$3,399,500
Destin, FL 32541
MLS# 969488
1 / 66
Property Description
7.5% CAP RATE on this 2 story CLASS A, FULLY LEASED Medical/Professional office building located in the heart of Destin! Its prime corner location w/a traffic light, provides easy accessibility & significant visibility from the 60,000+ vehicles passing daily along Hwy 98. The corner site also contains a highly visible large marquee sign. Strategically located less than a mile from The Destin Commons, Whole Foods, restaurants & businesses, this professional Office building is fully leased & generated $381,877 annual income in 2025. High quality finishes & architectural appeal accent this 15,000+ SF Class A office space. With 255K estimated 2026 NOI and 7.5% estimated CAP., this opportunity won't last long. The month to month Tenant could vacate if Buyer wants to occupy a potion of the building. Inquire to schedule a private showing.
Details
Documents
Contract Info
GCCMLS Number: 41991440
Listing Board: Emerald Coast
List Date: 2025-02-25
List Price: $3,399,500
Location, Tax and Legal
Sub Area: 1404 - Destin Beach East
Legal Description: SUNSAIL PLAZA S/D LOT 1
General Property Info
Listed on GCCMLS: Yes
Vacant: No
Immediate Occupancy: No
Lot Depth: 250
Lot Frontage: 100
Acreage: 1.1
Listing Info, Tax & Legal
As Is: Yes
Remarks & Misc
Remarks: 7.5% CAP RATE on this 2 story CLASS A, FULLY LEASED Medical/Professional office building located in the heart of Destin! Its prime corner location w/a traffic light, provides easy accessibility & significant visibility from the 60,000+ vehicles passing daily along Hwy 98. The corner site also contains a highly visible large marquee sign. Strategically located less than a mile from The Destin Commons, Whole Foods, restaurants & businesses, this professional Office building is fully leased & generated $381,877 annual income in 2025. High quality finishes & architectural appeal accent this 15,000+ SF Class A office space. With 255K estimated 2026 NOI and 7.5% estimated CAP., this opportunity won't last long. The month to month Tenant could vacate if Buyer wants to occupy a potion of the building. Inquire to schedule a private showing.
Class
Income Producing: 1
Office: 1
Construction Status
Existing: 1
Office
Year Built: 2005
Building SqFt: 15352
Actual Gross Income: 347840
Net Operating Income: 234695
# of Units: 4
Income Producing
Year Built: 2005
Building SqFt: 15352
Annual Gross Income: 347840
Cap Rate: 5.56
Property Type: Office
None
Current Price: $3,399,500
Status Change Info
Status: Active
Location Tax and Legal
Area: 14 - Destin
Street #: 4635
Street Name: Gulfstarr
Street Suffix: Drive
State: FL
Zip Code: 32541
County: Okaloosa
Parcel ID: 00-2S-22-2380-0000-0010
Property Features
Class: Income Producing; Office
Construction Status: Existing
ROI Analysis Listing Office: RE/MAX Coastal Properties
Last Updated: July - 31 - 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.
