Individually Owned 
For Sale
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2260 Dr Martin Luther King Blvd, Fort Myers, FL 33901
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Property profile
Verified
Property type
Turn key restaurants
Use group
RESTAURANT
Year built
1980
Construction
STEEL FRAME
Total area
3,960 SF
Lot
0.87 ac (37,785 SF)
Zoning code
U-CTR
APN
24-44-24-P1-01000.017A
UPID
US18-4521567
Cap rate & NOI
Priority signal for investors
Implied cap rate, NOI & suggested price
Cap rate vs submarket · NOI estimate · 3 price anchors
Location
Value estimations
Realmo proprietary · 4 methods
AI Approach
AI
$325k
CAP Approach
CAP
by Request
Comparable Approach
Comparable
by Request
Blend (final)
Blend
$370k
Owner & transaction history
since 2024
7 recorded transactions
Zoning & alternative use
U-CTR · Fort Myers, FL
Zoning description
The urban center zoning areas are established to protect the pedestrian friendly fabric of the historic downtown core and the center of each surrounding neighborhood. Ground floor retail is encouraged.
General category
COMMERCIAL
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
Value estimation
Instant AI valuation built from comps, income signals, and proprietary benchmarks. A defensible range, not a single guess.
Unlock the complete Valuation workflow
Full NOI reconstruction, selected comps, alternative-use scenarios, data audit and PDF export.
Full NOI build-up · 6 steps
All 4 comparables with addresses
Sensitivity value band
Source audit · 6 inputs
PDF export
Professional Plan · 30 reports
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Summary
1
Valuation conclusion
Included free
Estimated market value
$370k
Value range
$333k – $407k
±10% around blend
Estimated value / SF
$93 / SF
Confidence
Low
4 county-verified comps
Property data
100
Market benchmarks
67
Comparable evidence
40
Income certainty
100
$333k
blend $370k
$407k
Market-derived valuation under stabilized market assumptions. Desktop analysis. No physical inspection performed.
2
Subject property
Included free
GBA
3,960 SF
Lot area
0.87 ac
Year built
1980
Stories
1
APN
24-44-24-P1-01000.017A
Zoning
U-CTR
Assessed value
$656,411
Annual tax
$13,889
3
Income approach: direct capitalization
Partial preview
Estimated Stabilized NOI, derived from market rent, vacancy and expense benchmarks. Actual property income not reported.
Estimated market rent / SF
Potential gross income
Vacancy allowance
Effective gross income
Benchmark operating expenses
Stabilized NOI
Property tax
$13,889
Selected cap rate
4
Sales comparison
Partial preview
Sales approach indication
$2.95M
Weighted, 4 comps · low confidence
Evidence
4 found · 4 selected
County-verified recorded sales
Comparable
Sale dateSale price$ / SF
7.3 mi away · 4,684 SF
18.0 mi away · 4,613 SF
22.5 mi away · 4,602 SF
5
Sensitivity & risk
Partial preview
Downside
−10%
Base
$370k
Upside
+10%
Bounds of the ±10% band vs the blend — never simulated scenarios.
6
Current market position
Included free
Benchmark
Observed band ($/SF)AverageSubject delta
Submarket 63 sales
$621
-85%
County 134 sales
$578
-84%
Band = middle half (Q1–Q3) of recorded sale $/SF for this use type per geography; the diamond marks the subject at $93/SF. Delta below average reads as headroom. Source: Realmo CRE sales derivatives (county records).
7
Data & methodology
Included free
Building area
County record
Property tax
County record
Assessed value
County record
Zoning designation
County record
Operating expenses
Modeled
Market rent
Market benchmark
Not analyzed due to unavailable source data: actual rent roll, tenant leases, physical condition and capital
requirements are outside a desktop analysis.
Cost Approach excluded: income and sales evidence cover the value conclusion.
Automated valuation analysis, not a licensed appraisal. Figures are derived from public
records and proprietary models. Desktop analysis: no physical inspection, tenant leases or reported
property income. Verify with a licensed appraiser before transacting.
Cap rate
Cap rate calculated from real income and expense signals, benchmarked against sales of similar assets nearby.
Unlock the complete Cap Rate workflow
Full market tables, editable assumptions, comparable evidence, saved work and exports.
9-scenario matrix
Comparable evidence · 4 sales
NOI build-up · 9 steps
Market rates by use type
PDF export
Professional Plan · 30 reports
from $99/month
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Overview
Selected market yield
3.59%
Selected cap rate for this turn key restaurants
Derived from the Fort Myers market rent, vacancy and expense benchmarks for this use type.
