Seagrove Beach Townhome Near
For Sale
$389,900
78 N Myrtle Dr UNIT 110, Santa Rosa Beach, FL 32459
Vacation townhome in Seagrove Beach with community amenities.
Property Size1,072 SF
Lot Size0.01 Acres
Days on Market315
Property Features for 78 N Myrtle Dr UNIT 110
General Information
Standard status
Active
Size
1,072 SF
Lot size
0.01 Acres
Property subtype
Residential
Taxes and HOA fees
Annual Taxes
$3,000
Building Details
Building Size
1,072 SF
Year Built
1982
Stories
2
Listed By:
Adrian D Lovell
(850) 699-8060
Source:
Elliman
Added: Nov 27, 2025
Changed: Oct 8
Last Checked: Oct 7 at 2:39PM
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 Adrian D Lovell
Investment Insights
Based on property information with market context.
Located in Cassine Gardens in Seagrove Beach, this vacation townhome offers proximity to the beach. The community provides amenities including two swimming pools, a nature area, two tennis courts, a basketball court, two deeded beach accesses, a lake, a picnic area, and a community walking/fitness trail. It also offers direct access to the Timpoochee (30A bikepath) Trail, as well as miles of hiking and biking trails in the adjacent state forest. The property is within walking distance of shops and restaurants and provides convenient access to the community pool, lake, mailbox, and tennis courts.
Key Highlights
- Short walk to the beach with 2 deeded beach accesses.
- Located in Seagrove Beach with easy walking distance to shops and restaurants.
- Direct access to the Timpoochee (30A Bike Path) Trail and adjacent state forest hiking/biking trails.
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$11,872
Cap Rate
3.04%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$237,440
$237.4K
Cap Rate 7%
$169,600
$169.6K
Cap Rate 9%
$131,911
$131.9K
Market Conditions
NOI Build-Up for 1,072 SF
Gross rent
$25.7K $24.00/SF
− Vacancy
−$4.1K −$3.86/SF
EGI
$21.6K $20.14/SF
− OpEx
−$9.7K −$9.06/SF
NOI
$11.9K $11.07/SF
Area
Walton County, FL
Vacancy
16.10%
Lease Rate
$24.00 /SF/Yr
Expense Ratio
45.00%
Simulate Cap Rate and NOI
Suggested Prices Based on Cap Rates
Cap Rate 5%
$237,440
Cap Rate 7%
$169,600
Cap Rate 9%
$131,911
Alternative Uses
Best Use
Apartment 5plus
$169.6K
$148.4K – $197.9K
NOI $11,872 @ 7.0% cap · market cap 3.04%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$269.6K
$235.9K – $314.5K
NOI $18,871 @ 7.0% cap · market cap 4.84%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
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Open Analytics
Current Use
Location Intelligence
Trade Area within ½ mile
296
Businesses Nearby
Explore this area
Business Placement
Demographics for 32459, FL
20,567
Population
17,700
Households
1.2
Avg Household Size
43
Median Age
48%
College-Educated
96%
High-School Grad
54.5 sq mi
ZIP Area
377
Density / Sq Mi
$101,067
Median Household Income
$53,393
Median Earnings
$2,165
Median Rent
$613,100
Median Home Value
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Cap Rate, Value Estimation, Potential NOI and more
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Market
Vacancy Rate% for Multifamily in South region
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Frequently Asked Questions
What type of property is this?
Short term rental property - Vacation townhome in Seagrove Beach with community amenities.
Where is this short term rental property located?
The property is located at 78 N Myrtle Dr UNIT 110 Santa Rosa Beach, FL.
What is the asking price?
The asking price for this property is $389,900.
What are key features of this property?
This property features: Short walk to the beach with 2 deeded beach accesses.; Located in Seagrove Beach with easy walking distance to shops and restaurants.; Direct access to the Timpoochee (30A Bike Path) Trail and adjacent state forest hiking/biking trails.
