12272 Us Highway 98, Destin, FL 32550 (MLS# 955342)

12272 Us Highway 98, Destin, FL 32550

$2,900,000

Property Type: Commercial for Sale Lot Size (sq. ft.): 50,530 Status: Sold

Current Price: $2,995,000 List Date: 7/23/2024 Last Modified: 9/23/2025

Description

Freestanding Building in Miramar Beach, FL with 8,300 ft Expansion Potential!! Investors take note!!! 7% cap rate with long term leases on current building!!! Welcome to this prime commercial property in Miramar Beach, Florida, This versatile building presents a unique income-producing opportunity, ideal for an owner-user looking to occupy the first floor while retaining a long-term tenant, Causeway Coffee, on the second floor. Key Features: Location: Located in the community of Miramar Beach, Florida, known for its tourism and commercial activities. Size: Nearly 5,000 ft of existing building footprint with potential for an additional 8,300 sq ft of improvements. Click here for a virtual tour of the building: https://tour.pivo.app/view/68be7b34-f5d2-493b-873e-a1c07940e7a2

Supplements: See attachments for expansion site plan layout

More Information MLS# 955342

Contract Info

GCCMLS Number: 30875580 Listing Board: Emerald Coast List Date: 2024-07-23 List Price: $2,995,000

Location, Tax and Legal

Sub Area: 1501 - Miramar Beach North Legal Description: COM SE/C NW4 SEC 29-2S-21W, N 02 DEG 16'03''E 302.05FT TO N ROW ST RD 30 (US 98) N 87 DEG 28'57''W ALG ROW 768.38FT, CONT N 87 DEG 28'57 W ALG ROW 540.18FT TO POB; CONT ALG LAST DESC COURSE 300FT, N 02 DEG 24'37''E 400FT, S 87 DEG 37'23''E 300FT,S 02 DEG 24'37''W 400FT TO POB. OR 1360-139 OR 1360-142 LESS AND EXCEPT: W 174FT OF THE ABOVE DESC PRCL. OR 2925-1601 OR 3264-689

General Property Info

Listed on GCCMLS: Yes Office Class: A Vacant: No Acreage: 1.16

Listing Info, Tax & Legal

As Is: Yes

Remarks & Misc

Remarks: Freestanding Building in Miramar Beach, FL with 8,300 ft Expansion Potential!! Investors take note!!! 7% cap rate with long term leases on current building!!! Welcome to this prime commercial property in Miramar Beach, Florida, This versatile building presents a unique income-producing opportunity, ideal for an owner-user looking to occupy the first floor while retaining a long-term tenant, Causeway Coffee, on the second floor. Key Features: Location: Located in the community of Miramar Beach, Florida, known for its tourism and commercial activities. Size: Nearly 5,000 ft of existing building footprint with potential for an additional 8,300 sq ft of improvements. Click here for a virtual tour of the building: https://tour.pivo.app/view/68be7b34-f5d2-493b-873e-a1c07940e7a2

Class

Office: 1 Retail: 1

Construction Status

Existing: 1

Office

Year Built: 2015 Building SqFt: 3860 Property Type: Low Rise # of Units: 1

Lot Features

Coastal Barrier Zone: No

Retail

Year Built: 2015 # of Units: 1

None

Current Price: $2,900,000

Status Change Info

Status: Sold Under Contract Date: 2025-07-15 Sold Date: 2025-09-18 Sold Price: $2,900,000

Location Tax and Legal

Area: 15 - Miramar/Sandestin Resort Street #: 12272 Street Name: Us Highway 98 State: FL Zip Code: 32550 County: Walton Parcel ID: 29-2S-21-42000-011-0012

Property Features

Class: Office; Retail Construction Status: Existing

Listing Office: EXP Realty LLC

Last Updated: September - 23 - 2025

All information is believed to be accurate but is not guaranteed. Protected by Copyright© 2026 and is owned either by the Emerald Coast Association of REALTORS®, Inc or by the developers of the software, FBS, Inc. All rights reserved.