The Grillehouse - Waterfront Dining Complex 8491 Navarre Pky

Investment Highlights

Walk In Ready Waterfront Restaurant Entertainment Complex Pinnacle Position along busy Navarre Pkwy- 47,000 CPD 335 FT on Santa Rosa Sound Features Fine/Casual Dining Space & Multilevel Waterfront Decks

Executive Summary

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. Welcome to 8491 & 8465 Navarre Pkwy, the perfect destination for restaurant owners and developers looking to capitalize on the vibrant market in Navarre, FL!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. Waterfront Restaurant Opportunity or Redevelopment Use in Tourist Destination of Navarre, FL!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.The main building is built out as a restaurant business and is walk-in ready and indoor-outdoor dining and bar areas. Additionally, the site is a perfect location for a redevelopment project. positioned directly on Navarre Pkwy, the location is surrounded by a dense population base, national retailers, restaurants, condominiums, and hotels.2022 UpdatesThe GrillehouseExtended the roof line adding more covered seating at GH. $ 9000Added Drop ceiling in GH to lower HVAC costs. $11kInterior of the Grillehouse was built out for a more functional layoutNew HVAC installed in Grille House Kitchen 2022Mango Mary?sThe two-story stage area was renovated to include a bar, spiral staircase, and sundeck lounge area.Added storage areas / retail shack / shed at the entrance.Added a fully functioning 31' food trailer ($50k) with a 10' vent hoodConex containers: The "expo" container sitting against the food trailer is outfitted with coolers and a freezer, heat lamps, etc., to act as the expo/server area for Mango Mary's food production.Wood decks and walkways are all new.Havana BarConex/ container is 40? and is built out to house 2 bars. In the middle is a new walk-in cooler that holds kegs and 2 beer tap walls. Daiquiri machines are located here along with ice wells and bottle coolers. All plumbed with new plumbing and electricityFizzy FlamingoThe adjacent bar on the opposite side of Havana (but still inside the 40? Conex) is the Fizzy Flamingo. It comes equipped with a tap wall, coolers, ice wells, plumbing, etc. The final Conex is 20' and used for storage.24 dump truck loads of new white sand, swings, a waterfront sitting deck with chairs, and misc. benches built out around the sitting area.Extensive inventory of picnic-style seating, bar stools, reg tables, etc.7 walk-in coolers, 2 walk-in freezersLarge $40k smoker in full working conditionTwo 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 currently used as an outdoor bar/grille and playground area. The eastern parcel houses casual/fine dining restaurants. 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 buyerRedevelopment OpportunityInterested 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 parcelsArea Info-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 national, regional, and big-box retailers.

• Sale Type    Owner User
• Property Type    Retail
• Property Subtype    Freestanding Freestanding General Retail Restaurant Freestanding
• Building Size    13,716
• Building Class    C
• Year Built    2005
• Price    4,490,000
• Price Per SF    327
• Percent Leased    Vacant
• Tenancy    Multiple
• Building Height    2 Stories
• Building FAR    0.28
• Land Acres    1.14 AC

• Dedicated Turn Lane
• Freeway Visibility
• Pylon Sign
• Restaurant
• Signage
• Waterfront