1688 Scenic Gulf Dr, Destin, FL 32550

8,726 SF | 100% Leased | Retail Building | Destin, FL 32550 | $8,450,000 ($968/SF)

Asking Price $8,450,000

Property Type: Retail, Restaurant
Square Feet: 8,726 SF
Price / Square Foot: $968

Listing Contacts

Don Janovyak

Verified Profile

Property Info

Property Overview

***Price reduced and owner now willing to sell building individually*** Free Standing building. Highly desirable retail location across the road from the beaches of the Gulf of Mexico. Tremendous resort visitor traffic. The owner of the building occupies the majority (4574 sq ft) and has 3 other tenants including national franchise Dairy Queen, Emerald Coast Beach Home Reality, and Pascali Kitchen all leases are on the back end of their term. Owner could stay as a tenant or relocate. CAM is $34,639.35 annually. Current rent income is 248,814 annually, with owner paying well below market rent. Owner also willing to sell existing inventory if buyer wants to continue retail business. If torn down, can be built up to 3 stories.
***Owner willing to sell all 3 listings together 1200 Scenic Gulf, 1688 Scenic Gulf & 2052 Scenic Gulf package deal at $18,999,999***

Property Details

Class: C
Year Built: 1974
Stories: 1
Property Subtype: Storefront, Grocery/Convenience Store
Lot Size (sq. ft): 19,602 SF

Highlights

Across from beach
Lower price per sq ft than residential
Can be built up to 3 stories

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