Add Listing
    For Sale
    • For Sale
    • For Lease
    • Recently Sold
    • Property Lookup
    • Brokers
    AI Search
    Back to Search
    The Largest CRE Database in the US with Over 1 Million Listings

    13331 HWY 98 Destin, FL 32550

    Sponsored
    Source: https://www.saltercompany.com
    For Sale
    $6,900,000

    6 Acres, High Traffic, Divisible

    Property size:
    261,360 SF

    Property Features for 13331 HWY 98

    General Information

    Property type
    Other land
    Square Feet
    261,360 SF
    Price / Square Foot
    $26
    Elevators
    N/A
    Lot Size
    261,360 SF

    Overview

    Destin Commercial Land on Highway 98

    This 6.06-acre commercial parcel is located in Destin, Florida, directly on Highway 98. The property has over 500 feet of road frontage and benefits from visibility and accessibility. The location experiences a daily traffic count exceeding 53,000 vehicles (FDOT 2023 data). The property is zoned for mixed-use development with a density allowance of 125,000 square feet, allowing for a range of development possibilities, from large-scale projects to smaller, subdivided outparcels. The seller is open to various transaction structures, including outright sale, ground lease, or build-to-suit arrangements. This property presents a commercial land holding in a high-growth area with infrastructure and high traffic volume. The property's location in Destin enhances its investment potential. The land is divisible into smaller parcels.

    We can help!

    Listing Contact
    Paul Salter

    Learn more

    HighLights

    • High‑traffic location on Highway 98 in Destin, FL, boasting 53,000 cars daily.
    • 6.06 acres of prime commercial land, divisible into smaller parcels.
    • Mixed‑use development potential with 125,000 square feet density entitlement.
    Property Profile Location Intelligence

    Current Use by Public Records

    Land

    Suggested Use

    Restaurant Law Firm Real Estate Agency Spa & Massage Center Dental Office Hair Salon Nail Salon Building Supply Auto Repair Shop Gym & Fitness Center

    Zoning and permitted uses should be independently verified with local authorities.

    Location Insight

    City
    Destin
    State
    Florida

    Nearby Similar for Sale

    • New
      $110,000

      Legendary Marina Boat Slip in Destin

      Boat slip at Legendary Marina, 'The World's Luckiest Fishing Village'.
      4601 Legendary Marina Dr, Destin, FL 32541
      View Details
    • $200,000

      Destin, FL Boat Slip

      36 x 16 ft wet slip with 24-thousand pound lift.
      770 Hbr Blvd Unit, Destin, FL 32541
      View Details
    • New
      $439,500
      1,825 SF

      Spacious Single-Level Home in Destin

      Centrally located three-bedroom home with modern upgrades and investment potential.
      4218 Jade Loop, Destin, FL 32541
      View Details
    • $199,000

      Dry Storage Boat Slip in Destin

      Bottom level dry storage boat slip in Legendary Yacht Club.
      4601 D-012, Destin, FL 32541
      View Details
    • $669,000
      1,425 SF

      Destin Duplex on Large Lot

      Duplex in Destin, Florida with long-term tenants.
      619 Mimosa Ave, Destin, FL 32541
      View Details
    • $160,000

      Destin Harbor Dock Slip

      Dock slip on Destin Harbor with water and power.
      770 Harbor Blvd, Destin, FL 32541
      View Details
    • Contact for pricing
      3,380 SF

      Emerald Coast Office/Retail Space

      1,086 SF office/retail space near Destin's attractions and beaches.
      36164 Emerald Coast Pkwy, Destin, FL 32541
      View Details
    • $165,000

      Marbella Yacht Club Boat Slip

      55 x 19 ft wet slip in Destin, Florida.
      770 Hbr Blvd Unit Wet, Destin, FL 32541
      View Details
    • $465,000
      2,300 SF

      East Destin Office Space

      Nicely appointed office space in a mixed-use condo.
      4507 Furling Ln, Destin, FL 32541
      View Details
    • $1,950,000
      5,258 SF

      Harbor Blvd Commercial Office Buildings

      Two office buildings on 0.46 acres with parking.
      725 Harbor Blvd, Destin, FL 32541
      View Details
    • $217,000
      746 SF

      First Floor Office Suite

      Office suite featuring a lobby, break area, and offices.
      543 Harbor Blvd, Destin, FL 32541
      View Details
    • $200,000

      Destin Office Space For Sale

      Well-maintained office space in central Destin commercial center.
      4507 Furling Ln, Destin, FL 32541
      View Details

    FAQs

    What type of property is this?
    Land - 6 Acres, High Traffic, Divisible
    Where is this land located?
    The property is located at 13331 HWY 98 Destin, FL.
    What is the asking price?
    The asking price for this property is $6,900,000.
    What are key features of this property?
    This property features: High-traffic location on Highway 98 in Destin, FL, boasting 53,000 cars daily.; 6.06 acres of prime commercial land, divisible into smaller parcels.; Mixed-use development potential with 125,000 square feet density entitlement.
    (850) 564-0120
    Request Owner's contact information
    13331 HWY 98 Destin, FL 32550
    Message sent successfully
    Error
    If you are the owner or broker of this property and would like to edit or remove this listing please send a message to web site administrator.
    13331 HWY 98
    Destin, FL 32550
    Message sent successfully
    Error
    Email to Your Friends
    Link copied to clipboard
    Separate multiple addresses with a comma
    Message sent successfully
    Error

    Realmo Value Estimations

    Realmo estimates a property’s market value using a proprietary methodology that incorporates public data and user-submitted information. This cumulative value is generated by integrating a variety of conventional and innovative methods. 

