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    Property profile & analytics

    655 Grand Blvd Miramar Beach, FL 32550-1841

    • Grocery and convenience stores
    • 48,650 SF
    • 12.83 lot acres
    OFF-MARKET
    Last Sale
    Oct 02, 2023
    $3,055,000
    Value Estimations
    $3,045,000
    Show details
    Cap Rate Potential
    Location Intelligence
    Property ID
    US18-4830092
    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.

    Current Use by Public Records

    • Grocery and convenience stores

    Property Details for 655 Grand Blvd

    Year built
    2003
    Construction
    MASONRY/CONCRETE MASONRY UNITS (CMUS)
    Lot size
    12.83 lot acres
    Property size
    48,650 SF
    Zone code
    HWY 98
    Property type
    Grocery and convenience stores
    APN
    26-2S-21-42000-001-0110
    APU
    262S21420000010110

    Value Estimations

    based on Realmo’s proprietary methodology

    • AI approach

      Method
      Estimation
      Statistic approach
      $2,925,000
      ML approach
      $3,750,000

    • Comparable approach

      Method
      Estimation
      AI Estimate
      $3,138,000
      Market price range: $1.21M - $3.14M

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

    Location Insight

    • Map
    • Local Demand
    City
    Miramar Beach
    County
    Walton
    State
    Florida
    Longitude
    -86.3112
    Latitude
    30.3792
    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
    $120,990
    $0.00
    $18,764,182
    $18,764,182
    -
    $0.00
    $18,764,182
    $18,764,182

    Comparable in this City

    • Value Estimation
      $7,745,000
      53,281 SF

      65 Poinciana Blvd

      GROCERY, SUPERMARKET • 53,281 SF
      65 Poinciana Blvd, Miramar Beach, FL 32550-4036
      View Details
    • Value Estimation by Request
      4,842 SF

      1200 Scenic Gulf Dr Unit B Miramar Bch

      Individual retail properties • 4,842 SF
      1200 Scenic Gulf Dr Unit B Miramar Bch, Miramar Beach, FL 32550
      View Details
    • Value Estimation
      $1,505,000
      16,481 SF

      60 Holiday Rd

      RETAIL STORES (PERSONAL SERVICES) • 16,481 SF
      60 Holiday Rd, Miramar Beach, FL 32550-3996
      View Details
    • Value Estimation
      $1,935,000
      16,160 SF

      632 Scenic Gulf Dr

      RETAIL STORES (PERSONAL SERVICES) • 16,160 SF
      632 Scenic Gulf Dr, Miramar Beach, FL 32550-4336
      View Details
    • Value Estimation
      $1,025,000
      7,632 SF

      11974 Us Hwy 98th W

      RETAIL STORES (PERSONAL SERVICES) • 7,632 SF
      11974 Us Hwy 98th W, Miramar Beach, FL 32550-6917
      View Details
    • Value Estimation
      $640,000
      5,532 SF

      9950 Us Hwy 98th W

      RETAIL STORES (PERSONAL SERVICES) • 5,532 SF
      9950 Us Hwy 98th W, Miramar Beach, FL 32550-4992
      View Details

    Similar Nearby for Sale

    • $5,995,000

      Iconic Retail Building on Prime Parcel

      Freestanding retail/warehouse building on 1.25-acre parcel in Miramar Beach.
      12870 Us-98, Destin, FL 32550
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    • $2,699,000
      3,860 SF

      Miramar Beach Retail Opportunity

      Prime Destin Storefront, High ROI
      12272 Us Highway 98, Miramar Beach, FL 32550
      View Details
    • $3,995,000

      Freestanding Retail Building on Highway

      Retail building with showroom, warehouse, offices, and loading dock.
      12170 Us-98, Miramar Beach, FL 32550
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    • $2,999,000

      Miramar Beach Commercial Property on US-98

      High-visibility commercial property on US-98 in Miramar Beach, Florida.
      12330 Miramar Beach Dr, Miramar Beach, FL 32550
      View Details
    • $749,000

      Miramar Beach Retail/Office Space

      Retail space with offices in high-traffic Miramar Beach complex.
      12889 Miramar Beach Dr, Miramar Beach, FL 32550
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    • $450,000

      Miramar Beach Retail/Office Space

      Retail or office space in high-visibility Holiday Plaza.
      12273 Miramar Beach Dr, Miramar Beach, FL 32550
      View Details

    Similar Nearby for Lease

    • $5,744 /Mo

      Retail Space in Baytowne Wharf

      Retail space available in Sandestin Golf and Beach Resort.
      A7 A8 Cannery Ln Ln, Miramar Beach, FL 32550
      View Details
    • Contact for pricing
      12,000 SF

      Prime Retail Space Available

      Former CVS space in shopping center anchored by Winn-Dixie.
      17-125 Poinciana Blvd, Miramar Beach, FL 32550
      View Details
    • $35 SF/Yr
      1,250 SF

      Destin Village Shoppes Retail Space

      Prime Miramar Beach retail space available. High traffic, great visibility.
      11394 US Hwy 98 W, Miramar Beach, FL 32550
      View Details
    • $2,495 /Mo

      Retail Space in Baytowne Wharf

      Retail space available in Sandestin Golf and Beach Resort.
      105 Cannery Ln Ln, Miramar Beach, FL 32550
      View Details
    • $1,850,000
      3,473 SF

      Prime Commercial Property Near Beach

      Highly visible commercial property near Silver Sands Premium Outlets.
      30 S Shore Dr, Miramar Beach, FL 32550
      View Details
    • $16,600 /Mo

      Retail Space in Miramar Beach

      Retail space for lease in high-traffic Miramar Beach complex.
      12889 Emerald Coast Pkwy, Miramar Beach, FL 32550
      View Details

    Property Visit Statistics

    • Visits by month
      1.1k
    • Visitors by month
      1.1k
    • Avg Time on site
      23 min
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    Miramar Beach, FL 32550-1841
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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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