23525 State Road 40Astor, FL 32102

Property Details for 23525 State Road 40

Year built

1987

Construction

WOOD FRAME

Lot size

2.44 AC

Property size (Sq ft)

2,844 SF

Property type

Retail properties

Property subtype

Turn key restaurants

APN

07-15-27-0100-000-02501

APU

71527010000002501

Description

This exceptional waterfront restaurant opportunity in Astor, Florida, presents a turnkey operation with significant upside. The 3,318 square foot building sits on a spacious 2.44-acre lot, offering ample parking and grassy areas perfect for outdoor events or expansion. The interior boasts 172 seats, including indoor and outdoor seating areas, plus a dedicated party room. The well-equipped kitchen, approximately 800-900 square feet, features walk-in coolers and freezers, multiple fryers, a large flat top, charbroiler, and salamander. Inventory, including approximately $100,000 in food and $30,000 in liquor, is included in the sale. The restaurant benefits from a strong local following, known for its home-style cooking and personal touch, attracting regular clientele, including helicopter arrivals with designated landing space. A metal roof (replaced 4 years ago) and four 5-ton AC units ensure efficient and reliable operation. The property includes a SRX liquor license, allowing for a full bar. The established staff of 32 employees are eager to continue their employment. The restaurant utilizes a Harbor Touch Point of Sale system with multiple entry points for streamlined service. This is a rare opportunity to acquire a thriving, established business with significant potential for growth.

• CAP approach

  CAP return

  Valuation

  6%

  $711,638

  6.5%

  $656,896

  7%

  $609,975

• Comparable approach

  Method

  Valuation

  Relative Method

  $800,039

  Geo Method

  $800,039

• Alternative Use

  Use

  Valuation

  Residential

  $554,117

  Hospitality

  $507,568

  Educational

  $422,291

  Medical

  $436,814

  Retail

  $656,896

Location Insight

City

Astor

County

Lake

State

Florida

Latitude

29.163

Longitude

-81.5504

CBSA code

36740

CBSA name

ORLANDO-KISSIMMEE, FL METROPOLITAN STATISTICAL AREA

Property Tax & Assessments

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