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    1598 S County Hwy 393 Santa Rosa Beach, FL 32459

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    For Sale
    $4,890,000

    Multi-tenant retail/office property in high-demand South Walton/30A market.

    Type:Shopping Strip
    Property size:
    7,962 SF
    Lot size:
    0.91 Acres
    Price / SF:
    $614/SF
    Added:
    Apr 3, 2026
    Days on Market:
    22
    Last Refresh:
    Apr 3 at 5:01 am

    Property Features for 1598 S County Hwy 393

    General Information

    Standard status
    Active
    Size
    7,962 SF
    Lot size
    0.91 Acres
    Property subtype
    Shopping Strip

    Building Details

    Year Built
    2004

    We can help!

    Listing Contact
    Salim Valiani
    Salim Valiani

    Listing agent Salim Valiani License #FL: SL3105421

    Listing office Orlando Office

    Listing date Apr 3, 2026

    Source Marcusmillichap

    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 Orlando Office

    Overview

    Fully Leased Santa Rosa Beach Retail

    The property at 1598 S County Highway 393, known as Sunset Promenade, is a fully leased, multi-tenant retail and office building in Santa Rosa Beach, Florida, situated within the South Walton / 30A market. Constructed in 2004, the single-story building has approximately 7,962 square feet of gross leasable area and is positioned on a 0.91-acre lot. It benefits from frontage and visibility along South County Highway 393, a commercial corridor that serves local residents and tourists. Located south of Scenic Highway 30A and minutes from the Gulf of Mexico, its location near beach access points, vacation rentals, residential communities, and retail corridors contributes to consistent consumer traffic. The property is 100% occupied with a mix of Double Net (NN) and Triple Net (NNN) lease structures. The tenant mix reflects the demand in the Santa Rosa Beach market, supported by demographics, tourism, and residential growth.
    Location Intelligence

    Current Use by Public Records

    Ocean Nails Nail Salon Zen Releaf Alternative Medicine Practice South Of Philly 30A Take-out & Catering Grayt-A Construction LLC Construction Company Perry D. Hight, ... Doctor

    Suggested Use

    Law Firm Restaurant Spa & Massage Center Real Estate Agency Hair Salon Nail Salon Building Supply Gym & Fitness Center Pharmacy Skin Care Clinic

    Zoning and permitted uses should be independently verified with local authorities.

    Location Insight

    • Map
    • Local Demand
    City
    Santa Rosa Beach
    County
    Walton
    State
    Florida
    Longitude
    -86.228449
    Latitude
    30.396596

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    FAQs

    What type of property is this?
    Strip mall - Multi-tenant retail/office property in high-demand South Walton/30A market.
    Where is this strip mall located?
    The property is located at 1598 S County Hwy 393 Santa Rosa Beach, FL.
    What is the asking price?
    The asking price for this property is $4,890,000.
    What are key features of this property?
    This property features: Located in the highly sought‑after South Walton / 30A market, near Scenic Highway 30A and the Gulf of Mexico's white‑sand beaches.; Fully leased, multi‑tenant retail/office property providing stable, predictable cash flow.; 100% occupied with a diverse tenant mix reflecting strong demand in the Santa Rosa Beach market.
    (407) 557-3822
    We can help!
    Listing Contact
    Salim Valiani
    Salim Valiani
    Real Estate License ID: FL: SL3105421
    Learn More
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    Realmo Value Estimations

    Realmo estimates a property’s market value using a proprietary methodology that incorporates public data and user-submitted information. This cumulative value is generated by integrating a variety of conventional and innovative methods. 

    Disclaimer

    These figures are not official appraisals and should not be used as a substitute for a valuation performed by a licensed appraiser.
    Actual market value may differ due to factors not captured in the data. Estimates are offered for informational purposes only, and users should conduct independent research before making financial or investment decisions.
    By using this feature, you acknowledge that Realmo is not responsible for actions taken based on these estimates.

    AI approach

    Realmo AI Method estimates property value using machine learning models trained on millions of comparable listings, transactions, and market signals. It analyzes property features, location intelligence data, and current market dynamics to predict the most probable market value in real time.

    Realmo CapRate Calculation

    Realmo calculates the Capitalization Rate (Cap Rate) to help estimate a property's potential return on investment. The Cap Rate is a fundamental metric in commercial real estate that measures the relationship between a property's net operating income and its market value.

