$2,900,000
Destin, FL 32550
MLS# 961517
Status: Sold
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Property 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
Details
Contract Info
GCCMLS Number: 30875580
Listing Board: Emerald Coast
List Date: 2024-07-23
List Price: $2,699,000
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: 0.65
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
Income Producing: 1
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
Income Producing
Property Type: Retail
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-98
State: FL
Zip Code: 32550
County: Walton
Parcel ID: 29-2S-21-42000-011-0012
Property Features
Class: Income Producing; Office; Retail
Construction Status: Existing
Supplements
The approx 0.5 acres behind the building can be purchased for an additional $550K if purchased along with the front building. If purchaser wants to purchase the front building only, the closing will be subject to the property going through the subdivision process with Walton County. The acreage listed is only an approximate and will be finalized once the subdivision process has been completed.
Listing Office: EXP Realty LLC
Last Updated: September - 23 - 2025
All information is believed to be accurate but is not guaranteed. Protected by Copyright© 2020 and is owned either by the Emerald Coast Association of REALTORS®, Inc or by the developers of the software, FBS, Inc. All rights reserved.
