Two-Story Restaurant with
For Sale
$925,000
8196 FL-85, Laurel Hill, FL 32567
Commercial for Sale, Laurel Hill, FL
Property Size3,766 SF
Lot Size0.42 Acres
Price / SF$245.62
Days on Market136
Property Features for 8196 FL-85
General Information
Property type
Commercial Sale
Property subtype
Other
Directions
Take Highway 85 N to Laurel Hill, the property fronts 85 at the intersection of 85 and 3rd St, across from the Tom Thumb.
Subdivision
25 - Crestview Area
Standard status
Active
APN
05-5N-22-2510-0003-0140
Lot size
0.42 Acres
Taxes and HOA fees
Tax Description
LAUREL HILL LOTS 14 TO 16 INC BLK 3 AND COM NW COR LOT 13 S 17 DEG E 167.28 FT TO SE COR LOT 13 N 165 FT W 50 FT TO POB
Legal Description
LAUREL HILL LOTS 14 TO 16 INC BLK 3 AND COM NW COR LOT 13 S 17 DEG E 167.28 FT TO SE COR LOT 13 N 165 FT W 50 FT TO POB
Amenities
screened-in pit room
walk-in cooler
freezer
400-amp service
dual 5-ton HVAC units
single-family home
septic on separate parcel
Listing Agency:
Taylor Allen Properties LLC
(850) 259-2894
Listed By:
Christopher L Wooten · License #3435164
(850) 502-9900
Added: May 1
Changed: Sep 11
Last Checked: Sep 13 at 1:06AM
MLS# 1002099
Copyright © 2026 Emerald Coast Association of Realtors. 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 two-story restaurant property includes a 3,766 SF building with dining and food-service operations on the first floor. The upper level adds approximately 1,302 SF arranged across 6 rooms, creating separate space for other business functions. Restaurant infrastructure includes a fully equipped commercial kitchen with hood system, grease trap, walk-in cooler, freezer, 400-amp electrical service, and dual 5-ton HVAC units. A dedicated drive-thru supports service operations, while the screened pit room contains a large-capacity smoker.
The property is located at 8196 FL-85 in Laurel Hill, Florida, with approximately 184ft of frontage along Hwy 85. The offering includes three parcels, including one improved with a single-family home and another equipped with septic. The restaurant is licensed for 88 occupants, seats 68 guests, and has approximately 15 dedicated parking spaces with additional room for overflow.
The property is located at 8196 FL-85 in Laurel Hill, Florida, with approximately 184ft of frontage along Hwy 85. The offering includes three parcels, including one improved with a single-family home and another equipped with septic. The restaurant is licensed for 88 occupants, seats 68 guests, and has approximately 15 dedicated parking spaces with additional room for overflow.
Key Highlights
- 3,766 SF two‑story restaurant building with approximately 1,302 SF upstairs
- Approximately 184ft of frontage along Hwy 85
- Licensed for 88 occupants with seating for 68 guests
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
$45,757
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
4.95%
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%
$915,140
$915.1K
Cap Rate 7%
$653,671
$653.7K
Cap Rate 9%
$508,411
$508.4K
Market Conditions
NOI Build-Up for 3,766 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
$81.3K $21.60/SF
− Vacancy
−$8.1K −$2.16/SF
EGI
$73.2K $19.44/SF
− OpEx
−$27.5K −$7.29/SF
NOI
$45.8K $12.15/SF
Area
Okaloosa County, FL
Vacancy
10.00%
Lease Rate
$21.60 /SF/Yr
Expense Ratio
37.50%
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%
$915,140
Cap Rate 7%
$653,671
Cap Rate 9%
$508,411
Alternative Uses
Best Use
Specialty Retail
$1.45M
$1.27M – $1.69M
NOI $101,590 @ 7.0% cap · market cap 10.98%
Second Best
Mixed Use
$653.7K
$572.0K – $762.6K
NOI $45,757 @ 7.0% cap · market cap 4.95%
Theoretical Best
—
—
same as Best Use
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
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Current Use
Lease Details
Turnkey business
Opportunity
Yes
Highway access
Yes
Paved road access
Yes
Utilities to site
Yes
Commercial hood
Yes
Grease trap
Location Intelligence
Trade Area within ½ mile
33
Businesses Nearby
8k
Monthly Visits Nearby
Well-served
Demand for This Use
Explore this area
Business Placement
Foot Traffic Nearby
Shops & Services 100%
Tom Thumb Food Stores
Shops & Services
7,856 visits/mo
0.1 miles
Demographics for 32567, FL
4,210
Population
2,112
Households
2
Avg Household Size
44
Median Age
16%
College-Educated
89%
High-School Grad
145.3 sq mi
ZIP Area
29
Density / Sq Mi
$66,215
Median Household Income
$39,404
Median Earnings
$231,000
Median Home Value
Check the figures for this property
Cap Rate, Value Estimation, Potential NOI and more
View Realmo Analytics
Market
Vacancy Rate% for Retail in South region
Questions? Ask Rey
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Frequently Asked Questions
What type of property is this?
Conventional restaurant - Established restaurant operation with commercial kitchen, second-floor rooms, and dedicated drive-thru service.
Where is this conventional restaurant located?
The property is located at 8196 FL-85 Laurel Hill, FL.
What is the asking price?
The asking price for this property is $925,000.
What are key features of this property?
This property features: 3,766 SF two‑story restaurant building with approximately 1,302 SF upstairs; Approximately 184ft of frontage along Hwy 85; Licensed for 88 occupants with seating for 68 guests
