23525 Fl-40Astor, FL 32102

Property Details for 23525 Fl-40

Property size (Sq ft)

3,318 SF

Property type

Retail properties

Property subtype

Other retail properties

Description

Exceptional opportunity to acquire the established Castaways Bar and Grill in Astor, Florida. This thriving, owner-occupied restaurant boasts a 28.33% cap rate and a substantial net operating income (NOI) of $340,000. The 3,318 square foot building sits on a generous 2.5-acre lot, offering ample space for parking, outdoor seating, and potential expansion. Currently operating at 100% occupancy since March 1st, 2024, the business features a full-service kitchen with extensive equipment including walk-in coolers, freezers, multiple fryers, and a charbroiler. The restaurant comfortably seats 172 patrons indoors, with additional outdoor seating. A dedicated party room caters to private events. The property includes a metal roof (replaced 4 years ago) and four 5-ton AC units. The sale includes a valuable SRX liquor license, approximately $100,000 in inventory, and $30,000 in liquor stock. The business employs 32 staff members. The property is zoned COMM and benefits from high visibility on a major road with excellent signage. The asking price is $1,200,000. This turnkey operation presents a rare opportunity for a strong return on investment in a desirable location. The restaurant is known for its home-style cooking and personal touch, attracting a loyal local clientele and even helicopter-arriving customers.

Location Insight

City

Astor

County

Lake

State

Florida

Latitude

29.162

Longitude

-81.5503

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