Turnkey Restaurant with Liquor
For Sale
$1,250,000
1-1148 Co Rd 309, Crescent City, FL 32112
Turnkey restaurant plus a detached liquor store on a dual-frontage site with access from CR 309 and CR 308.
Property Size3,205 SF
Lot Size5.75 Acres
Price / SF$390.02
Days on Market52
Property Features for 1-1148 Co Rd 309
General Information
Standard status
Active
Size
3,205 SF
Lot size
5.75 Acres
Restaurant
Commercial Hood
Yes
Liquor License
Yes
Additional Details
Furnished
Yes
Business Included
Yes
Road Access
Yes
Taxes and HOA fees
Annual Taxes
$4,040
Amenities
turnkey restaurant
detached liquor store
commercial kitchen
ample parking
dual frontage
Listing Agency:
TIMBER TO TIDES REALTY LLC
Listed By:
ANDREW REED MATHEWS · License #3384627
(386) 937-1471
Source:
Exprealty
Added: Jul 17
Changed: Aug 20
Last Checked: Sep 5 at 1:02PM
Displayed information is deemed reliable but is not guaranteed and should be independently verified. All listing content including descriptions, pricing, images are the copyrighted material of TIMBER TO TIDES REALTY LLC
Investment Insights
Based on property information with market context.
This property offers a turnkey, ready-to-operate restaurant with a full commercial kitchen and associated front-of-house setup. The restaurant includes a bar and dining area, along with kitchen equipment such as a commercial pizza oven, walk-in coolers and freezers, exhaust hoods, fryers, flat-tops, conventional ovens, prep stations, and dishwashing facilities.
A detached retail liquor store is located on the same site for package liquor sales. The property also includes a 5COP liquor license included with the sale.
The site features dual road frontage and direct access points from both CR 309 and CR 308, supported by a cleared parking area with on-site circulation between the entrances. The overall through-lot layout provides additional space for continued development or expansion on the property.
A detached retail liquor store is located on the same site for package liquor sales. The property also includes a 5COP liquor license included with the sale.
The site features dual road frontage and direct access points from both CR 309 and CR 308, supported by a cleared parking area with on-site circulation between the entrances. The overall through-lot layout provides additional space for continued development or expansion on the property.
Key Highlights
- 5.75‑acre dual‑frontage commercial site with direct access from both CR 309 and CR 308 (Welaka/Fruitland area)
- Fully operational, ready‑to‑open restaurant with dining room and bar setup plus front‑of‑house furniture and POS systems
- Restaurant includes a chef’s dream commercial kitchen with a pizza oven, walk‑in coolers/freezers, exhaust hood, fryers, flat‑tops, and dishwashing facilities
Financial Insights
Estimated NOI and Cap Rate
NOI = area × lease_rate × (100 − vacancy) / 100 × (1 − expense_ratio). Net Operating Income — what the owner takes home each year before mortgage payments and income tax. Effective rent (asking rent minus vacancy losses) minus operating costs (taxes, insurance, maintenance, management).
NOI / Yr
$35,549
Cap rate = NOI / list price × 100. Capitalization rate — annual return on a fully cash purchase, before financing. NOI divided by price. Higher means more income per dollar invested, but usually also more risk or older condition. 5–8% is typical for stabilized commercial property; double digits often signal distressed deals.
Cap Rate
2.84%
Suggested Prices Based on Cap Rates
Cap rates vary significantly by property type, market, and asset quality.
Typical U.S. stable-market ranges:
Multifamily — 4.5% to 6.5% (Class A in primary markets often sub-5%; Class C in secondary markets 6%+)
Industrial / Logistics — 5.0% to 7.0% (compressed heavily in recent years due to e-commerce demand)
Office — 6.5% to 9%+ (wide spread post-2020; CBD Class A vs. suburban Class B varies dramatically)
Retail — 5.5% to 8.5% (grocery-anchored on the low end, unanchored strip centers higher)
Hospitality / Hotels — 7.5% to 10%+ (higher due to operational risk)
Self-Storage — 5.5% to 7.5%
Medical Office — 6.0% to 7.5%
Net Lease (single tenant, credit) — 5.0% to 7.0% depending on tenant credit and lease term
Rules of thumb:
Primary markets (NYC, SF, LA, Boston, DC) trade at lower cap rates than secondary/tertiary markets, often by 100–200 bps (bps, aka basis points; 1 bp = 0.01%).
