Drive-Thru Restaurant and Office
For Sale
Contact for pricing
3073 Gulf Breeze Parkway, Gulf Breeze, FL 32563
Flexible HCD-zoned building with built-in drive-thru infrastructure and a rear office/flex suite, plus ample parking.
Property Size4,347 SF
Price / SF$379.57
Days on Market57
Property Features for 3073 Gulf Breeze Parkway
General Information
Standard status
Active
Size
4,347 SF
Property subtype
Retail
Zoning
HCD
Investment Type
Owner/User
Additional Details
Business Included
Yes
Building Details
Year Built
1997
Year Renovated
2015
Buildings
1
Stories
1
Units
35
Listing Agency:
NAI Pensacola
(850) 433-0577
Listed By:
Cameron Cauley · License #FL 3284874
Source:
Crexi
Added: Jun 17
Changed: Aug 11
Last Checked: Aug 11 at 12:55PM
Displayed information is deemed reliable but is not guaranteed and should be independently verified. All listing content including descriptions, pricing, images are the copyrighted material of NAI Pensacola
Investment Insights
Based on property information with market context.
The 4,347 SF building is configured to support either a standalone quick-service restaurant or a combined food-service and office/flex use. The front 1,054 SF quick-service space is described as turn-key and includes an order counter, kitchen and prep area, walk-in cooler and walk-in freezer, three-well sink, and a POS system. Operational support is further detailed with drive-thru communication, a soda station, two reader boards, a large seating area, and men’s and women’s restrooms.
The rear 3,293 SF suite provides a second set of improvements that can function independently or be paired with the QSR portion. It includes seven private offices, large open work areas, a kitchenette, and two restrooms, along with ample parking and built-in access for tenant operations.
With flexible HCD zoning, the property is positioned for a range of restaurant, office, medical, wellness, salon, administrative, and service-based users. For operators considering food service, the inclusion of in-place drive-thru infrastructure supports quick-service or fast-casual concepts, and the listing notes potential reconfiguration capacity for a traditional full-service layout, subject to final design and code requirements. The combined building layout also allows for administrative and back-office needs alongside front-of-house operations.
The rear 3,293 SF suite provides a second set of improvements that can function independently or be paired with the QSR portion. It includes seven private offices, large open work areas, a kitchenette, and two restrooms, along with ample parking and built-in access for tenant operations.
With flexible HCD zoning, the property is positioned for a range of restaurant, office, medical, wellness, salon, administrative, and service-based users. For operators considering food service, the inclusion of in-place drive-thru infrastructure supports quick-service or fast-casual concepts, and the listing notes potential reconfiguration capacity for a traditional full-service layout, subject to final design and code requirements. The combined building layout also allows for administrative and back-office needs alongside front-of-house operations.
Key Highlights
- 4,347 SF commercial building built in 1997 with front QSR space plus a rear 3,293 SF office/flex suite.
- Front approx. 1,054 SF quick‑service restaurant includes order counter, kitchen/prep, walk‑in cooler/freezer, and POS.
- Built‑in drive‑thru infrastructure with drive‑thru communication system and two reader boards.
Financial Insights
Estimated NOI and Cap Rate
NOI = area × lease_rate × (100 − vacancy) / 100 × (1 − expense_ratio). Net Operating Income — what the owner takes home each year before mortgage payments and income tax. Effective rent (asking rent minus vacancy losses) minus operating costs (taxes, insurance, maintenance, management).
NOI / Yr
$60,990
Cap rate = NOI / list price × 100. Capitalization rate — annual return on a fully cash purchase, before financing. NOI divided by price. Higher means more income per dollar invested, but usually also more risk or older condition. 5–8% is typical for stabilized commercial property; double digits often signal distressed deals.
Cap Rate
3.70%
Suggested Prices Based on Cap Rates
Cap rates vary significantly by property type, market, and asset quality.
Typical U.S. stable-market ranges:
Multifamily — 4.5% to 6.5% (Class A in primary markets often sub-5%; Class C in secondary markets 6%+)
Industrial / Logistics — 5.0% to 7.0% (compressed heavily in recent years due to e-commerce demand)
Office — 6.5% to 9%+ (wide spread post-2020; CBD Class A vs. suburban Class B varies dramatically)
Retail — 5.5% to 8.5% (grocery-anchored on the low end, unanchored strip centers higher)
Hospitality / Hotels — 7.5% to 10%+ (higher due to operational risk)
Self-Storage — 5.5% to 7.5%
Medical Office — 6.0% to 7.5%
Net Lease (single tenant, credit) — 5.0% to 7.0% depending on tenant credit and lease term
Rules of thumb:
Primary markets (NYC, SF, LA, Boston, DC) trade at lower cap rates than secondary/tertiary markets, often by 100–200 bps (bps, aka basis points; 1 bp = 0.01%).
