Subdividable Retail Strip
12889 Emerald Coast Pkwy Miramar Beach, FL 32550
For Sale
Contact for pricing
Retail space with an open layout that can be subdivided, plus a dedicated turn lane and signage opportunities.
Property Size10,000 SF
Price / SF$179
Days on Market365
Property Features for 12889 Emerald Coast Pkwy
General Information
Standard status
Active
Size
10,000 SF
Property subtype
RETAIL
Listing Agency:
Graham & Co - Corporate
(850) 830-6593
Listed By:
Jason Carnes
(850) 830-6593
Source:
Moodyscre
Added: Jul 30, 2025
Changed: Jul 28
Last Checked: Jul 29 at 3:16PM
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 Graham & Co - Corporate
Investment Insights
Based on property information with market context.
This retail strip center offers an open floor plan with the option to subdivide into smaller units. Depending on configuration, the smaller-unit option is noted as 1,800 SF, with a listed price of $749,000 for that setup. The property is also presented as an opportunity to lease or own.
The asset is located at 12889 Emerald Coast Pkwy in Miramar Beach, Florida. A dedicated turn lane supports convenient access, and the offering includes a signage opportunity for tenant visibility.
Overall, the space is designed to flex between a larger open environment and a smaller, subdivided configuration, making it workable for a range of retail operations that benefit from adaptable square footage.
The asset is located at 12889 Emerald Coast Pkwy in Miramar Beach, Florida. A dedicated turn lane supports convenient access, and the offering includes a signage opportunity for tenant visibility.
Overall, the space is designed to flex between a larger open environment and a smaller, subdivided configuration, making it workable for a range of retail operations that benefit from adaptable square footage.
Key Highlights
- Retail space with an open layout that can be subdivided into smaller units
- Subdivision option: 1,800 SF unit listed at $749,000
- Dedicated turn lane
Financial Insights For Retail
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 | $180.0k | $18.00 |
| − Vacancy | −$15.3k | −$1.53 |
| EGI | $164.7k | $16.47 |
| − OpEx | −$49.4k | −$4.94 |
| NOI | $115.3k | $11.53 |
10,000 SF · lease $18.00/SF/yr · vacancy 8.50% · expense 30.00%
Alternative Uses
Best Use
Retail
$1.65M
$1.44M – $1.92M
NOI $115,290 @ 7.0% cap · market cap 6.44%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$2.51M
$2.20M – $2.93M
NOI $176,040 @ 7.0% cap · market cap 9.83%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Location Intelligence
Current Use
Frequently Asked Questions
What type of property is this?
Retail space - Retail space with an open layout that can be subdivided, plus a dedicated turn lane and signage opportunities.
Where is this retail space located?
The property is located at 12889 Emerald Coast Pkwy Miramar Beach, FL.
What is the asking price?
The asking price for this property is $1,790,000.
What are key features of this property?
This property features: Retail space with an open layout that can be subdivided into smaller units; Subdivision option: 1,800 SF unit listed at $749,000; Dedicated turn lane
