1688 Scenic Gulf Drive, Miramar Beach, FL 32550
$8,450,000
Property Type:
Commercial for Sale
Lot Size (sq. ft.):
19,602
Status:
Active
Current Price:
$8,450,000
List Date:
12/20/2023
Last Modified:
2/09/2024
Description
HUGE PRICE IMPROVEMENT! Free Standing Building. Highly desirable retail location across the road from the Gulf of Mexico. Tremendous resort visitor traffic. The owner of building occupies the majority (4574sq ft) and has 3 other tenants including national franchise Dairy Queen, Emerald Coast Beach Home Realty, and Pascali Kitchen, all lease 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 wants to sell all 3 listings together 1200, 1688 & 2052 Scenic Gulf Dr at $18,500,000
More Information MLS# 931628
None
Current Price: $8,450,000
Status Change Info
Status: Active
Contract Info
GCCMLS Number: 30803800
List Date: 2023-09-05
List Price: $8,450,000
Listing Board: Emerald Coast
Location, Tax and Legal
Area: 15 - Miramar/Sandestin Resort
Street #: 1688
Street Name: Scenic Gulf
Street Suffix: Drive
State: FL
Zip Code: 32550
County: Walton
Sub Area: 1502 - Miramar Beach S. of 98 w/exception of Sandestin Resort
Parcel ID: 32-2S-21-42260-000-0231
Property Name: PARADISE FOUND
Legal Description: LOTS 23,24,25 & 26 N OF HWY 98 WARREN HGTS S/D OR 59-226 OR 1873-299 OR 2550-1100 OR 2885-2481
General Property Info
Listed on GCCMLS: Yes
Vacant: No
Immediate Occupancy: Yes
Acreage: 0.45
Lot SqFt: 19600
Lot Frontage: 200
Lot Depth: 98
CAM: 34639.35
Zoning: Commercial
Listing Info, Tax & Legal
As Is: Yes
Remarks & Misc
Remarks: HUGE PRICE IMPROVEMENT! Free Standing Building. Highly desirable retail location across the road from the Gulf of Mexico. Tremendous resort visitor traffic. The owner of building occupies the majority (4574sq ft) and has 3 other tenants including national franchise Dairy Queen, Emerald Coast Beach Home Realty, and Pascali Kitchen, all lease 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 wants to sell all 3 listings together 1200, 1688 & 2052 Scenic Gulf Dr at $18,500,000
Office/Member Info
Cooperative Comp: 1.5
Cooperative Comp Type: %
Business Only
Real Estate Option: Real Estate Conveys
Retail
Year Built: 1974
Building SqFt: 7417
# of Units: 4
Property Features
Class: Business Only; Retail
Construction Status: Existing
Listing Office: Emerald Coast Realty Group
Last Updated: February - 09 - 2024
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