Dual-Frontage Restaurant
For Sale
$1,250,000
1148 Co Rd 309 1, Crescent City, FL 32112
Restaurant property with dual frontage and access from two county roads.
Property Size3,205 SF
Price / SF$390.02
Days on Market64
Property Features for 1148 Co Rd 309 1
General Information
Standard status
Active
Size
3,205 SF
Property subtype
Commercial
Building Details
Year Built
1973
Listing Agency:
TIMBER TO TIDES REALTY LLC
Listed By:
ANDREW REED MATHEWS · License #3384627
(386) 937-1471
Source:
Viewhomesonameliaisland
Added: Jul 8
Changed: Sep 8
Last Checked: Aug 30 at 6:28PM
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 restaurant property is presented for sale with dual frontage and access from both CR 309 and CR 308, providing two points of arrival for customers or service routing.
The surrounding area is described as somewhat bikeable (BikeScore 28) and car-dependent (WalkScore 4), which can be relevant for tenant operations and customer access planning.
The surrounding area is described as somewhat bikeable (BikeScore 28) and car-dependent (WalkScore 4), which can be relevant for tenant operations and customer access planning.
Key Highlights
- Restaurant property built in 1973
- Dual frontage with access from CR 309 and CR 308
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
Location Intelligence
Trade Area within ½ mile
7
Businesses Nearby
Well-served
Demand for This Use
Explore this area
Business Placement
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
Realmo’s AI knows this listing — price, zoning, demand, history. Ask anything.
Frequently Asked Questions
What type of property is this?
Conventional restaurant - Restaurant property with dual frontage and access from two county roads.
Where is this conventional restaurant located?
The property is located at 1148 Co Rd 309 1 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: Restaurant property built in 1973; Dual frontage with access from CR 309 and CR 308
