High-Visibility Restaurant on US
For Sale
$950,000
1130 North Tamiami Trail North Fort, North Fort Myers, FL 33903
Freestanding restaurant with drive-thru and liquor license on US 41.
Property Size3,460 SF
Lot Size0.81 Acres
Price / SF$274.57
Days on Market128
Property Features for 1130 North Tamiami Trail North Fort
General Information
Standard status
Active
Size
3,460 SF
Total Parking Spaces
54
Lot size
0.81 Acres
Property subtype
Business Opportunities
Zoning
C-2
Building Details
Building Size
3,460 SF
Year Built
1976
Listing Agency:
RE/MAX
(401) 688-0822
Listed By:
Margeaux McCarthy · License #SL3352338
Source:
Remaxcommercial
Added: Apr 24
Changed: Aug 25
Last Checked: Aug 29 at 5:46AM
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
Investment Insights
Based on property information with market context.
The property at 1130 N Tamiami Trail is a freestanding restaurant situated on US 41 in North Fort Myers. The building has 3,460 square feet of air-conditioned space and sits on 0.81 acres. The restaurant includes a dining room with seating for 157 guests, an existing drive-thru, and a 4COP liquor license. The site benefits from two curb cuts on US 41 for ingress and egress, as well as rear access to Pondella Road. The location sees approximately 59,000 vehicles per day. Zoned C-2 with a Future Land Use of Intensive Development, the property is suitable for a variety of commercial uses and has redevelopment potential. The property has a walk score of 35, indicating it is car-dependent, and a bike score of 33, indicating it is somewhat bikeable. This property is ideal for a restaurant, retail, or service-based operation.
Key Highlights
- High visibility location directly on US 41 with nearly 59,000 vehicles/day.
- Existing drive‑thru and 4COP liquor license included.
- Seating capacity for 157 guests in a fully built‑out dining room.
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
Location Intelligence
Trade Area within ½ mile
2
Businesses Nearby
Explore this area
Business Placement
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
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Frequently Asked Questions
What type of property is this?
Drive through restaurant - Freestanding restaurant with drive-thru and liquor license on US 41.
Where is this drive through restaurant located?
The property is located at 1130 North Tamiami Trail North Fort 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: High visibility location directly on US 41 with nearly 59,000 vehicles/day.; Existing drive‑thru and 4COP liquor license included.; Seating capacity for 157 guests in a fully built‑out dining room.
