1688 Scenic Gulf Dr - Storefront FOR SALE


Destin, FL 32550
$8,450,000 USD
850-235-2551
1688 Scenic Gulf Dr, Destin, FL for Sale
$8,450,000 USD
Storefront - FOR SALE
1/9
null | 9.5% Cap Rate

1688 Scenic Gulf Dr
Destin, FL 32550


HIGHLIGHTS

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

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***

FOR SALE DETAILS

PRICE

$8,450,000 USD

PRICE/SF

$968 USD /SF

CAP RATE

9.5%

% LEASED

-

TENANCY

Multiple

SALE TYPE

Investment Or Owner User

BUILDING DETAILS

PROPERTY TYPE

Retail

PROPERTY SUBTYPE

Storefront

ADD'L SUBTYPES

Convenience Store, Fast Food, Restaurant

TOTAL BUILDING SIZE

-

STORIES

1

YEAR BUILT

1974

SPRINKLERS

-

PARKING SPACES

14

LAND DETAILS

LAND ACRES

0.45 AC

LAND SF

19,602 SF

ZONING

Commercial

APN/PARCEL ID

32-2S-21-42260-000-0231

ASK ABOUT THIS PROPERTY

Don JanovyakEmerald Coast Realty GroupMore Info
850-235-2551

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Don JanovyakEmerald Coast Realty GroupMore Info
850-235-2551

By clicking the button, you agree to Showcase's Terms of Use and Privacy Policy.