Corner Restaurant with Adaptable
For Sale
Contact for pricing
125 N Main Street, Hastings, FL 32145
Corner restaurant property with a dine-in/takeout first floor and separate second- and third-floor space with exterior access.
Property Size3,964 SF
Price / SF$226.79
Days on Market125
Property Features for 125 N Main Street
General Information
Standard status
Active
Size
3,964 SF
Total Parking Spaces
26
Property subtype
Retail
Zoning
CG
Occupancy
100%
Investment Type
Owner/User
Net Operating Income
$114,550
Site & Location
Traffic Count
24,000 vehicles/day
Highway Access
Yes
Road Access
Yes
Utilities to Site
Yes
Additional Details
Business Included
Yes
Sprinkler System
Yes
Building Details
Year Built
2024
Year Renovated
2025
Stories
3
Units
3
Tenancy
Single
Listing Agency:
Century 21 J W Morton Real Estate Inc
Listed By:
Rich Fernley · License #FL
(352) 464-2664
Source:
Crexi
Added: May 8
Changed: Sep 7
Last Checked: Sep 8 at 7:00AM
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 Century 21 J W Morton Real Estate Inc
Investment Insights
Based on property information with market context.
This for-sale restaurant and mixed-use property includes an established first-floor operation designed for both dine-in and takeout service. The restaurant features a gas-fired pizza oven, stainless prep areas, commercial refrigeration, a three-compartment sink system, dedicated prep and storage areas, and a POS system. An additional ice cream component includes its own entrance and walk-up service window.
The second and third floors provide adaptable space with approximately four bedrooms and two bathrooms, along with separate exterior access. Recent capital improvements include electrical upgrades with additional circuits and panel capacity, a covered roof addition over the dining area, interior renovations, wiring of the 2nd and 3rd floors, repiping of new fixtures, NFPA 13D wet sprinkler system improvements, and an outdoor dining deck constructed with seating for approximately 48 guests.
The property has approximately 248 feet of corner frontage and is located approximately 400 feet from the signalized intersection of SR 207 and CR 13/N Main Street. Public water and sewer service is provided, and the space is stated to be suitable for multiple uses permitted under St. Johns County Commercial General (CG) zoning. Historical operating statements are available to qualified buyers, and all financial performance should be independently verified by the buyer.
The second and third floors provide adaptable space with approximately four bedrooms and two bathrooms, along with separate exterior access. Recent capital improvements include electrical upgrades with additional circuits and panel capacity, a covered roof addition over the dining area, interior renovations, wiring of the 2nd and 3rd floors, repiping of new fixtures, NFPA 13D wet sprinkler system improvements, and an outdoor dining deck constructed with seating for approximately 48 guests.
The property has approximately 248 feet of corner frontage and is located approximately 400 feet from the signalized intersection of SR 207 and CR 13/N Main Street. Public water and sewer service is provided, and the space is stated to be suitable for multiple uses permitted under St. Johns County Commercial General (CG) zoning. Historical operating statements are available to qualified buyers, and all financial performance should be independently verified by the buyer.
Key Highlights
- 2024‑built corner restaurant property with approx. 248 FT of corner frontage
- First‑floor restaurant setup for dine‑in and takeout, including gas‑fired pizza oven, commercial refrigeration, and POS system
- Separate ice cream component with its own entrance and walk‑up service window
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
$48,002
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
5.34%
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%
$960,040
$960.0K
Cap Rate 7%
$685,743
$685.7K
Cap Rate 9%
$533,356
$533.4K
Market Conditions
NOI Build-Up for 3,964 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
$71.4K $18.00/SF
− Vacancy
−$7.3K −$1.85/SF
EGI
$64.0K $16.15/SF
− OpEx
−$16.0K −$4.04/SF
NOI
$48.0K $12.11/SF
Area
St. Johns County, FL
Vacancy
10.30%
Lease Rate
$18.00 /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%
$960,040
Cap Rate 7%
$685,743
Cap Rate 9%
$533,356
Alternative Uses
Best Use
Specialty Retail
$685.7K
$600.0K – $800.0K
NOI $48,002 @ 7.0% cap · market cap 5.34%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$1.06M
$925.2K – $1.23M
NOI $74,016 @ 7.0% cap · market cap 8.23%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
24,000 VPD
Traffic count
Turnkey business
Opportunity
Yes
Sprinkler system
Yes
Highway access
Yes
Paved road access
Yes
Utilities to site
Location Intelligence
Trade Area within ½ mile
171
Businesses Nearby
41k
Monthly Visits Nearby
Well-served
Demand for This Use
Explore this area
Business Placement
Foot Traffic Nearby
Shops & Services 88%
Dining 12%
Circle K
Shops & Services
22,275 visits/mo
0.2 miles
Dollar General
Shops & Services
6,870 visits/mo
0.1 miles
Food Mart
Shops & Services
4,479 visits/mo
0.2 miles
SUBWAY
Dining
2,415 visits/mo
0.1 miles
Domino's Pizza
Dining
2,392 visits/mo
0.1 miles
Demographics for 32145, FL
5,608
Population
2,482
Households
2.3
Avg Household Size
40
Median Age
17%
College-Educated
86%
High-School Grad
89.6 sq mi
ZIP Area
63
Density / Sq Mi
$81,931
Median Household Income
$46,646
Median Earnings
$1,079
Median Rent
$194,400
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 - Corner restaurant property with a dine-in/takeout first floor and separate second- and third-floor space with exterior access.
Where is this conventional restaurant located?
The property is located at 125 N Main Street Hastings, FL.
What is the asking price?
The asking price for this property is $899,000.
What are key features of this property?
This property features: 2024‑built corner restaurant property with approx. 248 FT of corner frontage; First‑floor restaurant setup for dine‑in and takeout, including gas‑fired pizza oven, commercial refrigeration, and POS system; Separate ice cream component with its own entrance and walk‑up service window
