Turn-Key Condominium Building
For Sale
$18,500,000
Pending
179 S County Hwy 393 #1, Santa Rosa Beach, FL 32459
Newly constructed, fully furnished 30-unit condominium building in Santa Rosa Beach.
Property SizeContact for details
Lot Size29.00 Acres
Days on Market721
Property Features for 179 S County Hwy 393 #1
General Information
Standard status
Pending
Lot size
29.00 Acres
Property subtype
Commercial
Listing Agency:
COUNTS REAL ESTATE GROUP INC
(850) 249-3615
Listed By:
CHRISTOPHER S MCCALL · License #666647
Source:
Corcoran
Added: Aug 21, 2024
Changed: Aug 8
Last Checked: Aug 8 at 1:57PM
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 COUNTS REAL ESTATE GROUP INC
Investment Insights
Based on property information with market context.
Located at 179 South County Highway 393 in Santa Rosa Beach, Florida, Pinewood 30-A is a newly constructed 30-unit condominium building. Building One consists of 30 fully-furnished, turn-key, short-term rental units. The unit mix includes two 4-bedroom/4-bath units, fourteen 2-bedroom/2-bath units, and fourteen 1-bedroom/1-bath units. These units offer rental management services, including maid service and maintenance. The community amenities include a heated pool, a full-service fitness center, and access to 1,400 acres of walking trails in Point Washington State Forest, along with a shuttle service to the beach. The Pinewood 30-A development, consisting of 126 condo units, is located south of Highway 98 and features a golf cart road and a new bike sidewalk to the beach, backing onto Point Washington State Forest. The gated Pinewood project also includes 29 acres of pine trees. The location is near San Destin resorts with golf and tennis, fishing, shopping and restaurants along 30-A, and beaches. The developer has plans for a fine-dining restaurant, general store, and a coffee shop in the adjacent building. The seller's proforma supports a Net Operating Income of $1,505,000. With a full-priced sale, the seller will guarantee the proforma rental income for the initial one year following the closing date.
Key Highlights
- Turn‑key, fully furnished short‑term rental property with on‑site management in a top vacation destination.
- Guaranteed proforma rental income for the first year, supported by an 8.14% cap rate.
- Prime location south of Highway 98, close to beaches, shopping, dining, and San Destin resorts.
Property Analytics
Property Profile
Current Use
Location Intelligence
Trade Area within ½ mile
325
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
Market
Vacancy Rate% for Multifamily in South region
Questions? Ask Rey
Realmo’s AI knows this listing — price, zoning, demand, history. Ask anything.
Frequently Asked Questions
What type of property is this?
Apartment building - Newly constructed, fully furnished 30-unit condominium building in Santa Rosa Beach.
Where is this apartment building located?
The property is located at 179 S County Hwy 393 #1 Santa Rosa Beach, FL.
What is the asking price?
The asking price for this property is $18,500,000.
What are key features of this property?
This property features: Turn‑key, fully furnished short‑term rental property with on‑site management in a top vacation destination.; Guaranteed proforma rental income for the first year, supported by an 8.14% cap rate.; Prime location south of Highway 98, close to beaches, shopping, dining, and San Destin resorts.
