Storefront Retail Space with Dedicated Turn
12889 US Hwy 98 W, Miramar Beach, FL 32550
For Sale
Contact for pricing
Open floor plan storefront with strong visibility on US Hwy 98 and a dedicated turn lane for convenient access.
Property Size10,000 SF
Price / SF$179
Days on Market1249
Property Features for 12889 US Hwy 98 W
General Information
Standard status
Size
Property subtype
Additional Details
Road Access
Listing Agency:
Graham & Co Inc | Orlando
(205) 871-7100
Listed By:
Jason Carnes · License FL #3115932
(850) 563-1502
Source:
Moodyscre
Added: Jun 12, 2023
Changed: Oct 26
Last Checked: Nov 10 at 10:12AM
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 Inc | Orlando
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Review the available facts, identify missing information and prepare questions for the agent.
Investment Insights
Based on property information with market context.
This storefront retail space offers an open floor plan designed for flexible tenant buildout. The property is 10,000 square feet and includes a dedicated turn lane to support convenient ingress and egress. A signage opportunity is also available, which can help branding and customer wayfinding.
Located on US Hwy 98 W in Miramar Beach, the site is well positioned between Destin and Sandestin. The property benefits from good visibility along Hwy 98, which can support retail and service-oriented concepts that rely on pass-by traffic.
Whether looking to lease or own, this site’s combination of open layout, highway visibility, and dedicated turning access can be a practical fit for operators seeking a storefront environment.
Located on US Hwy 98 W in Miramar Beach, the site is well positioned between Destin and Sandestin. The property benefits from good visibility along Hwy 98, which can support retail and service-oriented concepts that rely on pass-by traffic.
Whether looking to lease or own, this site’s combination of open layout, highway visibility, and dedicated turning access can be a practical fit for operators seeking a storefront environment.
Key Highlights
- 10,000 square feet storefront retail space
- Good visibility on US Hwy 98 W in Miramar Beach
- Open floor plan for flexible layout and buildout
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$115,290
Cap Rate
6.44%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$2,305,800
$2.3M
Cap Rate 7%
$1,647,000
$1.6M
Cap Rate 9%
$1,281,000
$1.3M
Market Conditions
NOI Build-Up for 10,000 SF
Gross rent
$180.0K $18.00/SF
− Vacancy
−$15.3K −$1.53/SF
EGI
$164.7K $16.47/SF
− OpEx
−$49.4K −$4.94/SF
NOI
$115.3K $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 Rate 5%
$2,305,800
Cap Rate 7%
$1,647,000
Cap Rate 9%
$1,281,000
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.
How Realmo checks its estimates
Property Analytics
Who owns this building?
See the owner, sales and loan history
Open Analytics
Current Use
Lease Details
Yes
Paved road access
Location Intelligence
Trade Area within ½ mile
841
Businesses Nearby
37k
Monthly Visits Nearby
Under-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
Check the figures for this property
Cap Rate, Value Estimation, Potential NOI and more
View Realmo Analytics
Market
Properties on Market for Storefront properties in Walton County
Vacancy Rate% for Retail in South region
Frequently Asked Questions
What type of property is this?
Storefront property - Open floor plan storefront with strong visibility on US Hwy 98 and a dedicated turn lane for convenient access.
Where is this storefront property located?
The property is located at 12889 US Hwy 98 W 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: 10,000 square feet storefront retail space; Good visibility on US Hwy 98 W in Miramar Beach; Open floor plan for flexible layout and buildout
