1114 Florida AvePalm Harbor, FL 34683

Property Details for 1114 Florida Ave

Year built

2022

Construction

CONCRETE BLOCKS

Lot size

0.31 AC

Property size (Sq ft)

6,156 SF

Property type

Turn key restaurants

APN

01-28-15-88560-095-0600

APU

12815885600950600

Description

This exceptional Class A, 8,300-square-foot restaurant building presents a unique investment opportunity in the heart of historic downtown Palm Harbor, Florida. Built in 2022, this two-story, corporate-owned property sits on a 0.31-acre lot and boasts state-of-the-art construction, high-end finishes, and premium window packages throughout. The interior features a fully equipped kitchen and bar, valued at $1 million, with all furniture, fixtures, and equipment (FF&E) included. The spacious layout comfortably accommodates 275 diners, with seating for 175 on the first floor and 100 on the second. Utility costs average $5,000 monthly for electricity, $1,200 for gas, and $1,200 for water. A complete FF&E inventory list is available. The property's strategic location within a densely populated area offers significant potential for success in the thriving dining and entertainment sector. A long-term overflow parking lease is included in the sale. This turnkey operation is ideal for a variety of concepts, including a test kitchen or ghost kitchen. The property is currently vacant, providing immediate occupancy for the new owner. The sale is motivated by the owner's health reasons.

• CAP approach

  CAP return

  Valuation

  6%

  $1,876,787

  6.5%

  $1,732,419

  7%

  $1,608,674

• Comparable approach

  Method

  Valuation

  Relative Method

  $1,710,787

  Geo Method

  $1,710,787

• Alternative Use

  Use

  Valuation

  Residential

  $1,461,360

  Hospitality

  $1,338,598

  Educational

  $1,113,698

  Medical

  $1,151,999

  Retail

  $1,732,419

Location Insight

City

Palm Harbor

County

Pinellas

State

Florida

Latitude

28.0777

Longitude

-82.7657

CBSA code

45300

CBSA name

TAMPA-ST. PETERSBURG-CLEARWATER, FL METROPOLITAN STATISTICAL AREA

Property Tax & Assessments

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