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    2038 Us Hwy 98th W Santa Rosa Beach, FL 32459-5322
    Property profile & analytics

    2038 Us Hwy 98th W, Santa Rosa Beach, FL 32459-5322

    View on Map
    • Grocery and convenience stores
    • 43,420 SF
    • 10.62 lot acres
    Off-Market
    Property ID
    US18-5909397
    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.
    Value Estimations
    $3,710,000
    Show details
    Cap Rate Potential
    Location Intelligence

    Current Use by Public Records

    • Grocery and convenience stores

    Property Details for 2038 Us Hwy 98th W

    Year built
    2009
    Lot size
    10.62 lot acres
    Zone code
    HWY 98
    Property type
    Grocery and convenience stores
    APN
    26-2S-20-33200-000-0151
    APU
    262S20332000000151

    Value Estimations

    based on Realmo’s proprietary methodology

    • Comparable approach

      Method
      Estimation
      Statistic Estimate
      $4,046,000
      Market price range: $2.61M - $10.9M

    Get a detailed, property-specific estimation — fast and free

    Location Insight

    • Map
    • Local Demand
    City
    Santa Rosa Beach
    County
    Walton
    State
    Florida
    Longitude
    -86.2133
    Latitude
    30.3748
    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
    $59,645
    $2,088,175
    $4,785,747
    $6,873,922
    -
    $2,088,175
    $4,785,747
    $6,873,922

    Comparable in this City

    • Value Estimation
      $4,490,000
      46,014 SF

      110 Watercolor Way

      GROCERY, SUPERMARKET
      110 Watercolor Way, Santa Rosa Beach, FL 32459-7354
      View Details
    • Value Estimation by Request
      1,215 SF

      6595 Us Hwy 98th W

      RETAIL STORES (PERSONAL SERVICES)
      6595 Us Hwy 98th W, Santa Rosa Beach, FL 32459-3255
      View Details
    • Value Estimation
      $865,000
      9,309 SF

      3268 Us Hwy 98th W

      RETAIL STORES (PERSONAL SERVICES)
      3268 Us Hwy 98th W, Santa Rosa Beach, FL 32459-4053
      View Details
    • Value Estimation
      $1,320,000
      10,950 SF

      Central Sq

      RETAIL STORES (PERSONAL SERVICES)
      Central Sq, Santa Rosa Beach, FL 32459
      View Details
    • Value Estimation
      $575,000
      4,000 SF

      3871 County Hwy 30a

      RETAIL STORES (PERSONAL SERVICES)
      3871 County Hwy 30a, Santa Rosa Beach, FL 32459-0417
      View Details
    • Value Estimation by Request
      3,686 SF

      4042 County Hwy 30a

      FINANCIAL BUILDING
      4042 County Hwy 30a, Santa Rosa Beach, FL 32459-7417
      View Details

    Similar Nearby for Sale

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      Santa Rosa Beach Warehouse/Showroom/Office

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    • $7,200,000
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      New Retail Strip Center

      New retail investment property in Santa Rosa Beach, Florida.
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    • $1,550,000

      Renovated Office Building on 30A

      Stand-alone renovated office building with multiple private offices on 30A.
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      Prime Retail Storefront on Scenic 30A

      Commercial retail space on Scenic 30A in Santa Rosa Beach.
      4368 W County Hwy 30A #105, Santa Rosa Beach, FL 32459
      View Details
    • Contact for pricing
      4,877 SF

      Prime Retail Condo on 30A

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    Similar Nearby for Lease

    • Contact for pricing
      30,000 SF

      New Retail/Restaurant Space Available

      30,000 SF retail/restaurant space in Seagrove Beach, Florida.
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      View Details
    • $28 SF/Yr
      33,508 SF

      Retail and Flex Spaces Available

      New commercial retail and flex spaces coming in 2025.
      4935 W 98 Hwy, Santa Rosa Beach, FL 32459
      View Details
    • Contact for pricing
      11,246 SF

      Subdividable Building with Drive-Thru

      Subdividable 11,246 SF building with drive-thru in Santa Rosa Beach.
      3214 Us Highway 98, Santa Rosa Beach, FL 32459
      View Details
    • $9,695 /Mo
      8,357 SF

      Versatile Commercial Space For Rent

      8,300 SF commercial space ideal for retail, office, restaurant.
      605 N Co Hwy 393, Santa Rosa Beach, FL 32459
      View Details
    • Contact for pricing
      3,000 SF

      Retail Space Near Highway 30A

      Retail space with high visibility and convenient highway access.
      4942 Us Highway 98 W, Santa Rosa Beach, FL 32459
      View Details
    • $35 SF/Yr
      6,400 SF

      Retail Center on US HWY 98

      Neighborhood retail center with highway frontage and convenient access.
      4552 S 98, Santa Rosa Beach, FL 32459
      View Details

    Property Visit Statistics

    • Visits by month
      66.0k
    • Visitors by month
      31.4k
    • Avg Time on site
      21 min
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    Santa Rosa Beach, FL 32459-5322
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    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
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