Lower yield / higher price
Higher yield / lower price
5.0%
This property · 3.59%
9.0%
NOI (est.)
$63k *
* derived from a real price signal at a 7% cap
Price sensitivity
The rate is the decision lever; valuation is the consequence.
Test a cap rate
Implied value$1.75M
Move the market yield to see immediate price impact.
Value / SF
$442
Vs. selected
Base
Derivation
NOI ÷ cap
Arithmetic over the derived NOI * — not market scenario modeling.
NOI × cap matrix
Preview
Preview of 9 modeled outcomes.
NOI
3.09%3.59%4.09%
$57k
$1.83M
$1.58M
$1.38M
$63k
$2.03M
$1.75M
$1.54M
$69k
$2.24M
$1.93M
$1.69M
NOI sensitivity ±10% across the selected-rate band (±0.5 pp) — derivation of the NOI above.
Comparable evidence
Partial preview
Recorded sales nearby
4 found
Low confidence · county-verified
Closest comparable
$3.08M
5.6 mi · Mar 2026 · $711/SF
Property tax & assessments
Tax year 2023Property tax & assessments
Tax year 2023
Tax billed
$13,889
Tax year 2023
Assessed value
$656,411
Assessed 2023
Previous assessed
$648,178
+1.3% YoY
Effective rate
2.12%
On assessed value
Assessed land
$195,848
Assessed improvement
$460,563
Land market value
$195,848
Improvement market value
$460,563
Total market value
$656,411
Applied tax rate
91.0000
Automated cap rate analysis. Based on public records, market benchmarks and proprietary
models. Verify with a licensed professional before transacting.
Property description
Physical attributes from public recordsBuilding & lot
Public records
Property type
Turn key restaurants
Use group
RESTAURANT
Status
For Sale
Year built
1980
Construction
STEEL FRAME
Heating
FORCED AIR
Cooling
AC.PACKAGE
Stories
1
Total area
3,960 SF
Lot
0.87 ac (37,785 SF)
Zoning code
U-CTR
APN
24-44-24-P1-01000.017A
UPID
US18-4521567
Jurisdiction
LEE
Zoning & alternative use
U-CTR · Fort Myers, FLZoning U-CTR · permitted uses
U-CTR · Fort Myers, FL
Permitted & conditional uses
Allowed uses · Special-permit conditions · Prohibited uses
Zoning description
The urban center zoning areas are established to protect the pedestrian friendly fabric of the historic downtown core and the center of each surrounding neighborhood. Ground floor retail is encouraged.
General category
COMMERCIAL
Building & site characteristics
From public records
Year built
1980
Construction
STEEL FRAME
Heating
FORCED AIR
Cooling
Yes
Stories
1
Lot
0.87 ac
Zoning
The recorded zoning designation, what the district officially allows, and the municipal source it comes from.
Zoning designation
Matched to the official district catalog
U-CTR
COMMERCIAL
Jurisdiction
Fort Myers, FL
Recorded code
U-CTR
Official district
U-CTR
Official district profile
What the municipal code says about U-CTR
Zoning description
The urban center zoning areas are established to protect the pedestrian friendly fabric of the historic downtown core and the center of each surrounding neighborhood. Ground floor retail is encouraged.
General category
COMMERCIAL
Zoning Insight
What can be built and operated here — officially.
The district profile from the municipal source: what is on file for U-CTR in Fort Myers, FL.
What opens after registration
Zoning profile
Official descriptionThe district text from the municipal code
District factsZone name, category and district area
Cited sourceThe exact document the profile quotes
Match provenanceAssignment basis, match tier and confidence
Private report access
See the official zoning profile for this address.
Registration is required before the official district profile is shown.
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Ownership Intelligence
Find the owner behind the property.
Unlock the evidence behind ownership: portfolio, transactions, debt and signals that help you decide who to contact next.
What opens after registration
Ownership report
Owner identityResolved entity and name variants
Portfolio holdingsLinked properties and estimated value
Deal signalsSell-side activity worth following
Debt & historyRecorded loans and transaction history
Private report access
See the ownership record for this address.
Registration is required before any owner information is shown.
One complete report on every paid plan · 30 · 300 reports per month.
Owner of record and activity signals are derived from public records and modeled classifications.
They do not confirm beneficial ownership or intent to transact.
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“Is 15.6% cap rate sustainable?” · “Best tenant mix for BU1?” · “What’s the redev upside?”
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