    Disclaimer

    These figures are not official appraisals and should not be used as a substitute for a valuation performed by a licensed appraiser.
    Actual market value may differ due to factors not captured in the data. Estimates are offered for informational purposes only, and users should conduct independent research before making financial or investment decisions.
    By using this feature, you acknowledge that Realmo is not responsible for actions taken based on these estimates.

    AI approach

    Realmo AI Method estimates property value using machine learning models trained on millions of comparable listings, transactions, and market signals. It analyzes property features, location intelligence data, and current market dynamics to predict the most probable market value in real time.

    Realmo CapRate Calculation

    Realmo calculates the Capitalization Rate (Cap Rate) to help estimate a property's potential return on investment. The Cap Rate is a fundamental metric in commercial real estate that measures the relationship between a property's net operating income and its market value.

    How We Calculate Cap Rate

    Cap Rate Formula:
    Cap Rate (%) = (Net Operating Income / Property Value) × 100

    Net Operating Income (NOI) Formula:
    NOI = Area × Lease Rate × (1 - Vacancy Rate) × (1 - Operating Expense Ratio)

    Components

    Net Operating Income (NOI) represents the annual income a property generates after operating expenses:

    • Area: Building square footage from property records
    • Lease Rate: Annual $/sqft based on market data for the property type and geographic location
    • Vacancy Rate: Percentage of unoccupied space based on market data for the property type and location
    • Operating Expense Ratio: Operating costs as a percentage of income, varies by property type

    Property Value is derived from:

    • Recent sale price (if available)
    • Statistical models using comparable sales
    • AI-powered valuation estimates

    Example Calculation

    For a 100,000 sqft Office Building:

    • Lease Rate: $25.00/sqft/year (market data for Office in this area)
    • Vacancy Rate: 8% (market data for Office in this area)
    • Operating Expense Ratio: 35% (typical for Office properties)
    • Property Value: $15,000,000

    Step 1: Calculate NOI

    NOI = 100,000 × $25.00 × (1 - 0.08) × (1 - 0.35)
    NOI = 100,000 × $25.00 × 0.92 × 0.65
    NOI = $1,495,000/year

    Step 2: Calculate Cap Rate

    Cap Rate = ($1,495,000 / $15,000,000) × 100
    Cap Rate = 9.97%

    Property Type Considerations

    Net Operating Income calculations vary by property type due to different operating expense ratios:

    • Office: Higher expenses (30-40%) for HVAC, utilities, maintenance
    • Retail: Moderate expenses (25-35%) for common area maintenance
    • Industrial/Warehouse: Lower expenses (15-25%) for minimal tenant services
    • Multifamily: Moderate expenses (35-45%) including property management
    • Self-Storage: Lower expenses (25-35%) due to minimal maintenance

    Market lease rates and vacancy rates are specific to each property type and geographic location, reflecting local market conditions.

    Disclaimer

    These calculations are estimates for informational purposes only and should not be used as a substitute for professional financial analysis or appraisal.

    • Cap Rate calculations depend on market data that may change over time
    • Actual operating expenses, lease rates, and vacancy rates may differ from market averages
    • Individual property conditions, lease terms, and tenant quality significantly impact actual NOI
    • Property value estimates are approximations and not official appraisals
    • Cap rates vary widely by market, property condition, and investment risk profile

    Professional Guidance Recommended: Before making any investment or financial decisions, consult with licensed appraisers, commercial real estate brokers, and financial advisors who can evaluate your specific property and circumstances.
    By using this feature, you acknowledge that Realmo is not responsible for investment decisions or actions taken based on these estimates.

    Cap approach

    Capitalization Method calculates value based on estimated net operating income (NOI) and applying a market-based capitalization rate (cap rate), we estimate what a typical investor might be willing to pay for it.

    Comparable approach

    Comparable estimate is based on recent sales of similar nearby properties, adjusted for factors like size, condition, and location.

    Relative

    Relative property class coefficient uses factors that account for typical price differences between various asset types (e.g., retail vs. industrial) to provide a more accurate market-aligned estimate.

    Geo

    Comparable Sales Method, enhanced by Geo coefficients — location-based adjustment factors that reflect differences in price levels across neighborhoods, cities, or regions ensuring a more accurate, market-sensitive valuation.

    Stat Estimate

    This method estimates value based on actual market adjusted recent (~5 years) sales of comparable properties around by location and property type.

    • Ranges - area data calculated by industry standard IQR Outlier Removal Method
    • Range-from: 75% of all similar sales ($/sqft) are above this value
    • Range-to: 75% of all similar sales ($/sqft) are below this value
    AI Estimate

    This method estimates value based on AI market estimation of comparable properties around by location and property type.

    • Ranges - area data calculated by industry standard IQR Outlier Removal Method
    • Range-from: 75% of all estimations ($/sqft) are above this value
    • Range-to: 75% of all estimations ($/sqft) are below this value
    Alternative use

    Estimate considers the property’s potential value if used for a different purpose-based on zoning, demand, and market feasibility.

    More about this property
    13331 HWY 98 Destin, FL 32550
    Thanks! Your message was sent.
    Error! Your message wasn't sent.
    Please enter your name
    Please enter email
    Please enter the email in the correct format
    Please enter phone
    Please enter the number in the correct format
    Please enter message
    Thank You

    You are Unsubscribed From Notifications

    We can help!
    Listing Contact
    Paul Salter
    (850) 564-0120
    Learn more
    Google sign-in failed. Please try again or use another login method.
    Sign Up Successful!
    You now have access to more from Realmo!