Restaurant Property with Picnic
503 PALMETTO STREET Eustis, FL 32726
503 PALMETTO STREET, Eustis, FL, 32726
$385,000
For Sale
$385,000
Restaurant - EUSTIS, FL
Property Size807 SF
Lot Size0.15 Acres
Price / SF$477.08
Days on Market55
Property Features for 503 PALMETTO STREET
General Information
- Property type
- Commercial Sale
- Property subtype
- Other
- Zoning
- MCR
- Standard status
- Active
- APN
- 12-19-26-1300-00E-00012
- Size
- 807 SF
- Lot size
- 0.15 Acres
Taxes and HOA fees
- Tax Year
- 2025
- Tax Annual Amount
- 1826
Utilities
- Heating system
- Natural Gas
Building Details
- Year built
- 1970
- Flooring type
- Concrete, Tile
- Building materials
- Block
- Roof type
- Metal
- Architectural style
- Other
Listing Agency
RE/MAX PREMIER REALTY
(352) 735-4060
18097 US Hwy 441, Suite A, FL
Listed by
Rachel Rivera · License #3406593
(407) 230-0235
Added: May 27 Checked: Jul 20 at 10:06 am
MLS# G5112936
Listing URL
Copyright © 2026 Stellar MLS. All rights reserved. All information provided by the listing agent/broker is deemed reliable but is not guaranteed and should be independently verified.
Investment Insights
Based on property information with market context.
This restaurant property includes the original BBQ restaurant and pits, with a walk-up service window described in the public remarks. The site also features a spacious picnic pavilion intended for outdoor dining and gatherings. The offering is described as including additional parcels being sold together with the property, and the land is presented as a multi-parcel site totaling approximately 5 acres.
The property is located at 503 Palmetto Street in Eustis, Florida, positioned on the corner of Palmetto Street and E. Bates Avenue in Lake County. The listing notes strong visibility and community recognition tied to its long-standing presence as a local barbecue destination.
For operators or buyers seeking a food and beverage concept with existing restaurant infrastructure, the on-site BBQ elements and outdoor pavilion provide a starting point for continuing a similar use or adapting the improvements. The zoning is listed as MCR, and the property’s corner location and outdoor amenities may support flexible restaurant or entertainment-style programming, subject to applicable approvals and permitted uses.
The property is located at 503 Palmetto Street in Eustis, Florida, positioned on the corner of Palmetto Street and E. Bates Avenue in Lake County. The listing notes strong visibility and community recognition tied to its long-standing presence as a local barbecue destination.
For operators or buyers seeking a food and beverage concept with existing restaurant infrastructure, the on-site BBQ elements and outdoor pavilion provide a starting point for continuing a similar use or adapting the improvements. The zoning is listed as MCR, and the property’s corner location and outdoor amenities may support flexible restaurant or entertainment-style programming, subject to applicable approvals and permitted uses.
Key Highlights
- ~5‑acre site on 3 parcels on the corner of Palmetto Street and E. Bates Avenue
- Original barbecue restaurant and pits included on the property
- Spacious picnic pavilion on‑site for outdoor dining and gatherings
Local 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 | $17.4k | $21.60 |
| − Vacancy | −$662 | −$0.82 |
| EGI | $16.8k | $20.78 |
| − OpEx | −$4.2k | −$5.19 |
| NOI | $12.6k | $15.58 |
807 SF · lease $21.60/SF/yr · vacancy 3.80% · expense 25.00%
Alternative Uses
Best Use
Specialty Retail
$179.7K
$157.2K – $209.6K
NOI $12,577 @ 7.0% cap · market cap 3.27%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$229.6K
$200.9K – $267.9K
NOI $16,075 @ 7.0% cap · market cap 4.18%
Zoning and permitted uses should be independently verified with local authorities.
Property Analytics
Property Profile
Location Intelligence
Current Use by Public Records
Conventional restaurants
Similar For Sale Nearby
FAQs
What type of property is this?
Conventional restaurant - Restaurant site with an original BBQ buildout, pits, and picnic pavilion on multiple parcels at a street corner.
Where is this conventional restaurant located?
The property is located at 503 PALMETTO STREET Eustis, FL.
What is the asking price?
The asking price for this property is $385,000.
What are key features of this property?
This property features: ~5‑acre site on 3 parcels on the corner of Palmetto Street and E. Bates Avenue; Original barbecue restaurant and pits included on the property; Spacious picnic pavilion on‑site for outdoor dining and gatherings
