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    Turnkey Restaurant in Prime Location Title is generated by Realmo AI

    1200 8TH AVENUE SW, Largo, FL 33770

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    For Sale
    $799,900

    Mixed Use - LARGO, FL

    Type:Mixed Use
    Property size:
    3,951 SF
    Lot size:
    1.00 Acre
    Price / SF:
    $202/SF
    Added:
    Apr 22, 2025
    Days on Market:
    413
    Last Refresh:
    Jun 8 at 1:06 am

    Property Features for 1200 8TH AVENUE SW

    General Information

    Property type
    Commercial Sale
    Property subtype
    Mixed Use
    Appliances
    Dishwasher, Dryer, Refrigerator, Washer
    Standard status
    Active
    APN
    33-29-15-69135-000-0010
    Size
    3,951 SF
    Lot size
    1.00 Acre

    Taxes and HOA fees

    Tax Year
    2024
    Tax Annual Amount
    3159.12

    Utilities

    Cooling system
    Central Air

    Building Details

    Year built
    1959
    Building materials
    Block
    Architectural style
    Other

    We can help!

    Listing Contact
    Adam Kimbrell

    Listing agent Adam Kimbrell License #3312343

    Listing office REK REALTY 018 Oak Lake Dr, clearwater, FL

    Listing date Apr 22, 2025

    MLS# TB8377854 Listing URL

    Copyright © 2026 Stellar MLS. All rights reserved. All information provided by the listing agent/broker is deemed reliable but is not guaranteed and should be independently verified.

    HighLights

    • Turnkey pizza restaurant with all equipment included for immediate operation.
    • Prime Largo location directly across from Taylor Park and minutes from the beach.
    • High visibility with large main road signage and steady foot/vehicle traffic.
    • Over 1 acre lot with a 2‑story standalone building featuring indoor and outdoor dining.
    • Extra revenue potential from leased office space on the first floor and RV parking rentals.
    • Opportunity to maintain legally non‑conforming status as a restaurant or rezone to Medium Residential (up to 15 units per acre).

    Overview

    Located in Largo, Florida, across from Taylor Park, this standalone commercial property offers a fully equipped pizza restaurant space. Situated on a lot just over 1 acre, the two-story building features a restaurant and bar on the upper level, complete with indoor and outdoor seating and a full commercial kitchen with all equipment included. The first floor has leased office space. The property benefits from signage on the main road and is adjacent to Taylor Park, a disc golf course, and a soon-to-be public walking park. The site is zoned Condo - Commercial - Store. Extra revenue is generated from parking lot RV rentals. The property is minutes from the Gulf beaches. The property size is 3951 square feet. The current use of this property is legally non-conforming under the City of Largo. The site is presently zoned partly Medium Residential and partly Recreational. According to the City’s Planning Department, the only future land use/zoning change they would consider is a rezoning to full Medium Residential to make the property fully conforming. Medium Residential allows a density of up to 15 units per acre. If the property continues operating as a restaurant, it may maintain its legally non-conforming status; however, any change of use would likely require City approval and may not be approved.

    Local Financial Insights For Office B

    Simulate Cap Rate and NOI

    NOI Build-Up
    Vacancy
    income lost from leasable area expected to sit empty during the year — subtracted from gross rent.
    EGI (Effective Gross Income)
    gross rent minus vacancy losses — the realistic income before paying operating costs.
    OpEx (Operating Expenses)
    recurring costs to operate the property (property tax, insurance, utilities, maintenance, management) — excludes financing and capital improvements.
    NOI (Net Operating Income)
    income a property generates after operating costs but before financing and taxes.

    Component $ $/SF
    Gross rent $102.9k $26.04
    − Vacancy −$21.1k −$5.34
    EGI $81.8k $20.70
    − OpEx −$20.4k −$5.18
    NOI $61.3k $15.53
    3,951 SF · lease $26.04/SF/yr · vacancy 20.50% · expense 25.00%

    Alternative Uses

    Best Use
    Office B
    $876.4K
    $766.8K – $1.02M (±1% cap)
    NOI $61,345 @ 7.0% cap · market cap 7.67%
    Second Best
    Specialty Retail
    $627.4K
    $548.9K – $731.9K (±1% cap)
    NOI $43,915 @ 7.0% cap · market cap 5.49%
    Theoretical Best
    Office A
    $1.03M
    $899.2K – $1.20M (±1% cap)
    NOI $71,938 @ 7.0% cap · market cap 8.99%
    Zoning and permitted uses should be independently verified with local authorities.
    Property Profile Location Intelligence

    Current Use by Public Records

    Your Pizza Shop Restaurant Master Dennis Kelly Gym & Fitness Center Saltwater Crew Disc ... (Bike/Boat/Book/etc) Store

    Suggested Use

    Real Estate Agency Law Firm Restaurant Spa & Massage Center Dental Office Hair Salon Nail Salon Building Supply Gym & Fitness Center Auto Repair Shop

    Zoning and permitted uses should be independently verified with local authorities.

    Location Insight

    • Map
    • Local Demand
    City
    Largo
    County
    Pinellas
    State
    Florida
    Longitude
    -82.80262
    Latitude
    27.911318

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    FAQs

    What type of property is this?
    Turn key restaurant - Unique commercial property with restaurant, bar, and office space.
    Where is this turn key restaurant located?
    The property is located at 1200 8TH AVENUE SW Largo, FL.
    What is the asking price?
    The asking price for this property is $799,900.
    What are key features of this property?
    This property features: Turnkey pizza restaurant with all equipment included for immediate operation.; Prime Largo location directly across from Taylor Park and minutes from the beach.; High visibility with large main road signage and steady foot/vehicle traffic.
    (727) 239-6751
    We can help!
    Listing Contact
    Adam Kimbrell
    Real Estate License ID: 3312343
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    Realmo Value Estimations

    Realmo estimates a property’s market value using a proprietary methodology that incorporates public data and user-submitted information. This cumulative value is generated by integrating a variety of conventional and innovative methods. 

