Add Listing
    Property Lookup
    • For Sale
    • For Lease
    • Recently Sold
    • Property Lookup
    • Brokers
    12805 Us Hwy 98 Vernon, FL 32462
    Back to Search
    Property profile & analytics

    12805 Us Hwy 98 Vernon, FL 32462

    View on Map
    • Retail properties & Spaces
    • 3,000 SF
    Off-Market
    Value Estimations
    Cap Rate Potential
    Location Intelligence

    Current Use by Public Records

    • Retail properties & Spaces

    Property Details for 12805 Us Hwy 98

    Property size
    3,000 SF
    Property type
    Retail properties & Spaces

    Description

    This exceptional 3,000-square-foot retail space is ideally situated at 12805 US Hwy 98 E in Vernon, Florida, within Walton County (zip code 32462). The property offers a single-tenant occupancy opportunity, with the entire 3,000 square feet currently vacant and ready for immediate lease. Its location in the thriving Vernon area provides excellent visibility and accessibility for businesses seeking a presence in this desirable coastal community. The building's total square footage is 3,000 square feet, making it suitable for a variety of retail ventures. The property is classified as commercial retail and is situated in a prime location near Inlet Beach, known for its beautiful beaches and proximity to upscale communities like Rosemary Beach and Alys Beach. This area boasts a blend of serene coastal living and easy access to major hubs such as Panama City Beach and Destin, attracting both tourists and residents. The property's strategic location on US Hwy 98 E ensures high visibility and convenient access for customers. This presents a unique opportunity for businesses to establish a strong foothold in a rapidly growing and attractive market. The property is ready for immediate occupancy, allowing for a swift start to operations. Serious inquiries are encouraged.

    Value Estimations

    based on Realmo’s proprietary methodology

    • AI approach

    • CAP approach

    • Comparable approach

    • Alternative Use

    Location Insight

    • Map
    • Local Demand
    City
    Vernon
    County
    Walton
    State
    Florida
    Longitude
    -86.091
    Latitude
    30.3541

    Comparable in this City

    • Value Estimation by Request
      1,960 SF

      3648 Roche Ave

      SERVICE SHOP (TV, ELECTRIC, PLUMBING) • 1,960 SF
      3648 Roche Ave, Vernon, FL 32462-3357
      View Details
    • Value Estimation by Request

      5178 Boynton Cutoff Rd

      Commercial real estate
      5178 Boynton Cutoff Rd, Vernon, FL 32462
      View Details
    • Value Estimation by Request
      994 SF

      3445 Cook Cir

      BARBER, HAIR SALON • 994 SF
      3445 Cook Cir, Vernon, FL 32462-2317
      View Details
    • Value Estimation by Request
      2,308 SF

      3240 Main St

      RESTAURANT • 2,308 SF
      3240 Main St, Vernon, FL 32462-2223
      View Details
    • Value Estimation by Request
      2.36 Acres

      79 Tbd Hwy

      Commercial real estate • 2.36 Acres
      79 Tbd Hwy, Vernon, FL 32462
      View Details
    • Value Estimation by Request
      4,358 SF

      5178 Boynton Cutoff Rd

      Specialty properties • 4,358 SF
      5178 Boynton Cutoff Rd, Vernon, FL 32462
      View Details

    Similar Nearby for Sale

    • $150,000

      Established Bait and Tackle Shop

      Bait shop with RV rental potential near natural spring.
      3055 Culpepper Ln, Vernon, FL 32462
      View Details
    • $130,000
      Pending

      Land with Highway Frontage

      Land with fruit stand, well, and metal building.
      3292 Main St, Vernon, FL 32462
      View Details
    • $199,999

      Lakeside Oasis on Pate Lake

      Rare parcel with lake and road frontage, ideal for recreation.
      3199 Pate Pond Rd, Vernon, FL 32462
      View Details
    • $2,940,860
      113.11 Acres

      Vernon, FL Land Investment

      113.11 acres with highway frontage near Panama City Beach.
      Hightower Rd, Vernon, FL 32462
      View Details
    • $2,940,860

      Highway Frontage Land Investment

      Land with highway frontage and development potential near Panama City.
      00 Hightower Rd, Vernon, FL 32462
      View Details
    • $69,900
      3.00 Acres

      Land Ready for Homesite

      3-acre homesite with cleared area, mature oaks, paved road.
      River Rd, Vernon, FL 32462
      View Details
    Request Owner's contact information
    Message sent successfully
    Error
    If you are the owner or broker of this property and would like to edit or remove this listing please send a message to web site administrator.
    12805 Us Hwy 98
    Vernon, FL 32462
    Message sent successfully
    Error
    Email to Your Friends
    Link copied to clipboard
    Separate multiple addresses with a comma
    Message sent successfully
    Error

    Realmo Value Estimations

    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.

