Miramar Beach Office Space
12815 U.S Highway 98 West Suites 101-104 Miramar Beach, FL 32550
12815 U.S Highway 98 West Suites 101-104, Miramar Beach, FL, 32550
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For Sale
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Prime office space in a high-traffic Miramar Beach location.
Property Size4,236 SF
Price / SF$351.75
Days on Market522
Property Features for 12815 U.S Highway 98 West Suites 101-104
General Information
- Standard status
- Active
- Size
- 4,236 SF
- Property subtype
- Office, Retail, Special Purpose
Building Details
- Year Built
- 1999
Listing Agency
Scenic | Sotheby's International Realty
Listed by
Chris Abbott · License #FL BK3078996
Source
Crexi
Added: Feb 14, 2025 Updated: Jul 10 at 1:07 pm Checked: Jul 20 at 3:32 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 Scenic | Sotheby's International Realty
Investment Insights
Based on property information with market context.
Located along U.S. Highway 98, with additional access via Ellis Drive and Scenic Highway 98, this office space provides accessibility for clients and employees. The single-level layout eliminates stairs, and ample parking is available, including overflow parking in the rear of the building. The property features a dedicated lobby and front desk area, a breakroom, and restrooms. This office space, with a 20+ year presence in the community, offers stability and growth potential in a commercial corridor of Miramar Beach. It is suitable as an income-generating investment or a move-in-ready space. The listing is comprised of 4 separate office space units (#101, #102, #103 and #104) that are currently combined but can be separated. The current tenant/owner is downsizing to a smaller space and will not be renewing a lease to stay in this location. HOA dues are $550/month per unit, totaling $2,200 per month. The property size is 4,236 square feet.
Key Highlights
- Prime location on U.S. Highway 98 in a desirable commercial corridor of Miramar Beach.
- High‑traffic location with excellent accessibility via multiple access points.
- Move‑in‑ready, single‑level office space featuring a lobby, front desk, breakroom, and restrooms.
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 | $89.0k | $21.00 |
| − Vacancy | −$17.8k | −$4.20 |
| EGI | $71.2k | $16.80 |
| − OpEx | −$17.8k | −$4.20 |
| NOI | $53.4k | $12.60 |
4,236 SF · lease $21.00/SF/yr · vacancy 20.00% · expense 25.00%
Alternative Uses
Best Use
Office B
$762.5K
$667.2K – $889.6K
NOI $53,374 @ 7.0% cap · market cap 3.58%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$1.07M
$932.1K – $1.24M
NOI $74,571 @ 7.0% cap · market cap 5.00%
Zoning and permitted uses should be independently verified with local authorities.
Property Analytics
Property Profile
Location Intelligence
Current Use by Public Records
Office Units
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FAQs
What type of property is this?
Office units - Prime office space in a high-traffic Miramar Beach location.
Where is this office units located?
The property is located at 12815 U.S Highway 98 West Suites 101-104 Miramar Beach, FL.
What is the asking price?
The asking price for this property is $1,490,000.
What are key features of this property?
This property features: Prime location on U.S. Highway 98 in a desirable commercial corridor of Miramar Beach.; High‑traffic location with excellent accessibility via multiple access points.; Move‑in‑ready, single‑level office space featuring a lobby, front desk, breakroom, and restrooms.