Class A assets trade ~50–150 bps tighter than Class B, and Class B tighter than Class C.
Cap rates move inversely with price — a lower cap rate means a higher price for the same NOI.
Spread to the 10-year Treasury is a common benchmark; historically 200–400 bps over the 10-year.
Cap Rate 5%
$710,980
$711.0K
Cap Rate 7%
$507,843
$507.8K
Cap Rate 9%
$394,989
$395.0K
Market Conditions
NOI Build-Up for 3,205 SF
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.
Gross rent
$50.0K $15.60/SF
− Vacancy
−$2.6K −$0.81/SF
EGI
$47.4K $14.79/SF
− OpEx
−$11.8K −$3.70/SF
NOI
$35.5K $11.09/SF
Area
Putnam County, FL
Vacancy
5.20%
Lease Rate
$15.60 /SF/Yr
Expense Ratio
25.00%
Simulate Cap Rate and NOI
Suggested Prices Based on Cap Rates
Cap rates vary significantly by property type, market, and asset quality.
Typical U.S. stable-market ranges:
Multifamily — 4.5% to 6.5% (Class A in primary markets often sub-5%; Class C in secondary markets 6%+)
Industrial / Logistics — 5.0% to 7.0% (compressed heavily in recent years due to e-commerce demand)
Office — 6.5% to 9%+ (wide spread post-2020; CBD Class A vs. suburban Class B varies dramatically)
Retail — 5.5% to 8.5% (grocery-anchored on the low end, unanchored strip centers higher)
Hospitality / Hotels — 7.5% to 10%+ (higher due to operational risk)
Self-Storage — 5.5% to 7.5%
Medical Office — 6.0% to 7.5%
Net Lease (single tenant, credit) — 5.0% to 7.0% depending on tenant credit and lease term
Rules of thumb:
Primary markets (NYC, SF, LA, Boston, DC) trade at lower cap rates than secondary/tertiary markets, often by 100–200 bps (bps, aka basis points; 1 bp = 0.01%).
Class A assets trade ~50–150 bps tighter than Class B, and Class B tighter than Class C.
Cap rates move inversely with price — a lower cap rate means a higher price for the same NOI.
Spread to the 10-year Treasury is a common benchmark; historically 200–400 bps over the 10-year.
Cap Rate 5%
$710,980
Cap Rate 7%
$507,843
Cap Rate 9%
$394,989
Alternative Uses
Best Use
Specialty Retail
$507.8K
$444.4K – $592.5K
NOI $35,549 @ 7.0% cap · market cap 2.84%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$834.7K
$730.3K – $973.8K
NOI $58,427 @ 7.0% cap · market cap 4.67%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Current Use
Lease Details
Turnkey business
Opportunity
Yes
Paved road access
Yes
Commercial hood
Yes
Liquor license
Location Intelligence
Trade Area within ½ mile
36
Businesses Nearby
11k
Monthly Visits Nearby
Well-served
Demand for This Use
Explore this area
Business Placement
Foot Traffic Nearby
Shops & Services 84%
Dining 16%
Mobil
Shops & Services
4,635 visits/mo
0.1 miles
Dollar General
Shops & Services
4,370 visits/mo
0.0 miles
Krispy Krunchy Chicken
Dining
1,717 visits/mo
0.1 miles
Demographics for 32112, FL
7,460
Population
3,866
Households
1.9
Avg Household Size
45
Median Age
10%
College-Educated
69%
High-School Grad
51.5 sq mi
ZIP Area
145
Density / Sq Mi
$39,247
Median Household Income
$27,238
Median Earnings
$743
Median Rent
$150,000
Median Home Value
Market
Vacancy Rate% for Retail in South region
Questions? Ask Rey
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Frequently Asked Questions
What type of property is this?
Conventional restaurant - Turnkey restaurant plus a detached liquor store on a dual-frontage site with access from CR 309 and CR 308.
Where is this conventional restaurant located?
The property is located at 1-1148 Co Rd 309 Crescent City, FL.
What is the asking price?
The asking price for this property is $1,250,000.
What are key features of this property?
This property features: 5.75‑acre dual‑frontage commercial site with direct access from both CR 309 and CR 308 (Welaka/Fruitland area); Fully operational, ready‑to‑open restaurant with dining room and bar setup plus front‑of‑house furniture and POS systems; Restaurant includes a chef’s dream commercial kitchen with a pizza oven, walk‑in coolers/freezers, exhaust hood, fryers, flat‑tops, and dishwashing facilities
