Restaurant and Fish Market
6991 SW State Rd 24 Cedar Key, FL 32625
For Sale
Contact for pricing
Spacious, handicap-accessible commercial building on 1.19 acres on State Road 24, sold fully equipped for restaurant use.
Property Size3,640 SF
Lot Size1.19 Acres
Price / SF$144.23
Days on Market27
Property Features for 6991 SW State Rd 24
General Information
- Standard status
- Active
- Size
- 3,640 SF
- Lot size
- 1.19 Acres
- Property subtype
- Retail
Building Details
- Year Built
- 1999
Listing Agency:
Hatcher Realty Services, Inc. Trenton
(352) 498-5151
Listed By:
Krystal Wynans · License #SL3635957
Source:
Crexi
Added: Jun 28
Changed: Jul 23
Last Checked: Jul 23 at 4:57PM
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 Hatcher Realty Services, Inc. Trenton
Investment Insights
Based on property information with market context.
This commercial property in Cedar Key totals 1.19 acres and includes a spacious building that is fully handicap accessible. The site was formerly operating as a restaurant and fish market and is being sold fully equipped, providing a turnkey starting point for a new owner. Included items are a walk-in cooler, lay-down freezers, commercial ice machines, and restaurant equipment, along with additional equipment listed as included in the sale.
The property is located on State Road 24 and is described as a landmark in the historic Rosewood community. Public remarks note it is the only restaurant in the Rosewood community, supporting its established local recognition.
The layout and existing improvements are positioned for continued food and seafood concepts, with the potential for other commercial uses noted in the remarks, such as a catering-focused operation or specialty market.
The property is located on State Road 24 and is described as a landmark in the historic Rosewood community. Public remarks note it is the only restaurant in the Rosewood community, supporting its established local recognition.
The layout and existing improvements are positioned for continued food and seafood concepts, with the potential for other commercial uses noted in the remarks, such as a catering-focused operation or specialty market.
Key Highlights
- Commercial building built in 1999 on 1.19 acres on State Road 24
- Previously operated as a restaurant and fish market; former restaurant and seafood‑market use on site
- Fully handicap accessible building
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 | $61.2k | $16.80 |
| − Vacancy | −$3.4k | −$0.92 |
| EGI | $57.8k | $15.88 |
| − OpEx | −$14.4k | −$3.97 |
| NOI | $43.3k | $11.91 |
3,640 SF · lease $16.80/SF/yr · vacancy 5.50% · expense 25.00%
Alternative Uses
Best Use
Specialty Retail
$619.2K
$541.8K – $722.4K
NOI $43,341 @ 7.0% cap · market cap 8.26%
Second Best
Retail
$551.4K
$482.4K – $643.3K
NOI $38,595 @ 7.0% cap · market cap 7.35%
Theoretical Best
Office A
$901.6K
$788.9K – $1.05M
NOI $63,109 @ 7.0% cap · market cap 12.02%
Zoning and permitted uses should be independently verified with local authorities.
Property Analytics
Location Intelligence
Current Use by Public Records
Conventional restaurants
FAQs
What type of property is this?
Conventional restaurant - Spacious, handicap-accessible commercial building on 1.19 acres on State Road 24, sold fully equipped for restaurant use.
Where is this conventional restaurant located?
The property is located at 6991 SW State Rd 24 Cedar Key, FL.
What is the asking price?
The asking price for this property is $525,000.
What are key features of this property?
This property features: Commercial building built in 1999 on 1.19 acres on State Road 24; Previously operated as a restaurant and fish market; former restaurant and seafood‑market use on site; Fully handicap accessible building
