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Property profile & analytics
FOR SALE
Turn key restaurants
12148 S Cleveland Ave Fort Myers, FL 33907
Entity Owned
10-yr Hold
Free & Clear
Property ID
US18-0251234
For Sale
1 / 11
$505,000
12148 S Cleveland Ave, Fort Myers, FL 33907
View Listing →
Property profile
Verified
Property type
Turn key restaurants
Use group
RESTAURANT
Year built
1977
Construction
MASONRY/CONCRETE MASONRY UNITS (CMUS)
Total area
8,999 SF
Lot
1.58 ac (69,000 SF)
Zoning code
C-1
APN
14-45-24-00-00003.0100
UPID
US18-0251234
Cap rate & NOI
Priority signal for investors
Implied cap rate, NOI & suggested price
Cap rate vs submarket · NOI estimate · 3 price anchors
Implied cap rate, NOI & suggested price
Cap vs submarket · NOI estimate · 3 price anchors
Value estimations
Realmo proprietary · 4 methods
AI Approach
AI
$395k
CAP Approach
CAP
by Request
Comparable Approach
Comparable
$613k
Blend (final)
Blend
$505k
Owner & transaction history
Kington LLC · 10 yrs held
Kington LLC
since 2016
7 recorded transactions
Zoning & alternative use
C-1 · Fort Myers, FL
Permitted uses
Permitted uses
Allowed · conditional · prohibited
Cap rate
Implied · in-place · derived from last sale + estimated NOI
Implied Cap rate
#1
Implied · in-place · NOI ÷ last sale
In-place · derived from last sale + estimated NOI
Cap rate, NOI & submarket benchmark
Implied cap rate vs Fort Myers submarket · NOI estimate · Typical band, median & reading
Implied cap rate, NOI & submarket benchmark
Cap vs Fort Myers submarket · NOI estimate · typical band, median & reading
Refine your cap rate
8-question underwriting flow
1.
Property current status — Going-In vs Stabilized
2.
Price for denominator — asking / offer / market
3.
Leasing status & lease structure (NNN / Gross)
4.
Tenant risk profile & vacancy assumption
5.
Upload T12 / rent roll / OM (optional)
Refine in 60 seconds, get exact suggested price
T12 upload · Submarket benchmarks · Sensitivity grid
Suggested price · 3 cap rate anchors
Income approach @ 5% / 7% / 9% — aggressive / typical / conservative
Suggested price at 5% / 7% / 9% cap
Aggressive / typical / conservative · Implied $/SF per anchor · Sensitivity grid
Suggested price at 5% / 7% / 9% cap
Aggressive / typical / conservative · implied $/SF · sensitivity
Value
AI, CAP & Alternative Use estimations · Realmo proprietary blendValue Estimations
Based on Realmo’s proprietary methodology
AI Approach
Method
Estimation
Statistic approach
by Request
ML approach
$395,000
CAP Approach
CAP Return
Estimation
6%
by Request
6.5%
by Request
7%
by Request
Blend value · Realmo final
$505k
Range $455k – $556k · ±10%
Realmo estimate · informational only.
These numbers are calculated by our models from public records and may not reflect actual market value.
Not an appraisal.
Verify with a licensed appraiser before transacting. Realmo accepts no liability for divergence from real-world outcomes.
View the full estimation — every method, every assumption
Confidence drivers & risk notes · Custom comparable set · Free for first 3 / day
Full estimation methodology
Every method · every assumption · confidence drivers
Price per SF
Sale + rent benchmarks
Subject property
$56 / SF
Submarket sale & rent benchmarks
Median sale $/SF · Asking & closed rent · Submarket vacancy
Submarket sale & rent benchmarks
Median sale $/SF · asking & closed rent · submarket vacancy
Property tax & assessments
Tax year 2023Property tax & assessments
Tax year 2023
Tax billed
$23,333
Tax year 2023
Assessed value
$1,570,245
Assessed 2023
Previous assessed
$1,561,197
+0.6% YoY
Effective rate
1.49%
On assessed value
Assessed land
$693,450
Assessed improvement
$876,795
Land market value
$693,450
Improvement market value
$876,795
Total market value
$1,570,245
Applied tax rate
47.0000
Comparables
6 recent transactions · within 1.5 miComparable in this city
6 recent transactions
Comparable in this City
Similar Nearby for Sale
Similar Nearby for Lease
Recent comparable sales
Sale price & price/SF · Sale date & distance · Adjustments & confidence
Recent comparable sales
Sale price & $/SF · sale date & distance · adjustments
Property description
Physical attributes from public recordsBuilding & lot
Public records
Property type
Turn key restaurants
Use group
RESTAURANT
Status
For Sale
Year built
1977
Construction
MASONRY/CONCRETE MASONRY UNITS (CMUS)
Heating
FORCED AIR
Cooling
AC.PACKAGE
Stories
1
Total area
8,999 SF
Lot
1.58 ac (69,000 SF)
Zoning code
C-1
APN
14-45-24-00-00003.0100
UPID
US18-0251234
Jurisdiction
LEE
Zoning & alternative use
C-1 · Fort Myers, FL
Zoning C-1 · permitted uses
C-1 · Fort Myers, FL
Permitted & conditional uses
Allowed uses · Special-permit conditions · Prohibited uses
Permitted & conditional uses
Allowed · special-permit conditions · prohibited
Fort Myers. Always verify with local authorities before improvements.
Building & site characteristics
From public records
Year built
1977
Construction
MASONRY/CONCRETE MASONRY UNITS (CMUS)
Heating
FORCED AIR
Cooling
Yes
Stories
1
Lot
1.58 ac
Current owner
From public records · entity-resolved
Kington LLC
Entity
Free & Clear · 10 yrs held
Mailing address
1390 BRICKELL AVE STE #200, MIAMI, FL 33131-3322
Ownership since
2016
Owner contacts — direct phone, email, and related entities
Decision-maker phone · Verified email · Related entities & filings
Owner contacts
Email · phone · related entities
Sales History
8 recorded events · public records
Date
Price
Buyer
Seller
Deed Type
Mortgage
Apr 11, 2025
—
Kington LLC
—
Deed
related
$2,000,000 · Bradesco Bac Florida Bank
Jun 2, 2016
$3,900,000
Kington LLC
Store Master Funding Vi LLC
Grant Deed
—
Oct 2, 2014
$3,300,000
Store Master Funding Vi LLC
Eriger Investments LLC
Warranty Deed
$3,300,000 · Citibank NA
Aug 3, 2005
$2,750,000
Jps Bar B Que LLC
Cleveland Holding Co LLC
Warranty Deed
$2,200,000 · Ge Capital Franchise Finance Corp
Jan 21, 2003
$1,700,000
Cleveland Holding Co
Kasprzyk,tr
Grant Deed
$1,200,000 · Kasprzyk Trust
May 19, 1998
$90,000
Mexmasters INC
Chevys INC
Grant Deed
—
—
—
Jps Bar-b-que LLC
—
Deed Of Trust
related
$2,200,000 · General Electric Cap Busn Asse
—
—
Jps Bar-b-que LLC
—
Deed Of Trust
related
$3,200,000 · Ge Capital Business Asset Fund
Coming soon
Costs & Benchmarks
Operating expenses, capex projections, utility benchmarks, and submarket comparables — all in one view.
Coming soon
Risks
Flood, climate, environmental, title, and tenant-concentration risk — surfaced with mitigations and source citations.
Try Rey
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“Is 15.6% cap rate sustainable?” · “Best tenant mix for BU1?” · “What’s the redev upside?”
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