Miramar Beach Retail
For Sale
Contact for pricing
Pending
12889 Hwy 98 W, Miramar Beach, FL 32550
7,254 SF retail condominium in Miramar Plaza for sale.
Property Size7,254 SF
Days on Market161
Property Features for 12889 Hwy 98 W
General Information
Standard status
Pending
Size
7,254 SF
Class
A
Property subtype
Retail
Zoning
Commercial
Investment Type
Owner/User
Building Details
Year Built
2000
Stories
1
Units
1
Tenancy
Single
Listing Agency:
CENTURY 21 AllPoints Realty
(850) 685-2925
Listed By:
Jim Ball · License #FL
Source:
Crexi
Added: Mar 9
Changed: Aug 15
Last Checked: Aug 16 at 12:10AM
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 CENTURY 21 AllPoints Realty
Investment Insights
Based on property information with market context.
Located in the heart of the Emerald Coast retail corridor, Unit 108B at Miramar Plaza is a 7,254 SF retail condominium. The unit has operated as a home décor retail showroom since the center’s opening, establishing the property as a destination retail location within the center. The existing business is relocating, creating an attractive opportunity for an owner-user or investor seeking retail space in a stabilized shopping environment. Miramar Plaza is a fully occupied neighborhood retail center with strong tenant synergy and excellent consumer traffic. The property benefits from its location along Emerald Coast Parkway (US-98), which serves as the primary commercial artery connecting Destin, Miramar Beach, and the Scenic 30A resort communities. The space features large open showroom areas, strong storefront visibility, and ample shared parking, making it well suited for furniture, décor, boutique retail, fitness, showroom, or specialty commercial uses. It is located at 12889 Hwy 98 W, Miramar Beach, FL 32550.
Key Highlights
- Prime US‑98 location with high visibility and accessibility.
- 7,254 SF retail condominium for owner‑user or investment.
- Located in a fully occupied retail center with strong tenant synergy.
Financial Insights
Estimated NOI and Cap Rate
NOI = area × lease_rate × (100 − vacancy) / 100 × (1 − expense_ratio). Net Operating Income — what the owner takes home each year before mortgage payments and income tax. Effective rent (asking rent minus vacancy losses) minus operating costs (taxes, insurance, maintenance, management).
NOI / Yr
$83,631
Cap rate = NOI / list price × 100. Capitalization rate — annual return on a fully cash purchase, before financing. NOI divided by price. Higher means more income per dollar invested, but usually also more risk or older condition. 5–8% is typical for stabilized commercial property; double digits often signal distressed deals.
Cap Rate
5.40%
Suggested Prices Based on Cap Rates
Cap rates vary significantly by property type, market, and asset quality.
Typical U.S. stable-market ranges:
Multifamily — 4.5% to 6.5% (Class A in primary markets often sub-5%; Class C in secondary markets 6%+)
Industrial / Logistics — 5.0% to 7.0% (compressed heavily in recent years due to e-commerce demand)
Office — 6.5% to 9%+ (wide spread post-2020; CBD Class A vs. suburban Class B varies dramatically)
Retail — 5.5% to 8.5% (grocery-anchored on the low end, unanchored strip centers higher)
Hospitality / Hotels — 7.5% to 10%+ (higher due to operational risk)
Self-Storage — 5.5% to 7.5%
Medical Office — 6.0% to 7.5%
Net Lease (single tenant, credit) — 5.0% to 7.0% depending on tenant credit and lease term
Rules of thumb:
Primary markets (NYC, SF, LA, Boston, DC) trade at lower cap rates than secondary/tertiary markets, often by 100–200 bps (bps, aka basis points; 1 bp = 0.01%).
Class A assets trade ~50–150 bps tighter than Class B, and Class B tighter than Class C.
Cap rates move inversely with price — a lower cap rate means a higher price for the same NOI.
Spread to the 10-year Treasury is a common benchmark; historically 200–400 bps over the 10-year.
