11-Unit Shopping
For Sale
$7,900,000
11275 Us Highway 98 W, Miramar Beach, FL 32550
Fully leased retail complex positioned at the corner of two streets near Silver Sands Outlet Mall.
Property Size28,000 SF
Price / SF$282.14
Days on Market461
Property Features for 11275 Us Highway 98 W
General Information
Standard status
Active
Size
28,000 SF
Occupancy
100%
Additional Details
Corner Location
Yes
Building Details
Tenancy
Multi
Listing Agency:
NBI Properties Inc
(850) 243-0007
Listed By:
Craig S Barrett · License #3294646
(850) 243-0007
Source:
Exprealty
Added: May 28, 2025
Changed: Aug 30
Last Checked: Aug 31 at 5:57PM
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 NBI Properties Inc
Investment Insights
Based on property information with market context.
This 28, 000 SF shopping center contains 11 retail units and is fully leased. The property is configured as a multi-tenant retail complex, offering an established occupancy profile for commercial real estate buyers.
The center occupies the corner of Emerald Coast Pkwy and South Geronimo Street in Miramar Beach, Florida. It is also identified at 11275 Us Highway 98 W and is located near Silver Sands Outlet Mall, placing the property within a retail-oriented coastal Florida setting.
The center occupies the corner of Emerald Coast Pkwy and South Geronimo Street in Miramar Beach, Florida. It is also identified at 11275 Us Highway 98 W and is located near Silver Sands Outlet Mall, placing the property within a retail-oriented coastal Florida setting.
Key Highlights
- 28, 000 SF shopping center
- 11‑unit retail complex
- Fully leased 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
Property Profile
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
Market
Vacancy Rate% for Retail in South region
Questions? Ask Rey
Realmo’s AI knows this listing — price, zoning, demand, history. Ask anything.
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Frequently Asked Questions
What type of property is this?
Shopping center - Fully leased retail complex positioned at the corner of two streets near Silver Sands Outlet Mall.
Where is this shopping center located?
The property is located at 11275 Us Highway 98 W 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 shopping center; 11‑unit retail complex; Fully leased property
