Smiling JOe avatar
SoWal Expert
4,220 views
Anyone interested in buying the Wheelhouse and restoring it from the fire? The price just decreased from $15M to $12.9M. :shock:

Replies

27
Kimmifunn avatar
Funnkalicious
#2
Anyone interested in buying the Wheelhouse and restoring it from the fire? The price just decreased from $15M to $12.9M. :shock:
Are you kidding? Are they selling the business and the land or just the land?
SHELLY avatar
SoWal Insider
#3
Anyone interested in buying the Wheelhouse and restoring it from the fire? The price just decreased from $15M to $12.9M. :shock:

$12.9M is a bit steep to restore a "local greasy spoon" to its former glory (albeit a great "greasy spoon'). Maybe replace it with condos...goodness knows we can always use more condos.
Beach Fanatic
#4
Anyone have any idea what Cocoons asking price is? :idontno:
Smiling JOe avatar
SoWal ExpertAuthor
#5
Anyone have any idea what Cocoons asking price is? :idontno:
I think around $2.3 M
30A Skunkape avatar
Skunky
#6
$12.9M is a bit steep to restore a "local greasy spoon" to its former glory (albeit a great "greasy spoon'). Maybe replace it with condos...goodness knows we can always use more condos.
Yeah, they can brag on the greasy stainless steel appliances and granite countertops :funn:
Sandcastle avatar
Beach Fanatic
#7
It looks like the total land area is only 0.72 acre. :idontno:
Smiling JOe avatar
SoWal ExpertAuthor
#8
It looks like the total land area is only 0.72 acre. :idontno:
That sounds about right for Cocoon's, but Wheelhouse is closer to one acre. It also includes the Seagrove Icehouse and 4 small rental units.
jessifunn avatar
superJfunn
#9
That sounds about right for Cocoon's, but Wheelhouse is closer to one acre. It also includes the Seagrove Icehouse and 4 small rental units.
in that case.....
Beach Fanatic
#10
I think around $2.3 M
oooohhh..compared to the Wheelhouse, that would seem like a bargain!
Sandcastle avatar
Beach Fanatic
#11
That sounds about right for Cocoon's, but Wheelhouse is closer to one acre. It also includes the Seagrove Icehouse and 4 small rental units.

I don't know. :idontno: The Property Appraiser shows the Elizabeth Flower's property, including 6 buildings, totals 0.718 acres. The tax value is $1,736,000.
Beach Fanatic
#12
Are you kidding? Are they selling the business and the land or just the land?

There is no business left to sell. It is a burnt out shell. Been closed for a year or so.
Smiling JOe avatar
SoWal ExpertAuthor
#13
I don't know. :idontno: The Property Appraiser shows the Elizabeth Flower's property, including 6 buildings, totals 0.718 acres. The tax value is $1,736,000.
Perhaps that is the case, but I believe her adjacent property, roughly totalling .4 acres is also included in the sale, giving a total property area of over 1.1 acres. ;-)
Sarah Moss avatar
Beach Lover
#14
I don't know. :idontno: The Property Appraiser shows the Elizabeth Flower's property, including 6 buildings, totals 0.718 acres. The tax value is $1,736,000.

The property appraiser's website lists my lot being almost .2 of an acre larger...as well as showing a small mobile home in addition to my existing house...I don't trust these walton county websites!
Sandcastle avatar
Beach Fanatic
#15
The property appraiser's website lists my lot being almost .2 of an acre larger...as well as showing a small mobile home in addition to my existing house...I don't trust these walton county websites!

Everything that I own shows up just as it is.

If the owner is firm on the price, the Wheelhouse is one property that WILL be on the market until hell freezes over.
SHELLY avatar
SoWal Insider
#16
The property appraiser's website lists my lot being almost .2 of an acre larger...as well as showing a small mobile home in addition to my existing house...I don't trust these walton county websites!

AH SO.....But does your property have the BIG 3 in real estate? ....location, location and the "burnt out shell"!
JB avatar
Beach Fanatic
#17
Of course, the price for this property is ridiculously steep, but I have always thought a really good BBQ place would do well on 30-A. But not at that price. They would never make their overhead.
Smiling JOe avatar
SoWal ExpertAuthor
#18
Of course, the price for this property is ridiculously steep, but I have always thought a really good BBQ place would do well on 30-A. But not at that price. They would never make their overhead.
I think the property is zoned for hotel, etc., hence the price. Prime location. My guess is that it won't be long before they are serving ice cubes downstairs (hell).
Sandcastle avatar
Beach Fanatic
#19
My guess is that it won't be long before they are serving ice cubes downstairs (hell).

GOD, I hope you're right. It would be nice to have a nice COLD martini while I'm serving my time. :biggrin:
SHELLY avatar
SoWal Insider
#20
Of course, the price for this property is ridiculously steep, but I have always thought a really good BBQ place would do well on 30-A. But not at that price. They would never make their overhead.

Menu:

1/2 BBQ Chicken
Choice of 2: Beans, Slaw, Fries
Texas Toast.........................................$29.95
Beach Fanatic
#21
SHELLY,

Your price looks a little low to me...
JB avatar
Beach Fanatic
#22
SHELLY,

Your price looks a little low to me...

Slab of ribs - $39.95
Extra sauce - $7.95
Smiling JOe avatar
SoWal ExpertAuthor
#23
SHELLY,

Your price looks a little low to me...
I think so to, unless you want to lose money.
SHELLY avatar
SoWal Insider
#24
I think so to, unless you want to lose money.

So it looks like SoWal will be devoid of BBQ or a Greasy Spoon in the future....civilization, as we know it, is dead.
Smiling JOe avatar
SoWal ExpertAuthor
#25
So it looks like SoWal will be devoid of BBQ or a Greasy Spoon in the future....civilization, as we know it, is dead.
not if you know how to cook.;-)
Babyblue avatar
Beach Fanatic
#26
Anyone interested in buying the Wheelhouse and restoring it from the fire? The price just decreased from $15M to $12.9M. :shock:

Yes.

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