Storefront Retail Space with Dedicated Turn
For Sale
Contact for pricing
12889 US Hwy 98 W, Miramar Beach, FL 32550
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 Market1195
Property Features for 12889 US Hwy 98 W
General Information
Standard status
Active
Size
10,000 SF
Property subtype
RETAIL
Additional Details
Road Access
Yes
Listing Agency:
Graham & Co Inc | Orlando
(205) 871-7100
Listed By:
Jason Carnes
(850) 563-1502
Source:
Moodyscre
Added: Jun 12, 2023
Changed: Sep 11
Last Checked: Sep 18 at 11:27AM
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
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 = 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
$115,290
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
6.44%
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%
$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
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
$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 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%
$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.
Property Analytics
Unlock full access to Insights
Subscribe to Realmo Intelligence
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
Vacancy Rate% for Retail in South region
Questions? Ask Rey
Realmo’s AI knows this listing — price, zoning, demand, history. Ask anything.
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
