299 Broad StGroveland, FL 34736

Property Details for 299 Broad St

Year built

1985

Construction

CONCRETE BLOCKS

Lot size

0.65 AC

Property size (Sq ft)

1,320 SF

Property type

Retail properties

Property subtype

Drive through restaurants

APN

19-22-25-0002-000-01703

APU

192225000200001703

Description

This thriving restaurant, located at 299 E Broad Street in Groveland, Florida, presents a unique investment opportunity. Boasting 1,320 square feet on a 0.65-acre lot, the property enjoys a prime position on Highway 50, benefiting from high traffic volume. The restaurant features both drive-through and eat-in options, including a buffet and ample seating for patrons. Its current configuration is well-suited to its existing use, but the versatile space also lends itself to a variety of other commercial applications. The property's strategic location is further enhanced by the planned bypass connecting Highway 33 and SR 19, with a park and ride situated nearby, promising increased future traffic. Neighboring businesses include an auto parts store and a gas/convenience station, creating a synergistic commercial environment. The property benefits from a new roof installed at the end of 2023. Financial information is available upon execution of a confidentiality agreement. Seller financing may be available. The asking price of $1,000,000 does not include the business name or the chicken recipe

• CAP approach

  CAP return

  Valuation

  6%

  $534,839

  6.5%

  $493,697

  7%

  $458,433

• Comparable approach

  Method

  Valuation

  Relative Method

  $649,764

  Geo Method

  $522,345

• Alternative Use

  Use

  Valuation

  Residential

  $416,452

  Hospitality

  $381,468

  Educational

  $317,377

  Medical

  $328,292

  Retail

  $493,697

Location Insight

City

Groveland

County

Lake

State

Florida

Latitude

28.5592

Longitude

-81.8528

CBSA code

36740

CBSA name

ORLANDO-KISSIMMEE, FL METROPOLITAN STATISTICAL AREA

Property Tax & Assessments

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