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$ 275,000
Est. payment | /mo
1,312 SqFt
$ 275,000
Est. payment | /mo
1,312 SqFt
Key Details
Property Type Commercial
Listing Status Active
Purchase Type For Sale
Square Footage 1,312 sqft
Price per Sqft $209
Subdivision No Named Subdivision
MLS Listing ID 784415
HOA Y/N No
Year Built 1999
Lot Size 2.080 Acres
Acres 2.08
Property Description
Situated in the heart of Destin's established business corridor, this +/-1,312SF commercial office condominium offers an opportunity to acquire an income-producing asset with strong fundamentals and long-term demand drivers. The property is recently remodeled and currently occupied by a regional staffing company, providing immediate cash flow in a well-located, professionally managed office environment.
The suite benefits from excellent accessibility via Airport Road and close proximity to US-98, Destin's primary east-west artery. The surrounding area features a dense mix of professional offices, medical users, retail, and hospitality, creating consistent daytime traffic and sustained tenant demand. Destin maintains a limited inventory of small-format office product, supporting stable occupancy and competitive lease rates for well-positioned suites.
The property delivers an 8.37% cap rate with pricing of $210 per square foot, positioning the asset well below replacement cost. The existing lease extends through May 2026, providing near-term income with flexibility for renewal, rent growth, or potential owner-user conversion.
For investors seeking durable cash flow as well as future owner-users, this office condominium combines a strong location, functional layout, and attractive basis in one of Northwest Florida's most active coastal markets. Continued commercial activity, steady tourism-driven business demand, and constrained new office development support long-term stability and liquidity for this asset.
1,312 SF Office Condo | Built 1999
Recently Remodeled Suite
Tenant in Place Through May 2026
Prime Airport Road Location with Easy Access to US-98
8.37% In-Place Cap Rate based on 2025 net income of $23,009.84
Income asset, priced below replacement cost
Strong Area Demand with Limited New Office Supply
The suite benefits from excellent accessibility via Airport Road and close proximity to US-98, Destin's primary east-west artery. The surrounding area features a dense mix of professional offices, medical users, retail, and hospitality, creating consistent daytime traffic and sustained tenant demand. Destin maintains a limited inventory of small-format office product, supporting stable occupancy and competitive lease rates for well-positioned suites.
The property delivers an 8.37% cap rate with pricing of $210 per square foot, positioning the asset well below replacement cost. The existing lease extends through May 2026, providing near-term income with flexibility for renewal, rent growth, or potential owner-user conversion.
For investors seeking durable cash flow as well as future owner-users, this office condominium combines a strong location, functional layout, and attractive basis in one of Northwest Florida's most active coastal markets. Continued commercial activity, steady tourism-driven business demand, and constrained new office development support long-term stability and liquidity for this asset.
1,312 SF Office Condo | Built 1999
Recently Remodeled Suite
Tenant in Place Through May 2026
Prime Airport Road Location with Easy Access to US-98
8.37% In-Place Cap Rate based on 2025 net income of $23,009.84
Income asset, priced below replacement cost
Strong Area Demand with Limited New Office Supply
Location
State FL
County Okaloosa
Area 17 - Okaloosa
Interior
Fireplace No
Exterior
Private Pool No
Building
Story 1
Entry Level One
Level or Stories One
Others
Tax ID 00-2S-22-0021-0000-0419
Listed by NAI TALCOR
"My job is to find and attract mastery-based agents to the office, protect the culture, and make sure everyone is happy! "
755b Grand Blvd 105286, Miramar Beach, Florida, 32550, USA