1688 Scenic Gulf Dr Miramar Beach, FL 32550-6937
Property profile & analytics
1688 Scenic Gulf Dr, Miramar Beach, FL 32550-6937
- Community centers
- 8,726 SF
- 0.45 lot acres
Property ID
US18-5617091
The Realmo ID is a unique identifier assigned to every property, incorporating country codes and precise geo-coordinates for 300x300-foot land blocks. It enables standardized data collection and seamless integration of disparate sources such as ownership, tax, title data and physical specifications. By aggregating current and historical records, the Realmo ID powers advanced analytics and delivers deep, verifiable insights for real estate professionals.
Location Intelligence
Current Use by Public Records
- Community centers
Property Details for 1688 Scenic Gulf Dr
- Year built
- 1974
- Construction
- STEEL FRAME
- Lot size
- 0.45 lot acres
- Property type
- Community centers
- Property subtype
- Shopping centers
- APN
- 32-2S-21-42260-000-0231
- APU
- 322S21422600000231
Description
This exceptional retail property, located at 1688 Scenic Gulf Drive in Miramar Beach, Florida, presents a lucrative investment opportunity. The 8,726 square foot building boasts a prime location directly across from the Gulf of Mexico, ensuring high visibility and significant foot traffic from tourists and residents alike. Currently operating at 100% occupancy with a diverse tenant mix including a national franchise (Dairy Queen), a real estate agency (Emerald Coast Beach Home Realty), and a local restaurant (Pascali Kitchen), the property generates a substantial annual rental income of $248,814. The current leases are nearing their end, providing a potential for significant rental increases. The primary tenant occupies 4,574 square feet and pays below-market rent, offering further upside potential. Annual CAM charges are $34,639.35. The asking price is $8,650,000, representing a 5.00% cap rate. The property is offered as a free-standing building with the possibility of redevelopment up to three stories. The seller is also willing to sell the existing inventory and may consider remaining as a tenant. This presents a unique opportunity to acquire a high-performing retail complex in a highly desirable location. A package deal including two additional properties is also available for a total price of $18,999,999. The remaining lease term on the current tenants is two years. The property is classified as multi-tenancy with a gross lease type.
Value Estimations
based on Realmo’s proprietary methodology
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AI approach
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CAP approach
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Comparable approach
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Alternative Use
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Location Insight
- Map
- Local Demand
- City
- Miramar Beach
- County
- Walton
- State
- Florida
- Longitude
- -86.3761
- Latitude
- 30.3771
- CBSA code
- 18880
- CBSA name
- CRESTVIEW-FORT WALTON BEACH-DESTIN, FL METROPOLITAN STATISTICAL AREA
Property Tax & Assessments
Tax date
Tax Amount
Assessed Land Value
Assessed Improvement Value
Total Assessed Value
Applied Tax Rate
Land Market Value
Improvement Market Value
Total Market Value
2023
$6,932
$500,584
$407,279
$907,863
-
$500,584
$407,279
$907,863
