Shopping Strip
98 Central
4688 US-98, Santa Rosa Beach, FL 32459
Listing Price: $7,200,000
Investment Overview
Marcus & Millichap is pleased to present 98 Central, a brand-new (2024) Class A strip retail
investment located in Santa Rosa Beach, Florida, within the highly sought-after Beaches of Scenic
Highway 30A market. The Property consists of two newly constructed retail buildings totaling
12,000 square feet and is 100% leased to a diverse, complementary tenant mix, delivering strong
in-place cash flow in a high-barrier-to-entry coastal market .
Strategically positioned along U.S. Highway 98, the area’s primary east–west thoroughfare, 98
Central benefits from approximately 37,000 vehicles per day, over 200 feet of frontage, and
exceptional visibility and accessibility for both full-time residents and year-round tourists. The
corridor serves as the main commercial spine supporting the 30A communities, reinforcing long-term tenant demand.
All tenants operate under NNN lease structures with full CAM reimbursements, including
management fees, ideal for a passive investor. Ownership exposure is limited to long-term capital
items, which are deferred given 2024 construction, offering a low-maintenance investment profile.
Additionally, 3% annual rent escalations across the rent roll provide consistent NOI growth and
built-in inflation protection.
Located within an affluent trade area, Santa Rosa Beach is characterized by strong household
incomes, a rapidly growing permanent population, and substantial seasonal tourism, supporting
discretionary retail, service, and fitness-oriented tenants. Ongoing residential and commercial
development throughout South Walton County further enhances the long-term fundamentals of
this core retail asset.
98 Central
Investment Highlights
- •Rare Opportunity To Purchase A Brand-new Strip Center Within A High Barrier To Entry Market
- •All Tenants Operate Under NNN Leases With Full Cam Reimbursements, Including Management Fees. Landlord Responsibility Is Limited To Long-term Capital Items, Which Are Deferred Given 2024 Construction
- •Carefully Curated Tenant Mix Of Primarily Service, Food, Or Fitness Oriented Tenants Support A Synergistic Environment
- •Exceptional Exposure Off Of Us-98 (37,000 VPD) The Primary East-west Thoroughfare In The 30A Region
- •Affluent Market With Median Household Income Exceeding $75,000, Supporting Strong Retail Sales And Discretionary Spending
- •3% Annual Rent Escalations Across The Board Ensure Consistent NOI Growth Given NNN Lease Structure
Listing Price: $7,200,000
Investment Highlights
- •Rare Opportunity To Purchase A Brand-new Strip Center Within A High Barrier To Entry Market
- •All Tenants Operate Under NNN Leases With Full Cam Reimbursements, Including Management Fees. Landlord Responsibility Is Limited To Long-term Capital Items, Which Are Deferred Given 2024 Construction
- •Carefully Curated Tenant Mix Of Primarily Service, Food, Or Fitness Oriented Tenants Support A Synergistic Environment
- •Exceptional Exposure Off Of Us-98 (37,000 VPD) The Primary East-west Thoroughfare In The 30A Region
- •Affluent Market With Median Household Income Exceeding $75,000, Supporting Strong Retail Sales And Discretionary Spending
- •3% Annual Rent Escalations Across The Board Ensure Consistent NOI Growth Given NNN Lease Structure
Investment Overview
Marcus & Millichap is pleased to present 98 Central, a brand-new (2024) Class A strip retail investment located in Santa Rosa Beach, Florida, within the highly sought-after Beaches of Scenic Highway 30A market. The Property consists of two newly constructed retail buildings totaling 12,000 square feet and is 100% leased to a diverse, complementary tenant mix, delivering strong in-place cash flow in a high-barrier-to-entry coastal market . Strategically positioned along U.S. Highway 98, the area’s primary east–west thoroughfare, 98 Central benefits from approximately 37,000 vehicles per day, over 200 feet of frontage, and exceptional visibility and accessibility for both full-time residents and year-round tourists. The corridor serves as the main commercial spine supporting the 30A communities, reinforcing long-term tenant demand. All tenants operate under NNN lease structures with full CAM reimbursements, including management fees, ideal for a passive investor. Ownership exposure is limited to long-term capital items, which are deferred given 2024 construction, offering a low-maintenance investment profile. Additionally, 3% annual rent escalations across the rent roll provide consistent NOI growth and built-in inflation protection. Located within an affluent trade area, Santa Rosa Beach is characterized by strong household incomes, a rapidly growing permanent population, and substantial seasonal tourism, supporting discretionary retail, service, and fitness-oriented tenants. Ongoing residential and commercial development throughout South Walton County further enhances the long-term fundamentals of this core retail asset.
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