Freestanding Restaurant with
For Sale
$950,000
1130 N TAMIAMI Trail, North Fort Myers, FL 33903
Commercial Sale, NORTH FORT MYERS, FL
Property Size3,460 SF
Lot Size0.81 Acres
Price / SF$274.57
Days on Market267
Property Features for 1130 N TAMIAMI Trail
General Information
Property type
Commercial Sale
Property subtype
Other
Zoning
C-2
Appliances
Dishwasher, Microwave, Refrigerator
Subdivision
HARBOR ESTATES
Lot features
Central Business District, Flood Zone, Street Lights, Paved
Directions
Coming from downtown Fort Myers, the Athenian is on N US41 right hand side about a .5 mile after the bridge.
Standard status
Active
APN
11-44-24-03-0000D.0060
Size
3,460 SF
Lot size
0.81 Acres
Taxes and HOA fees
Tax Year
2024
Tax Description
HARBOR EST BLK D PB 9 PG 15 LTS 6 THRU 10 + PT 11 + CABANA CITY BLK W LES R/W
Tax Annual Amount
5646
Legal Description
HARBOR EST BLK D PB 9 PG 15 LTS 6 THRU 10 + PT 11 + CABANA CITY BLK W LES R/W
Utilities
Utilities
Natural Gas Available
Cooling system
Central Air
Water source
Public
Building Details
Year built
1976
Floors in Building
1
Building materials
Concrete
Roof type
Shingle
Additional Structures
Storage
Listing Agency:
RE/MAX HARBOR REALTY · RE/MAX International
(941) 639-8500
Listed By:
Margeaux McCarthy · License #SL3352338
(401) 688-0822
Added: Dec 1, 2025
Changed: Aug 24
Last Checked: Aug 25 at 5:06AM
MLS# C7518495
Copyright © 2026 Stellar MLS. All rights reserved. All information provided by the listing agent/broker is deemed reliable but is not guaranteed and should be independently verified.
Investment Insights
Based on property information with market context.
Located at 1130 N Tamiami Trail in North Fort Myers, this freestanding restaurant includes 3,460 square feet under air on a 0.81-acre parcel. The existing layout features a dining room with seating for 157 guests, a drive-through, and a 4COP liquor license. Concrete construction, central air, a shingle roof, and available natural gas are also in place.
The property fronts US 41 and has two curb cuts serving the site. Rear access connects with Pondella Road, providing an additional approach to the property. Traffic volume along US 41 is reported at nearly 59,000 vehicles per day. C-2 zoning and an Intensive Development Future Land Use designation support restaurant operations and other higher-intensity commercial applications.
The property fronts US 41 and has two curb cuts serving the site. Rear access connects with Pondella Road, providing an additional approach to the property. Traffic volume along US 41 is reported at nearly 59,000 vehicles per day. C-2 zoning and an Intensive Development Future Land Use designation support restaurant operations and other higher-intensity commercial applications.
Key Highlights
- 3,460 square feet under air on 0.81 acres
- Dining room seats 157 guests
- Existing drive‑through and 4COP liquor license
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
$54,931
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
5.78%
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%
$1,098,620
$1.1M
Cap Rate 7%
$784,729
$784.7K
Cap Rate 9%
$610,344
$610.3K
Market Conditions
NOI Build-Up for 3,460 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
$74.7K $21.60/SF
− Vacancy
−$1.5K −$0.43/SF
EGI
$73.2K $21.17/SF
− OpEx
−$18.3K −$5.29/SF
NOI
$54.9K $15.88/SF
Area
Lee County, FL
Vacancy
2.00%
Lease Rate
$21.60 /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%
$1,098,620
Cap Rate 7%
$784,729
Cap Rate 9%
$610,344
Alternative Uses
Best Use
Specialty Retail
$784.7K
$686.6K – $915.5K
NOI $54,931 @ 7.0% cap · market cap 5.78%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$1.09M
$952.9K – $1.27M
NOI $76,231 @ 7.0% cap · market cap 8.02%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
59,000 VPD
Traffic count
Yes
Highway access
Yes
Paved road access
Yes
Liquor license
Location Intelligence
Trade Area within ½ mile
574
Businesses Nearby
8k
Monthly Visits Nearby
Under-served
Demand for This Use
Explore this area
Business Placement
Foot Traffic Nearby
Shops & Services 100%
Speedway
Shops & Services
7,151 visits/mo
0.4 miles
Extra Space Storage
Shops & Services
419 visits/mo
0.4 miles
Demographics for 33903, FL
23,294
Population
15,400
Households
1.5
Avg Household Size
61
Median Age
24%
College-Educated
89%
High-School Grad
11.3 sq mi
ZIP Area
2,061
Density / Sq Mi
$56,317
Median Household Income
$32,452
Median Earnings
$1,152
Median Rent
$135,400
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 - Built-out restaurant with drive-through service, substantial dining capacity, and direct US 41 access.
Where is this conventional restaurant located?
The property is located at 1130 N TAMIAMI Trail North Fort Myers, FL.
What is the asking price?
The asking price for this property is $950,000.
What are key features of this property?
This property features: 3,460 square feet under air on 0.81 acres; Dining room seats 157 guests; Existing drive‑through and 4COP liquor license
