11-Unit Retail Shopping
For Sale
$7,900,000
11275 Emerald Coast Parkway, Miramar Beach, FL 32550
Commercial for Sale, Miramar Beach, FL
Property Size28,000 SF
Lot Size2.30 Acres
Price / SF$282.14
Days on Market472
Property Features for 11275 Emerald Coast Parkway
General Information
Property type
Commercial Sale
Property subtype
Other
Directions
Located at the intersection of Emerald Coast Pkwy and South Geronimo Street in Miramar Beach
Subdivision
15 - Miramar/Sandestin Resort
Standard status
Active
APN
28-2S-21-42000-003-0030
Lot size
2.30 Acres
Taxes and HOA fees
Tax Description
Parcel id# 28-2S-21-42000-003-0030
Legal Description
Parcel id# 28-2S-21-42000-003-0030
Listing Agency:
NBI Properties Inc
(850) 243-0007
Listed By:
Craig S Barrett · License #3294646
(850) 217-0303
Added: May 28, 2025
Changed: Sep 11
Last Checked: Sep 11 at 7:06PM
MLS# 977384
Copyright © 2026 Emerald Coast Association of Realtors. All rights reserved. All information provided by the listing agent/broker is deemed reliable but is not guaranteed and should be independently verified.
Investment Insights
Based on property information with market context.
This 28,000-square-foot shopping center contains 11 retail units within a fully leased commercial complex. The property occupies approximately 2.3 acres and is configured for multi-tenant retail use.
The center is positioned at the intersection of Emerald Coast Parkway and South Geronimo Street in Miramar Beach, Florida. Its address places the property along Emerald Coast Parkway in the 32550 postal area, providing a defined retail setting within Walton County.
The center is positioned at the intersection of Emerald Coast Parkway and South Geronimo Street in Miramar Beach, Florida. Its address places the property along Emerald Coast Parkway in the 32550 postal area, providing a defined retail setting within Walton County.
Key Highlights
- 28,000 SF retail center
- 11‑unit multi‑tenant complex
- Fully leased retail property
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
$322,812
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
4.09%
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%
$6,456,240
$6.5M
Cap Rate 7%
$4,611,600
$4.6M
Cap Rate 9%
$3,586,800
$3.6M
Market Conditions
NOI Build-Up for 28,000 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
$504.0K $18.00/SF
− Vacancy
−$42.8K −$1.53/SF
EGI
$461.2K $16.47/SF
− OpEx
−$138.3K −$4.94/SF
NOI
$322.8K $11.53/SF
Area
Walton County, FL
Vacancy
8.50%
Lease Rate
$18.00 /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%
$6,456,240
Cap Rate 7%
$4,611,600
Cap Rate 9%
$3,586,800
Alternative Uses
Best Use
Retail
$4.61M
$4.04M – $5.38M
NOI $322,812 @ 7.0% cap · market cap 4.09%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$7.04M
$6.16M – $8.22M
NOI $492,912 @ 7.0% cap · market cap 6.24%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
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Open Analytics
Current Use
Lease Details
100%
Occupancy
Multi-tenant
Tenancy
Location Intelligence
Trade Area within ½ mile
687
Businesses Nearby
20k
Monthly Visits Nearby
Well-served
Demand for This Use
Explore this area
Business Placement
Foot Traffic Nearby
Dining 41%
Electronics 21%
Home Improvements & Furnishings 20%
Shops & Services 12%
Ace Hardware Of South Walton
Home Improvements & Furnishings
3,684 visits/mo
0.2 miles
The Melting Pot
Dining
3,536 visits/mo
0.1 miles
T-Mobile
Electronics
3,255 visits/mo
0.5 miles
Dunkin' Donuts
Dining
3,076 visits/mo
0.5 miles
The UPS Store
Shops & Services
2,359 visits/mo
0.1 miles
Demographics for 32550, FL
7,828
Population
14,909
Households
0.5
Avg Household Size
58
Median Age
55%
College-Educated
98%
High-School Grad
7.0 sq mi
ZIP Area
1,118
Density / Sq Mi
$96,269
Median Household Income
$60,634
Median Earnings
$2,108
Median Rent
$679,800
Median Home Value
Check the figures for this property
Cap Rate, Value Estimation, Potential NOI and more
View Realmo Analytics
Market
Vacancy Rate% for Retail in South region
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Frequently Asked Questions
What type of property is this?
Shopping center - Fully leased retail complex occupying a prominent corner in Miramar Beach.
Where is this shopping center located?
The property is located at 11275 Emerald Coast Parkway Miramar Beach, FL.
What is the asking price?
The asking price for this property is $7,900,000.
What are key features of this property?
This property features: 28,000 SF retail center; 11‑unit multi‑tenant complex; Fully leased retail property
