Two-Building Restaurant
For Sale
$675,000
4828-4824 S Suncoast Boulevard, Homosassa, FL 34446
Two-building commercial property includes a restaurant and a separately leased cabinet shop.
Property Size4,172 SF
Lot Size0.92 Acres
Price / SF$161.79
Days on Market170
Property Features for 4828-4824 S Suncoast Boulevard
General Information
Standard status
Active
Size
4,172 SF
Lot size
0.92 Acres
Property subtype
Retail
Site & Location
Traffic Count
30,000 vehicles/day
Highway Access
Yes
Road Access
Yes
Restaurant
Seating Capacity
50
Patio
Yes
Equipment Included
Yes
Additional Details
Business Included
Yes
Taxes and HOA fees
Annual Taxes
$6,263
Amenities
pool room
Central Air, Electric
3
Tile, Laminate
Metal
GNC
Driveway.
County Road, Clear lot.
Building Details
Year Built
1970
Buildings
2
Listing Agency:
Century 21 J.W.Morton R.E.
(352) 586-3666
Listed By:
Thao Le · License #3390499
(352) 586-3666
Source:
Xome
Added: Mar 14
Changed: Aug 29
Last Checked: Aug 29 at 11:53PM
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 J.W.Morton R.E.
Investment Insights
Based on property information with market context.
This two-building restaurant property combines a 2,880-square-foot restaurant, sports bar, and grill with a second building leased to a cabinet shop. The restaurant includes full liquor service, indoor and outdoor seating, a separate pool room, and seating for 50. Interior finishes include tile and laminate, with central air and electric service. The property was built in 1970.
Located at 4828-4824 S Suncoast Boulevard in Homosassa, the site offers frontage on Highway 19 and a reported traffic count of 30,000 VPD. The 0.92-acre parcel includes a clear lot, driveway access, and ample parking. Total building area is 4,172 square feet, providing an established restaurant operation alongside additional leased commercial space.
Located at 4828-4824 S Suncoast Boulevard in Homosassa, the site offers frontage on Highway 19 and a reported traffic count of 30,000 VPD. The 0.92-acre parcel includes a clear lot, driveway access, and ample parking. Total building area is 4,172 square feet, providing an established restaurant operation alongside additional leased commercial space.
Key Highlights
- 2,880‑square‑foot restaurant, sports bar, and grill with full liquor service
- Two buildings totaling 4,172 square feet on 0.92 acres
- Restaurant seating for 50, with indoor and outdoor areas
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
$39,073
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
5.79%
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%
$781,460
$781.5K
Cap Rate 7%
$558,186
$558.2K
Cap Rate 9%
$434,144
$434.1K
Market Conditions
NOI Build-Up for 4,172 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
$67.6K $16.20/SF
− Vacancy
−$5.1K −$1.22/SF
EGI
$62.5K $14.99/SF
− OpEx
−$23.4K −$5.62/SF
NOI
$39.1K $9.37/SF
Area
Citrus County, FL
Vacancy
7.50%
Lease Rate
$16.20 /SF/Yr
Expense Ratio
37.50%
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%
$781,460
Cap Rate 7%
$558,186
Cap Rate 9%
$434,144
Alternative Uses
Best Use
Specialty Retail
$937.4K
$820.3K – $1.09M
NOI $65,621 @ 7.0% cap · market cap 9.72%
Second Best
Mixed Use
$558.2K
$488.4K – $651.2K
NOI $39,073 @ 7.0% cap · market cap 5.79%
Theoretical Best
—
—
same as Best Use
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
30,000 VPD
Traffic count
Turnkey business
Opportunity
Yes
Highway access
Yes
Paved road access
Location Intelligence
Trade Area within ½ mile
183
Businesses Nearby
7k
Monthly Visits Nearby
Balanced
Demand for This Use
Explore this area
Business Placement
Foot Traffic Nearby
Shops & Services 71%
Electronics 29%
Truist
Shops & Services
3,072 visits/mo
0.3 miles
Regions Bank
Shops & Services
2,197 visits/mo
0.4 miles
Metro by T-Mobile
Electronics
2,132 visits/mo
0.5 miles
Demographics for 34446, FL
18,431
Population
9,588
Households
1.9
Avg Household Size
62
Median Age
18%
College-Educated
89%
High-School Grad
29.8 sq mi
ZIP Area
618
Density / Sq Mi
$60,625
Median Household Income
$41,423
Median Earnings
$938
Median Rent
$231,700
Median Home Value
Market
Vacancy Rate% for Retail in South region
Questions? Ask Rey
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Frequently Asked Questions
What type of property is this?
Conventional restaurant - Two-building commercial property includes a restaurant and a separately leased cabinet shop.
Where is this conventional restaurant located?
The property is located at 4828-4824 S Suncoast Boulevard Homosassa, FL.
What is the asking price?
The asking price for this property is $675,000.
What are key features of this property?
This property features: 2,880‑square‑foot restaurant, sports bar, and grill with full liquor service; Two buildings totaling 4,172 square feet on 0.92 acres; Restaurant seating for 50, with indoor and outdoor areas
