First-Floor Corner Retail
For Sale
$450,000
12273 Us Highway 98, Miramar Beach, FL 32550
Commercial for Sale, Miramar Beach, FL
Property Size2,700 SF
Price / SF$166.67
Days on Market484
Property Features for 12273 Us Highway 98
General Information
Property type
Commercial Sale
Property subtype
Other
Zoning
Commercial
Directions
Holiday Plaza located at 12273 US-98. The property is on the first level in the Southeast corner of the plaza.
Subdivision
15 - Miramar/Sandestin Resort
Standard status
Active
APN
29-2S-21-42170-000-0106
Taxes and HOA fees
Tax Description
UNIT 106 HOLIDAY PLAZA PH I A COMMERCIAL CONDO OR 1936-153 OR 2108-362 OR 2600-1873 OR 2702-3696 OR 3260-362
Legal Description
UNIT 106 HOLIDAY PLAZA PH I A COMMERCIAL CONDO OR 1936-153 OR 2108-362 OR 2600-1873 OR 2702-3696 OR 3260-362
Listing Agency:
RE/MAX by the Sea · RE/MAX International
(850) 424-3674
Listed By:
Robert E Ward · License #662787
(850) 585-4101
Added: May 16, 2025
Changed: Sep 11
Last Checked: Sep 11 at 5:06PM
MLS# 976482
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 first-floor retail space occupies the southeast corner of Holiday Plaza at 12273 US Highway 98 in Miramar Beach. The property is commercially zoned and is positioned for retail or office use, with a rear service road providing access to an additional entrance and loading area.
Parking is available within the plaza, and the property benefits from a professionally managed HOA. Its location in the Miramar Beach and Destin area places the space along a commercial corridor served by US Highway 98.
Parking is available within the plaza, and the property benefits from a professionally managed HOA. Its location in the Miramar Beach and Destin area places the space along a commercial corridor served by US Highway 98.
Key Highlights
- First‑floor southeast corner space in Holiday Plaza
- Commercial zoning supports retail or office use
- Rear service road provides access to entrance and loading area
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
$34,020
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
7.56%
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%
$680,400
$680.4K
Cap Rate 7%
$486,000
$486.0K
Cap Rate 9%
$378,000
$378.0K
Market Conditions
NOI Build-Up for 2,700 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
$56.7K $21.00/SF
− Vacancy
−$11.3K −$4.20/SF
EGI
$45.4K $16.80/SF
− OpEx
−$11.3K −$4.20/SF
NOI
$34.0K $12.60/SF
Area
Walton County, FL
Vacancy
20.00%
Lease Rate
$21.00 /SF/Yr
Expense Ratio
25.00%
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%
$680,400
Cap Rate 7%
$486,000
Cap Rate 9%
$378,000
Alternative Uses
Best Use
Office B
$486.0K
$425.3K – $567.0K
NOI $34,020 @ 7.0% cap · market cap 7.56%
Second Best
Retail
$444.7K
$389.1K – $518.8K
NOI $31,128 @ 7.0% cap · market cap 6.92%
Theoretical Best
Office A
$679.0K
$594.1K – $792.2K
NOI $47,531 @ 7.0% cap · market cap 10.56%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
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Open Analytics
Current Use
Lease Details
Yes
Paved road access
Location Intelligence
Trade Area within ½ mile
873
Businesses Nearby
Explore this area
Business Placement
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 Office in South region
Questions? Ask Rey
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Frequently Asked Questions
What type of property is this?
Retail space - Commercially zoned retail space with rear service-road access for loading and a separate entrance.
Where is this retail space located?
The property is located at 12273 Us Highway 98 Miramar Beach, FL.
What is the asking price?
The asking price for this property is $450,000.
What are key features of this property?
This property features: First‑floor southeast corner space in Holiday Plaza; Commercial zoning supports retail or office use; Rear service road provides access to entrance and loading area
