Equipped Restaurant with Covered
1789 CR 424, Lake Panasoffkee, FL 33538
For Sale
New
$289,999
The sale combines the operating business, real estate, furnishings, and kitchen equipment.
Property Size780 SF
Price / SF$371.79
Days on Market2
Property Features for 1789 CR 424
General Information
Standard status
Size
Property subtype
Restaurant
Seating Capacity
Commercial Hood
Patio
Equipment Included
Additional Details
Furnished
Business Included
Currently Operating
Taxes and HOA fees
Annual Taxes
Building Details
Building Size
Year Built
Listing Agency:
FLAMINGO REAL ESTATE & MNGMT
Listed By:
Kody Ondriezek · License FL #3602850
(352) 461-4667
Source:
Elliman
Added: Nov 8
Last Checked: Nov 8 at 4:22PM
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 FLAMINGO REAL ESTATE & MNGMT
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Investment Insights
Based on property information with market context.
This 780± SF restaurant in Lake Panasoffkee is offered with its operating business, real estate, furnishings, and equipment. The interior includes dining space for approximately 25 guests, a customer service and register window, and a commercial kitchen outfitted with a hood and ventilation system, stove, fryers, pizza oven, dishwashing station, stainless steel prep surfaces, shelving, refrigeration, and reach-in freezers. A covered outdoor dining area has ceiling fans and a deck-style patio. The setup accommodates both dine-in and takeout service.
Built in 1967, the property is currently operating as a restaurant. The business and its operating equipment are included with the real estate in the offering.
Built in 1967, the property is currently operating as a restaurant. The business and its operating equipment are included with the real estate in the offering.
Key Highlights
- Restaurant, operating business, real estate, and furnishings offered together
- Approximately 780± SF building with seating for approximately 25
- Commercial kitchen includes hood and ventilation, stove, fryers, and pizza oven
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$9,846
Cap Rate
3.40%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$196,920
$196.9K
Cap Rate 7%
$140,657
$140.7K
Cap Rate 9%
$109,400
$109.4K
Market Conditions
NOI Build-Up for 780 SF
Gross rent
$14.0K $18.00/SF
− Vacancy
−$913 −$1.17/SF
EGI
$13.1K $16.83/SF
− OpEx
−$3.3K −$4.21/SF
NOI
$9.8K $12.62/SF
Area
Sumter County, FL
Vacancy
6.50%
Lease Rate
$18.00 /SF/Yr
Expense Ratio
25.00%
Simulate Cap Rate and NOI
Suggested Prices Based on Cap Rates
Cap Rate 5%
$196,920
Cap Rate 7%
$140,657
Cap Rate 9%
$109,400
Alternative Uses
Best Use
Specialty Retail
$140.7K
$123.1K – $164.1K
NOI $9,846 @ 7.0% cap · market cap 3.40%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$223.3K
$195.4K – $260.5K
NOI $15,631 @ 7.0% cap · market cap 5.39%
Zoning and permitted uses should be independently verified with authorities.
How Realmo checks its estimates
Property Analytics
Who owns this building?
See the owner, sales and loan history
Open Analytics
Current Use
Lease Details
Turnkey business
Opportunity
Yes
Commercial hood
Location Intelligence
Trade Area within ½ mile
41
Businesses Nearby
Balanced
Demand for This Use
Explore this area
Business Placement
Demographics for 33538, FL
5,096
Population
3,409
Households
1.5
Avg Household Size
50
Median Age
15%
College-Educated
85%
High-School Grad
89.0 sq mi
ZIP Area
57
Density / Sq Mi
$48,951
Median Household Income
$43,178
Median Earnings
$1,005
Median Rent
$157,200
Median Home Value
Check the figures for this property
Cap Rate, Value Estimation, Potential NOI and more
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Market
Vacancy Rate% for Retail in South region
Frequently Asked Questions
What type of property is this?
Conventional restaurant - The sale combines the operating business, real estate, furnishings, and kitchen equipment.
Where is this conventional restaurant located?
The property is located at 1789 CR 424 Lake Panasoffkee, FL.
What is the asking price?
The asking price for this property is $289,999.
What are key features of this property?
This property features: Restaurant, operating business, real estate, and furnishings offered together; Approximately 780± SF building with seating for approximately 25; Commercial kitchen includes hood and ventilation, stove, fryers, and pizza oven