    Realmo CapRate Calculation

    Realmo calculates the Capitalization Rate (Cap Rate) to help estimate a property's potential return on investment. The Cap Rate is a fundamental metric in commercial real estate that measures the relationship between a property's net operating income and its market value.

    How We Calculate Cap Rate

    Cap Rate Formula:
    Cap Rate (%) = (Net Operating Income / Property Value) × 100

    Net Operating Income (NOI) Formula:
    NOI = Area × Lease Rate × (1 - Vacancy Rate) × (1 - Operating Expense Ratio)

    Components

    Net Operating Income (NOI) represents the annual income a property generates after operating expenses:

    • Area: Building square footage from property records
    • Lease Rate: Annual $/sqft based on market data for the property type and geographic location
    • Vacancy Rate: Percentage of unoccupied space based on market data for the property type and location
    • Operating Expense Ratio: Operating costs as a percentage of income, varies by property type

    Property Value is derived from:

    • Recent sale price (if available)
    • Statistical models using comparable sales
    • AI-powered valuation estimates

    Example Calculation

    For a 100,000 sqft Office Building:

    • Lease Rate: $25.00/sqft/year (market data for Office in this area)
    • Vacancy Rate: 8% (market data for Office in this area)
    • Operating Expense Ratio: 35% (typical for Office properties)
    • Property Value: $15,000,000

    Step 1: Calculate NOI

    NOI = 100,000 × $25.00 × (1 - 0.08) × (1 - 0.35)
    NOI = 100,000 × $25.00 × 0.92 × 0.65
    NOI = $1,495,000/year

    Step 2: Calculate Cap Rate

    Cap Rate = ($1,495,000 / $15,000,000) × 100
    Cap Rate = 9.97%

    Property Type Considerations

    Net Operating Income calculations vary by property type due to different operating expense ratios:

    • Office: Higher expenses (30-40%) for HVAC, utilities, maintenance
    • Retail: Moderate expenses (25-35%) for common area maintenance
    • Industrial/Warehouse: Lower expenses (15-25%) for minimal tenant services
    • Multifamily: Moderate expenses (35-45%) including property management
    • Self-Storage: Lower expenses (25-35%) due to minimal maintenance

    Market lease rates and vacancy rates are specific to each property type and geographic location, reflecting local market conditions.

    Disclaimer

    These calculations are estimates for informational purposes only and should not be used as a substitute for professional financial analysis or appraisal.

    • Cap Rate calculations depend on market data that may change over time
    • Actual operating expenses, lease rates, and vacancy rates may differ from market averages
    • Individual property conditions, lease terms, and tenant quality significantly impact actual NOI
    • Property value estimates are approximations and not official appraisals
    • Cap rates vary widely by market, property condition, and investment risk profile

    Professional Guidance Recommended: Before making any investment or financial decisions, consult with licensed appraisers, commercial real estate brokers, and financial advisors who can evaluate your specific property and circumstances.
    By using this feature, you acknowledge that Realmo is not responsible for investment decisions or actions taken based on these estimates.

    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.

    Stat Estimate

    This method estimates value based on actual market adjusted recent (~5 years) sales of comparable properties around by location and property type.

    • Ranges - area data calculated by industry standard IQR Outlier Removal Method
    • Range-from: 75% of all similar sales ($/sqft) are above this value
    • Range-to: 75% of all similar sales ($/sqft) are below this value
    AI Estimate

    This method estimates value based on AI market estimation of comparable properties around by location and property type.

    • Ranges - area data calculated by industry standard IQR Outlier Removal Method
    • Range-from: 75% of all estimations ($/sqft) are above this value
    • Range-to: 75% of all estimations ($/sqft) are below this value
    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
    Thanks! Your message was sent.
    Error! Your message wasn't sent.
    Please enter your name
    Please enter email
    Please enter the email in the correct format
    Please enter phone
    Please enter the number in the correct format
    Please enter message
    Thank You

    You are Unsubscribed From Notifications

    Thank You for Inquiry
    12805 Us Hwy 98, Vernon, FL, 32462
    letter with green check mark
    Check your email
    We sent you the
    agent's contact details. yellow underline
    Can't find it?
    Please check your junk/spam folder.
    Google sign-in failed. Please try again or use another login method.
    Sign Up Successful!
    You now have access to more from Realmo!