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Property profile & analytics
OFF-MARKET
Estimated value
$4,000,000
Turn key restaurants
8940 Colonial Ctr Dr Fort Myers, FL 33905-7815
Entity Owned
6-yr Hold
Free & Clear
Property ID
US18-3884812
Property profile
Verified
Property type
Turn key restaurants
Use group
RESTAURANT
Year built
2004
Construction
MASONRY/CONCRETE MASONRY UNITS (CMUS)
Total area
5,167 SF
Lot
1.5 ac (65,340 SF)
Zoning code
C1
APN
28-44-25-P3-00200.0050
UPID
US18-3884812
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
Current use
Occupant on record · Public records
-
Bob Evans Restaurant
Value estimations
Realmo proprietary · 4 methods
AI Approach
AI
$4.71M
CAP Approach
CAP
by Request
Comparable Approach
Comparable
$3.10M
Blend (final)
Blend
$4.00M
Owner & transaction history
Double H Investments LLC · 6 yrs held
Double H Investments LLC
since 2020
Last sale
$3.6M
4 recorded transactions
Zoning & alternative use
C1 · Fort Myers, FL
Permitted uses
Permitted uses
Allowed · conditional · prohibited
Top alternative use upside
Auto repair, garage
$3.8M
+17.7%
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
$4,925,000
ML approach
$4,705,000
CAP Approach
CAP Return
Estimation
6%
by Request
6.5%
by Request
7%
by Request
Alternative Use
Use
Estimation
RESTAURANT
$3,210,000
Current use
AUTO REPAIR, GARAGE
$3,780,000
Change: +18% · Conversion: Difficult
Blend value · Realmo final
$4.00M
Range $3.60M – $4.40M · ±10% · vs last sale $3.64M (Jan 15 2020)
Last sale anchor
$3.64M
Jan 15 2020
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
$774 / 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
$36,880
Tax year 2023
Assessed value
$2,033,320
Assessed 2023
Previous assessed
$2,006,248
+1.3% YoY
Effective rate
1.81%
On assessed value
Assessed land
$1,387,691
Assessed improvement
$645,629
Land market value
$1,387,691
Improvement market value
$645,629
Total market value
$2,033,320
Applied tax rate
90.0000
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
Off-Market
Year built
2004
Construction
MASONRY/CONCRETE MASONRY UNITS (CMUS)
Heating
FORCED AIR
Cooling
AC.PACKAGE
Stories
1
Total area
5,167 SF
Lot
1.5 ac (65,340 SF)
Zoning code
C1
APN
28-44-25-P3-00200.0050
UPID
US18-3884812
Jurisdiction
LEE
Zoning & alternative use
C1 · Fort Myers, FL
Zoning C1 · permitted uses
C1 · 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.
Alternative use value scenarios
Repositioning upside vs current use
RESTAURANT Current
Est. value
$3.2M
AUTO REPAIR, GARAGE
Est. value
$3.8M
RESTAURANT Current
AUTO REPAIR, GARAGE
Alternative use deep dive — conversion cost, permits, timeline
Conversion cost estimate · Permit path & risks · Stabilized NOI per option
Alternative use deep dive
Conversion cost · permit path · stabilized NOI per option
Building & site characteristics
From public records
Year built
2004
Construction
MASONRY/CONCRETE MASONRY UNITS (CMUS)
Heating
FORCED AIR
Cooling
Yes
Stories
1
Lot
1.5 ac
Current owner
From public records · entity-resolved
Double H Investments LLC
Entity
Free & Clear · 6 yrs held
Mailing address
163 KING GEORGE ST, ANNAPOLIS, MD 21401-1747
Mailing matches property
Yes
Owner-occupied
Yes
Ownership since
2020
Owner contacts — direct phone, email, and related entities
Decision-maker phone · Verified email · Related entities & filings
Owner contacts
Email · phone · related entities
Sales History
4 recorded events · public records
Date
Price
Buyer
Seller
Deed Type
Mortgage
Jan 15, 2020
$3,638,300
Double H Investments LLC
Merrick & Central Road LLC
Grant Deed
—
Jul 17, 2017
$3,428,400
Merrick And Central Rd LLC
Ber Real Estate Investments LLC
Special Warranty Deed
—
May 5, 2017
$1,835,500
Ber Real Estate Investments I LLC
Bob Evans Farms LLC
Special Warranty Deed
—
Mar 8, 2004
$800,000
Bob Evans Farms INC
1-75 Colonial Land Trust
Grant Deed
—
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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