Navarre Waterfront Restaurant

Retail-Commercial for Sale
Catylist Listing ID: 30854723
Property Subtypes: Free-Standing Building, Mixed Use, Restaurant, Street Retail, Other
Building Size (RSF): 13,716 SF
Gross Building Area: See Agent
Gross Land Area: 1.14 Acres
Sale Price: $4,490,000
Unit Price: $327.35 PSF
Property Use Type: Vacant/Owner-User, Business
Building Name: The Grillehouse Restaurant & Mango Mary's
Sale Terms: Cash to Seller
Cap Rate: Undisclosed
Last Updated: 7/18/2024

Overview / Comments

NAI Pensacola is pleased to present an incredible opportunity to own a spectacular waterfront property with breathtaking views of Santa Rosa Sound, and Navarre Beach. This sprawling complex boasts both indoor and waterside dining areas providing a perfect blend of ambiance and tranquility. The beautifully built-out interior encompasses 5,512 square feet of upscale dining space, while an astonishing 8,204 square feet is dedicated to the enchanting waterfront seating areas. Positioned on 1.14 AC+/- of HCD zoned land with 336’ of water-frontage, and 335 ‘ on Navarre Pkwy. providing visibility to 47,000 cars per day.

The seller has a written option to purchase the parcels directly to the east and west adjoining his property. The Option can be purchased in addition to his property

High-visibility location in the popular resort community of Navarre, FL., The restaurant is perfectly positioned along the busy Navarre retail trade and travel corridor and attracts a steady stream of tourists and locals alike. The picturesque surroundings and the vibrant atmosphere make it an irresistible destination location.

Restaurant complex that is walk-in ready or a perfect location for a redevelopment project. The location is surrounded by a dense population base, national retailers, restaurants, condominiums, and hotels.

Two parcels combined to offer just over an acre of waterfront, on the Santa Rosa Sound (336 FT water-frontage) The western parcel of the property is set up as an outdoor bar/grille and playground area. The eastern parcel houses casual/fine dining restaurant space.

All FF&E are available.
The pier is not included.

Partnership Potential The owner, a highly established restaurateur would consider some form of partnership in this restaurant with a well-qualified buyer

Redevelopment Opportunity
Interested Condo and hotel Developers desiring the highest and best use of the site could independently contact the adjoining vacant landowners to inquire about possible potential to purchase these parcels

Additional Details

Nearest MSA: Pensacola-Ferry Pass-Brent
County: Santa Rosa
Tax ID/APN: 20-2S-26-0000-00400-0000
Zoning: HCD
Retail Clientele: General, Family, Traveler, Tourist, Recreation
Property Located Between: Navarre Pkwy
Property Visibility: Excellent
Largest Nearby Street: Navarre Pkwy
Feet of Frontage: 335
Traffic/Vehicle Count: 47,000
Site Description: Fully developed Waterfront Complex, featuring fine/casual indoor dining area, multi-level waterfront decks, white sand dining and playground area
Area Description: Pinnacle position along bustling Navarre Parkway with visibility to over 47,000 CPD. Navarre is a popular tourist destination and boasts a beautiful subtropical climate, with long summers and an astounding 230 days of sunshine each year. Most visitors to Santa Rosa County stay in Navarre, FL ( 90.1% ) during their trip to the area. The location is surrounded by box retailers, national and regional retailers, restaurants, QSRs, hotels, and condominiums.
Tenancy: Single Tenant
Total Number of Buildings: 1
Number of Stories: 2
Property Condition: Excellent
Heat Type: Electricity
Heat Source: Central
Zoning Description: To provide for a wide range of commercial uses in appropriate and easily accessible locations adjacent to major transportation corridors and having access to a wide market area. This district is intended to be situated along selected segments of major thoroughfares in the vicinity of major intersections. Additionally, this district is generally located adjacent to districts characterized by medium to high density residential development and areas of more intensive commercial use. It is intended that the site plan criteria assist in evaluating economic implications with a view toward generating a stable economy and efficient, timely and economical delivery of needed public facilities and services.
Lot Frontage: 334
Lot Depth: 155
Legal Description: PARCEL 1 & 2 : W 175 FT OF E375 FT OF LOT 1 LYING S OF USHWY 98 OF THE FOLLOWING DESCPARCEL: COM I/S E LI OF LOT 1& S R/W US HWY 98 THNN89*17'25"W 200 FT TO E LN OFW 175 FT OF E 375 FT GOVT LT 1& POB THN CONT 330. 94 FT THNS0*30'18"W 156.81 FT +/- TO SRSOUND THN ELY ON WATERS EDGE330.47 FT TO TH E LN OF TH W175 FT OF TH E 375 FT OF GOVTLT 1 THN N0*42'56"E 148.45 FTTO TH POB AS DES IN OR 4353 PG13 & TOG W/ AND SUBJ TO ESMNTAS DES IN OR 4353 PG 1899 Parcel 1 *DESC IN MORE DETAIL FOR 2018*W 209 FT OF E 584 FT OF LOT 1LYING S OF US HWY 98 OF THEFOLLOWING DESC PARCEL:COM I/S E LI OF LOT 1 & S R/WUS HWY 98 THN N89*17'25"W 200FT TO E LN OF W 175 FT OF E375 FT LT 1 & POB TH CONT 330.94 FT THN S0*30'18"W 156.81 FT+/- TO SR SOUND THN ELY ONWATERS EDGE 330.47 FT TO TH ELN OF TH W 175 FT OF TH E 375FT OF GOVT LT 1 THN N0*42'56"E148.45 FT TO TH POB AS DES INPART IN OR 3381 PG 1789LESS THAT PORTION DESC IN OR4353 PG 15 (ADDED TO #2.24

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Demographic Statistics

Proximity: 1 mile 3 miles 5 miles
Total Population: 1,484 21,773 28,525
Median Age: 35.56 35.56 36.09
Households: 544 8,235 10,726

Contact

Photograph of Listing Agent

Jenny Noonan

NAI Pensacola
Gulf Coast CMLS Member
Photograph of Listing Agent

DeeDee Davis, SIOR

NAI Pensacola Gulf Coast CMLS Member
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