702 Fishermans WharfFort Myers Beach, FL 33931

Property Details for 702 Fishermans Wharf

Year built

1932

Construction

FRAME

Lot size

0.17 AC

Property size (Sq ft)

1,159 SF

Zone code

IM

Property type

Retail properties

Property subtype

Turn key restaurants

APN

24-46-23-10-00009.0000

APU

24462310000090000

Description

This exceptional investment opportunity encompasses four contiguous properties totaling 11,683 square feet on Fort Myers Beach's coveted Fishermans Wharf in Lee County, Florida (zip code 33931). The complex includes three buildings constructed in 1932 and 1980, situated on a 0.63-acre lot with IM zoning. The main attraction is the established Bonita Bills Restaurant, featuring 1,415 square feet of indoor space complemented by a substantial 3,185-square-foot covered outdoor patio. A separate event space building offers 2,426 square feet of indoor area and an additional 1,197 square feet of covered outdoor space, perfect for hosting various functions. A third multi-use building provides 7,842 square feet of versatile space. The property boasts a prime waterfront location with 53 boat slips supported by a State of Florida-approved submerged land lease, ensuring consistent income streams. Dedicated parking is available, catering to both patrons and staff. This turnkey operation presents a unique chance to acquire a thriving restaurant and event venue with significant expansion potential, benefiting from its established reputation, strong local and tourist clientele, and convenient east boat access. The asking price is $6,900,000, translating to $590.60 per square foot. This is a rare opportunity to own a piece of Fort Myers Beach history.

• CAP approach

  CAP return

  Valuation

  6%

  $451,932

  6.5%

  $417,168

  7%

  $387,370

• Comparable approach

  Method

  Valuation

  Relative Method

  $585,916

  Geo Method

  $533,404

• Alternative Use

  Use

  Valuation

  Residential

  $351,897

  Hospitality

  $322,335

  Educational

  $268,179

  Medical

  $277,402

  Retail

  $417,168

Location Insight

City

Fort Myers Beach

County

Lee

State

Florida

Latitude

26.4583

Longitude

-81.9527

CBSA code

15980

CBSA name

CAPE CORAL-FORT MYERS, FL METROPOLITAN STATISTICAL AREA

Property Tax & Assessments

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