Former Golden Corral in Destin for Sale
Posted by Destin Real Estate Sales on Thursday, December 28th, 2017 at 1:46pm.
You may be familiar with this Destin property for sale, as it was a well-known destination for tasty, affordable family meals.
Even if you are not a patron of Golden Corral, chances are you've passed by this spot many times. Real Estate value is all about location, and this place is all that and then some.
This commercial property offered for sale is located on a prime 2.23-acre parcel on the north side of Harbor Boulevard (Highway 98) just west of the Main Street juncture. The traffic count at this location averages almost 50,000 vehicles daily. Obviously, traffic counts are even higher during the busy tourist season. It has 144 linear feet of road frontage and a paved parking lot with 135 spaces.
A big bonus to this property is that it comes with an expansive pre-existing restaurant with 9,737 square feet of space that served as a profitable Golden Corral for almost twenty years. The property is landscaped around the building as well as the parking lot with towering palm trees and shrubbery.
The building includes a large entry foyer for waiting guests and three spacious dining rooms located in the center and at each end. Since the tenant has moved out, it is ready to be reinvented and remodeled as a new restaurant to open in time for the bustling 2018 tourist season. However, the sky is the limit as to what kind of potential this property may have since it has a highly sought after Town Center Mixed Use zoning designation by the city of Destin. The property can be used for high-density development for restaurants or bars, hotels or motels, permanent multi-family housing, professional office space, healthcare services, fitness centers, grocery stores, specialty stores, general retail centers, liquor store outlets, motion picture theaters and gas station convenience stores to name a few.
This 9,737 restaurant building with 2.23 acres of land is listed at $3,000,000. Currently, there are eight commercial pieces of property with existing buildings on them for sale in Destin ranging from $895,000 for a 3,776 retail building on a .35 acre lot to $4,395,000 for a 24,469 square foot building on a 1.84-acre lot. The list price per square foot of each building for sale averages at $141.16 psf.
There are five commercial property parcels for sale in Destin without buildings on them ranging from $2,600,000 for a 9.51-acre lot to $9,950,000 for a 35.45-acre parcel. The list price for each vacant parcel averages out at $376,137 per acre.
If you are interested in receiving more detailed information and a comparative market analyses on this commercial property or any others, contact our Ocean Reef Real Estate Office today at (877) 392-6085.