Two-Level Restaurant with
3983 DESTINATION DR, Osprey, FL 34229
For Sale
Contact for pricing
Equipped restaurant space includes separate food preparation, dining, beverage service, and covered outdoor areas.
Property Size3,800 SF
Price / SF$315.79
Days on Market23
Property Features for 3983 DESTINATION DR
General Information
Standard status
Size
Property subtype
Restaurant
Patio
Equipment Included
Additional Details
Floor
End Cap
Listing Agency:
Loyd Robbins & Co
Listed By:
Loyd Robbins · License FL #3577625
(941) 356-9659
Source:
Crexi
Added: Oct 19
Changed: Nov 8
Last Checked: Nov 8 at 3:42PM
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 Loyd Robbins & Co
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Investment Insights
Based on property information with market context.
At 3983 Destination Drive, Units 102 and 202, this end-cap restaurant property in Bay Street Village & Town Center spans two levels and includes fixtures and equipment. The combined interior area is 3,800± Sq Ft. The first floor contains a dining room, commercial kitchen, indoor bar, Italian marble deli case, and covered patio with bar area. Upstairs are additional kitchen and production space, a walk-in cooler, coffee and wine bar, office, and a separate room.
Stairs and an elevator connect the floors, with a commercial dumbwaiter for moving food between preparation areas. Covered outdoor space totals approximately 1,500± Sq Ft across both levels, including a second-floor patio. The property is near US 41 and East Bay Street in Osprey. The existing configuration also accommodates catering, specialty food production, bakery offerings, and private dining.
Stairs and an elevator connect the floors, with a commercial dumbwaiter for moving food between preparation areas. Covered outdoor space totals approximately 1,500± Sq Ft across both levels, including a second-floor patio. The property is near US 41 and East Bay Street in Osprey. The existing configuration also accommodates catering, specialty food production, bakery offerings, and private dining.
Key Highlights
- 3,800± Sq Ft of combined interior space across two levels
- Approximately 1,500± Sq Ft of covered outdoor space, including patios on both floors
- First‑floor dining room, commercial kitchen, indoor bar, deli case, and covered patio bar
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$67,224
Cap Rate
5.60%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$1,344,480
$1.3M
Cap Rate 7%
$960,343
$960.3K
Cap Rate 9%
$746,933
$746.9K
Market Conditions
NOI Build-Up for 3,800 SF
Gross rent
$94.8K $24.96/SF
− Vacancy
−$5.2K −$1.37/SF
EGI
$89.6K $23.59/SF
− OpEx
−$22.4K −$5.90/SF
NOI
$67.2K $17.69/SF
Area
Sarasota County, FL
Vacancy
5.50%
Lease Rate
$24.96 /SF/Yr
Expense Ratio
25.00%
Simulate Cap Rate and NOI
Suggested Prices Based on Cap Rates
Cap Rate 5%
$1,344,480
Cap Rate 7%
$960,343
Cap Rate 9%
$746,933
Alternative Uses
Best Use
Specialty Retail
$960.3K
$840.3K – $1.12M
NOI $67,224 @ 7.0% cap · market cap 5.60%
Second Best
Industrial
$626.0K
$547.8K – $730.3K
NOI $43,820 @ 7.0% cap · market cap 3.65%
Theoretical Best
Office A
$1.08M
$945.0K – $1.26M
NOI $75,599 @ 7.0% cap · market cap 6.30%
Zoning and permitted uses should be independently verified with authorities.
How Realmo checks its estimates
Property Analytics
Who owns this building?
See the owner, sales and loan history
Open Analytics
Current Use
Location Intelligence
Trade Area within ½ mile
437
Businesses Nearby
100k
Monthly Visits Nearby
Under-served
Demand for This Use
Explore this area
Business Placement
Foot Traffic Nearby
Superstores 81%
Shops & Services 19%
Walmart
Superstores
80,599 visits/mo
0.2 miles
Murphy USA
Shops & Services
11,555 visits/mo
0.0 miles
BP
Shops & Services
7,450 visits/mo
0.2 miles
Extra Space Storage
Shops & Services
412 visits/mo
0.5 miles
Demographics for 34229, FL
7,780
Population
4,662
Households
1.7
Avg Household Size
63
Median Age
58%
College-Educated
97%
High-School Grad
6.0 sq mi
ZIP Area
1,297
Density / Sq Mi
$93,949
Median Household Income
$56,047
Median Earnings
$2,008
Median Rent
$635,800
Median Home Value
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Cap Rate, Value Estimation, Potential NOI and more
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Market
Vacancy Rate% for Retail in South region
Frequently Asked Questions
What type of property is this?
Conventional restaurant - Equipped restaurant space includes separate food preparation, dining, beverage service, and covered outdoor areas.
Where is this conventional restaurant located?
The property is located at 3983 DESTINATION DR Osprey, FL.
What is the asking price?
The asking price for this property is $1,200,000.
What are key features of this property?
This property features: 3,800± Sq Ft of combined interior space across two levels; Approximately 1,500± Sq Ft of covered outdoor space, including patios on both floors; First‑floor dining room, commercial kitchen, indoor bar, deli case, and covered patio bar
