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Property profile & analytics
FOR LEASE
Office buildings
12598 Us Highway 98 W Miramar Beach, FL 32550
Entity Owned
1-yr Hold
Free & Clear
Property ID
US18-5565130
For Lease
1 / 7
$900/Mo
12598 Us Highway 98 W, Miramar Beach, FL 32550
View Listing →
Property profile
Verified
Property type
Office buildings
Use group
OFFICE BUILDING
Year built
2007
Construction
FRAME
Total area
26,470 SF
Lot
1.84 ac (79,976 SF)
Zoning code
HWY 98
APN
30-2S-21-42000-001-0070
UPID
US18-5565130
Cap rate & NOI
Priority signal for investors
Implied cap rate, NOI & suggested price
Cap rate vs submarket · NOI estimate · 3 price anchors
Implied cap rate, NOI & suggested price
Cap vs submarket · NOI estimate · 3 price anchors
Value estimations
Realmo proprietary · 4 methods
AI Approach
AI
$4.94M
CAP Approach
CAP
$5.48M
Comparable Approach
Comparable
$5.14M
Blend (final)
Blend
$5.39M
Owner & transaction history
Phillips Investment Properties LLC · 1 yrs held
Phillips Investment Properties LLC
since 2025
Last sale
$5.5M
6 recorded transactions
Zoning & alternative use
HWY 98 · Miramar Beach, FL
Permitted uses
Permitted uses
Allowed · conditional · prohibited
Top alternative use upside
Retail stores
$8.5M
+60.4%
Restaurant
$7.9M
+48.3%
Commercial (general)
$7.5M
+41.5%
Cap rate
Implied · in-place · derived from last sale + estimated NOI
Implied Cap rate
#1
Implied · in-place · NOI ÷ last sale
In-place · derived from last sale + estimated NOI
Cap rate, NOI & submarket benchmark
Implied cap rate vs Miramar Beach submarket · NOI estimate · Typical band, median & reading
Implied cap rate, NOI & submarket benchmark
Cap vs Miramar Beach submarket · NOI estimate · typical band, median & reading
Refine your cap rate
8-question underwriting flow
1.
Property current status — Going-In vs Stabilized
2.
Price for denominator — asking / offer / market
3.
Leasing status & lease structure (NNN / Gross)
4.
Tenant risk profile & vacancy assumption
5.
Upload T12 / rent roll / OM (optional)
Refine in 60 seconds, get exact suggested price
T12 upload · Submarket benchmarks · Sensitivity grid
Suggested price · 3 cap rate anchors
Income approach @ 5% / 7% / 9% — aggressive / typical / conservative
Suggested price at 5% / 7% / 9% cap
Aggressive / typical / conservative · Implied $/SF per anchor · Sensitivity grid
Suggested price at 5% / 7% / 9% cap
Aggressive / typical / conservative · implied $/SF · sensitivity
Value
AI, CAP & Alternative Use estimations · Realmo proprietary blendValue Estimations
Based on Realmo’s proprietary methodology
AI Approach
Method
Estimation
Statistic approach
$5,330,000
ML approach
$4,940,000
CAP Approach
CAP Return
Estimation
6%
$5,930,000
6.5%
$5,475,000
7%
$5,080,000
Alternative Use
Use
Estimation
OFFICE BUILDING
$5,305,000
Current use
RETAIL STORES
$8,510,000
Change: +60% · Conversion: Moderate
RESTAURANT
$7,865,000
Change: +48% · Conversion: Moderate
COMMERCIAL (GENERAL)
$7,505,000
Change: +41% · Conversion: Easy
Blend value · Realmo final
$5.39M
Range $4.85M – $5.93M · ±10% · vs last sale $5.50M (Sep 6 2022)
Last sale anchor
$5.50M
Sep 6 2022
Realmo estimate · informational only.
These numbers are calculated by our models from public records and may not reflect actual market value.
Not an appraisal.
Verify with a licensed appraiser before transacting. Realmo accepts no liability for divergence from real-world outcomes.
