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    2052 Scenic Gulf Dr Miramar Beach, FL 32550

    For Sale
    $5,900,000

    Prime Beachfront Retail Investment, Florida

    Property size:
    3,840 SF

    Description

    Added:
    Dec 11, 2024
    Days on Market:
    369
    This exceptional retail investment opportunity in Miramar Beach, Florida, presents a 3,840 square foot multi-tenant building situated on Scenic Gulf Drive. The property boasts a prime location directly across from the Gulf of Mexico beaches, ensuring high visibility and significant foot traffic from resort beach visitors. Currently operating at 100% occupancy, the property generates $230,700 in annual rental income with a 5.00% cap rate. The building is comprised of three tenants: Paradise Found (1,720 sq ft), Frozen Dunes (860 sq ft on an older lease), and Emerald Coast Cruiser (860 sq ft on a brand new lease). Annual CAM charges are $19,691. The asking price is $5,900,000, and the current leases have a remaining term of two years. The existing owner, Paradise Found, is willing to remain as a tenant or relocate, and is also open to selling their existing inventory to a new buyer. This property offers significant upside potential, with the possibility of adding apartments above the existing commercial space. The property is also available as part of a larger package deal including two additional buildings for a total price of $18,999,999. This is a rare opportunity to acquire a thriving retail property in a highly desirable beachfront location.

    Property Features for 2052 Scenic Gulf Dr

    General Information

    Property type
    Individual retail properties
    Square Feet
    3,840 SF

    HighLights

    • 3,840 SF multi‑tenant retail building in Miramar Beach, FL on Scenic Gulf Drive.
    • Prime beachfront location across from the Gulf of Mexico, offering high visibility and foot traffic.
    • 100% occupancy generating $230,700 annual net operating income (after $19,691 CAM charges) with a 5.00% cap rate.
    • Asking price: $5,900,000.
    • Two‑year remaining lease term; existing tenant, Paradise Found, open to renewal or relocation, and potential inventory sale.
    • Potential for value‑add through apartment development above existing space.
    Property Profile Insight Report Location Intelligence

    Current Use by Public Records

    Retail space

    Suggested Use

    Law Firm Restaurant Spa & Massage Dental Office Hair Salon Nail Salon Clothing Store Gym & Fitness Building Supply Realty agency

    Zoning and permitted uses should be independently verified with local authorities.

    Location Insight

    • Map
    • Local Demand
    City
    Miramar Beach
    County
    Walton
    State
    Florida
    Longitude
    -86.3823576
    Latitude
    30.378162

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    FAQs

    What type of property is this?
    Individual retail property - Prime Beachfront Retail Investment, Florida
    Where is this individual retail property located?
    The property is located at 2052 Scenic Gulf Dr Miramar Beach, FL.
    What is the asking price?
    The asking price for this property is $5,900,000.
    What are key features of this property?
    This property features: 3,840 SF multi-tenant retail building in Miramar Beach, FL on Scenic Gulf Drive.; Prime beachfront location across from the Gulf of Mexico, offering high visibility and foot traffic.; 100% occupancy generating $230,700 annual net operating income (after $19,691 CAM charges) with a 5.00% cap rate.
    Request Owner's contact information
    2052 Scenic Gulf Dr Miramar Beach, FL 32550
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    Miramar Beach, FL 32550
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    Realmo Value Estimation

    Realmo estimates a property’s market value using a proprietary methodology that incorporates public data and user-submitted information. This cumulative value is generated by integrating a variety of conventional and innovative methods. 

    Disclaimer

    These figures are not official appraisals and should not be used as a substitute for a valuation performed by a licensed appraiser.

    Actual market value may differ due to factors not captured in the data. Estimates are offered for informational purposes only, and users should conduct independent research before making financial or investment decisions.

    By using this feature, you acknowledge that Realmo is not responsible for actions taken based on these estimates.

    AI approach

    Realmo AI Method estimates property value using machine learning models trained on millions of comparable listings, transactions, and market signals. It analyzes property features, location intelligence data, and current market dynamics to predict the most probable market value in real time.

    Cap approach

    Capitalization Method calculates value based on estimated net operating income (NOI) and applying a market-based capitalization rate (cap rate), we estimate what a typical investor might be willing to pay for it.

    Comparable approach

    Comparable estimate is based on recent sales of similar nearby properties, adjusted for factors like size, condition, and location.

    Relative

    Relative property class coefficient uses factors that account for typical price differences between various asset types (e.g., retail vs. industrial) to provide a more accurate market-aligned estimate.

    Geo

    Comparable Sales Method, enhanced by Geo coefficients — location-based adjustment factors that reflect differences in price levels across neighborhoods, cities, or regions ensuring a more accurate, market-sensitive valuation.

    Alternative use

    Estimate considers the property’s potential value if used for a different purpose-based on zoning, demand, and market feasibility.

    More about this property
    2052 Scenic Gulf Dr Miramar Beach, FL 32550
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