,760
Cap Rate 7%
$424,114
Cap Rate 9%
$329,867
Alternative Uses
Best Use
Specialty Retail
$424.1K
$371.1K – $494.8K
NOI $29,688 @ 7.0% cap · market cap 2.97%
Second Best
Industrial
$245.2K
$214.6K – $286.1K
NOI $17,164 @ 7.0% cap · market cap 1.72%
Theoretical Best
Office A
$727.2K
$636.3K – $848.4K
NOI $50,905 @ 7.0% cap · market cap 5.09%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Location Intelligence
Trade Area within ½ mile
1,749
Businesses Nearby
Under-served
Demand for This Use
Explore this area
Business Placement
Demographics for 33950, FL
24,984
Population
16,748
Households
1.5
Avg Household Size
66
Median Age
36%
College-Educated
95%
High-School Grad
17.8 sq mi
ZIP Area
1,404
Density / Sq Mi
$74,484
Median Household Income
$46,032
Median Earnings
$1,192
Median Rent
$393,500
Median Home Value
Market
Vacancy Rate% for Retail in South region
Questions? Ask Rey
Realmo’s AI knows this listing — price, zoning, demand, history. Ask anything.
Frequently Asked Questions
What type of property is this?
Conventional restaurant - Established restaurant property with a commercial kitchen, dedicated cooler area, and open dining room.
Where is this conventional restaurant located?
The property is located at 111 W OLYMPIA AVE Punta Gorda, FL.
What is the asking price?
The asking price for this property is $1,000,000.
What are key features of this property?
This property features: Restaurant property at 111 W. Olympia Ave., Punta Gorda, FL 33950; Commercial kitchen with dedicated cooler area; Open dining room plus covered outdoor seating
