Historic Multi-Level Restaurant
18616 NW 241ST St High Springs, FL 32643
18616 NW 241ST St, High Springs, FL, 32643
$275,000
For Sale
$275,000
Historic 3,114 SF multi-level building with a full commercial kitchen downstairs and an upstairs room with seating for about 150.
Property Size3,114 SF
Price / SF$88.31
Days on Market29
Property Features for 18616 NW 241ST St
General Information
- Standard status
- Active
- Size
- 3,114 SF
- Property subtype
- Commercial
Building Details
- Year Built
- 1940
Listing agency
(352) 538-0111
Listed by
Non-Member Agent
Source
Elliman
Added: Jun 23 Updated: Jul 21 at 12:21AM Checked: Jul 21 at 6:59AM
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 Non-Member Agent
Investment Insights
Based on property information with market context.
This historic, multi-level building is offered for sale with approximately 3,114 square feet and flexible interior layouts suited for gatherings and events. The lower level includes a full kitchen, a large storage room, a banquet-style gathering area, and two restrooms. The upper level provides a spacious open room with seating for approximately 150 people, with existing stadium seating that can remain or be removed to support different operational needs.
The property is positioned in a highly visible location on a major highway, just blocks from High Springs’ walkable downtown district. Bike score is 36 (somewhat bikeable) and walk score is 23 (car-dependent).
Reported improvements include an updated electrical system (2005), a metal roof installation (2010), and HVAC service for both levels (upper in 2005 and lower in 2012), along with plumbing updates in 2024. C-2 zoning is cited as allowing a wide range of commercial, professional, retail, assembly, mixed-use, and potential residential uses.
The property is positioned in a highly visible location on a major highway, just blocks from High Springs’ walkable downtown district. Bike score is 36 (somewhat bikeable) and walk score is 23 (car-dependent).
Reported improvements include an updated electrical system (2005), a metal roof installation (2010), and HVAC service for both levels (upper in 2005 and lower in 2012), along with plumbing updates in 2024. C-2 zoning is cited as allowing a wide range of commercial, professional, retail, assembly, mixed-use, and potential residential uses.
Key Highlights
- Historic 3,114 SF multi‑level commercial building (built 1940) with separate lower and upper spaces
- Lower level includes a full kitchen, large storage room, banquet‑style gathering area, and two restrooms
- Upper level features an open room with seating for approximately 150 people; stadium seating can remain or be removed
Local Financial Insights For Industrial
Simulate Cap Rate and NOI
NOI Build-Up
- 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.
| Component | $ | $/SF |
|---|---|---|
| Gross rent | $31.8k | $10.20 |
| − Vacancy | −$1.6k | −$0.51 |
| EGI | $30.2k | $9.69 |
| − OpEx | −$9.1k | −$2.91 |
| NOI | $21.1k | $6.78 |
3,114 SF · lease $10.20/SF/yr · vacancy 5.00% · expense 30.00%
Alternative Uses
Best Use
Specialty Retail
$529.7K
$463.5K – $618.0K
NOI $37,078 @ 7.0% cap · market cap 13.48%
Second Best
Industrial
$301.7K
$264.0K – $352.0K
NOI $21,122 @ 7.0% cap · market cap 7.68%
Theoretical Best
Office A
$785.0K
$686.9K – $915.9K
NOI $54,953 @ 7.0% cap · market cap 19.98%
Zoning and permitted uses should be independently verified with local authorities.
Property Analytics
Location Intelligence
Current Use by Public Records
Redeemer Free Methodist ...
Church
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FAQs
What type of property is this?
Theater & concert hall - Historic 3,114 SF multi-level building with a full commercial kitchen downstairs and an upstairs room with seating for about 150.
Where is this theater & concert hall located?
The property is located at 18616 NW 241ST St High Springs, FL.
What is the asking price?
The asking price for this property is $275,000.
What are key features of this property?
This property features: Historic 3,114 SF multi‑level commercial building (built 1940) with separate lower and upper spaces; Lower level includes a full kitchen, large storage room, banquet‑style gathering area, and two restrooms; Upper level features an open room with seating for approximately 150 people; stadium seating can remain or be removed
