TROPHY RESORT-ISLAND BAYFRONT ASSET. FULLY STABILIZED. PRIME ENTERTAINMENT DISTRICT LOCATION! Old Seaport Place is the crown jewel of Fort Myers Beach — a rare, fully stabilized, triple-net-leased waterfront investment positioned at the epicenter of the island’s billion-dollar reinvention. Situated on 1.80 irreplaceable bayfront acres in the heart of the Old San Carlos entertainment district, this institutional-grade asset delivers reliable income today with exceptional upside tomorrow. This listing includes a total of 6 parcels, anchored by three of the island’s most iconic waterfront restaurants — Nervous Nellie’s, Snug Harbor, and Wahoo Willie’s — the property features long-term NNN leases with seasoned operators who have deep roots in the community and proven performance post-Hurricane Ian. These are not speculative tenants. They are dominant market leaders generating predictable, escalating income with percentage rent participation — all while the landlord remains insulated from operating expenses. Old Seaport Place is more than a restaurant collection. It is a revenue platform. The asset includes over 25,000 square feet of income-producing improvements, 21 deep-water marina slips, and a 122-space private parking lot — a critical competitive advantage on Fort Myers Beach. Both marina and parking components are independently monetizable and provide immediate value-add potential. The parking field alone presents a compelling development opportunity. With strong demand and favorable zoning, a multi-level garage with rooftop activation or event space could dramatically enhance revenue while reinforcing the property’s position as the island’s entertainment nucleus. The surrounding corridor is experiencing unprecedented capital infusion. Margaritaville Resort has elevated hospitality demand. The $200M Arches Bayfront marina village is rising directly adjacent. Major resort redevelopments and luxury condo projects are underway across the island. Tourism has surpassed pre-Ian levels, with record visitation and sustained growth in ADR and occupancy. Old Seaport Place sits directly in the path of this momentum. From a capital markets perspective, the asset delivers a compelling 7.56% in-place cap rate on 2025 NOI — outperforming comparable Florida waterfront restaurant districts that have traded in the 4.5%–6.5% range — while offering diversified income across dining, marina, and parking revenue streams. With stabilized cash flow, hard coastal real estate, hurricane-tested operations, and multiple avenues for expansion, this is a fortress asset positioned for long-term appreciation and strong exit optionality. Opportunities of this scale and location rarely come to market. Old Seaport Place is not just a secure investment — it is control of the waterfront at the center of Fort Myers Beach’s resurgence.
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AREA SPECIALIST:
Area Specialist, REALTOR®
Broker Associate
GRI - Graduate Realtor Institute
Luxury of Naples Group at Premiere Plus Realty
Phone: (239) 280-1237
Website: https://www.realtyofnaples.com
Oleg Mikhailov has been a Naples resident since 1999 and is deeply familiar with the neighborhoods of Naples, Bonita Springs, and Marco Island. His extensive local knowledge allows him to expertly assist you in finding the perfect home for your family’s unique needs. With Oleg as your Real Estate Broker, you can trust that his dedication and expertise will make your experience seamless and enjoyable.
In addition to his real estate career, Oleg is an experienced engineer. This technical expertise enhances his ability to evaluate properties, providing valuable insights into a home’s structure and potential. His engineering background, combined with his work as a financial consultant for global real estate projects and business development programs, equips him with a rare skill set that ensures you’re getting the best advice and support in every transaction.
Outside of his professional career, Oleg was part of a professional auto racing team and has earned several international sports awards. His racing experience has honed his attention to detail and focus, qualities that translate directly to his work in real estate. His stress-free approach, paired with his guiding principle—a happy client is the most important thing—ensures that you’ll have a positive and rewarding experience.
Whether you’re buying or selling, Oleg Mikhailov is committed to making your real estate journey smooth, successful, and satisfying.
This property is courtesy of Realty One Group MVP.*Just Listed: new properties that came on the market within the last 30 days.
*Decrease/Increase: listing values that are being recorded within the last 30 days.
*Foreclosures/Short Sale: Please note, all properties are subject to bank approval. Buyers must be pre-approved or show proof of funds before submitting an offer.
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