Restaurant Building on State
For Sale
$699,900
115 NW 1ST St, Trenton, FL 32693
3,672 SF restaurant in Trenton, Florida, for sale.
Property Size3,672 SF
Lot Size0.46 Acres
Price / SF$190.60
Days on Market152
Property Features for 115 NW 1ST St
General Information
Standard status
Active
Size
3,672 SF
Lot size
0.46 Acres
Property subtype
Commercial
Taxes and HOA fees
Annual Taxes
$3,343
Building Details
Building Size
3,672 SF
Year Built
1920
Stories
1
Listing Agency:
PRISTINE PROPERTIES TRENTON
(352) 233-8484
Listed By:
David Padot, Jr · License #3052280
(352) 233-8484
Source:
Elliman
Added: Mar 24
Changed: Aug 17
Last Checked: Aug 17 at 10:17AM
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 PRISTINE PROPERTIES TRENTON
Investment Insights
Based on property information with market context.
This 3,672 square foot heated and cooled restaurant building is located on the high-traffic corridor of State Road 26 in Trenton, offering high visibility and accessibility. The building's architecture exudes a warm, hometown feel. The thoughtfully designed layout offers an effortless flow between expansive dining areas. The space has been tastefully remodeled with attention to detail, blending functionality with aesthetic appeal. It features a spacious commercial kitchen ready to support high-volume service, along with a large front porch. An additional covered outdoor area provides the perfect setting for live music, special events, or expanded dining. Ample on-site parking ensures convenience for patrons, while the prime corner location maximizes exposure. Positioned just 30 minutes west of Gainesville, Trenton continues to attract growth thanks to its lower tax base, small-town charm, and close proximity to the region’s renowned rivers, springs, and outdoor recreation. This property is ideal for restaurateurs, investors, or entrepreneurs looking to establish or expand in a high-demand area.
Key Highlights
- High‑traffic location on State Road 26 with exceptional visibility and accessibility.
- Spacious 3,672 sq ft heated and cooled restaurant building with thoughtfully designed layout.
- Fully equipped commercial kitchen ready for high‑volume service.
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
$43,723
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
6.25%
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%
$874,460
$874.5K
Cap Rate 7%
$624,614
$624.6K
Cap Rate 9%
$485,811
$485.8K
Market Conditions
NOI Build-Up for 3,672 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
$61.7K $16.80/SF
− Vacancy
−$3.4K −$0.92/SF
EGI
$58.3K $15.88/SF
− OpEx
−$14.6K −$3.97/SF
NOI
$43.7K $11.91/SF
Area
Gilchrist County, FL
Vacancy
5.50%
Lease Rate
$16.80 /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%
$874,460
Cap Rate 7%
$624,614
Cap Rate 9%
$485,811
Alternative Uses
Best Use
Specialty Retail
$624.6K
$546.5K – $728.7K
NOI $43,723 @ 7.0% cap · market cap 6.25%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$909.5K
$795.8K – $1.06M
NOI $63,664 @ 7.0% cap · market cap 9.10%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Location Intelligence
Trade Area within ½ mile
336
Businesses Nearby
Balanced
Demand for This Use
Explore this area
Business Placement
Demographics for 32693, FL
12,815
Population
4,908
Households
2.6
Avg Household Size
42
Median Age
16%
College-Educated
87%
High-School Grad
200.7 sq mi
ZIP Area
64
Density / Sq Mi
$64,128
Median Household Income
$36,361
Median Earnings
$919
Median Rent
$182,300
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 - 3,672 SF restaurant in Trenton, Florida, for sale.
Where is this conventional restaurant located?
The property is located at 115 NW 1ST St Trenton, FL.
What is the asking price?
The asking price for this property is $699,900.
What are key features of this property?
This property features: High‑traffic location on State Road 26 with exceptional visibility and accessibility.; Spacious 3,672 sq ft heated and cooled restaurant building with thoughtfully designed layout.; Fully equipped commercial kitchen ready for high‑volume service.
