Flex Space Unit in Holiday
12273 Us Highway 98 #STE 119 Miramar Beach, FL 32550
12273 Us Highway 98 #STE 119, Miramar Beach, FL, 32550
$395,000
Pending
For Sale
$395,000
Pending
Versatile unit with updated restroom and break room, plus covered loading and added lockable storage.
Property Size1,500 SF
Days on Market49
Property Features for 12273 Us Highway 98 #STE 119
General Information
- Standard status
- Pending
- Size
- 1,500 SF
- Property subtype
- Commercial
Listing Agency
LPT REALTY LLC
(877) 366-2213
Listed by
ALEXANDER D LAMBERSON
Source
Corcoran
Added: Jun 2 Checked: Jul 19 at 4:04 am
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 LPT REALTY LLC
Investment Insights
Based on property information with market context.
Unit 119 at Holiday Plaza is available for purchase and offers approximately 1,500 square feet of versatile commercial space. The unit is currently owner-occupied by a luxury vacation rental management company and is expected to be available for occupancy in September 2026. Inside, the space is set up for office, storage, and laundry operations, and includes durable tile flooring throughout, a remodeled break room, and an updated restroom.
The property includes a covered rear loading area for convenient delivery and day-to-day access, along with a lockable covered storage shed that provides additional storage. Existing utility infrastructure may also appeal to tenants considering a future laundry operation, though all washers and dryers are excluded from the sale. Holiday Plaza is a well-established, heavily used shopping center with a mix of restaurants, dental offices, salons, professional services, and retail businesses, supported by abundant parking and convenient ingress and egress directly from Emerald Coast Parkway (US Highway 98).
This unit is positioned as a flexible fit for a buyer seeking an adaptable space that can support office, storage, service, retail, warehouse, or light commercial uses, with practical back-of-house improvements already in place. Covered loading access and on-site storage further support daily operations and deliveries.
The property includes a covered rear loading area for convenient delivery and day-to-day access, along with a lockable covered storage shed that provides additional storage. Existing utility infrastructure may also appeal to tenants considering a future laundry operation, though all washers and dryers are excluded from the sale. Holiday Plaza is a well-established, heavily used shopping center with a mix of restaurants, dental offices, salons, professional services, and retail businesses, supported by abundant parking and convenient ingress and egress directly from Emerald Coast Parkway (US Highway 98).
This unit is positioned as a flexible fit for a buyer seeking an adaptable space that can support office, storage, service, retail, warehouse, or light commercial uses, with practical back-of-house improvements already in place. Covered loading access and on-site storage further support daily operations and deliveries.
Key Highlights
- Unit 119 at Holiday Plaza offers approximately 1,500 SF of versatile commercial space
- Available for occupancy in September 2026; currently owner‑occupied by a luxury vacation rental management company
- Features durable tile flooring, a remodeled break room, and an updated restroom
Local Financial Insights For Office B
Simulate Cap Rate and NOI
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.
| Component | $ | $/SF |
|---|---|---|
| Gross rent | $31.5k | $21.00 |
| − Vacancy | −$6.3k | −$4.20 |
| EGI | $25.2k | $16.80 |
| − OpEx | −$6.3k | −$4.20 |
| NOI | $18.9k | $12.60 |
1,500 SF · lease $21.00/SF/yr · vacancy 20.00% · expense 25.00%
Alternative Uses
Best Use
Office B
$270.0K
$236.3K – $315.0K
NOI $18,900 @ 7.0% cap · market cap 4.78%
Second Best
Flex RnD
$199.9K
$174.9K – $233.2K
NOI $13,993 @ 7.0% cap · market cap 3.54%
Theoretical Best
Office A
$377.2K
$330.1K – $440.1K
NOI $26,406 @ 7.0% cap · market cap 6.69%
Zoning and permitted uses should be independently verified with local authorities.
Property Analytics
Property Profile
Location Intelligence
Current Use by Public Records
Flex space
Similar For Sale Nearby
Similar Off Market Nearby
- Chef Shane's Catering & Private Chef Service — 12590 US Highway 98 West, 12590 Emerald Coast Pkwy, Miramar Beach, FL 32550
- Coastal Catering — 101 Business Centre Dr Suite B, Miramar Beach, FL 32550
FAQs
What type of property is this?
Flex space - Versatile unit with updated restroom and break room, plus covered loading and added lockable storage.
Where is this flex space located?
The property is located at 12273 Us Highway 98 #STE 119 Miramar Beach, FL.
What is the asking price?
The asking price for this property is $395,000.
What are key features of this property?
This property features: Unit 119 at Holiday Plaza offers approximately 1,500 SF of versatile commercial space; Available for occupancy in September 2026; currently owner‑occupied by a luxury vacation rental management company; Features durable tile flooring, a remodeled break room, and an updated restroom
