Retail-Commercial for Sale
Catylist Listing ID: 30171207
Property Subtypes: Free-Standing Building, Restaurant
Building Size (RSF): 9,776 SF
Gross Building Area: See Agent
Gross Land Area: 2.24 Acres
Sale Price: $3,000,000
Unit Price: $306.87 PSF
Property Use Type: Investment
Building Name: Former Golden Corral Restaurant - Old Time Country Buffet
Usable Size (USF): 9,989 SF
Sale Terms: Cash to Seller
Cap Rate: Undisclosed
Last Updated: 1/29/2018

Overview / Comments

Exiting freestanding restaurant/retail building renovated in 2018 with 9,776 SF and seating for 338 zoned Town Center Mixed Use (TCMU) which allows restaurant/bar, grocery, gasoline, department stores & other retail, office, seasonal & permanent multi-family, hotel/motel, fitness centers, & more. There are 135 parking spaces on 2.24 acres with 144' on Hwy 98 plus a sign and ingress/egress easement. Destin is a drive-to tourist destination that swells from a local population of 12-13,000 to 150,000 during the summer with a total of 4.5 million visitors annually. Traffic count is 49,500 daily. The sale will be subject to a new lease that was signed at the end of January 2018.

Additional Details

Nearest MSA: Crestview-Fort Walton Beach-Destin
County: Okaloosa
Taxing Authority: Okaloosa County, Florida
Tax ID/APN: 00-2S-22-0000-0012-0010
Retail Clientele: General, Family, Business, Traveler, Tourist, Recreation, Convention, Other
Property Located Between: Main Street and Beach Drive - CVS and Circle K
Property Visibility: Excellent
Largest Nearby Street: Highway 98 East
Feet of Frontage: 144
Traffic/Vehicle Count: 49,500
Highway Access: Directly on Highway 98 East - aka Harbor Blvd.
Airports: Destin and Destin-Fort Walton Beach Regional Airport
Site Description: 2.24 acres with 135 parking spaces fronting Highway 98 East with 49,500 traffic count per day
Area Description: Destin, Florida - Current populaton is 12-13,000 but swells to 150,000 during the summer season
Tenancy: Single Tenant
Total Number of Buildings: 1
Number of Stories: 1
Typical SF / Floor: 9,776 SF
Property Condition: Excellent
Year Built: 1998
Year Renovated: 2018
Roof Type: Flat
Total Parking Spaces: 135
Parking Description: asphalt pavement on ground level - striped for 135 spaces of which 5 are for handicap
Zoning Description: TCMU - Town Center Mixed Use
Lot Frontage: 144
Lot Depth: 426
Water Service: Municipal
Sewer Type: Municipal
Easements: Ingress/Egress, Other
Easements Description: Comes with an Ingress/Egress Easement Plus a Signage Easement
Land Ownership: Fee Simple
Legal Description: Lengthy Legal - see Property Appraisers site or call listing agent

Demographic Statistics

Proximity: 1 mile 3 miles 5 miles
Total Population: 10,034 12,616 23,071
Median Age: 40.12 40.95 40.75
Households: 4,241 5,459 9,753


Photograph of Listing Agent

Mary Anne Windes, CCIM

Real Estate Professionals of NW FLA, Inc. Gulf Coast CMLS Member
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