Conventional Restaurant
For Sale
$1,100,000
1501 Clearwater Largo Road N, Largo, FL 33770
The sale includes an operating restaurant business together with the underlying land.
Property Size3,893 SF
Price / SF$282.56
Days on Market18
Property Features for 1501 Clearwater Largo Road N
General Information
Standard status
Active
Size
3,893 SF
Property subtype
Commercial
Additional Details
Business Included
Yes
Land Use
commercial, restaurant
Building Details
Year Built
2004
Listing Agency:
HUTCHESON REAL ESTATE
(727) 458-7070
Listed By:
David Hutcheson · License #468485
Source:
Realtygroupfl
Added: Aug 12
Changed: Aug 28
Last Checked: Aug 29 at 10:04AM
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 HUTCHESON REAL ESTATE
Investment Insights
Based on property information with market context.
This conventional restaurant property combines an operating food-service business with the land beneath it. The restaurant has operated at the site for over 30 years, providing an established commercial use and an existing operating history. The building was constructed in 2004.
The property is located at 1501 Clearwater Largo Road N in Largo, Florida. The sale includes both the restaurant operation and the real estate, allowing the next owner to continue the current use or pursue a new restaurant concept, subject to applicable zoning and approvals.
The property is located at 1501 Clearwater Largo Road N in Largo, Florida. The sale includes both the restaurant operation and the real estate, allowing the next owner to continue the current use or pursue a new restaurant concept, subject to applicable zoning and approvals.
Key Highlights
- Restaurant business and underlying land included in the sale
- Operating at the site for over 30 years
- Building constructed in 2004
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
$43,271
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
3.93%
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%
$865,420
$865.4K
Cap Rate 7%
$618,157
$618.2K
Cap Rate 9%
$480,789
$480.8K
Market Conditions
NOI Build-Up for 3,893 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
$60.7K $15.60/SF
− Vacancy
−$3.0K −$0.78/SF
EGI
$57.7K $14.82/SF
− OpEx
−$14.4K −$3.70/SF
NOI
$43.3K $11.11/SF
Area
Pinellas County, FL
Vacancy
5.00%
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%
$865,420
Cap Rate 7%
$618,157
Cap Rate 9%
$480,789
Alternative Uses
Best Use
Specialty Retail
$618.2K
$540.9K – $721.2K
NOI $43,271 @ 7.0% cap · market cap 3.93%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$1.01M
$886.0K – $1.18M
NOI $70,882 @ 7.0% cap · market cap 6.44%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
Turnkey business
Opportunity
Location Intelligence
Trade Area within ½ mile
876
Businesses Nearby
Under-served
Demand for This Use
Explore this area
Business Placement
Demographics for 33770, FL
25,475
Population
13,417
Households
1.9
Avg Household Size
50
Median Age
26%
College-Educated
90%
High-School Grad
5.2 sq mi
ZIP Area
4,899
Density / Sq Mi
$58,071
Median Household Income
$39,354
Median Earnings
$1,481
Median Rent
$245,200
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 - The sale includes an operating restaurant business together with the underlying land.
Where is this conventional restaurant located?
The property is located at 1501 Clearwater Largo Road N Largo, FL.
What is the asking price?
The asking price for this property is $1,100,000.
What are key features of this property?
This property features: Restaurant business and underlying land included in the sale; Operating at the site for over 30 years; Building constructed in 2004
