12244 US-98 , Destin, FL 32550

  • $10,995,000
  • $10,950,000
12244 US-98 , Destin, FL 32550
Active Existing

12244 US-98 , Destin, FL 32550

12244 US-98 , Destin, FL 32550
  • $10,995,000
  • $10,950,000

Overview

  • Commercial For Sale
  • Property Type
  • 898459
  • MLS#

Description

This rare assemblage of prime retail, showroom, and warehouse does not currently exist in the local market, which is adjacent to the synergistic retail nucleus of Silver Sands Outlet Mall and centralized to all the local mixed-use districts, successfully drawing population from all local peripheral sub-markets, including but not limited to Destin and Scenic 30A of Santa Rosa Beach, Florida. Fronting Highway 98 in Miramar Beach, Florida, nearly 50,000 vehicles pass by its 196 fronting feet daily, which ingress and egress lures the traffic into the retail facilities through the convenience of the traffic light at North Geronimo Street and Highway 98. The current owner has committed significant capital to renovate both buildings, which even includes approximately $300,000 for new… escalators to service the second floor of the main showroom. Parcel 1 contains a two-story building, oriented on approximately 1.18 acres, hosting prime retail and showroom space, as well as private offices, collectively measuring approximately 26,893 conditioned square feet. There is a 3rd floor that accommodates a spectacular executive office, accessible via a private & secured “floating” staircase. The structural integrity of the building is phenomenal, and the finishes throughout are exceptional. Parcel 2 contains a warehouse, office, and showroom, situated on approximately 2 acres, and constructed in 2004, measuring approximately 11,282 square feet on two floors. The warehouse contains a broad loading dock area and massive rack system with a lift and guide rails. Both buildings project an architecturally magnificent image. This opportunity is irreplaceable locally, as land development code would neither accommodate this massive yield, nor would a developer endeavor upon such a project, as the inflationary costs of this era, coupled with land costs, (even if such prime vacant land at a traffic light were available), which is non-existent), would likely much exceed $20,000,000.00+. The current business is operating a record-breaking levels, year over year; thus the attributable value to this extremely prime site and assemblage is likely understated. All showings are by appointment only and require 48+ hours advanced notice. The listing broker must accompany all showings. Financial credentials are required prior to confirmation of any showings. Please do not approach any onsite staff.

  • Address 12244 US-98
  • City Destin
  • State/county FL
  • Zip/Postal Code 32550

Details

Updated on June 20, 2024 at 1:18 pm
  • Property ID: HZ898459
  • Price: $10,995,000
  • Land Area: 3.18 Acres
  • Garage Size: x x
  • Property Type: Commercial For Sale
  • Property Status: Active
  • MLS#: 898459

Mortgage Calculator

Monthly
  • Down Payment
  • Loan Amount
  • Monthly Mortgage Payment
  • Property Tax
  • Home Insurance
  • PMI
  • Monthly HOA Fees
$
%
%
%
$
$
%

What's Nearby?

Active Life
Pro-Active Medical Center (7.35 mi)
Exceptional 4 reviews
Active Healing Massage & Wellness (33.37 mi)
Exceptional 4 reviews
Active Foot Care (43.54 mi)
Exceptional 2 reviews
Walton County Beach Activities (10.62 mi)
Poor 1 reviews
Robin's Bikes & Fitness (0.05 mi)
Good 35 reviews
Mattress Firm Miramar Beach (0.08 mi)
Good 7 reviews
Health & Medical
Destin Hot Yoga (0.1 mi)
Exceptional 23 reviews
Platinum Nails Spa (0.11 mi)
Exceptional 39 reviews
The Blake at Miramar Beach (0.11 mi)
0 reviews
Baro-Therapies (0.14 mi)
0 reviews
Stubbs Orthodontics South (0.15 mi)
0 reviews
Custom Concepts Tattoos and Designs (0.15 mi)
Exceptional 35 reviews
Pets
Patrick Barry, DVM (0.35 mi)
0 reviews
Barry Veterinary Hospital (0.35 mi)
Good 18 reviews
Big Boy Builds (0.88 mi)
0 reviews
Emerald Coast Memories (1.21 mi)
Exceptional 1 reviews
Austins Pet Sitting And House Cleaning (1.14 mi)
0 reviews
Groomingdales (2.09 mi)
Exceptional 11 reviews
Restaurants
Fajitas Grill (0.08 mi)
Fair 5 reviews
Buffalo Jack's Legendary Wings & Pizza (0.08 mi)
Good 490 reviews
Shan Kishi (0.1 mi)
Good 433 reviews
Aegean Greek Restaurant (0.1 mi)
Good 366 reviews
Tequila's Mexican Restaurant (0.1 mi)
Average 91 reviews
Real Thai Fusion Restaurant (0.11 mi)
Exceptional 332 reviews

Contact Information

View Listings
Beach Sunsets Realty

Enquire About This Property

Compare listings

Compare
Beach Sunsets Realty
  • Beach Sunsets Realty