Listed by Tropic Shores Realty LLC Crystal River
$1,379,000
1935 SE US HWY 19 Crystal River, FL 34429
Details
Property Type Retail
Sub Type Bar, Restaurant
Square Footage 4,951
Net Rentable (SqFt) 4,951
Cap Rate 7.00%
NOI $106,000
Occupancy 100%
Tenancy Vacant
Pro-Forma NOI $169,000
Broker Co-Op Yes
Class B
Year Built 1983
Year Renovated 2000, 2018, 2021
Buildings 1
Stories 1
Acreage 106.000
Zoning High-Intensity Commercial (CH)
Investment Type Owner/User
Occupancy Date 04/08/2012
Ownership Owner-operated
2 Restaurants + 2 Bars Under One Roof!
Marketing description
PRIME U.S.19 HWY. LOCATION! Zoned "High-Intensity Commercial" with over 1 acre exposure on Crystal River’s main commercial corridor: U.S. Hwy 19 (*soon to be 6 lanes!). 26,000 daily traffic count. 5,000 sq ft. mol under air. Inside seating: 157. Additional 50+ *outdoor seats (*roof-covered seating). City Water & Sewer. Major Retailers nearby: Home Depot, TD Bank, Racetrac, Winn Dixie, Bealls, Chili’s, Applebees. Less than a mile to Crystal River Airport. Only 7 min. to Kings Bay, Crystal River’s World-Famous Springs, Marinas, GULF ACCESS & Historic Downtown. Will be 1/2 mile from planned Marriott Resort and Convention Center. Current Use: Restaurant & Lounge w/ 2 Restaurants & 2 Bars. Owner-Operated. Building in continuous use as Restaurant since 1981! Less than 6 miles from newest interchange of the $135 million Suncoast Parkway (Florida Turnpike) extension (NOW OPEN) - expected to send Citrus county's already exploding population and tourism numbers further skyward! Land, Bldg, Assets & Business all included. Bonus Outdoor Covered Seating & Concert stage, Endless possibilities! *Cash or 3rd-party financing; owner-financing offers req. minimum 65% cash down payment; no lease/purchase option inquiries, please. Call Andrea (Listing Broker), (352) 422-3261 for a *site visit appt. (*NDA required). See attachments for more info.
Investment highlights
Suncoast Blvd/US Hwy. 19 is expanding to 6 lanes due to expected unprecedented growth, current and anticipated (now over 26,000 AADT). Crystal River's commercial corridor is set for tremendous growth as the the first of the next two new Suncoast Parkway Extension Interchanges open in early 2022, followed by the US Hwy 44 (Lecanto) interchange opening soon after (10 minutes/ 6 miles from interchange to property).. Restaurant/lounge has been in continuous use since 1981. Land, Bldg, Business & Furnishings/Equipment incl. Recently-built Outdoor Concert stage and event pace w/ covered dining area & storage. Endless possibilities! (*Cash or outside/bank financing only; no lease/purchase option inquiries, please). AMENITIES, SPECS, STATS FF& E LIST coming soon. Contact Listing Agent for details. Confidentiality/NDA required.
Listing Contacts
Listed by Tropic Shores Realty LLC Crystal River
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Loan Amount
$0.00
Annual Debt Service
$--
$--
Annual Cash Flow
$106,000.00
$8,833.33/mo
Valuation Metrics
0
DSCR
7.69%
Cap Rate
7.69%
ROI
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