115 Palmetto StDestin, FL 32541

Property Details for 115 Palmetto St

Year built

1985

Construction

STEEL FRAME

Lot size

0.34 AC

Property size (Sq ft)

4,140 SF

Property type

Specialty properties

Property subtype

Other specialty properties

APN

00-2S-22-0310-000B-2170

APU

002S220310000B2170

Description

This exceptional commercial property, located at 115 Palmetto Street Unit 115, Destin, Florida, presents a unique investment opportunity. Situated on a 0.34-acre lot in the desirable North Harbor District, this 3,600 square foot building has been under the same ownership for almost four decades. Its prime location offers unparalleled visibility and accessibility, boasting a high average annual daily traffic count of 40,000 vehicles at the Palmetto Street/Highway 98 intersection. A median cut provides convenient access from both eastbound and westbound traffic on Highway 98. The property includes existing bar and kitchen infrastructure, ready for immediate use or customization by the new owner. While a portion of the interior sustained storm damage, the roof was completely replaced in 2021, ensuring structural integrity. This presents a rare chance to acquire a value-add property in a thriving Destin location. Showings begin the week of March 4, 2024. The asking price is $1,095,000.

• Alternative Use

  Use

  Valuation

  Residential

  $641,785

  Hospitality

  $587,872

  Educational

  $489,102

  Medical

  $505,923

  Retail

  $760,826

Location Insight

City

Destin

County

Okaloosa

State

Florida

Latitude

30.3957

Longitude

-86.5079

CBSA code

18880

CBSA name

CRESTVIEW-FORT WALTON BEACH-DESTIN, FL METROPOLITAN STATISTICAL AREA

Property Tax & Assessments

FAQs

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