1200 Scenic Gulf Dr Miramar Beach, FL 32550
- Retail properties
- 7,125 SF
Current Use by Public Records
- Retail properties
Property Details for 1200 Scenic Gulf Dr
- Year built
- 1974
- Property size
- 7,125 SF
- Property type
- Retail properties
Description
This 7,125 square foot retail space at 1200 Scenic Gulf Drive in Miramar Beach, Florida (Walton County, zip code 32550) is offered for sale at $4,590,000. Located within the Seascape Resort community, this ground floor property boasts stunning direct views of the Gulf of Mexico. Currently operating at 100% occupancy with a gross lease in place, the property generates over $192,000 in annual rent. The existing tenant occupies 6,255 square feet, paying $18 per square foot. An additional 870 square feet is occupied by Kilwins, a national franchise, under a new lease. Built in 1974, this multi-tenant property presents a significant opportunity for investors seeking a strong return. The property offers a 5.00% cap rate and has a remaining lease term of two years. The seller is open to various transition scenarios, including a short-term leaseback, immediate vacancy, or even assisting with the sale of existing merchandise and staff training. This exceptional location is ideal for a variety of retail uses. Note that the lot size is 0 square feet. This listing is also available as part of a larger package deal including two additional properties.
Value Estimation
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CAP approach
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Comparable approach
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Alternative Use
Location Insight
- Map
- Local Demand
- City
- Miramar Beach
- County
- Walton
- State
- Florida
- Longitude
- -86.3679
- Latitude
- 30.3758
