$9,600,000
Mary Esther, FL 32569
MLS# 1007838
1 / 66
Property Description
Power Center Site! Positioned directly along the high-traffic US Highway 98 corridor, this prominent 20+/- acre property presents a rare commercial acquisition, redevelopment, and adaptive-reuse opportunity in Mary Esther. Located adjacent to Target and Hampton Inn, the property offers exceptional visibility and convenient access to Fort Walton Beach, Hurlburt Field, surrounding, beaches, bays commercial and residential areas, and destinations throughout the Emerald Coast. The site includes developed existing school that was in operation in 2026. The buildings combined are approximately 53,186 square feet with existing improvements, offering potential for repurposing or integration into a larger redevelopment vision. With prime frontage along E. Miracle Strip Parkway ( US Hwy 98) and potential access extending to Hollywood Boulevard, the property provides the scale, exposure, and connectivity to accommodate a variety of future concepts. Currently zoned Public Use and adjoining C-1, C-2, and residential zoning, the site may offer potential for commercial power center, hospitality, multifamily, mixed-use, medical, senior-living, or other redevelopment opportunities, subject to rezoning and all applicable land-use regulations and governmental approvals. Creative site planning and evaluation of the property's developed and undeveloped acreage may provide additional opportunities to maximize the site's potential.
Details
Documents
Contract Info
GCCMLS Number: 45265780
Listing Board: Emerald Coast
List Date: 2026-07-16
List Price: $9,600,000
Location, Tax and Legal
Sub Area: 1204 - Mary Esther/East of Hurlburt
Property Name: Mary Esther Elementary
Legal Description: See Doc section for legal description
General Property Info
Listed on GCCMLS: Yes
Property Information: School demo for Power Center or Repurpose
Vacant: Yes
Lot SqFt: 892108
Immediate Occupancy: Yes
Lot Depth: 1250
Zoning: Public Lands
Lot Frontage: 654
Future Land Use: C-1 or C-2
Acreage: 20.48
Listing Info, Tax & Legal
As Is: Yes
Remarks & Misc
Remarks: Power Center Site! Positioned directly along the high-traffic US Highway 98 corridor, this
prominent 20+/- acre property presents a rare commercial acquisition, redevelopment, and
adaptive-reuse opportunity in Mary Esther. Located adjacent to Target and Hampton Inn, the
property offers exceptional visibility and convenient access to Fort Walton Beach, Hurlburt
Field, surrounding, beaches, bays commercial and residential areas, and destinations throughout
the Emerald Coast. The site includes developed existing school that was in operation in 2026.
The buildings combined are approximately 53,186 square feet with existing improvements,
offering potential for repurposing or integration into a larger redevelopment vision. With prime
frontage along E. Miracle Strip Parkway ( US Hwy 98) and potential access extending to
Hollywood Boulevard, the property provides the scale, exposure, and connectivity to
accommodate a variety of future concepts. Currently zoned Public Use and adjoining C-1, C-2,
and residential zoning, the site may offer potential for commercial power center, hospitality,
multifamily, mixed-use, medical, senior-living, or other redevelopment opportunities, subject to
rezoning and all applicable land-use regulations and governmental approvals. Creative site
planning and evaluation of the property's developed and undeveloped acreage may provide
additional opportunities to maximize the site's potential.
Class
Hotel/Motel: 1
Land: 1
Retail: 1
Other: 1
Construction Status
Existing: 1
Land
Property Type: Commercial
Retail
Year Built: 2008
Unit SqFt: 53186
Building SqFt: 4388
# of Units: 1
Hotel/Motel
Year Built: 1965
# of Rooms: 20
Other
Year Built: 1965
Building SqFt: 53586
# of Units: 1
None
Current Price: $9,600,000
Status Change Info
Status: Active
Location Tax and Legal
Area: 12 - Fort Walton Beach
Street #: 320
Street Direction: E
Street Name: Miracle Strip
Street Suffix: Parkway
State: FL
Zip Code: 32569
County: Okaloosa
Parcel ID: 16-2S-24-0000-0034-0000
Property Features
Class: Hotel/Motel; Land; Retail; Other
Construction Status: Existing
Supplements
Property will be conveyed subject to
deed restrictions prohibiting future use as a school. Bring your engineer and development paint
brush to Mary Esther, Ft Walton Beach area today!
Legal Description Listing Office: RE/MAX Agency One
Last Updated: July - 27 - 2026
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.
