$3,795,000
↓ $100K (2.7%)
●
House -
Off Market
134 Open Gulf Street
Miramar Beach, FL 32550
9 Beds
12 Baths,
4
Half Baths
5,379 Ft²
$4,440,316
RealtyHop Estimate
17.00%
Since Jul 1, 2021
National-US
Primary Model
About This Property
Surpassing $370k+ in projected annual gross revenue, 134 Open Gulf
is designed to act as an all-inclusive resort, located on the south
side of Scenic 98 on a superior 50' x 200' parcel only 380' to the
Gulf of Mexico. Effortlessly infusing indoor/ outdoor living, the
first level is constructed for poolside entertainment and equipped
with a Brunswick pool table next to a comfortable living space. A
pair of Sliding glass doors and glass paneling allows for a
beautiful vantage point of the outside lanai and resort pool.
The brilliantly covered poolside lanai offers a shaded lounge next to a complete outdoor kitchen featuring a 36'' Built-in Grill with ProSear Burner and Rotisserie Viking 5 Series. Tropical landscaping surrounds the masterful private resort-style pool, showcases a swim up bar and a calming waterfall descent wall.
The built-in poolside gazebo features a pair of edgy fire bowls on each side, providing a tranquil atmosphere with picturesque moments.
The second-floor hosts a chef kitchen with noteworthy features including a 48" Gas Range Viking 5 Series with pot filler, kitchen island with waterfall quartz, dual Viking dishwashers, and floor-to-ceiling custom cabinetry. A chic dandelion chandelier is a centerpiece for the custom dining room table that seats 16. Continuing the outdoor living concept, the dining room leads to a large L-shaped balcony that features a Seaside Casual outdoor dining table to seat 8 with a Milan Linear See-Thru Fireplace. With comfort in mind, this residence's 8 bedrooms are all paired with private baths.
The 4th-floor rooftop bar is a sensational piece of architecture that offers both covered and open sky space. The awe-inspiring rooftop pairs stunning views of the Gulf of Mexico with a Linear Cabo Concrete Fire Pit plumbed with gas for unmatched scenery. The rooftop also offers a 30" Lynx built-in cooktop grill with a bar and concluded with a 50" TV. Another rare commodity is the elevator which will reach the 4th-floor for an added luxury and convenience. (Home currently under constructions to be completed June 4,2021)
The brilliantly covered poolside lanai offers a shaded lounge next to a complete outdoor kitchen featuring a 36'' Built-in Grill with ProSear Burner and Rotisserie Viking 5 Series. Tropical landscaping surrounds the masterful private resort-style pool, showcases a swim up bar and a calming waterfall descent wall.
The built-in poolside gazebo features a pair of edgy fire bowls on each side, providing a tranquil atmosphere with picturesque moments.
The second-floor hosts a chef kitchen with noteworthy features including a 48" Gas Range Viking 5 Series with pot filler, kitchen island with waterfall quartz, dual Viking dishwashers, and floor-to-ceiling custom cabinetry. A chic dandelion chandelier is a centerpiece for the custom dining room table that seats 16. Continuing the outdoor living concept, the dining room leads to a large L-shaped balcony that features a Seaside Casual outdoor dining table to seat 8 with a Milan Linear See-Thru Fireplace. With comfort in mind, this residence's 8 bedrooms are all paired with private baths.
The 4th-floor rooftop bar is a sensational piece of architecture that offers both covered and open sky space. The awe-inspiring rooftop pairs stunning views of the Gulf of Mexico with a Linear Cabo Concrete Fire Pit plumbed with gas for unmatched scenery. The rooftop also offers a 30" Lynx built-in cooktop grill with a bar and concluded with a 50" TV. Another rare commodity is the elevator which will reach the 4th-floor for an added luxury and convenience. (Home currently under constructions to be completed June 4,2021)
Unit Size
5,379 Ft²
Days on Market
-
Land Size
0.22 acres
Price per sqft
$706
Property Type
House
Property Taxes
$333
HOA Dues
-
Year Built
2021
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Cap Rate
100% Occupancy
N/A (extreme outlier) What does this mean?
Based on our analysis, the cap rate of this property is 1.25%. A negative cap rate indicates that the property might not be feasible as an income-producing asset. The median cap rate for a near zip code 11238 is 4.23%.
How much can I actually make?
Actual monthly rental income may vary between $4,760 and $7,140 depending on unit-specific characteristics. You can change the amount using the slider to further explore.
How is cap rate calculated?
Cap Rate = Net Operating Income (NOI) / Property Asset Value.
When calculating the cap rate, we assume 100% occupancy. Leverage (mortgage) is not considered.
Cap Rate provided by RealtyHop and RentHop, learn more about cap rate here.
Last updated: 2 years ago (ECAR MLS #870289)
Price History
| Date / Event | Date | Event | Price |
|---|---|---|---|
| Oct 18, 2025 | Price Decreased |
$3,599,000
↓ $100K
(2.7%) | |
| Price Decreased | |||
| Sep 13, 2025 | Price Decreased |
$3,699,000
↓ $51K
(1.4%) | |
| Price Decreased | |||
| Jul 30, 2025 | Price Decreased |
$3,750,000
↓ $100K
(2.6%) | |
| Price Decreased | |||
| Jun 19, 2025 | Price Decreased |
$3,850,000
↓ $105K
(2.7%) | |
| Price Decreased | |||
| May 13, 2025 | Listed | $3,955,000 | |
| Listed | |||
| | |||
|
MOTIVATED SELLER: Luxury Meets Leisure in This Gulf-Side Retreat - Just five homes from the sugar-white sands of the Emerald Coast, this stylish four-story resort style beach house is the ultimate coastal getaway. Completed in 2021 on a premium 50' x 200' lot, it blends resort-style amenities with thoughtful design, making it a top-tier vacation home or rental investment with projected gross revenue of $240,000 annually.
Enjoy breathtaking Gulf views from the rooftop terrace—your private sky lounge for sunset cocktails and starry night gatherings. A heated pool, outdoor kitchen with Lynx grill, gazebo bar, and concrete fire bowls turn the tropical backyard into a personal paradise, perfect for entertaining or unwinding. Inside, this expansive retreat features nine bedrooms, including two custom bunk rooms, and three separate living areas, offering room for everyone to spread out and relax. High-end finishes like a Brunswick pool table, a media room with wet bar, and 8 full / 4 half spa-inspired bathrooms with soaking tubs and walk-in showers elevate the experience on every level.
The heart of the homeon the second flooris a chef's dream: a gourmet kitchen complete with a 48" Viking gas range, pot filler, dual dishwashers, quartz-wrapped island, and seating for 16+ across the island and oversized dining table. Colossal glass doors on the main level open to a seamless indoor-outdoor living area, perfect for poolside lounging or evening gatherings under the stars.
An elevator provides easy access to all four levels, including the spectacular rooftop terrace outfitted with another fire feature, built-in grill, wet bar, and 50" TVideal for catching the game with a Gulf breeze.
Located on the coveted south side of Scenic Highway 98, this thoughtfully designed home delivers the Florida lifestyle at its finest: luxurious, laid-back, and ready to impress.
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Property Highlights
Elevator
Air Conditioning
Building Info
Data used for valuation calculations is provided by RealtyHop, and other third party sources
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About Miramar Beach
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Listed by: Paul C Shorey, Engel & Volkers Destin
Last Updated: 2 years ago
Data Source: Emerald Coast MLS (ECAR), MLS# 870289
Last Updated: 2 years ago
Data Source: Emerald Coast MLS (ECAR), MLS# 870289
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