Restaurant Business with Commercial
For Sale
$550,000
4346 Legendary Drive B108, Destin, FL 32541
Operating restaurant business with furnished dining areas, outdoor seating, commercial kitchen equipment, and a transferable lease subject to landlord approval.
Property Size5,518 SF
Price / SF$99.67
Days on Market59
Property Features for 4346 Legendary Drive B108
General Information
Standard status
Active
Size
5,518 SF
Restaurant
Patio
Yes
Equipment Included
Yes
Additional Details
Furnished
Yes
Business Included
Yes
Building Details
Year Built
2019
Listing Agency:
Hilltop Legacy Realty
Listed By:
Christopher Moseley
(850) 541-6427
Source:
Dardengroupusa
Added: Jul 21
Changed: Sep 14
Last Checked: Sep 15 at 6:19PM
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 Hilltop Legacy Realty
Investment Insights
Based on property information with market context.
Restaurant business offered with the operating assets needed to continue the existing concept, including commercial kitchen equipment, walk-in cooler, freezers, refrigeration, cooking equipment, smallwares, POS system, furniture, fixtures, décor, signage, inventory, recipes, and operating procedures. The business also includes its website, social media accounts, branding, and customer goodwill. The premises contain 5,518 square feet and were built in 2019.
Located at 4346 Legendary Drive B108 in Destin, Florida, the restaurant operates from a leased site with indoor and outdoor seating and on-site parking. Lease transfer remains subject to landlord approval. The sale includes the business assets and branded operating platform associated with the restaurant.
Located at 4346 Legendary Drive B108 in Destin, Florida, the restaurant operates from a leased site with indoor and outdoor seating and on-site parking. Lease transfer remains subject to landlord approval. The sale includes the business assets and branded operating platform associated with the restaurant.
Key Highlights
- 5,518‑square‑foot restaurant premises built in 2019
- Commercial kitchen with walk‑in cooler, freezers, refrigeration, cooking line, and smallwares
- Indoor and outdoor seating with on‑site parking
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
$37,626
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
6.84%
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%
$752,520
$752.5K
Cap Rate 7%
$537,514
$537.5K
Cap Rate 9%
$418,067
$418.1K
Market Conditions
NOI Build-Up for 5,518 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
$56.3K $10.20/SF
− Vacancy
−$2.5K −$0.46/SF
EGI
$53.8K $9.74/SF
− OpEx
−$16.1K −$2.92/SF
NOI
$37.6K $6.82/SF
Area
Walton County, FL
Vacancy
4.50%
Lease Rate
$10.20 /SF/Yr
Expense Ratio
30.00%
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%
$752,520
Cap Rate 7%
$537,514
Cap Rate 9%
$418,067
Alternative Uses
Best Use
Specialty Retail
$1.20M
$1.05M – $1.40M
NOI $84,028 @ 7.0% cap · market cap 15.28%
Second Best
Industrial
$537.5K
$470.3K – $627.1K
NOI $37,626 @ 7.0% cap · market cap 6.84%
Theoretical Best
Office A
$1.39M
$1.21M – $1.62M
NOI $97,139 @ 7.0% cap · market cap 17.66%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Current Use
Lease Details
Turnkey business
Opportunity
Location Intelligence
Trade Area within ½ mile
1,005
Businesses Nearby
546k
Monthly Visits Nearby
Balanced
Demand for This Use
Explore this area
Business Placement
Foot Traffic Nearby
Apparel 46%
Dining 16%
Shops & Services 13%
Groceries 8%
Bass Pro Shops
Apparel
76,054 visits/mo
0.4 miles
Publix
Groceries
43,230 visits/mo
0.4 miles
Belk
Apparel
37,560 visits/mo
0.2 miles
AMC Destin Commons 14
Leisure
34,379 visits/mo
0.3 miles
Ross Dress for Less
Apparel
31,414 visits/mo
0.2 miles
Demographics for 32541, FL
18,419
Population
16,390
Households
1.1
Avg Household Size
45
Median Age
48%
College-Educated
95%
High-School Grad
12.6 sq mi
ZIP Area
1,462
Density / Sq Mi
$93,004
Median Household Income
$47,991
Median Earnings
$1,976
Median Rent
$498,600
Median Home Value
Market
Vacancy Rate% for Retail in South region
Questions? Ask Rey
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Frequently Asked Questions
What type of property is this?
Conventional restaurant - Operating restaurant business with furnished dining areas, outdoor seating, commercial kitchen equipment, and a transferable lease subject to landlord approval.
Where is this conventional restaurant located?
The property is located at 4346 Legendary Drive B108 Destin, FL.
What is the asking price?
The asking price for this property is $550,000.
What are key features of this property?
This property features: 5,518‑square‑foot restaurant premises built in 2019; Commercial kitchen with walk‑in cooler, freezers, refrigeration, cooking line, and smallwares; Indoor and outdoor seating with on‑site parking
