Renovated Mixed-Use Restaurant
For Sale
Contact for pricing
801 West Montrose Street, Clermont, FL 34711
Three-level CBD asset combines a renovated restaurant and bar operation with four residential apartments and on-site parking.
Property Size11,101 SF
Lot Size0.51 Acres
Price / SF$360.33
Days on Market112
Property Features for 801 West Montrose Street
General Information
Standard status
Active
Size
11,101 SF
Total Parking Spaces
19
Lot size
0.51 Acres
Property subtype
Retail, Multifamily, Mixed Use
Zoning
CBD (Central Business District)
Investment Type
Owner/User
Financials
Asking Price
$4,000,000
Gross Income
$71,040
Business Included
Yes
Restaurant
Patio
Yes
Equipment Included
Yes
Units
Unit Mix
4 x 1BR/1BA
Multifamily Units
4
Additional Details
Road Access
Yes
Building Details
Year Built
1926
Year Renovated
2025
Buildings
1
Stories
3
Units
19
Tenancy
Multi
Listing Agency:
KW Commercial Orlando Central
(407) 395-4422
Listed By:
Sunny Gandhi · License #SL3302939
Source:
Crexi
Added: May 12
Changed: Aug 31
Last Checked: Aug 31 at 1:14AM
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 KW Commercial Orlando Central
Investment Insights
Based on property information with market context.
This three-level mixed-use property contains approximately 11,101 SF of gross building area on 0.51 acres and was built in 1926. The first floor includes a 4,318 SF steakhouse with a full-service bar, 120 seats, and a 24-seat outdoor patio. A 1,911 SF basement lounge provides a separate bar setting with seating for 40. The second floor contains four renovated one-bedroom, one-bath apartments totaling 2,940 SF. The steakhouse business is included in the sale.
Major work completed between 2024 and 2025 includes renovations to the apartments, restaurant and bar interiors, commercial kitchen systems and equipment, HVAC, electrical, plumbing, and roof sealing. The property is zoned CBD (Central Business District), supports beer, wine, and liquor sales, and includes an on-site parking lot accommodating ±19 vehicles. It is located at 801 West Montrose Street in downtown Clermont, Florida.
Major work completed between 2024 and 2025 includes renovations to the apartments, restaurant and bar interiors, commercial kitchen systems and equipment, HVAC, electrical, plumbing, and roof sealing. The property is zoned CBD (Central Business District), supports beer, wine, and liquor sales, and includes an on-site parking lot accommodating ±19 vehicles. It is located at 801 West Montrose Street in downtown Clermont, Florida.
Key Highlights
- Approximately 11,101 SF on 0.51 acres with three levels
- 4,318 SF first‑floor steakhouse with 120 seats and a full‑service bar
- 1,911 SF basement lounge with seating for 40
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
$173,002
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
4.33%
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%
$3,460,040
$3.5M
Cap Rate 7%
$2,471,457
$2.5M
Cap Rate 9%
$1,922,244
$1.9M
Market Conditions
NOI Build-Up for 11,101 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
$239.8K $21.60/SF
− Vacancy
−$9.1K −$0.82/SF
EGI
$230.7K $20.78/SF
− OpEx
−$57.7K −$5.19/SF
NOI
$173.0K $15.58/SF
Area
Lake County, FL
Vacancy
3.80%
Lease Rate
$21.60 /SF/Yr
Expense Ratio
25.00%
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%
$3,460,040
Cap Rate 7%
$2,471,457
Cap Rate 9%
$1,922,244
Alternative Uses
Best Use
Specialty Retail
$2.47M
$2.16M – $2.88M
NOI $173,002 @ 7.0% cap · market cap 4.33%
Second Best
Mixed Use
$2.09M
$1.83M – $2.44M
NOI $146,533 @ 7.0% cap · market cap 3.66%
Theoretical Best
Office A
$3.16M
$2.76M – $3.69M
NOI $221,132 @ 7.0% cap · market cap 5.53%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
4
Residential units
Turnkey business
Opportunity
Yes
Paved road access
Location Intelligence
Trade Area within ½ mile
1,092
Businesses Nearby
Explore this area
Business Placement
Demographics for 34711, FL
67,980
Population
28,127
Households
2.4
Avg Household Size
45
Median Age
36%
College-Educated
95%
High-School Grad
39.2 sq mi
ZIP Area
1,734
Density / Sq Mi
$88,474
Median Household Income
$46,456
Median Earnings
$1,817
Median Rent
$369,900
Median Home Value
Market
Vacancy Rate% for Multifamily in South region
Questions? Ask Rey
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Frequently Asked Questions
What type of property is this?
Mixed-use property - Three-level CBD asset combines a renovated restaurant and bar operation with four residential apartments and on-site parking.
Where is this mixed-use property located?
The property is located at 801 West Montrose Street Clermont, FL.
What is the asking price?
The asking price for this property is $4,000,000.
What are key features of this property?
This property features: Approximately 11,101 SF on 0.51 acres with three levels; 4,318 SF first‑floor steakhouse with 120 seats and a full‑service bar; 1,911 SF basement lounge with seating for 40
