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$ 5,995,000
Est. payment | /mo
51,400 SqFt
$ 5,995,000
Est. payment | /mo
51,400 SqFt
Key Details
Property Type Commercial
Listing Status Active
Purchase Type For Sale
Square Footage 51,400 sqft
Price per Sqft $116
MLS Listing ID 978842
Lot Size 1.180 Acres
Acres 1.18
Source Emerald Coast Association of REALTORS®
Property Description
Extraordinary freestanding retail building oriented on a prime corner parcel at a signalized intersection in proximity to the synergistic retail nucleus of Silver Sands Premium Outlets in South Walton County, Florida, and centralized to all the local mixed-use districts, successfully catering to retail patrons 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, ±50,000 vehicles pass by its 196 fronting feet daily, which convenient ingress and egress lures the traffic into the retail facility through the traffic light at North Geronimo Street and Highway 98 in Miramar Beach, Florida. The current owner has committed significant capital by renovating the building, which even includes escalators to service the second floor of the main showroom. The parcel 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 "floating" staircase. The structural integrity of the building is phenomenal, and the finishes throughout are exceptional. This opportunity is irreplaceable, as Walton County land development code would neither accommodate this expansive yield, nor would a developer endeavor upon such a project, as the development and building costs indicative of this era, coupled with land costs, (even if such prime vacant commercial land at a traffic light were available, which is nearly non-existent), would likely exceed $15m+. The current business is winding down its operation, and thus, occupancy should be plausible by ±March, 2026. All showings are by appointment only and require advanced notice. The listing broker(s) must accompany all showings.
Location
State FL
County Walton
Area 15 - Miramar/Sandestin Resort
Direction MapQuest: 12244 US Highway 98 West, Miramar Beach, FL 32550
Exterior
Garage No
Building
Faces MapQuest: 12244 US Highway 98 West, Miramar Beach, FL 32550
New Construction No
Others
Pets Allowed No
Tax ID 28-2S-21-42000-003-0060
Listed by John Paul Somers Somers & Company
Nearby Locations
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Tomell Johnson
REALTOR® | Lic# SL3413882