Restaurant with On-Site
For Sale
$1,750,000
The Oasis 2260 Dr. Martin Luther King Jr. Blvd., Fort Myers, FL 33901
3960 SF restaurant with on-site parking and FF&E.
Property Size3,960 SF
Price / SF$441.92
Days on Market281
Property Features for The Oasis 2260 Dr. Martin Luther King Jr. Blvd.
General Information
Standard status
Active
Size
3,960 SF
Property subtype
Retail
Building Details
Building Size
3,960 SF
Year Built
1980
Listing Agency:
SVN - Commercial Partners | Miami
(239) 707-1700
Listed By:
Tiffany Luongo
(239) 707-1700
Source:
Svn
Added: Nov 21, 2025
Changed: Aug 11
Last Checked: Aug 29 at 7:47AM
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 3960 square foot building includes on-site parking. The site directly fronts State Road 82, Hendry Street to the west, and Jackson Street to the east. The property includes all furniture, fixtures, and equipment. It benefits from lighted intersection access and offers seating for 120, both indoor and on the patio. A traffic count on State Road 82 between Fowler and Evans was recorded at 40,253 in 2015. The building was completely gutted and renovated in 2002. The property is suitable for restaurants, retail, conventional restaurants, parking lots and garages, and automotive businesses.
Key Highlights
- 3,960 sq ft building with rare on‑site parking.
- Includes all FF&E (Furniture, Fixtures, and Equipment).
- High traffic location directly fronting SR 82 with 40,253 vehicles.
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
Retail
$742.1K
$649.4K – $865.8K
NOI $51,948 @ 7.0% cap · market cap 2.97%
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
Current Use
Location Intelligence
Trade Area within ½ mile
1,178
Businesses Nearby
79k
Monthly Visits Nearby
Under-served
Demand for This Use
Explore this area
Business Placement
Foot Traffic Nearby
Shops & Services 69%
Dining 18%
Groceries 9%
Apparel 4%
dd's DISCOUNTS
Shops & Services
18,577 visits/mo
0.0 miles
Save-A-Lot
Groceries
7,224 visits/mo
0.1 miles
Taco Bell
Dining
6,544 visits/mo
0.3 miles
Mobil
Shops & Services
6,056 visits/mo
0.3 miles
7-Eleven
Shops & Services
6,033 visits/mo
0.3 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
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?
Restaurant - 3960 SF restaurant with on-site parking and FF&E.
Where is this restaurant located?
The property is located at The Oasis 2260 Dr. Martin Luther King Jr. 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: 3,960 sq ft building with rare on‑site parking.; Includes all FF&E (Furniture, Fixtures, and Equipment).; High traffic location directly fronting SR 82 with 40,253 vehicles.
