Attention fortunate buyers and investors! Here is a unique opportunity to own a brand new gracious dream home near the beautiful beach that also provides an incredible opportunity for vacation rental income. This 5,200 square foot hospitable home is to be located in the established residential community of Gulf Pines. This special treasure is hidden away in a wonderful world of its own, but located in the heart of magnificent Miramar Beach nestled beside the western boundary of the prestigious Sandestin Resort. The awesome sought after locale is highly popular due to close proximity to gulf front restaurants, grocery stores, wine outlets and bargain shopping at the famed Silver Sands Premium Outlets. Nearby Sandestin features Baytowne Wharf as well as Grand Boulevard which serves as a fun family destinations featuring free outdoor musical concerts, seasonal festivals, bayside restaurants, lively bars, specialty boutiques and abundant amusements. It’s no wonder that a professional estimate of gross rental income for this six bedroom home will surpass $220,000 in its first full year. The .29 acre property on Overlook Circle is a minute’s stroll away from the community’s gated pavilion access to the private sugary shoreline. The neighborhood also has a lovely lake lagoon festooned with a fountain where guests may fish.
This new vacation home will be three full stories tall but also will feature a fourth-floor rooftop Observation Tower with panoramic views of the gorgeous gulf and grounds. Each level will include covered, columned open porches that span all the way across for enjoyment of the vivid views and breezy salt air. They will be directly accessible from the Master Bedroom Suite, many of the Guest Bedrooms and the main living area. The Master Bedroom and most of the Guest Bedrooms will also include luxurious en-suite baths.
This brand new home with six bedrooms may receive custom-built choices by the fortunate new owner for the interiors. It is listed at $1,975,000, and 5,200 square feet will make it the largest home in Gulf Pines for an average of $448 per square foot. The current largest 3,796 square foot home is also on Overlook Circle but a bit further from the beach. It was completed in 2002 and listed for $1,699,000 with five bedrooms and 3,796 square feet which also comes in at $448 per square foot.
Currently, there are eight existing homes for sale in Gulf Pines priced from $649,000 to $3,300,000. The most expensive listing is also the smallest but is a gulf front property directly on the beach with three bedrooms and three baths encompassing 1,500 square feet which comes to an average of $2,200 per square foot. The average price for the comparable interior homes listed for sale stands at $928,333 for $328 per square foot.
Contact our Ocean Reef Real Estate Office today at (877) 392-6085 for more detailed information, schedule an opportunity to meet the builder and explore exciting individual options for your own choice of colors, fixtures, appliances as well as luxurious appointments.