85,813 SqFt
85,813 SqFt
Key Details
Property Type Commercial
Listing Status Active
Purchase Type For Sale
Square Footage 85,813 sqft
Price per Sqft $68
MLS Listing ID 1013035
Lot Size 1.970 Acres
Acres 1.97
Lot Dimensions see attached
Source Emerald Coast Association of REALTORS®
Property Description
An exceptional opportunity to acquire a fully occupied, income-producing medical office complex in Crestview, Florida. This approximately 15,000-square-foot property consists of three separate medical office suites, each approximately 5,000 square feet, occupied by established healthcare-related tenants with long-term lease commitments.
With approximately $331,541 in annual Net Operating Income (NOI) and an estimated 5.62% capitalization rate at the $5.9 million asking price, this investment offers an established income stream from day one. The property features a triple-net (NNN) lease structure, contractual rental increases, and limited landlord operating responsibilities, creating an attractive ownership profile for investors seeking a stabilized commercial real estate asset. Unlike properties requiring significant lease-up, tenant improvements, or the uncertainty of establishing occupancy, this medical office complex offers the advantage of existing tenants, executed leases, and ongoing rental income. Its three-suite configuration provides an established healthcare-oriented tenant base within a single investment property.
Strategically located less than one mile from the local hospital, the property offers convenient access to Interstate 10, Crestview Commons, and major commercial corridors. Crestview serves as an important healthcare and commercial center in Northwest Florida, providing access to surrounding communities and the broader regional market.
The combination of full occupancy, established healthcare-related tenancy, contractual rental growth, and a defined income profile makes this property worthy of consideration by private investors, commercial real estate investment groups, medical office investors, and buyers evaluating 1031 exchange opportunities.
This is more than an opportunity to purchase commercial real estate. It is an opportunity to acquire an established medical office investment with tenants, leases, and income already in place in a strategically positioned Northwest Florida market.
Location
State FL
County Okaloosa
Area 25 - Crestview Area
Zoning Professional
Direction Heading North on 85 turn left on Redstone Avenue. Property is behind North Okaloosa Surgery Center-West on Redstone Avenue.
Exterior
Garage No
Building
Faces Heading North on 85 turn left on Redstone Avenue. Property is behind North Okaloosa Surgery Center-West on Redstone Avenue.
New Construction No
Others
Pets Allowed No
Tax ID 29-3N-23-0440-0300-0010
Special Listing Condition Real Estate Owned
Nearby Locations
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