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 Market69
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
Listed By:
Taylor Brady · License #3591890
(239) 896-6433
Source:
Nixandassociates
Added: Aug 10
Changed: Oct 2
Last Checked: Oct 16 at 2:58PM
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
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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 / Yr
$29,688
Cap Rate
2.97%
Suggested Prices Based on Cap Rates
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
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 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.
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Property Analytics
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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
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Cap Rate, Value Estimation, Potential NOI and more
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Market
Vacancy Rate% for Retail in South region
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
