Restaurant Space with Existing Kitchen and
For Sale
$495,000
38-39-117 Moorings Dr, Lantana, FL 33462
Mixed-use restaurant space with existing kitchen and dining areas, plus covered rear parking for customer access.
Property Size1,055 SF
Price / SF$469.19
Days on Market199
Property Features for 38-39-117 Moorings Dr
General Information
Standard status
Active
Size
1,055 SF
Taxes and HOA fees
Annual Taxes
$6,762
Listing Agency:
MJI Realty Group LLC
(561) 859-5631
Listed By:
Marc Martinangelo · License #3420294
(561) 859-1484
Source:
Exprealty
Added: Feb 28
Changed: Sep 6
Last Checked: Sep 15 at 12:21PM
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 MJI Realty Group LLC
Investment Insights
Based on property information with market context.
Restaurant-ready mixed-use commercial space at 38-39-117 Moorings Dr, Lantana, FL, featuring an existing kitchen and dining area suited for food and beverage concepts. At 1,055 SF, the layout supports a range of restaurant-style uses, including cafe, juice and smoothie bar, bakery, ice cream concept, or boutique restaurant.
The property is described as having flexible mixed-use zoning, expanding use possibilities to include hybrid retail or wellness concepts. With much of the needed infrastructure already in place, the space can support reduced buildout time and expense while remaining adaptable for complementary formats.
Customer access is supported by covered rear parking. Ownership also includes access to association amenities, adding additional convenience for day-to-day use.
The property is described as having flexible mixed-use zoning, expanding use possibilities to include hybrid retail or wellness concepts. With much of the needed infrastructure already in place, the space can support reduced buildout time and expense while remaining adaptable for complementary formats.
Customer access is supported by covered rear parking. Ownership also includes access to association amenities, adding additional convenience for day-to-day use.
Key Highlights
- 1,055 SF mixed‑use restaurant space with existing kitchen and dining area
- Existing kitchen and dining area supports cafe, smoothie, bakery, ice cream, or boutique restaurant concepts
- Flexible mixed‑use zoning allows hybrid retail or wellness‑oriented concepts
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
$20,310
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
4.10%
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%
$406,200
$406.2K
Cap Rate 7%
$290,143
$290.1K
Cap Rate 9%
$225,667
$225.7K
Market Conditions
NOI Build-Up for 1,055 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
$29.1K $27.60/SF
− Vacancy
−$2.0K −$1.93/SF
EGI
$27.1K $25.67/SF
− OpEx
−$6.8K −$6.42/SF
NOI
$20.3K $19.25/SF
Area
Palm Beach County, FL
Vacancy
7.00%
Lease Rate
$27.60 /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%
$406,200
Cap Rate 7%
$290,143
Cap Rate 9%
$225,667
Alternative Uses
Best Use
Specialty Retail
$290.1K
$253.9K – $338.5K
NOI $20,310 @ 7.0% cap · market cap 4.10%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$743.0K
$650.1K – $866.8K
NOI $52,009 @ 7.0% cap · market cap 10.51%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Current Use
Location Intelligence
Trade Area within ½ mile
1,091
Businesses Nearby
31k
Monthly Visits Nearby
Under-served
Demand for This Use
Explore this area
Business Placement
Foot Traffic Nearby
Shops & Services 92%
Dining 6%
Electronics 2%
Dollar Tree
Shops & Services
12,687 visits/mo
0.3 miles
7-Eleven
Shops & Services
10,284 visits/mo
0.2 miles
Enterprise Rent-A-Car
Shops & Services
2,408 visits/mo
0.2 miles
Papa John's Pizza
Dining
1,891 visits/mo
0.1 miles
Kwik Stop
Shops & Services
1,699 visits/mo
0.4 miles
Demographics for 33462, FL
33,982
Population
15,911
Households
2.1
Avg Household Size
43
Median Age
28%
College-Educated
84%
High-School Grad
8.6 sq mi
ZIP Area
3,951
Density / Sq Mi
$72,288
Median Household Income
$38,193
Median Earnings
$1,659
Median Rent
$323,600
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 - Mixed-use restaurant space with existing kitchen and dining areas, plus covered rear parking for customer access.
Where is this conventional restaurant located?
The property is located at 38-39-117 Moorings Dr Lantana, FL.
What is the asking price?
The asking price for this property is $495,000.
What are key features of this property?
This property features: 1,055 SF mixed‑use restaurant space with existing kitchen and dining area; Existing kitchen and dining area supports cafe, smoothie, bakery, ice cream, or boutique restaurant concepts; Flexible mixed‑use zoning allows hybrid retail or wellness‑oriented concepts
