Live the Gulf Life on Florida’s Emerald Coast

732 Scenic Gulf Drive UNIT B401

Miramar Beach, FL 32550

MLS#: 1006177

$459,000

Status: Active
Listing number: 1006177
Listing provided by: RealJoy Realty LLC
Listing agent phone: None
Last update: 8 days ago
On site: 2 months ago
Browse Properties
ALERIO - Residential

Property

Beds

3

Full Baths

2

1/2 Baths

None

Year Built

2015

Sq.Footage

1,324

PENTHOUSE-LEVEL LUXURY WITH GULF VIEWS, PRIVATE PARKING AND PRIVATE BEACH ACCESS- THE BEST VALUE IN ALERIO! Welcome to one of the most compelling opportunities on the Emerald Coast. Perched on the coveted top floor of the highly sought-after Alerio community, this stunning penthouse-level corner residence offers breathtaking Gulf views, exceptional privacy, and an unbeatable location directly across from the sugar-white sands of Miramar Beach. Currently the most aggressively priced 3-bedroom Gulf-view condominium in Alerio, this is your chance to secure a premier beach retreat, income-producing vacation rental, or second home at an exceptional value. Step inside and discover a beautifully appointed coastal sanctuary featuring soaring 10-foot ceilings, elegant crown molding, rich wood flooring throughout the living areas, granite countertops, stainless steel appliances, and a spacious open-concept design created for effortless entertaining. The private balcony serves as the perfect backdrop for morning coffee, sunset cocktails, and endless Gulf breezes. This highly desirable top-floor corner unit enjoys a rare level of privacy with no neighbors above and only one adjoining unit--an uncommon luxury in condominium living. Offered fully furnished and completely turnkey, this residence is ready to begin generating rental income or welcoming guests from day one. Beyond your front door, the gated and fenced Alerio community provides resort-style amenities including a spectacular heated swimming pool with waterfall features, an oversized hot tub, outdoor grilling stations, deeded owner parking, and additional owner-exclusive parking. The gated setting also provides added peace of mind for both owners and vacation guests. Location is everything, and Alerio delivers. Enjoy private beach access just steps away, stroll to local favorites including Whale's Tail, Surf Hut, and Cabana Café, or spend the afternoon shopping at Silver Sands Premium Outlets just minutes from your door. Grand Boulevard, championship golf, entertainment, and the Village of Baytowne Wharf are all within easy reach. Highlights Include: " Penthouse-Level Top Floor Corner Residence " Spectacular Gulf Views & Private Balcony " Directly Across the Street from Beach Access " Fully Furnished & Turnkey Ready " No Neighbors Above & Only One Shared Wall " Heated Resort-Style Pool & Hot Tub with Waterfalls " Gated Community with Added Security " Strong Vacation Rental Potential " Minutes from Dining, Shopping & Entertainment Luxury, location, privacy, and value rarely align this perfectly. Opportunities like this don't stay available for long.

Features & Amenities

Interior

  • Other Interior Features

    Crown Molding, Vaulted Ceiling(s), Pantry

  • Total Bedrooms

    3

  • Bathrooms

    2

  • Cooling YN

    YES

  • Cooling

    Central Air, Ceiling Fan(s), Electric

  • Pet friendly

    N/A

Exterior

  • Garage

    No

  • Construction Materials

    Stucco

  • Other Exterior Features

    Balcony

  • Patio and Porch Features

    Porch, Patio

  • Pool

    No

Area & Lot

  • Property Type

    Residential

  • Property Sub Type

    Condominium

  • Architectural Style

    N/A

Price

  • Sales Price

    $459,000

  • Tax Amount

    $3,826.56

  • Sq. Footage

    1,324

  • Price/SqFt

    $346

HOA

  • Association

    YES

  • Association Fee

    $2,950

  • Association Fee Frequency

    Quarterly

  • Association Fee Includes

    N/A

School District

  • Elementary School

    Van R Butler

  • Middle School

    Emerald Coast

  • High School

    South Walton

Property Features

  • New Construction

    NO

  • Sewer

    Public Sewer

  • Water Source

    Public

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Location

County

Walton

Elementary School

Van R Butler

Middle School

Emerald Coast

High School

South Walton

Listing Courtesy of Kyle V Hock, RealJoy Realty LLC

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REALTOR®

Nate Shand

Call Nate today to schedule a private showing.

