Remodeled Office Condo
For Sale
Contact for pricing
1217 Airport Rd, Destin, FL 32541
Recently remodeled 1,312 SF office condominium with an existing tenant lease in place through May 2026.
Property Size1,312 SF
Price / SF$209.60
Days on Market258
Property Features for 1217 Airport Rd
General Information
Standard status
Active
Size
1,312 SF
Property subtype
OFFICE
Site & Location
Highway Access
Yes
Road Access
Yes
Building Details
Year Built
1999
Tenancy
Single
Owner Occupied
No
Listing Agency:
NAI TALCOR | Tallahassee
(850) 224-2300
Listed By:
Patrick Jones
(850) 814-5878
Source:
Moodyscre
Added: Feb 3
Changed: Oct 15
Last Checked: Oct 19 at 8:57AM
Displayed information is deemed reliable but is not guaranteed and should be independently verified. All listing content including descriptions, pricing, images are the copyrighted material of NAI TALCOR | Tallahassee
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Investment Insights
Based on property information with market context.
This +/-1,312 SF commercial office condominium is located within a well-maintained professional office setting and built in 1999. The suite has been recently remodeled and is currently occupied by a regional staffing company, with the existing lease extending through May 2026.
The property is situated on Airport Road, with close proximity to US-98, Destin’s primary east–west corridor. The surrounding area includes a dense mix of professional offices, medical users, retail, and hospitality, supporting consistent daytime activity in a centralized, easily accessible location.
The offering combines a functional office layout with an in-place tenant, positioned within a submarket described as having limited supply of small-format office space.
The property is situated on Airport Road, with close proximity to US-98, Destin’s primary east–west corridor. The surrounding area includes a dense mix of professional offices, medical users, retail, and hospitality, supporting consistent daytime activity in a centralized, easily accessible location.
The offering combines a functional office layout with an in-place tenant, positioned within a submarket described as having limited supply of small-format office space.
Key Highlights
- +/-1,312 SF office condominium in a professional office setting
- Recently remodeled suite
- Tenant in place with lease extending through May 2026
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$16,944
Cap Rate
6.16%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$338,880
$338.9K
Cap Rate 7%
$242,057
$242.1K
Cap Rate 9%
$188,267
$188.3K
Market Conditions
NOI Build-Up for 1,312 SF
Gross rent
$27.6K $21.00/SF
− Vacancy
−$5.0K −$3.78/SF
EGI
$22.6K $17.22/SF
− OpEx
−$5.6K −$4.31/SF
NOI
$16.9K $12.92/SF
Area
Okaloosa County, FL
Vacancy
18.00%
Lease Rate
$21.00 /SF/Yr
Expense Ratio
25.00%
Simulate Cap Rate and NOI
Suggested Prices Based on Cap Rates
Cap Rate 5%
$338,880
Cap Rate 7%
$242,057
Cap Rate 9%
$188,267
Alternative Uses
Best Use
Office B
$242.1K
$211.8K – $282.4K
NOI $16,944 @ 7.0% cap · market cap 6.16%
Second Best
—
—
no second resolved use
Theoretical Best
Specialty Retail
$505.6K
$442.4K – $589.9K
NOI $35,392 @ 7.0% cap · market cap 12.87%
Zoning and permitted uses should be independently verified with authorities.
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Property Analytics
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Open Analytics
Current Use
Lease Details
Single-tenant
Tenancy
Yes
Highway access
Yes
Paved road access
Location Intelligence
Trade Area within ½ mile
761
Businesses Nearby
Explore this area
Business Placement
Demographics for 32541, FL
18,419
Population
16,390
Households
1.1
Avg Household Size
45
Median Age
48%
College-Educated
95%
High-School Grad
12.6 sq mi
ZIP Area
1,462
Density / Sq Mi
$93,004
Median Household Income
$47,991
Median Earnings
$1,976
Median Rent
$498,600
Median Home Value
Check the figures for this property
Cap Rate, Value Estimation, Potential NOI and more
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Market
Vacancy Rate% for Office in South region
Frequently Asked Questions
What type of property is this?
Office unit - Recently remodeled 1,312 SF office condominium with an existing tenant lease in place through May 2026.
Where is this office unit located?
The property is located at 1217 Airport Rd Destin, FL.
What is the asking price?
The asking price for this property is $275,000.
What are key features of this property?
This property features: +/-1,312 SF office condominium in a professional office setting; Recently remodeled suite; Tenant in place with lease extending through May 2026