View the full estimation — every method, every assumption
Confidence drivers & risk notes · Custom comparable set · Free for first 3 / day
Full estimation methodology
Every method · every assumption · confidence drivers
Price per SF
Sale + rent benchmarks
Subject property
$204 / SF
Submarket sale & rent benchmarks
Median sale $/SF · Asking & closed rent · Submarket vacancy
Submarket sale & rent benchmarks
Median sale $/SF · asking & closed rent · submarket vacancy
Property tax & assessments
Tax year 2023Property tax & assessments
Tax year 2023
Tax billed
$41,439
Tax year 2023
Assessed value
$4,560,590
Assessed 2023
Previous assessed
$2,609,246
+74.8% YoY
Effective rate
0.91%
On assessed value
Assessed land
$736,000
Assessed improvement
$3,824,590
Land market value
$736,000
Improvement market value
$3,824,590
Total market value
$4,560,590
Applied tax rate
7.0000
Comparables
6 recent transactions · within 1.5 miComparable in this city
6 recent transactions
Comparable in this City
Similar Nearby for Sale
Similar Nearby for Lease
Recent comparable sales
Sale price & price/SF · Sale date & distance · Adjustments & confidence
Recent comparable sales
Sale price & $/SF · sale date & distance · adjustments
Property description
Physical attributes from public recordsBuilding & lot
Public records
Property type
Office buildings
Use group
OFFICE BUILDING
Status
For Lease
Year built
2007
Construction
FRAME
Heating
FORCED AIR
Cooling
CENTRAL
Stories
2
Bathrooms
4
Total area
26,470 SF
Lot
1.84 ac (79,976 SF)
Zoning code
HWY 98
APN
30-2S-21-42000-001-0070
UPID
US18-5565130
Jurisdiction
WALTON
Zoning & alternative use
HWY 98 · Miramar Beach, FLZoning HWY 98 · permitted uses
HWY 98 · Miramar Beach, FL
Permitted & conditional uses
Allowed uses · Special-permit conditions · Prohibited uses
Permitted & conditional uses
Allowed · special-permit conditions · prohibited
Alternative use value scenarios
Repositioning upside vs current use
OFFICE BUILDING Current
Est. value
$5.3M
RETAIL STORES
Est. value
$8.5M
RESTAURANT
Est. value
$7.9M
COMMERCIAL (GENERAL)
Est. value
$7.5M
OFFICE BUILDING Current
RETAIL STORES
RESTAURANT
COMMERCIAL (GENERAL)
Alternative use deep dive — conversion cost, permits, timeline
Conversion cost estimate · Permit path & risks · Stabilized NOI per option
Alternative use deep dive
Conversion cost · permit path · stabilized NOI per option
Building & site characteristics
From public records
Year built
2007
Construction
FRAME
Heating
FORCED AIR
Cooling
Yes
Stories
2
Bathrooms
4
Lot
1.84 ac
Current owner
From public records · entity-resolved
Phillips Investment Properties LLC
Entity
Free & Clear · 1 yrs held
Mailing address
2250 SOUTHWIND BLVD, BARTLETT, IL 60103-1304
Ownership since
2025
Owner contacts — direct phone, email, and related entities
Decision-maker phone · Verified email · Related entities & filings
Owner contacts
Email · phone · related entities
Sales History
6 recorded events · public records
Date
Price
Buyer
Seller
Deed Type
Mortgage
Jul 22, 2025
$325,000
Phillips Investment Properties LLC
Ardeen K Tucker Living Trust
Warranty Deed
—
Sep 6, 2022
$5,500,000
Abbott 8th Emerald Coast LLC
All In Real Estate Group LLC
Special Warranty Deed
$3,850,000 · Innovative Capital Advisors LLC
Feb 20, 2019
—
All In Real Estate Group LLC
—
Deed
related
$3,800,000 · Cornerstone Com'l Mtgs
Dec 27, 2004
$1,775,000
Star Office Park LLC
Trae Ptshp
Warranty Deed
$1,331,250 · Beach Community Bank
—
—
All In Real Estate Group LLC
—
Loan Modification
related
$3,800,000 · Cornerstone Com'l Mtgs
—
—
Star Office Park LLC
—
Deed Of Trust
related
$350,000 · Cornerstone Commercial & Mtg
Coming soon
Costs & Benchmarks
Operating expenses, capex projections, utility benchmarks, and submarket comparables — all in one view.
Coming soon
Risks
Flood, climate, environmental, title, and tenant-concentration risk — surfaced with mitigations and source citations.
Try Rey
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“Is 15.6% cap rate sustainable?” · “Best tenant mix for BU1?” · “What’s the redev upside?”
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