First-Floor Office
For Sale
Contact for pricing
12273 US Highway 98 W, Miramar Beach, FL 32550
Corner suite within a professionally managed commercial plaza with rear loading access and on-site parking.
Property Size1,850 SF
Price / SF$243.24
Days on Market462
Property Features for 12273 US Highway 98 W
General Information
Standard status
Active
Size
1,850 SF
Property subtype
OFFICE
Additional Details
Floor
1
HOA Fee
$1,156
Listing Agency:
RE/MAX by the Sea
(850) 585-4101
Listed By:
Robert Earl Ward · License #662787
(850) 585-4101
Source:
Moodyscre
Added: May 8, 2025
Changed: Aug 12
Last Checked: Aug 12 at 10:41AM
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 RE/MAX by the Sea
Investment Insights
Based on property information with market context.
This 1,850-square-foot office unit occupies the first floor at the southeast corner of Holiday Plaza. The space includes access to a rear service road that supports loading through a rear entrance, along with ample parking within the plaza. Holiday Plaza is professionally managed by its HOA and is located in the Miramar Beach/Destin area along US Highway 98 W.
Key Highlights
- 1,850‑square‑foot first‑floor office unit
- Southeast corner position within Holiday Plaza
- Rear service road provides access for loading
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
$23,310
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
5.18%
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%
$466,200
$466.2K
Cap Rate 7%
$333,000
$333.0K
Cap Rate 9%
$259,000
$259.0K
Market Conditions
NOI Build-Up for 1,850 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
$38.9K $21.00/SF
− Vacancy
−$7.8K −$4.20/SF
EGI
$31.1K $16.80/SF
− OpEx
−$7.8K −$4.20/SF
NOI
$23.3K $12.60/SF
Area
Walton County, FL
Vacancy
20.00%
Lease Rate
$21.00 /SF/Yr
Expense Ratio
25.00%
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%
$466,200
Cap Rate 7%
$333,000
Cap Rate 9%
$259,000
Alternative Uses
Best Use
Office B
$333.0K
$291.4K – $388.5K
NOI $23,310 @ 7.0% cap · market cap 5.18%
Second Best
Retail
$304.7K
$266.6K – $355.5K
NOI $21,329 @ 7.0% cap · market cap 4.74%
Theoretical Best
Office A
$465.2K
$407.1K – $542.8K
NOI $32,567 @ 7.0% cap · market cap 7.24%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Location Intelligence
Trade Area within ½ mile
884
Businesses Nearby
Explore this area
Business Placement
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 Office 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?
Office units - Corner suite within a professionally managed commercial plaza with rear loading access and on-site parking.
Where is this office units located?
The property is located at 12273 US Highway 98 W Miramar Beach, FL.
What is the asking price?
The asking price for this property is $450,000.
What are key features of this property?
This property features: 1,850‑square‑foot first‑floor office unit; Southeast corner position within Holiday Plaza; Rear service road provides access for loading
