Conventional Restaurant with Indoor and Patio
For Sale
Contact for pricing
2260 Dr Martin Luther King Blvd, Fort Myers, FL 33901
Restaurant offering 120 seats with indoor and patio dining and lighted intersection access.
Property Size3,960 SF
Price / SF$441.92
Days on Market127
Property Features for 2260 Dr Martin Luther King Blvd
General Information
Standard status
Active
Size
3,960 SF
Property subtype
RETAIL
Additional Details
Road Access
Yes
Listing Agency:
SVN - Commercial Partners | Miami
(561) 725-0725
Listed By:
Tiffany Luongo
(239) 707-1700
Source:
Moodyscre
Added: May 12
Changed: Aug 15
Last Checked: Sep 14 at 9:27AM
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 SVN - Commercial Partners | Miami
Investment Insights
Based on property information with market context.
This conventional restaurant is offered with all FF&E included. The space is set up for foodservice with seating for 120 guests, including both indoor and patio dining areas.
The property is located at 2260 Dr Martin Luther King Blvd in Fort Myers, Florida 33901, with lighted intersection access for convenient arrival and visibility.
With 3,960 SF of space, the layout supports a split dining experience for customers who prefer indoor seating or outdoor patio dining.
The property is located at 2260 Dr Martin Luther King Blvd in Fort Myers, Florida 33901, with lighted intersection access for convenient arrival and visibility.
With 3,960 SF of space, the layout supports a split dining experience for customers who prefer indoor seating or outdoor patio dining.
Key Highlights
- Seats 120 total with indoor and patio dining
- Includes all FF&E
- Lighted intersection access
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
$62,869
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
3.59%
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%
$1,257,380
$1.3M
Cap Rate 7%
$898,129
$898.1K
Cap Rate 9%
$698,544
$698.5K
Market Conditions
NOI Build-Up for 3,960 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
$85.5K $21.60/SF
− Vacancy
−$1.7K −$0.43/SF
EGI
$83.8K $21.17/SF
− OpEx
−$21.0K −$5.29/SF
NOI
$62.9K $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%
$1,257,380
Cap Rate 7%
$898,129
Cap Rate 9%
$698,544
Alternative Uses
Best Use
Specialty Retail
$898.1K
$785.9K – $1.05M
NOI $62,869 @ 7.0% cap · market cap 3.59%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$1.25M
$1.09M – $1.45M
NOI $87,247 @ 7.0% cap · market cap 4.99%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
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Open Analytics
Current Use
Lease Details
Yes
Paved road access
Location Intelligence
Trade Area within ½ mile
2,555
Businesses Nearby
86k
Monthly Visits Nearby
Under-served
Demand for This Use
Explore this area
Business Placement
Foot Traffic Nearby
Shops & Services 62%
Dining 34%
Hotels & Casinos 4%
RaceTrac
Shops & Services
25,274 visits/mo
0.5 miles
Ford's Garage
Dining
15,286 visits/mo
0.3 miles
7-Eleven
Shops & Services
14,943 visits/mo
0.4 miles
Starbucks
Dining
7,994 visits/mo
0.3 miles
Family Dollar
Shops & Services
6,247 visits/mo
0.4 miles
Demographics for 33901, FL
22,629
Population
11,709
Households
1.9
Avg Household Size
43
Median Age
29%
College-Educated
83%
High-School Grad
6.2 sq mi
ZIP Area
3,650
Density / Sq Mi
$51,579
Median Household Income
$37,233
Median Earnings
$1,291
Median Rent
$280,400
Median Home Value
Check the figures for this property
Cap Rate, Value Estimation, Potential NOI and more
View Realmo Analytics
Market
Vacancy Rate% for Retail in South region
Questions? Ask Rey
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Frequently Asked Questions
What type of property is this?
Conventional restaurant - Restaurant offering 120 seats with indoor and patio dining and lighted intersection access.
Where is this conventional restaurant located?
The property is located at 2260 Dr Martin Luther King Blvd Fort Myers, FL.
What is the asking price?
The asking price for this property is $1,750,000.
What are key features of this property?
This property features: Seats 120 total with indoor and patio dining; Includes all FF&E; Lighted intersection access
