Corner BBQ Restaurant with
503 Palmetto St Eustis, FL 32726
503 Palmetto St, Eustis, FL, 32726
$385,000
For Sale
$385,000
Historic BBQ restaurant site on three parcels with original pits and a picnic pavilion for outdoor gatherings.
Property Size807 SF
Lot Size5.00 Acres
Price / SF$477.08
Days on Market48
Property Features for 503 Palmetto St
General Information
- Standard status
- Active
- Size
- 807 SF
- Lot size
- 5.00 Acres
Listing Agency
RE/MAX PREMIER REALTY
(407) 230-0235
Listed by
Rachel Rivera · License #3406593
(407) 230-0235
Source
Exprealty
Added: Jun 1 Checked: Jul 18 at 2:49 am
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 RE/MAX PREMIER REALTY
Investment Insights
Based on property information with market context.
This property is a historic BBQ restaurant site that includes the original barbecue restaurant and pits, along with a spacious picnic pavilion. The former operation also featured a walk-up service window, supporting a classic takeout-and-outdoor dining experience.
The site is located on a corner and is identified in the listing as 503 Palmetto St in Eustis, Florida, at the intersection of Palmetto Street and E. Bates Avenue. It totals approximately 5 acres across three parcels.
Additional parcels being sold together with this property are 12-19-26-1300-00E-00000 and 12-19-26-3100-00D-00000.
The site is located on a corner and is identified in the listing as 503 Palmetto St in Eustis, Florida, at the intersection of Palmetto Street and E. Bates Avenue. It totals approximately 5 acres across three parcels.
Additional parcels being sold together with this property are 12-19-26-1300-00E-00000 and 12-19-26-3100-00D-00000.
Key Highlights
- Historic BBQ restaurant site on 3 parcels totaling approx. 5 acres
- Corner location on Palmetto Street and E. Bates Avenue
- Includes the original BBQ restaurant and pits
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
Industrial
$64.4K
$56.4K – $75.1K
NOI $4,508 @ 7.0% cap · market cap 1.17%
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
Location Intelligence
Current Use by Public Records
Conventional restaurants
Similar For Sale Nearby
FAQs
What type of property is this?
Conventional restaurant - Historic BBQ restaurant site on three parcels with original pits and a picnic pavilion for outdoor gatherings.
Where is this conventional restaurant located?
The property is located at 503 Palmetto St 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: Historic BBQ restaurant site on 3 parcels totaling approx. 5 acres; Corner location on Palmetto Street and E. Bates Avenue; Includes the original BBQ restaurant and pits
