Lot 5 Shore Drive
About This Property
Rare find! Buildable lot across the street from the bay. Breathtaking water views and sunrise views from second story with the right floor plan. A couple block walk to the bay/park. Boat ramp just down the road. 6 Minute drive from public beach access in Miramar Beach. Quiet neighborhood! Survey available. Will need to pay to tap into city water, etc. Build your dream residence or build for a rental. Buyer to due all due diligence.
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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.
Price History
| Date / Event | Date | Event | Price |
|---|---|---|---|
| Jan 17, 2025 | Sold | ||
| Sold | |||
| Apr 24, 2024 | Listed by LPT Realty LLC | $299,000 | |
| Listed by LPT Realty LLC | |||
| Apr 9, 2022 | No longer available | - | |
| No longer available | |||
| Apr 7, 2022 | Listed by EXP Realty LLC | $235,000 | |
| Listed by EXP Realty LLC | |||
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This beautiful lot with potential for Bay views makes it a perfect homesite for full time residents or second homeowners. Perfectly located near the shores of the Choctawhatchee Bay, the quiet street offers tranquility while still being close to shopping, golf courses, restaurants, and everything Sandestin and Destin have to offer. Golf cart to the beach or the Seascape Town Centre! High and dry lot located in an X flood zone. There are no HOA fees and the tap fees are due. Buyer to perform their own due diligence. Survey is available.
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| Mar 9, 2020 | No longer available | - | |
| No longer available | |||
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About Miramar Beach
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Last Updated: 2 years ago
Data Source: Emerald Coast MLS (ECAR), MLS# 948143
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Phone: 425-283-2930
Address: 335 Madison Avenue, New York, NY 10017