Built-Out Restaurant with Full
New
For Sale
$345,000
11051 SOUTHERN Boulevard, Royal Palm Beach, FL
Business Opportunity, Royal Palm Beach, FL
Property Size1,950 SF
Price / SF$176.92
Days on Market6
Property Features for 11051 SOUTHERN Boulevard
General Information
Property type
Commercial Sale
Property subtype
Other
Zoning
CG (city)
Subdivision
5530
Standard status
Active
Size
1,950 SF
Utilities
Sewer type
Public Sewer
Heating system
Electric (Heating), Central, Exhaust Fan (Heating)
Cooling system
Central Air, Electric
Water source
Public
Building Details
Year built
2023
Floors in Building
1
Building materials
CBS
Roof type
Flat
Listing Agency:
Illustrated Properties LLC (We
(561) 793-2300
Listed By:
Purnima Patel · License #3642692
(561) 528-5222
Added: Sep 15
Changed: Sep 20
Last Checked: Sep 20 at 5:06PM
MLS# B26076667
Copyright © 2026 BeachesMLS. All rights reserved. All information provided by the listing agent/broker is deemed reliable but is not guaranteed and should be independently verified.
Investment Insights
Based on property information with market context.
The 1,950-square-foot restaurant at 11051 Southern Boulevard includes approximately 150 seats, a full-service bar, commercial kitchen, restaurant equipment, furniture, fixtures, and completed interior improvements. The property features contemporary finishes, central air conditioning, electric service, a flat roof, and CBS construction. A 4COP full liquor license is included, supporting both dining and beverage service.
Located in Royal Palm Beach, the property has public water and public sewer. It was built in 2023 and carries CG zoning through the city. The existing layout includes a spacious dining area and bar, with infrastructure identified for catering, private events, takeout, and delivery, subject to applicable lease, zoning, licensing, and landlord approvals.
Located in Royal Palm Beach, the property has public water and public sewer. It was built in 2023 and carries CG zoning through the city. The existing layout includes a spacious dining area and bar, with infrastructure identified for catering, private events, takeout, and delivery, subject to applicable lease, zoning, licensing, and landlord approvals.
Key Highlights
- 1,950 SF restaurant with approximately 150 seats
- 4COP full liquor license included
- Full‑service bar and commercial kitchen
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
$21,052
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
6.10%
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%
$421,040
$421.0K
Cap Rate 7%
$300,743
$300.7K
Cap Rate 9%
$233,911
$233.9K
Market Conditions
NOI Build-Up for 1,950 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
$31.8K $16.32/SF
− Vacancy
−$1.8K −$0.90/SF
EGI
$30.1K $15.42/SF
− OpEx
−$9.0K −$4.63/SF
NOI
$21.1K $10.80/SF
Area
Palm Beach County, FL
Vacancy
5.50%
Lease Rate
$16.32 /SF/Yr
Expense Ratio
30.00%
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%
$421,040
Cap Rate 7%
$300,743
Cap Rate 9%
$233,911
Alternative Uses
Best Use
Specialty Retail
$536.3K
$469.2K – $625.7K
NOI $37,539 @ 7.0% cap · market cap 10.88%
Second Best
Industrial
$300.7K
$263.2K – $350.9K
NOI $21,052 @ 7.0% cap · market cap 6.10%
Theoretical Best
Office A
$1.37M
$1.20M – $1.60M
NOI $96,131 @ 7.0% cap · market cap 27.86%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Current Use
Lease Details
Turnkey business
Opportunity
Yes
Liquor license
Location Intelligence
Trade Area within ½ mile
460
Businesses Nearby
Under-served
Demand for This Use
Explore this area
Business Placement
Market
Vacancy Rate% for Retail in South region
Questions? Ask Rey
Realmo’s AI knows this listing — price, zoning, demand, history. Ask anything.
Frequently Asked Questions
What type of property is this?
Conventional restaurant - Modern restaurant with a full-service bar, commercial kitchen, and included furnishings and equipment.
Where is this conventional restaurant located?
The property is located at 11051 SOUTHERN Boulevard Royal Palm Beach, FL.
What is the asking price?
The asking price for this property is $345,000.
What are key features of this property?
This property features: 1,950 SF restaurant with approximately 150 seats; 4COP full liquor license included; Full‑service bar and commercial kitchen