Cap Rate 5%
$1,672,620
$1.7M
Cap Rate 7%
$1,194,729
$1.2M
Cap Rate 9%
$929,233
$929.2K
Market Conditions
NOI Build-Up for 7,254 SF
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.
Gross rent
$130.6K $18.00/SF
− Vacancy
−$11.1K −$1.53/SF
EGI
$119.5K $16.47/SF
− OpEx
−$35.8K −$4.94/SF
NOI
$83.6K $11.53/SF
Area
Walton County, FL
Vacancy
8.50%
Lease Rate
$18.00 /SF/Yr
Expense Ratio
30.00%
Simulate Cap Rate and NOI
Suggested Prices Based on Cap Rates
Cap rates vary significantly by property type, market, and asset quality.
Typical U.S. stable-market ranges:
Multifamily — 4.5% to 6.5% (Class A in primary markets often sub-5%; Class C in secondary markets 6%+)
Industrial / Logistics — 5.0% to 7.0% (compressed heavily in recent years due to e-commerce demand)
Office — 6.5% to 9%+ (wide spread post-2020; CBD Class A vs. suburban Class B varies dramatically)
Retail — 5.5% to 8.5% (grocery-anchored on the low end, unanchored strip centers higher)
Hospitality / Hotels — 7.5% to 10%+ (higher due to operational risk)
Self-Storage — 5.5% to 7.5%
Medical Office — 6.0% to 7.5%
Net Lease (single tenant, credit) — 5.0% to 7.0% depending on tenant credit and lease term
Rules of thumb:
Primary markets (NYC, SF, LA, Boston, DC) trade at lower cap rates than secondary/tertiary markets, often by 100–200 bps (bps, aka basis points; 1 bp = 0.01%).
Class A assets trade ~50–150 bps tighter than Class B, and Class B tighter than Class C.
Cap rates move inversely with price — a lower cap rate means a higher price for the same NOI.
Spread to the 10-year Treasury is a common benchmark; historically 200–400 bps over the 10-year.
Cap Rate 5%
$1,672,620
Cap Rate 7%
$1,194,729
Cap Rate 9%
$929,233
Alternative Uses
Best Use
Retail
$1.19M
$1.05M – $1.39M
NOI $83,631 @ 7.0% cap · market cap 5.40%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$1.82M
$1.60M – $2.13M
NOI $127,699 @ 7.0% cap · market cap 8.24%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Location Intelligence
Trade Area within ½ mile
841
Businesses Nearby
37k
Monthly Visits Nearby
Well-served
Demand for This Use
Explore this area
Business Placement
Foot Traffic Nearby
Dining 76%
Shops & Services 21%
Hotels & Casinos 2%
Home Improvements & Furnishings 1%
McDonald's
Dining
15,370 visits/mo
0.2 miles
Culver's
Dining
12,320 visits/mo
0.4 miles
Dollar General
Shops & Services
6,680 visits/mo
0.4 miles
Pizza Hut
Dining
844 visits/mo
0.4 miles
Cadence Bank
Shops & Services
647 visits/mo
0.3 miles
Demographics for 32550, FL
7,828
Population
14,909
Households
0.5
Avg Household Size
58
Median Age
55%
College-Educated
98%
High-School Grad
7.0 sq mi
ZIP Area
1,118
Density / Sq Mi
$96,269
Median Household Income
$60,634
Median Earnings
$2,108
Median Rent
$679,800
Median Home Value
Market
Vacancy Rate% for Retail in South region
Questions? Ask Rey
Realmo’s AI knows this listing — price, zoning, demand, history. Ask anything.
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Frequently Asked Questions
What type of property is this?
Showroom - 7,254 SF retail condominium in Miramar Plaza for sale.
Where is this showroom located?
The property is located at 12889 Hwy 98 W Miramar Beach, FL.
What is the asking price?
The asking price for this property is $1,549,500.
What are key features of this property?
This property features: Prime US‑98 location with high visibility and accessibility.; 7,254 SF retail condominium for owner‑user or investment.; Located in a fully occupied retail center with strong tenant synergy.
