Turnkey Restaurant Space in
3983 DESTINATION Dr 102 Osprey, FL 34229
3983 DESTINATION Dr 102, Osprey, FL, 34229
$1,050,000
For Sale
$1,050,000
Restaurant space in Bay Street Village and Towncenter.
Property Size2,030 SF
Price / SF$517.24
Days on Market94
Property Features for 3983 DESTINATION Dr 102
General Information
- Standard status
- Active
- Size
- 2,030 SF
- Property subtype
- Commercial
Building Details
- Year Built
- 2008
Listing Agency
Coldwell Banker
(727) 642-1151
Listed by
Maria Mercado Herbert, PA · License #3032151
(727) 642-1151
Source
Elliman
Added: Apr 15 Checked: Jul 10 at 3:54 pm
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 Coldwell Banker
Investment Insights
Based on property information with market context.
Located in Bay Street Village and Towncenter at 3983 Destination Drive, Osprey, this 2,030 square-foot ground-floor space is suitable for a restaurant or other retail concept. The space is fully built out with seating for approximately 150 guests, including indoor and outdoor dining areas. The interior features a dining room and a central bar. Restaurant equipment conveys, and furniture is available. The property has exposure and signage visibility with an entrance tower facing US-41. The location is a walkable destination with businesses such as a breakfast and lunch bistro, art galleries, jewelry shops, a spa, a florist, a dentist, and coworking spaces. Over 270 new luxury residential units have been completed next to the property. The unit is located along US-41 in Sarasota County. The property is zoned CG, offering commercial use options. Second-floor space is available separately and includes a balcony, additional kitchen and prep areas, storage, a walk-in cooler, and an extra dining or coffee bar area. Both units are easy to split, providing flexible space options depending on the operator's needs. The bike score is 47, and the walk score is 35.
Key Highlights
- Turnkey 2,030 SF ground‑floor restaurant space with seating for 150, ready for immediate operation.
- Located in Bay Street Village and Towncenter on US‑41, offering excellent exposure and signage visibility.
- Thriving, walkable location surrounded by complementary businesses and 270+ new luxury residential units.
Local Financial Insights For Specialty Retail
Simulate Cap Rate and NOI
NOI Build-Up
- 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.
| Component | $ | $/SF |
|---|---|---|
| Gross rent | $50.7k | $24.96 |
| − Vacancy | −$2.8k | −$1.37 |
| EGI | $47.9k | $23.59 |
| − OpEx | −$12.0k | −$5.90 |
| NOI | $35.9k | $17.69 |
2,030 SF · lease $24.96/SF/yr · vacancy 5.50% · expense 25.00%
Alternative Uses
Best Use
Specialty Retail
$513.0K
$448.9K – $598.5K
NOI $35,912 @ 7.0% cap · market cap 3.42%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$576.9K
$504.8K – $673.1K
NOI $40,386 @ 7.0% cap · market cap 3.85%
Zoning and permitted uses should be independently verified with local authorities.
Property Analytics
Property Profile
Location Intelligence
Current Use by Public Records
Anne Crowley, Acupuncture ...
Physician
Sutra Gallery LLC
Art Gallery
Sarasota Bay Facials
Spa & Massage Center
Valor Jets
Aviation Consultant
Jeremy Pinkas Carpets
General Contractor
Similar For Sale Nearby
Similar Off Market Nearby
- Chick-N-Nooga — S Tamiami Trail, Osprey, FL 34229
FAQs
What type of property is this?
Restaurant - Restaurant space in Bay Street Village and Towncenter.
Where is this restaurant located?
The property is located at 3983 DESTINATION Dr 102 Osprey, FL.
What is the asking price?
The asking price for this property is $1,050,000.
What are key features of this property?
This property features: Turnkey 2,030 SF ground‑floor restaurant space with seating for 150, ready for immediate operation.; Located in Bay Street Village and Towncenter on US‑41, offering excellent exposure and signage visibility.; Thriving, walkable location surrounded by complementary businesses and 270+ new luxury residential units.
