Cape Coral Mixed-Use
For Sale
$2,970,000
862 Lafayette St, Cape Coral, FL 33904
Two-story, 17,500+ sq ft building in downtown Cape Coral.
Property Size17,564 SF
Price / SF$169.10
Days on Market472
Property Features for 862 Lafayette St
General Information
Standard status
Active
Size
17,564 SF
Property subtype
Commercial
Building Details
Year Built
2002
Listing Agency:
Cornerstone Coastal Properties
Listed By:
Daryl Simms · License #258026217
(239) 202-1801
Source:
Napleshomesearches
Added: Jun 29, 2025
Changed: Oct 10
Last Checked: Oct 12 at 8:10PM
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 Cornerstone Coastal Properties
Investment Insights
Based on property information with market context.
Located in downtown Cape Coral, this two-story building offers over 17,500 square feet of space. Previously operated as Paesano's for over 30 years, the property is situated within the South Cape Zoning District, the C.R.A, and The South Cape Hospitality & Entertainment Area. The listing includes 862 Lafayette St., which comprises the building and some parking, as well as 859 Miramar St. for additional off-street entrance and parking from the south. The property is located one block south of Cape Coral Parkway and one block east of Coronado Parkway. It features six walk-in coolers, three walk-in freezers, two commercial kitchens, a butcher room, and phase-3 power. A great deal of FFE are on premise for consideration of sale. Multiple restrooms are available. The second-floor office includes a small balcony overlooking the main shopping area floor, which has a soaring ceiling. The patio seating area includes one of the kitchens equipped with pizza ovens, gas stoves, fryers, and more. This large screened area also features power shutters. The location is near new apartment complexes, including "The Cove On 47th" on Cape Coral Parkway with 327 units and "Madison Square" on Miramar with 82 units.
Key Highlights
- Prime Downtown Cape Coral location in a vibrant district.
- Over 17,500 sq ft, two‑story building with additional off‑street entrance and parking.
- Equipped with 6 walk‑in coolers, 3 walk‑in freezers, 2 commercial kitchens, a butcher room, and phase‑3 power.
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$264,864
Cap Rate
8.92%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$5,297,280
$5.3M
Cap Rate 7%
$3,783,771
$3.8M
Cap Rate 9%
$2,942,933
$2.9M
Market Conditions
NOI Build-Up for 17,564 SF
Gross rent
$385.7K $21.96/SF
− Vacancy
−$7.3K −$0.42/SF
EGI
$378.4K $21.54/SF
− OpEx
−$113.5K −$6.46/SF
NOI
$264.9K $15.08/SF
Area
Cape Coral, FL
Vacancy
1.90%
Lease Rate
$21.96 /SF/Yr
Expense Ratio
30.00%
Simulate Cap Rate and NOI
Suggested Prices Based on Cap Rates
Cap Rate 5%
$5,297,280
Cap Rate 7%
$3,783,771
Cap Rate 9%
$2,942,933
Alternative Uses
Best Use
Retail
$3.78M
$3.31M – $4.41M
NOI $264,864 @ 7.0% cap · market cap 8.92%
Second Best
Mixed Use
$3.10M
$2.71M – $3.61M
NOI $216,696 @ 7.0% cap · market cap 7.30%
Theoretical Best
Office A
$4.56M
$3.99M – $5.32M
NOI $319,018 @ 7.0% cap · market cap 10.74%
Zoning and permitted uses should be independently verified with authorities.
How Realmo checks its estimates
Property Analytics
Unlock full access to Insights
Subscribe to Realmo Intelligence
Open Analytics
Current Use
Location Intelligence
Trade Area within ½ mile
2,280
Businesses Nearby
203k
Monthly Visits Nearby
Explore this area
Business Placement
Foot Traffic Nearby
Shops & Services 43%
Dining 30%
Groceries 14%
Home Improvements & Furnishings 8%
Winn-Dixie
Groceries
28,327 visits/mo
0.3 miles
McDonald's
Dining
18,781 visits/mo
0.4 miles
7-Eleven
Shops & Services
18,620 visits/mo
0.4 miles
Starbucks
Dining
16,098 visits/mo
0.1 miles
Vision Ace Hardware
Home Improvements & Furnishings
14,318 visits/mo
0.2 miles
Demographics for 33904, FL
32,029
Population
20,401
Households
1.6
Avg Household Size
56
Median Age
29%
College-Educated
95%
High-School Grad
9.7 sq mi
ZIP Area
3,302
Density / Sq Mi
$66,933
Median Household Income
$43,829
Median Earnings
$1,665
Median Rent
$347,100
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
Realmo’s AI knows this listing — price, zoning, demand, history. Ask anything.
Frequently Asked Questions
What type of property is this?
Mixed-use property - Two-story, 17,500+ sq ft building in downtown Cape Coral.
Where is this mixed-use property located?
The property is located at 862 Lafayette St Cape Coral, FL.
What is the asking price?
The asking price for this property is $2,970,000.
What are key features of this property?
This property features: Prime Downtown Cape Coral location in a vibrant district.; Over 17,500 sq ft, two‑story building with additional off‑street entrance and parking.; Equipped with **6 walk‑in coolers, 3 walk‑in freezers, 2 commercial kitchens**, a butcher room, and phase‑3 power.
