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    9001 Park Royal Dr Fort Myers, FL 33908

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    Freestanding restaurant on 1.51 acres in HealthPark Medical District.

    Property size:
    5,398 SF
    Lot size:
    1.51 Acres

    Property Features for 9001 Park Royal Dr

    General Information

    Standard status
    Active
    Zoning
    Health Park CPD/PUD
    Size
    5,398 SF
    Lot size
    1.51 Acres

    Building Details

    Year built
    2001

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    Listing Contact
    Phil Fischler
    Source: Crexi

    Listing Agency: Fischler Property Company Listing Agent: Phil Fischler

    Displayed information is deemed reliable but is not guaranteed and should be independently verified.

    Learn more

    Overview

    Restaurant Redevelopment Opportunity in Fort Myers

    This is a freestanding second-generation restaurant redevelopment opportunity situated along Summerlin Boulevard in Fort Myers, Florida, within the HealthPark Medical District. The property includes a 5,398-square-foot former Ruby Tuesday building on a 1.51-acre lot. The location offers visibility, access, and exposure to approximately 37,000 vehicles per day. Positioned adjacent to HealthPark Medical Center and Golisano Children’s Hospital, it is located within a healthcare hub in Southwest Florida. The surrounding area includes residential communities and serves as a corridor to Sanibel Island, Captiva Island, and Fort Myers Beach, generating year-round and seasonal traffic. The existing infrastructure includes a commercial kitchen, hood and ventilation systems, walk-in coolers, grease trap, bar area, large dining room, restrooms, and back-of-house service areas. Zoning allows for restaurants, coffee with drive-thru, retail, medical office, and service-oriented uses. The property is suitable for repositioning or redevelopment, presenting an opportunity for restaurant operators, coffee concepts, medical users, or developers seeking a visible site in a healthcare and residential corridor.
    Location Intelligence

    Current Use by Public Records

    Wow Bao - Inside ... Restaurant Pardon My Cheesesteak Restaurant Libby's BBQ Restaurant Ruby Tuesday Restaurant

    Suggested Use

    Law Firm Restaurant Real Estate Agency Spa & Massage Center Dental Office Hair Salon Nail Salon Food Market Grocery & Convenience Store Gym & Fitness Center

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

    Location Insight

    • Map
    • Local Demand
    City
    Fort Myers
    County
    Lee
    State
    Florida
    Longitude
    -81.9056639
    Latitude
    26.5089105

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    FAQs

    What type of property is this?
    Conventional restaurant - Freestanding restaurant on 1.51 acres in HealthPark Medical District.
    Where is this conventional restaurant located?
    The property is located at 9001 Park Royal Dr Fort Myers, FL.
    What are key features of this property?
    This property features: - Freestanding, second-generation restaurant building with substantial existing infrastructure offering significant cost savings.; - Located in the highly desirable HealthPark Medical District, adjacent to HealthPark Medical Center and Golisano Children’s Hospital.; - Excellent visibility and strong access with exposure to approximately 37,000 vehicles per day on Summerlin Boulevard.
    Request Owner's contact information
    9001 Park Royal Dr Fort Myers, FL 33908
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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.

    More about this property
    9001 Park Royal Dr Fort Myers, FL 33908
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    Listing Contact
    Phil Fischler
    Real Estate License ID: BK3223003
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