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The Grillehouse - Waterfront Dining Complex 8491 Navarre Pky

13,716 SF Retail Building Navarre, FL 32566 $4,490,000 ($327/SF)

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 Updates
The Grillehouse
Extended the roof line adding more covered seating at GH. $ 9000
Added Drop ceiling in GH to lower HVAC costs. $11k
Interior of the Grillehouse was built out for a more functional layout
New HVAC installed in Grille House Kitchen 2022
Mango Mary’s
The 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 hood
Conex 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 Bar
Conex/ 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 electricity
Fizzy Flamingo
The 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 freezers
Large $40k smoker in full working condition
Two 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 buyer
Redevelopment Opportunity
Interested 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 parcels
Area 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.

Taxes & Operating Expenses (Actual - 2024) Click Here to Access

Annual Annual Per SF
Taxes - -
Operating Expenses - -

Taxes & Operating Expenses (Actual - 2024) Click Here to Access

Taxes
Annual -
Annual Per SF -
Operating Expenses
Annual -
Annual Per SF -
Total Expenses
Annual $99,999
Annual Per SF $9.99

Property Facts Under Contract

Sale Type
Owner User
Property Type
Retail
Property Subtype
Freestanding
Building Size
13,716 SF
Building Class
C
Year Built
2005
Price
$4,490,000
Price Per SF
$327
Tenancy
Multiple
Building Height
2 Stories
Building FAR
0.28
Lot Size
1.14 AC
Zoning
HCD - To provide for a wide range of commercial uses in appropriate and easily accessible locations adjacent to major transportation corridors
Parking
50 Spaces (3.65 Spaces per 1,000 SF Leased)
Frontage
334 FT on Navarre Pky

Amenities

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

Nearby Major Retailers

Waffle House
Centennial Bank
Winn-Dixie
Aldi
Publix Super Markets
Buffalo Wild Wings
Regions Bank
Starbucks

PROPERTY TAXES

PROPERTY TAXES

Parcel Number
20-2S-26-0000-00400-0000
Land Assessment
$700,000 (2023)
Improvements Assessment
$679,596 (2023)
Total Assessment
$1,379,596 (2023)
  • Listing ID: 33396362

  • Date on Market: 9/5/2023

  • Last Updated:

  • Address: 8491 Navarre Pky, Navarre, FL 32566

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