Sign Up Successful!
You now have access to more from Realmo!
Property Lookup
    Property Lookup
    • For Sale
    • For Lease
    • Recently Sold
    • Property Lookup
    • Brokers
    AI Search
    Back to Search
    The Largest CRE Database in the US with Over 1 Million Listings
    Property profile & analytics

    Scenic Gulf Dr Miramar Beach, FL 32550

    • Warehouses
    • 920 SF
    • 0.34 lot acres
    OFF-MARKET
    Value Estimations
    Cap Rate Potential
    Location Intelligence
    Property ID
    US18-7510574
    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

    • Warehouses

    Property Details for Scenic Gulf Dr

    Year built
    1983
    Construction
    MASONRY/CONCRETE MASONRY UNITS (CMUS)
    Lot size
    0.34 lot acres
    Property size
    920 SF
    Property type
    Warehouses
    APN
    32-2S-21-42260-000-0170
    APU
    322S21422600000170

    Value Estimations

    based on Realmo’s proprietary methodology

    • AI approach

    • CAP approach

    • Comparable approach

    • Alternative Use

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

    Location Insight

    • Map
    • Local Demand
    City
    Miramar Beach
    County
    Walton
    State
    Florida
    Longitude
    -86.375
    Latitude
    30.377
    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
    $2,803
    $380,546
    $11,445
    $391,991
    -
    $380,546
    $11,445
    $391,991

    Comparable in this City

    • Value Estimation
      $2,785,000
      24,600 SF

      260 Geronimo St

      MINI-WAREHOUSE, STORAGE • 24,600 SF
      260 Geronimo St, Miramar Beach, FL 32550-4025
      View Details
    • Value Estimation
      $580,000
      7,092 SF

      50 Hatchew Rd

      MINI-WAREHOUSE, STORAGE • 7,092 SF
      50 Hatchew Rd, Miramar Beach, FL 32550-4648
      View Details
    • Value Estimation by Request
      1,836 SF

      195 Holiday Rd

      WAREHOUSE, STORAGE • 1,836 SF
      195 Holiday Rd, Miramar Beach, FL 32550-6927
      View Details
    • Value Estimation
      $4,615,000
      33,280 SF

      10935 Us Hwy 98th W

      MINI-WAREHOUSE, STORAGE • 33,280 SF
      10935 Us Hwy 98th W, Miramar Beach, FL 32550-4531
      View Details
    • Value Estimation
      $1,100,000
      14,280 SF

      120 Geronimo St

      MINI-WAREHOUSE, STORAGE • 14,280 SF
      120 Geronimo St, Miramar Beach, FL 32550
      View Details
    • Value Estimation
      $1,195,000
      16,944 SF

      147 Hatchew Rd

      MINI-WAREHOUSE, STORAGE • 16,944 SF
      147 Hatchew Rd, Miramar Beach, FL 32550-4647
      View Details

    Similar Nearby for Sale

    • $5,995,000

      Freestanding Retail Building in Miramar Beach

      Iconic retail and warehouse space on a prime 1.25-acre parcel.
      12870 Us Highway 98 W, Miramar Beach, FL 32550
      View Details
    • $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
      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
      View Details
    • $7,950,000
      38,175 SF

      Prime Retail, Showroom, and Warehouse

      Rare assemblage of retail, showroom, and warehouse space for sale.
      12244 Us Highway 98 W, Miramar Beach, FL 32550
      View Details
    • $2,195,000

      Miramar Beach Warehouse Opportunity

      Freestanding 6,000 SF warehouse in high-demand South Walton County.
      220 Business Centre Dr, Miramar Beach, FL 32550
      View Details
    • $1,900,000
      4,842 SF

      Beachfront Commercial Condo, Miramar Beach

      Prime Miramar Beach commercial space, stunning ocean views.
      1200 Scenic Gulf Drive, Miramar Beach, FL 32550
      View Details

    Similar Nearby for Lease

    • $18 SF/Yr
      2,600 SF

      Miramar Beach Flex Space Sublease

      Flex space sublease in Miramar Beach, right off Highway 98.
      80 South Geronimo St, Miramar Beach, FL 32550
      View Details
    • $16 SF/Yr
      2,600 SF

      Miramar Beach Industrial Space

      2600 SF Manufacturing/Warehouse
      80 Geronimo St, Miramar Beach, FL 32550
      View Details
    • $1,700 /Mo
      1,000 SF

      Miramar Beach Office Space For Lease

      1000 sq ft office, great location, all-inclusive rent.
      10065 us 98, Destin, FL 32550
      View Details
    • $24 SF/Yr
      26,470 SF

      Miramar Beach Office Space Available

      3,910 SF Office Suite, Prime Location
      12598 Emerald Coast Pkwy, 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
    • $800 /Mo

      Executive Suites For Lease

      Individual offices/executive suites for lease with shared amenities.
      12598 Us Highway 98 W, Miramar Beach, FL 32550
      View Details
    Request Owner's contact information
    Message sent successfully
    Error
    If you are the owner or broker of this property and would like to edit or remove this listing please send a message to web site administrator.
    Scenic Gulf Dr
    Miramar Beach, FL 32550
    Message sent successfully
    Error
    Email to Your Friends
    Link copied to clipboard
    Separate multiple addresses with a comma
    Message sent successfully
    Error

    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
    Thanks! Your message was sent.
    Error! Your message wasn't sent.
    Please enter your name
    Please enter email
    Please enter the email in the correct format
    Please enter phone
    Please enter the number in the correct format
    Please enter message
    Thank You

    You are Unsubscribed From Notifications

    Google sign-in failed. Please try again or use another login method.