    How We Calculate Cap Rate

    Cap Rate Formula:
    Cap Rate (%) = (Net Operating Income / Property Value) × 100

    Net Operating Income (NOI) Formula:
    NOI = Area × Lease Rate × (1 - Vacancy Rate) × (1 - Operating Expense Ratio)

    Components

    Net Operating Income (NOI) represents the annual income a property generates after operating expenses:

    • Area: Building square footage from property records
    • Lease Rate: Annual $/sqft based on market data for the property type and geographic location
    • Vacancy Rate: Percentage of unoccupied space based on market data for the property type and location
    • Operating Expense Ratio: Operating costs as a percentage of income, varies by property type

    Property Value is derived from:

    • Recent sale price (if available)
    • Statistical models using comparable sales
    • AI-powered valuation estimates

    Example Calculation

    For a 100,000 sqft Office Building:

    • Lease Rate: $25.00/sqft/year (market data for Office in this area)
    • Vacancy Rate: 8% (market data for Office in this area)
    • Operating Expense Ratio: 35% (typical for Office properties)
    • Property Value: $15,000,000

    Step 1: Calculate NOI

    NOI = 100,000 × $25.00 × (1 - 0.08) × (1 - 0.35)
    NOI = 100,000 × $25.00 × 0.92 × 0.65
    NOI = $1,495,000/year

    Step 2: Calculate Cap Rate

    Cap Rate = ($1,495,000 / $15,000,000) × 100
    Cap Rate = 9.97%

    Property Type Considerations

    Net Operating Income calculations vary by property type due to different operating expense ratios:

    • Office: Higher expenses (30-40%) for HVAC, utilities, maintenance
    • Retail: Moderate expenses (25-35%) for common area maintenance
    • Industrial/Warehouse: Lower expenses (15-25%) for minimal tenant services
    • Multifamily: Moderate expenses (35-45%) including property management
    • Self-Storage: Lower expenses (25-35%) due to minimal maintenance

    Market lease rates and vacancy rates are specific to each property type and geographic location, reflecting local market conditions.

    Disclaimer

    These calculations are estimates for informational purposes only and should not be used as a substitute for professional financial analysis or appraisal.

    • Cap Rate calculations depend on market data that may change over time
    • Actual operating expenses, lease rates, and vacancy rates may differ from market averages
    • Individual property conditions, lease terms, and tenant quality significantly impact actual NOI
    • Property value estimates are approximations and not official appraisals
    • Cap rates vary widely by market, property condition, and investment risk profile

    Professional Guidance Recommended: Before making any investment or financial decisions, consult with licensed appraisers, commercial real estate brokers, and financial advisors who can evaluate your specific property and circumstances.
    By using this feature, you acknowledge that Realmo is not responsible for investment decisions or actions taken based on these estimates.

    Cap approach

    Capitalization Method calculates value based on estimated net operating income (NOI) and applying a market-based capitalization rate (cap rate), we estimate what a typical investor might be willing to pay for it.

    Comparable approach

    Comparable estimate is based on recent sales of similar nearby properties, adjusted for factors like size, condition, and location.

    Relative

    Relative property class coefficient uses factors that account for typical price differences between various asset types (e.g., retail vs. industrial) to provide a more accurate market-aligned estimate.

    Geo

    Comparable Sales Method, enhanced by Geo coefficients — location-based adjustment factors that reflect differences in price levels across neighborhoods, cities, or regions ensuring a more accurate, market-sensitive valuation.

    Stat Estimate

    This method estimates value based on actual market adjusted recent (~5 years) sales of comparable properties around by location and property type.

    • Ranges - area data calculated by industry standard IQR Outlier Removal Method
    • Range-from: 75% of all similar sales ($/sqft) are above this value
    • Range-to: 75% of all similar sales ($/sqft) are below this value
    AI Estimate

    This method estimates value based on AI market estimation of comparable properties around by location and property type.

    • Ranges - area data calculated by industry standard IQR Outlier Removal Method
    • Range-from: 75% of all estimations ($/sqft) are above this value
    • Range-to: 75% of all estimations ($/sqft) are below this value
    Alternative use

    Estimate considers the property’s potential value if used for a different purpose-based on zoning, demand, and market feasibility.

    More about this property
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