Restaurant and Fish Market
For Sale
Contact for pricing
6991 SW State Rd 24, Cedar Key, FL 32625
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$133.24
Days on Market121
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
Additional Details
Road Access
Yes
Building Details
Year Built
1999
Stories
1
Listing Agency:
Hatcher Realty Services, Inc. Trenton
Listed By:
Krystal Wynans · License #SL3635957
(352) 949-7511
Source:
Crexi
Added: Jun 28
Changed: Oct 25
Last Checked: Oct 24 at 4:41PM
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
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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
Estimated NOI and Cap Rate
NOI / Yr
$43,341
Cap Rate
8.94%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$866,820
$866.8K
Cap Rate 7%
$619,157
$619.2K
Cap Rate 9%
$481,567
$481.6K
Market Conditions
NOI Build-Up for 3,640 SF
Gross rent
$61.2K $16.80/SF
− Vacancy
−$3.4K −$0.92/SF
EGI
$57.8K $15.88/SF
− OpEx
−$14.4K −$3.97/SF
NOI
$43.3K $11.91/SF
Area
Levy County, FL
Vacancy
5.50%
Lease Rate
$16.80 /SF/Yr
Expense Ratio
25.00%
Simulate Cap Rate and NOI
Suggested Prices Based on Cap Rates
Cap Rate 5%
$866,820
Cap Rate 7%
$619,157
Cap Rate 9%
$481,567
Alternative Uses
Best Use
Specialty Retail
$619.2K
$541.8K – $722.4K
NOI $43,341 @ 7.0% cap · market cap 8.94%
Second Best
Retail
$551.4K
$482.4K – $643.3K
NOI $38,595 @ 7.0% cap · market cap 7.96%
Theoretical Best
Office A
$901.6K
$788.9K – $1.05M
NOI $63,109 @ 7.0% cap · market cap 13.01%
Zoning and permitted uses should be independently verified with authorities.
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Current Use
Lease Details
Yes
Paved road access
Location Intelligence
Trade Area within ½ mile
21
Businesses Nearby
Well-served
Demand for This Use
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Business Placement
Demographics for 32625, FL
1,620
Population
1,262
Households
1.3
Avg Household Size
59
Median Age
40%
College-Educated
92%
High-School Grad
94.0 sq mi
ZIP Area
17
Density / Sq Mi
$59,036
Median Household Income
$50,729
Median Earnings
$918
Median Rent
$267,200
Median Home Value
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Market
Vacancy Rate% for Retail in South region
Frequently Asked Questions
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 $485,000.
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
