Turnkey 52-Seat
301 Cherry Street Panama City, FL 32401
For Sale
Contact for pricing
Turnkey 52-seat restaurant sale includes furnishings, fixtures, equipment, and kitchen inventory with wine and beer license.
Property Size2,096 SF
Price / SF$214.65
Days on Market74
Property Features for 301 Cherry Street
General Information
Standard status
Active
Size
2,096 SF
Property subtype
Special Purpose
Building Details
Year Built
1964
Listing Agency:
Century 21 Commander Realty Inc
(850) 596-0303
Listed By:
Cari Henry · License #FL
Source:
Crexi
Added: May 15
Changed: Jul 23
Last Checked: Jul 27 at 1:19PM
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 Commander Realty Inc
Investment Insights
Based on property information with market context.
This turnkey restaurant property offers a 52-seat dining capacity and comes fully equipped for immediate operations. The sale includes the real property along with interior furnishings, fixtures, equipment, and kitchen inventory, providing a complete setup for a new owner.
The restaurant is currently operating as a Thai restaurant. Its flexible layout and existing wine and beer license add operational versatility for a range of restaurant concepts.
Located in the Downtown Cove area at 301 Cherry Street, the property is offered as a single, ready-to-operate restaurant opportunity.
The restaurant is currently operating as a Thai restaurant. Its flexible layout and existing wine and beer license add operational versatility for a range of restaurant concepts.
Located in the Downtown Cove area at 301 Cherry Street, the property is offered as a single, ready-to-operate restaurant opportunity.
Key Highlights
- 52‑seat restaurant in the Downtown Cove area
- Sale includes real property plus all interior furnishings, fixtures, equipment, and kitchen inventory
- Currently operating as a Thai restaurant
Financial Insights For Specialty Retail
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 | $45.3k | $21.60 |
| − Vacancy | −$2.7k | −$1.30 |
| EGI | $42.6k | $20.30 |
| − OpEx | −$10.6k | −$5.08 |
| NOI | $31.9k | $15.23 |
2,096 SF · lease $21.60/SF/yr · vacancy 6.00% · expense 25.00%
Alternative Uses
Best Use
Specialty Retail
$456.0K
$399.0K – $532.0K
NOI $31,918 @ 7.0% cap · market cap 7.09%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$527.1K
$461.2K – $615.0K
NOI $36,898 @ 7.0% cap · market cap 8.20%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Location Intelligence
Current Use
Frequently Asked Questions
What type of property is this?
Conventional restaurant - Turnkey 52-seat restaurant sale includes furnishings, fixtures, equipment, and kitchen inventory with wine and beer license.
Where is this conventional restaurant located?
The property is located at 301 Cherry Street Panama City, FL.
What is the asking price?
The asking price for this property is $449,900.
What are key features of this property?
This property features: 52‑seat restaurant in the Downtown Cove area; Sale includes real property plus all interior furnishings, fixtures, equipment, and kitchen inventory; Currently operating as a Thai restaurant
