$4,600,000
Shalimar, FL 32579
MLS# 939656
Status: Sold
1 / 1
Property Description
Shalimar Town Center encompasses a total area of 39,000+ square feet, maintaining a 100% lease occupancy and generating consistent income. With an impressive cap rate projection of 7%, the structure seamlessly integrates six buildings into a cohesive professional office center. Tenant highlights include full occupancy, with the exception of one space currently utilized as a maintenance staff office. The diverse tenant mix ensures stability and reliability in income generation. Strategically situated in Shalimar, FL, the prime real estate location is in close proximity to key destinations, including the Destin-Fort Walton Beach Airport (10 minutes), the vibrant city of Destin (14 miles), Eglin Air Force Base (5 miles), and Hurlburt Field Air Force Base (6 miles).
Details
Contract Info
GCCMLS Number: 30864664
Listing Board: Emerald Coast
List Date: 2024-01-05
List Price: $5,500,000
Location, Tax and Legal
Sub Area: 1210 - Shalimar
Property Name: Shalimar Town Center
Legal Description: PORT DIXIE LOTS 26 TO 28 INC BLK 119 PRO-RATA HX DUE TO RENTAL OF OTHER UNITS
General Property Info
Listed on GCCMLS: Yes
Description: Low-Rise Office Center
Property Information: Income Producing
Vacant: No
Immediate Occupancy: No
Acreage: 0.31
Listing Info, Tax & Legal
As Is: No
Remarks & Misc
Remarks: Shalimar Town Center encompasses a total area of 39,000+ square feet, maintaining a 100% lease occupancy and generating consistent income. With an impressive cap rate projection of 7%, the structure seamlessly integrates six buildings into a cohesive professional office center.
Tenant highlights include full occupancy, with the exception of one space currently utilized as a maintenance staff office. The diverse tenant mix ensures stability and reliability in income generation.
Strategically situated in Shalimar, FL, the prime real estate location is in close proximity to key destinations, including the Destin-Fort Walton Beach Airport (10 minutes), the vibrant city of Destin (14 miles), Eglin Air Force Base (5 miles), and Hurlburt Field Air Force Base (6 miles).
Class
Income Producing: 1
Office: 1
Construction Status
Existing: 1
Office
Property Type: Low Rise
# of Units: 29
Income Producing
Property Type: Office
None
Current Price: $4,600,000
Status Change Info
Status: Sold
Under Contract Date: 2024-02-28
Sold Date: 2024-04-04
Sold Price: $4,600,000
Location Tax and Legal
Area: 12 - Fort Walton Beach
Street #: 6
Street Name: 11Th
Street Suffix: Avenue
State: FL
Zip Code: 32579
County: Okaloosa
Parcel ID: 05-2S-23-2080-0119-0260
Property Features
Class: Income Producing; Office
Construction Status: Existing
Listing Office: LPT Realty LLC
Last Updated: February - 10 - 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.
