Prime Retail, Showroom, and
12244 US Hwy 98 W, Miramar Beach, FL
Call to check price and availability
Rare assemblage of retail, showroom, and warehouse space for sale.
Type:RETAIL
Property size:
38,175 SFLot size:
1.18 AcresPrice / SF:
$208/SF- Added:
- Jun 15, 2025
- Days on Market:
- 338
- Last Refresh:
- Apr 5 at 9:01 pm
Property Features for 12244 US Hwy 98 W
General Information
- Standard status
- Active
- Size
- 38,175 SF
- Lot size
- 1.18 Acres
- Property subtype
- RETAIL
Listing agent John Paul Somers License #3210089 (850) 654-7777
Listing office Somers & Company (850) 654-7777
Listing date Jun 15, 2025
Source Moodyscre
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 Somers & Company
HighLights
- Irreplaceable location on Highway 98 with high traffic count and easy access.
- Prime retail, showroom, and warehouse assemblage totaling approximately 38,175 SF across two parcels.
- Significant capital investment in renovations, including new escalators.
- Two‑story retail/showroom building (approx. 26,893 SF) with exceptional finishes and a private executive office accessible by a secured staircase.
- Warehouse building (approx. 11,282 SF) with loading dock and massive rack system.
- Located near Silver Sands Outlet Mall and other mixed‑use districts.
Overview
This property features a combination of retail, showroom, and warehouse spaces. Situated in Miramar Beach, Florida, the location fronts Highway 98, with approximately 50,000 vehicles passing by daily. The property benefits from ingress and egress facilitated by a traffic light at North Geronimo Street and Highway 98. Significant capital has been invested in renovating both buildings, including new escalators for the main showroom's second floor. Parcel 1 includes a two-story building on approximately 1.18 acres, featuring retail, showroom space, and private offices, totaling approximately 26,893 square feet of conditioned space. A third floor houses an executive office accessible via a private staircase. Parcel 2 contains a warehouse, office, and showroom constructed in 2004, situated on approximately 2 acres. This building measures approximately 11,282 square feet across two floors and includes a loading dock area and rack system with a lift and guide rails. The property is positioned near the Silver Sands Outlet Mall and local mixed-use districts, drawing population from surrounding sub-markets, including Destin and Scenic 30A of Santa Rosa Beach, Florida. The current business is operating at record-breaking levels, year over year.
Financial Insights
Value Estimation Calculated for Retail
Conservative
$4.89M
NOI $440,120 @ 9.00% cap · cautious / downside scenario
Moderate
$6.29M
NOI $440,120 @ 7.00% cap · market / base-case scenario
Aggressive
$8.80M
NOI $440,120 @ 5.00% cap · optimistic / upside scenario
NOI & Cap Rate Calculator
NOI Build-Up
- 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.
Calculated for Retail
| Component | $ | $/SF |
|---|---|---|
| Gross rent | $687.2k | $18.00 |
| − Vacancy | −$58.4k | −$1.53 |
| EGI | $628.7k | $16.47 |
| − OpEx | −$188.6k | −$4.94 |
| NOI | $440.1k | $11.53 |
38,175 SF · lease $18.00/SF/yr · vacancy 8.50% · expense 30.00%
Alternative Use Scenarios
Best Use
Retail
$6.29M
$5.50M – $7.34M
NOI $440,120 @ 7.0% cap · market cap 5.54%
Second Best
Warehouse
$4.69M
$4.10M – $5.47M
NOI $328,267 @ 7.0% cap · market cap 4.13%
Theoretical Best
Office A
$9.60M
$8.40M – $11.20M
NOI $672,033 @ 7.0% cap · market cap 8.45%
Zoning and permitted uses should be independently verified with local authorities.
Property Profile
Insight Report
Location Intelligence
Current Use by Public Records
Showrooms
Similar Places Nearby
- The Henry Haus — 12889 Emerald Coast Pkwy Ste 108b, Miramar Beach, FL 32550
- ProFloors Installation — 3755 scenic hwy 98 #702, destin, fl 32541
- Carrot Top Designs — 12870 US-98, Miramar Beach, FL 32550
- Destin Flooring America — 12889 Emerald Coast Pkwy #113b, Miramar Beach, FL 32550
- Dalton Wholesale — 12555 US-98 Unit D, Miramar Beach, FL 32550
Location Insight
- Map
- Local Demand
- City
- Miramar Beach
- County
- Walton
- State
- Florida
- Longitude
- -86.3761
- Latitude
- 30.3857
Nearby Similar for Sale
FAQs
What type of property is this?
Showroom - Rare assemblage of retail, showroom, and warehouse space for sale.
Where is this showroom located?
The property is located at 12244 US Hwy 98 W Miramar Beach, FL.
What is the asking price?
The asking price for this property is $7,950,000.
What are key features of this property?
This property features: Irreplaceable location on Highway 98 with high traffic count and easy access.; Prime retail, showroom, and warehouse assemblage totaling approximately 38,175 SF across two parcels.; Significant capital investment in renovations, including new escalators.