Class A assets trade ~50–150 bps tighter than Class B, and Class B tighter than Class C.
Cap rates move inversely with price — a lower cap rate means a higher price for the same NOI.
Spread to the 10-year Treasury is a common benchmark; historically 200–400 bps over the 10-year.
Cap Rate 5%
$1,219,800
$1.2M
Cap Rate 7%
$871,286
$871.3K
Cap Rate 9%
$677,667
$677.7K
Market Conditions
NOI Build-Up for 4,347 SF
Vacancy — income lost from leasable area expected to sit empty during the year, subtracted from gross rent.
EGI (Effective Gross Income) — gross rent minus vacancy losses, the realistic income before paying operating costs.
OpEx (Operating Expenses) — recurring costs to operate the property (property tax, insurance, utilities, maintenance, management); excludes financing and capital improvements.
NOI (Net Operating Income) — income a property generates after operating costs but before financing and taxes.
Gross rent
$113.2K $26.04/SF
− Vacancy
−$11.5K −$2.66/SF
EGI
$101.6K $23.38/SF
− OpEx
−$40.7K −$9.35/SF
NOI
$61.0K $14.03/SF
Area
Santa Rosa County, FL
Vacancy
10.20%
Lease Rate
$26.04 /SF/Yr
Expense Ratio
40.00%
Simulate Cap Rate and NOI
Suggested Prices Based on Cap Rates
Cap rates vary significantly by property type, market, and asset quality.
Typical U.S. stable-market ranges:
Multifamily — 4.5% to 6.5% (Class A in primary markets often sub-5%; Class C in secondary markets 6%+)
Industrial / Logistics — 5.0% to 7.0% (compressed heavily in recent years due to e-commerce demand)
Office — 6.5% to 9%+ (wide spread post-2020; CBD Class A vs. suburban Class B varies dramatically)
Retail — 5.5% to 8.5% (grocery-anchored on the low end, unanchored strip centers higher)
Hospitality / Hotels — 7.5% to 10%+ (higher due to operational risk)
Self-Storage — 5.5% to 7.5%
Medical Office — 6.0% to 7.5%
Net Lease (single tenant, credit) — 5.0% to 7.0% depending on tenant credit and lease term
Rules of thumb:
Primary markets (NYC, SF, LA, Boston, DC) trade at lower cap rates than secondary/tertiary markets, often by 100–200 bps (bps, aka basis points; 1 bp = 0.01%).
Class A assets trade ~50–150 bps tighter than Class B, and Class B tighter than Class C.
Cap rates move inversely with price — a lower cap rate means a higher price for the same NOI.
Spread to the 10-year Treasury is a common benchmark; historically 200–400 bps over the 10-year.
Cap Rate 5%
$1,219,800
Cap Rate 7%
$871,286
Cap Rate 9%
$677,667
Alternative Uses
Best Use
Healthcare Medical
$871.3K
$762.4K – $1.02M
NOI $60,990 @ 7.0% cap · market cap 3.70%
Second Best
Specialty Retail
$820.4K
$717.8K – $957.1K
NOI $57,426 @ 7.0% cap · market cap 3.48%
Theoretical Best
Office A
$1.07M
$936.6K – $1.25M
NOI $74,928 @ 7.0% cap · market cap 4.54%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
Turnkey business
Opportunity
Location Intelligence
Trade Area within ½ mile
870
Businesses Nearby
Explore this area
Business Placement
Demographics for 32563, FL
27,329
Population
12,883
Households
2.1
Avg Household Size
43
Median Age
40%
College-Educated
95%
High-School Grad
16.6 sq mi
ZIP Area
1,646
Density / Sq Mi
$97,139
Median Household Income
$41,647
Median Earnings
$1,692
Median Rent
$362,500
Median Home Value
Market
Vacancy Rate% for Office in South region
Questions? Ask Rey
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Frequently Asked Questions
What type of property is this?
Drive through restaurant - Flexible HCD-zoned building with built-in drive-thru infrastructure and a rear office/flex suite, plus ample parking.
Where is this drive through restaurant located?
The property is located at 3073 Gulf Breeze Parkway Gulf Breeze, FL.
What is the asking price?
The asking price for this property is $1,650,000.
What are key features of this property?
This property features: 4,347 SF commercial building built in 1997 with front QSR space plus a rear 3,293 SF office/flex suite.; Front approx. 1,054 SF quick‑service restaurant includes order counter, kitchen/prep, walk‑in cooler/freezer, and POS.; Built‑in drive‑thru infrastructure with drive‑thru communication system and two reader boards.
