Turn-Key Condominium Investment
For Sale
$18,500,000
Pending
179 S County Hwy 393 #Building No. ONE, Santa Rosa Beach, FL 32459
Newly constructed, fully furnished 30-unit condominium building in Santa Rosa Beach, Florida.
Property Size32,450 SF
Lot Size29.00 Acres
Days on Market715
Property Features for 179 S County Hwy 393 #Building No. ONE
General Information
Standard status
Pending
Size
32,450 SF
Lot size
29.00 Acres
Property subtype
Commercial
Building Details
Year Built
2022
Listing Agency:
COUNTS REAL ESTATE GROUP INC
(850) 249-3615
Listed By:
CHRIS S MCCALL · License #0666647
Source:
Corcoran
Added: Aug 20, 2024
Changed: Jul 10
Last Checked: Jul 23 at 9:11AM
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, Santa Rosa Beach, Florida, Pinewood 30-A presents a newly constructed 30-unit condominium building. This offering includes Building Number One, a fully-furnished, turn-key, short-term rental property. The unit mix comprises two 4 Bedroom/4 Bath units, fourteen 2 Bedroom/2 Bath units, and fourteen 1 Bedroom/1 Bath units. These units feature bright, modern decor, large closets, and a brand new GE upgraded stainless steel appliance package. The development is located south of Highway 98 and features a golf cart road and new bike sidewalk to the beach, backing onto Point Washington State Forest with over 1,400 acres of recreation and trails. Community amenities include a heated pool and a full-service fitness center. A shuttle service to the beach is also available. The community also has top-of-the-line maid services. The gated Pinewood project spans 29 acres of pine trees. The property is located close to San Destin resorts with golf and tennis, world-class fishing, shopping and restaurants along 30-A, and sugar sand, emerald water beaches. The developer has plans for a fine-dining restaurant, general store, and a coffee shop in the adjacent building. With furnished underserved long term rental opportunities, this investment offers flexible income streams for owners between short and long term rentals. The property is located in a pristine pine forest, providing natural beauty while still within 1.3 miles to beautiful beaches.
Key Highlights
- Turn‑key, fully furnished 30‑unit short‑term rental property in a prime Emerald Coast location.
- Strong income potential with an 8.14% Cap Rate and $1,505,000 Net Operating Income, guaranteed for one year at full price.**
- Hassle‑free rental management with on‑site short‑term rental management company, maid service, and maintenance.
Property Analytics
Current Use
Location Intelligence
Trade Area within ½ mile
50
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
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Frequently Asked Questions
What type of property is this?
Apartment building - Newly constructed, fully furnished 30-unit condominium building in Santa Rosa Beach, Florida.
Where is this apartment building located?
The property is located at 179 S County Hwy 393 #Building No. ONE 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 30‑unit short‑term rental property in a prime Emerald Coast location.; Strong income potential with an 8.14% Cap Rate and $1,505,000 Net Operating Income, guaranteed for one year at full price.**; Hassle‑free rental management with on‑site short‑term rental management company, maid service, and maintenance.
