Convenience Store with Marine
For Sale
$500,000
8328 Pat Thomas Parkway, Quincy, FL 32351
Offers food, beverages, live bait, and marine fuel near Lake Talquin.
Property Size1,495 SF
Price / SF$334.45
Days on Market774
Property Features for 8328 Pat Thomas Parkway
General Information
Standard status
Active
Size
1,495 SF
Property subtype
Commercial/Industrial
Taxes and HOA fees
Annual Taxes
$1,608
Building Details
Buildings
2
Listing Agency:
Bert Pope Realty, LLC
(850) 933-2378
Listed By:
Bert S Pope · License #3185584
(850) 933-2378
Source:
Exitrealty
Added: Jul 19, 2024
Changed: Aug 30
Last Checked: Aug 30 at 1:35PM
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 Bert Pope Realty, LLC
Investment Insights
Based on property information with market context.
This convenience-store property at 8328 Pat Thomas Parkway provides food and beverages, live bait, and marine fuel in the Lake Talquin area. The asset also includes a separate large building that may support another business or be remodeled for onsite living, subject to applicable approvals.
A restaurant kitchen is already present but is not currently in use, providing an additional existing feature for an operator to evaluate. The property’s combination of convenience retail, bait sales, marine fuel, and supplemental building space creates a multi-component commercial offering.
A restaurant kitchen is already present but is not currently in use, providing an additional existing feature for an operator to evaluate. The property’s combination of convenience retail, bait sales, marine fuel, and supplemental building space creates a multi-component commercial offering.
Key Highlights
- Near Lake Talquin
- Food and beverage sales
- Live bait operation
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
$17,074
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
3.41%
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%
$341,480
$341.5K
Cap Rate 7%
$243,914
$243.9K
Cap Rate 9%
$189,711
$189.7K
Market Conditions
NOI Build-Up for 1,495 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
$24.2K $16.20/SF
− Vacancy
−$1.5K −$0.97/SF
EGI
$22.8K $15.23/SF
− OpEx
−$5.7K −$3.81/SF
NOI
$17.1K $11.42/SF
Area
Gadsden County, FL
Vacancy
6.00%
Lease Rate
$16.20 /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%
$341,480
Cap Rate 7%
$243,914
Cap Rate 9%
$189,711
Alternative Uses
Best Use
Specialty Retail
$243.9K
$213.4K – $284.6K
NOI $17,074 @ 7.0% cap · market cap 3.41%
Second Best
Retail
$207.4K
$181.5K – $242.0K
NOI $14,520 @ 7.0% cap · market cap 2.90%
Theoretical Best
Office A
$366.5K
$320.7K – $427.6K
NOI $25,656 @ 7.0% cap · market cap 5.13%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Location Intelligence
Trade Area within ½ mile
7
Businesses Nearby
Well-served
Demand for This Use
Explore this area
Business Placement
Demographics for 32351, FL
16,526
Population
7,065
Households
2.3
Avg Household Size
41
Median Age
16%
College-Educated
79%
High-School Grad
213.0 sq mi
ZIP Area
78
Density / Sq Mi
$39,219
Median Household Income
$29,952
Median Earnings
$838
Median Rent
$119,600
Median Home Value
Market
Vacancy Rate% for Retail in South region
Questions? Ask Rey
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Frequently Asked Questions
What type of property is this?
Grocery and convenience store - Offers food, beverages, live bait, and marine fuel near Lake Talquin.
Where is this grocery and convenience store located?
The property is located at 8328 Pat Thomas Parkway Quincy, FL.
What is the asking price?
The asking price for this property is $500,000.
What are key features of this property?
This property features: Near Lake Talquin; Food and beverage sales; Live bait operation
