Single-Tenant Restaurant
For Sale
Contact for pricing
1705 8th Avenue West, Palmetto, FL 34221
Restaurant property at a West 8th Avenue address in Palmetto.
Property Size4,620 SF
Price / SF$387.45
Days on Market10
Property Features for 1705 8th Avenue West
General Information
Standard status
Active
Size
4,620 SF
Property subtype
Retail, Mixed Use, Special Purpose
Building Details
Tenancy
Single
Listing Agency:
Universal Holdings
Listed By:
Mark Caraher · License #FL
Source:
Crexi
Added: Aug 22
Changed: Aug 30
Last Checked: Aug 30 at 9:42PM
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 Universal Holdings
Investment Insights
Based on property information with market context.
This 4,620-square-foot commercial property is classified as a conventional restaurant and configured as a single-tenant asset. The property is located at 1705 8th Avenue West, Palmetto, FL 34221, providing a defined restaurant-focused footprint for a commercial operator or user.
Key Highlights
- 4,620‑square‑foot restaurant property
- Classified as a conventional restaurant
- Single‑tenant commercial asset
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
$60,873
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
3.40%
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%
$1,217,460
$1.2M
Cap Rate 7%
$869,614
$869.6K
Cap Rate 9%
$676,367
$676.4K
Market Conditions
NOI Build-Up for 4,620 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
$83.2K $18.00/SF
− Vacancy
−$2.0K −$0.43/SF
EGI
$81.2K $17.57/SF
− OpEx
−$20.3K −$4.39/SF
NOI
$60.9K $13.18/SF
Area
Manatee County, FL
Vacancy
2.40%
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%
$1,217,460
Cap Rate 7%
$869,614
Cap Rate 9%
$676,367
Alternative Uses
Best Use
Specialty Retail
$869.6K
$760.9K – $1.01M
NOI $60,873 @ 7.0% cap · market cap 3.40%
Second Best
Retail
$811.6K
$710.2K – $946.9K
NOI $56,815 @ 7.0% cap · market cap 3.17%
Theoretical Best
Office A
$1.36M
$1.19M – $1.59M
NOI $95,102 @ 7.0% cap · market cap 5.31%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
Single-tenant
Tenancy
Location Intelligence
Trade Area within ½ mile
527
Businesses Nearby
111k
Monthly Visits Nearby
Under-served
Demand for This Use
Explore this area
Business Placement
Foot Traffic Nearby
Shops & Services 50%
Groceries 42%
Home Improvements & Furnishings 8%
Publix
Groceries
46,233 visits/mo
0.5 miles
Circle K
Shops & Services
30,401 visits/mo
0.1 miles
Dollar Tree
Shops & Services
15,199 visits/mo
0.4 miles
Palmetto Hardware And More
Home Improvements & Furnishings
9,184 visits/mo
0.5 miles
Shell
Shops & Services
3,430 visits/mo
0.3 miles
Demographics for 34221, FL
48,082
Population
24,812
Households
1.9
Avg Household Size
45
Median Age
28%
College-Educated
91%
High-School Grad
53.9 sq mi
ZIP Area
892
Density / Sq Mi
$74,314
Median Household Income
$40,072
Median Earnings
$1,459
Median Rent
$298,200
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 - Restaurant property at a West 8th Avenue address in Palmetto.
Where is this conventional restaurant located?
The property is located at 1705 8th Avenue West Palmetto, FL.
What is the asking price?
The asking price for this property is $1,790,000.
What are key features of this property?
This property features: 4,620‑square‑foot restaurant property; Classified as a conventional restaurant; Single‑tenant commercial asset
