12607 W US HIGHWAY 98 East Parcel, Miramar Beach, FL 32550 (MLS# 724028)

12607 W US HIGHWAY 98 East Parcel, Miramar Beach, FL 32550

$2,500,000

Property Type: Commercial for Sale Lot Size (sq. ft.): 78,408 Status: Sold

Current Price: $2,500,000 List Date: 9/02/2016 Last Modified: 10/12/2024

Description

165 foot frontage on this 1.8 acre site on Highway 98 ideally situated between Destin and Sandestin Resort, with traffic counts of approximately 50,000 per day. Five income producing units with solid tenants and gross income of $140,000. There are three buildings on this parcel one has a total area of 7,900 square feet, another with 4,950 square feet of total area and one with 3,125 square feet of total area. This is part of 6.69 acre site which is also available. Previous development order for the entire 6.89 parcel allowed for 175,000 square feet of retail and commercial. Suitable for hotel/motel, multifamily and residential.

More Information MLS# 724028

Contract Info

Listing Board: Emerald Coast List Date: 2015-02-03 List Price: $2,500,000

Location, Tax and Legal

Unit #: East Parcel Sub Area: 1502 - Miramar Beach S. of 98 w/exception of Sandestin Resort Legal Description: LOT 12 S/D OF SE4 SEC 30-2S-21 *ALSO: COM NE/C LOT 12, N 100 FT, W 164.87FT, S 100FT, E 164.87FT TO POB *LESS & EXCEPT 82.43FT E & W BY 120.58FT N & S IN SW/C LOT 12 OR 2124-13 OR 2394Â187 OR 2461-1122 OR 2638-2979 OR 2801-2394

General Property Info

Listed on GCCMLS: Yes Office Class: Office, professional, retail, multi-family, hotel, motel Property Information: Income producing Vacant: No Lot SqFt: 78375 Immediate Occupancy: No Lot Depth: 475 CAM: 0 Lot Frontage: 165 Acreage: 1.8

Listing Info, Tax & Legal

As Is: Yes

Remarks & Misc

Remarks: 165 foot frontage on this 1.8 acre site on Highway 98 ideally situated between Destin and Sandestin Resort, with traffic counts of approximately 50,000 per day. Five income producing units with solid tenants and gross income of $140,000. There are three buildings on this parcel one has a total area of 7,900 square feet, another with 4,950 square feet of total area and one with 3,125 square feet of total area. This is part of 6.69 acre site which is also available. Previous development order for the entire 6.89 parcel allowed for 175,000 square feet of retail and commercial. Suitable for hotel/motel, multifamily and residential.

Class

Income Producing: 1

Construction Status

Existing: 1

Income Producing

Annual Gross Income: 140000 Cap Rate: 6.4 Property Type: Office

None

Current Price: $2,500,000

Status Change Info

Status: Sold Under Contract Date: 2016-05-01 Sold Date: 2016-08-01 Sold Price: $2,500,000

Location Tax and Legal

Area: 15 - Miramar/Sandestin Resort Street #: 12607 Street Direction: W Street Name: US HIGHWAY 98 State: FL Zip Code: 32550 County: Walton Parcel ID: 30-2S-21-42290-000-0120

Property Features

Class: Income Producing Construction Status: Existing

Listing Office: RE/MAX Coastal Properties

Last Updated: October - 12 - 2024

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.