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    Established Restaurant with Upside Potential Title is generated by Realmo AI

    1303 Del Prado Blvd S, Cape Coral, FL 33990

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    For Sale
    $1,700,000

    Turnkey restaurant with two bars, seating for 216, real estate.

    Type:Commercial
    Lot size:
    0.60 Acres
    Added:
    Apr 15, 2026
    Days on Market:
    49
    Last Refresh:
    Apr 1 at 4:40 am

    Property Features for 1303 Del Prado Blvd S

    General Information

    Standard status
    Active
    Lot size
    0.60 Acres
    Property subtype
    Commercial

    Building Details

    Year Built
    1980

    We can help!

    Listing Contact
    Phil Deems

    Listing agent Phil Deems License #252000244

    Listing office Phil Deems Real Estate

    Listing date Apr 15, 2026

    Source Elliman

    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 Phil Deems Real Estate

    HighLights

    • Priced $600,000 under appraised value (completed September 2023).
    • Turnkey, fully operational restaurant with all furniture, fixtures, equipment, inventory, customer base, and real estate included.
    • Over $500,000 in upgrades completed, including a new roof, upgraded electric, new roof vents, hurricane windows, and interior painting.
    • Established neighborhood bar and grill with a good customer base since 2007.
    • Includes real estate: Lots 21, 22, 23, 24, 25, and 27 in Block 1265, totaling 26,000 sq. ft. +/-
    • Features two bars, inside seating for approximately 75, and patio bar seating for approximately 18, plus additional tables; total inside seating code allows for 216.

    Overview

    This established hometown restaurant, operating since 2007, offers a successful neighborhood bar and grill experience. The property features two bars, inside seating for approximately 75 patrons, and patio bar seating for around 18, supplemented by several additional four-top tables. Total seating capacity is 216 according to code. Closed for two years due to Hurricane Ian and roof damage (but with no flooding), the restaurant has reopened in November 2024 after over $500,000 in upgrades. These upgrades include a new roof, upgraded electric system, new roof vents, hurricane windows on the second floor, interior painting, and new ceiling and ceiling fans in certain areas. The sale includes all furniture, fixtures, equipment, inventory, customer base, and the real estate itself. The real estate consists of lots 21, 22, 23, 24, 25, and 27 in block 1265, totaling approximately 26,000 square feet. The property presents excellent upside potential and is value priced. It is listed for $1,700,000, which is $600,000 under the appraised value completed in September 2023.
    Location Intelligence

    Current Use by Public Records

    Anthony's on the BLVD Restaurant

    Suggested Use

    Real Estate Agency Law Firm Restaurant Spa & Massage Center Dental Office Hair Salon Nail Salon Building Supply Gym & Fitness Center Pharmacy

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

    Similar Places Nearby

    • The O Bar — 304 Del Prado Blvd S, Cape Coral, FL 33990

    Location Insight

    • Map
    • Local Demand
    City
    Cape Coral
    County
    Lee
    State
    Florida
    Longitude
    -81.9404291
    Latitude
    26.6282029

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    FAQs

    What type of property is this?
    Bar & Pub - Turnkey restaurant with two bars, seating for 216, real estate.
    Where is this bar & pub located?
    The property is located at 1303 Del Prado Blvd S Cape Coral, FL.
    What is the asking price?
    The asking price for this property is $1,700,000.
    What are key features of this property?
    This property features: Priced $600,000 under appraised value (completed September 2023).; Turnkey, fully operational restaurant with all furniture, fixtures, equipment, inventory, customer base, and real estate included.; Over $500,000 in upgrades completed, including a new roof, upgraded electric, new roof vents, hurricane windows, and interior painting.
    (239) 822-1101
    We can help!
    Listing Contact
    Phil Deems
    Real Estate License ID: 252000244
    Learn More
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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.

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