(850) 238-7899

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PENTHOUSE-LEVEL LUXURY WITH GULF VIEWS, PRIVATE PARKING AND PRIVATE BEACH ACCESS- THE BEST VALUE IN ALERIO! Welcome to one of the most compelling opportunities on the Emerald Coast. Perched on the coveted top floor of the highly sought-after Alerio community, this stunning penthouse-level corner residence offers breathtaking Gulf views, exceptional privacy, and an unbeatable location directly across from the sugar-white sands of Miramar Beach. Currently the most aggressively priced 3-bedroom Gulf-view condominium in Alerio, this is your chance to secure a premier beach retreat, income-producing vacation rental, or second home at an exceptional value. Step inside and discover a beautifully appointed coastal sanctuary featuring soaring 10-foot ceilings, elegant crown molding, rich wood flooring throughout the living areas, granite countertops, stainless steel appliances, and a spacious open-concept design created for effortless entertaining. The private balcony serves as the perfect backdrop for morning coffee, sunset cocktails, and endless Gulf breezes. This highly desirable top-floor corner unit enjoys a rare level of privacy with no neighbors above and only one adjoining unit--an uncommon luxury in condominium living. Offered fully furnished and completely turnkey, this residence is ready to begin generating rental income or welcoming guests from day one. Beyond your front door, the gated and fenced Alerio community provides resort-style amenities including a spectacular heated swimming pool with waterfall features, an oversized hot tub, outdoor grilling stations, deeded owner parking, and additional owner-exclusive parking. The gated setting also provides added peace of mind for both owners and vacation guests. Location is everything, and Alerio delivers. Enjoy private beach access just steps away, stroll to local favorites including Whale's Tail, Surf Hut, and Cabana Café, or spend the afternoon shopping at Silver Sands Premium Outlets just minutes from your door. Grand Boulevard, championship golf, entertainment, and the Village of Baytowne Wharf are all within easy reach. Highlights Include: " Penthouse-Level Top Floor Corner Residence " Spectacular Gulf Views & Private Balcony " Directly Across the Street from Beach Access " Fully Furnished & Turnkey Ready " No Neighbors Above & Only One Shared Wall " Heated Resort-Style Pool & Hot Tub with Waterfalls " Gated Community with Added Security " Strong Vacation Rental Potential " Minutes from Dining, Shopping & Entertainment Luxury, location, privacy, and value rarely align this perfectly. Opportunities like this don't stay available for long.

732 Scenic Gulf Drive UNIT B401

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Data predates the 2025-2026 season; request an updated statement from the rental program for the most current figures. " Seller confirms these net figures are already after sales/bed tax remittance (~20% of gross). Estimated gross rental revenue: ~$41,000-$54,000/year, averaging ~$45,900/year across the three years. " Self-management caveat: the seller books and manages the rental themselves -- no third-party management commission has been deducted from the net figures above. A buyer who intends to self-manage can reasonably expect similar economics. A buyer who plans to hire a property manager should underwrite a further reduction for that management fee, since this seller simply didn't pay one. " Documented annual carrying costs: Seascape Master Association $943.77/quarter + COA Phase 3 $1,394.23/quarter ($9,352/year combined), property taxes $3,055.42/year (2024), electricity ~$1,800/year. Total operating expenses: $14,207.42/year. " Bottom line for underwriting, confirmed directly with the seller: net rental income does not yet have HOA dues, property taxes, or electricity deducted -- the owner pays those separately out of pocket after collecting rental income. True owner profit nets the two figures against each other: average ~$22,500/year, or ~5.8% unlevered yield on the current $389,900 ask. This is a confirmed number, not an inference -- safe to use directly with a buyer's agent. " Seller is motivated and open to a fast, clean closing timeline " Buyer's agent commission: 2.5% co-op, confirmed Buyer Persona -- Who This Property Actually Wins This unit is not well positioned to compete for the lifestyle buyer cross-shopping against Seascape's nicest, most-updated inventory -- it will lose that comparison on finish level alone. 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" This development is currently a buyer's market (~7 months of supply); this unit is priced meaningfully below the pack, a real argument for a value-driven buyer.
#969085

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