12272 US-98, Destin, FL 32550 (MLS# 961517)

12272 US-98, Destin, FL 32550

$2,900,000

Virtual Tour

https://tour.pivo.app/view/68be7b34-f5d2-493b-873e-a1c07940e7a2

Property Type: Commercial for Sale Lot Size (sq. ft.): 28,314 Status: Sold

Current Price: $2,900,000 List Date: 10/21/2024 Last Modified: 9/23/2025

Overview

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: 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 ... (Read more)

Listing Details MLS# 961517

Status Change Info

Under Contract Date: 2025-07-15
Sold Date: 2025-09-18

Contract Info

GCCMLS Number: 30875580
Listing Board: Emerald Coast

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

General Property Info

Listed on GCCMLS: Yes
Office Class: A
Vacant: No
Acreage: 0.65

More Information

Lot Features

Coastal Barrier Zone: No

Office

Year Built: 2015
Building SqFt: 3860
# of Units: Yes

Retail

Year Built: 2015
# of Units: Yes

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

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: Yes
Office: Yes
Retail: Yes

Construction Status

Existing: Yes

Property Features

Class: Income Producing; 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.