    Disclaimer

    These figures are not official appraisals and should not be used as a substitute for a valuation performed by a licensed appraiser.
    Actual market value may differ due to factors not captured in the data. Estimates are offered for informational purposes only, and users should conduct independent research before making financial or investment decisions.
    By using this feature, you acknowledge that Realmo is not responsible for actions taken based on these estimates.

    AI approach

    Realmo AI Method estimates property value using machine learning models trained on millions of comparable listings, transactions, and market signals. It analyzes property features, location intelligence data, and current market dynamics to predict the most probable market value in real time.

    Realmo CapRate Calculation

    Realmo calculates the Capitalization Rate (Cap Rate) to help estimate a property's potential return on investment. The Cap Rate is a fundamental metric in commercial real estate that measures the relationship between a property's net operating income and its market value.

    How We Calculate Cap Rate

    Cap Rate Formula:
    Cap Rate (%) = (Net Operating Income / Property Value) × 100

    Net Operating Income (NOI) Formula:
    NOI = Area × Lease Rate × (1 - Vacancy Rate) × (1 - Operating Expense Ratio)

    Components

    Net Operating Income (NOI) represents the annual income a property generates after operating expenses:

    • Area: Building square footage from property records
    • Lease Rate: Annual $/sqft based on market data for the property type and geographic location
    • Vacancy Rate: Percentage of unoccupied space based on market data for the property type and location
    • Operating Expense Ratio: Operating costs as a percentage of income, varies by property type

    Property Value is derived from:

    • Recent sale price (if available)
    • Statistical models using comparable sales
    • AI-powered valuation estimates

    Example Calculation

    For a 100,000 sqft Office Building:

    • Lease Rate: $25.00/sqft/year (market data for Office in this area)
    • Vacancy Rate: 8% (market data for Office in this area)
    • Operating Expense Ratio: 35% (typical for Office properties)
    • Property Value: $15,000,000

    Step 1: Calculate NOI

    NOI = 100,000 × $25.00 × (1 - 0.08) × (1 - 0.35)
    NOI = 100,000 × $25.00 × 0.92 × 0.65
    NOI = $1,495,000/year

    Step 2: Calculate Cap Rate

    Cap Rate = ($1,495,000 / $15,000,000) × 100
    Cap Rate = 9.97%

    Property Type Considerations

    Net Operating Income calculations vary by property type due to different operating expense ratios:

    • Office: Higher expenses (30-40%) for HVAC, utilities, maintenance
    • Retail: Moderate expenses (25-35%) for common area maintenance
    • Industrial/Warehouse: Lower expenses (15-25%) for minimal tenant services
    • Multifamily: Moderate expenses (35-45%) including property management
    • Self-Storage: Lower expenses (25-35%) due to minimal maintenance

    Market lease rates and vacancy rates are specific to each property type and geographic location, reflecting local market conditions.

    Disclaimer

    These calculations are estimates for informational purposes only and should not be used as a substitute for professional financial analysis or appraisal.

    • Cap Rate calculations depend on market data that may change over time
    • Actual operating expenses, lease rates, and vacancy rates may differ from market averages
    • Individual property conditions, lease terms, and tenant quality significantly impact actual NOI
    • Property value estimates are approximations and not official appraisals
    • Cap rates vary widely by market, property condition, and investment risk profile

    Professional Guidance Recommended: Before making any investment or financial decisions, consult with licensed appraisers, commercial real estate brokers, and financial advisors who can evaluate your specific property and circumstances.
    By using this feature, you acknowledge that Realmo is not responsible for investment decisions or actions taken based on these estimates.

    Cap approach

    Capitalization Method calculates value based on estimated net operating income (NOI) and applying a market-based capitalization rate (cap rate), we estimate what a typical investor might be willing to pay for it.

    Comparable approach

    Comparable estimate is based on recent sales of similar nearby properties, adjusted for factors like size, condition, and location.

    Relative

    Relative property class coefficient uses factors that account for typical price differences between various asset types (e.g., retail vs. industrial) to provide a more accurate market-aligned estimate.

    Geo

    Comparable Sales Method, enhanced by Geo coefficients — location-based adjustment factors that reflect differences in price levels across neighborhoods, cities, or regions ensuring a more accurate, market-sensitive valuation.

    Stat Estimate

    This method estimates value based on actual market adjusted recent (~5 years) sales of comparable properties around by location and property type.

    • Ranges - area data calculated by industry standard IQR Outlier Removal Method
    • Range-from: 75% of all similar sales ($/sqft) are above this value
    • Range-to: 75% of all similar sales ($/sqft) are below this value
    AI Estimate

    This method estimates value based on AI market estimation of comparable properties around by location and property type.

    • Ranges - area data calculated by industry standard IQR Outlier Removal Method
    • Range-from: 75% of all estimations ($/sqft) are above this value
    • Range-to: 75% of all estimations ($/sqft) are below this value
    Alternative use

    Estimate considers the property’s potential value if used for a different purpose-based on zoning, demand, and market feasibility.

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