Remodeled Office Condo
1223 Airport Rd Destin, FL 32541
For Sale
Contact for pricing
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 Market177
Property Features for 1223 Airport Rd
General Information
Standard status
Active
Size
1,312 SF
Property subtype
OFFICE
Listing Agency:
NAI TALCOR | Tallahassee
(850) 814-5878
Listed By:
Patrick Jones · License ##SL3513905
(850) 814-5878
Source:
Moodyscre
Added: Feb 3
Changed: Jul 29
Last Checked: Jul 29 at 8:03AM
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
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 For Office B
Simulate Cap Rate and NOI
NOI Build-Up
- Vacancy
- income lost from leasable area expected to sit empty during the year — subtracted from gross rent.
- EGI (Effective Gross Income)
- gross rent minus vacancy losses — the realistic income before paying operating costs.
- OpEx (Operating Expenses)
- recurring costs to operate the property (property tax, insurance, utilities, maintenance, management) — excludes financing and capital improvements.
- NOI (Net Operating Income)
- income a property generates after operating costs but before financing and taxes.
| Component | $ | $/SF |
|---|---|---|
| Gross rent | $27.6k | $21.00 |
| − Vacancy | −$5.5k | −$4.20 |
| EGI | $22.0k | $16.80 |
| − OpEx | −$5.5k | −$4.20 |
| NOI | $16.5k | $12.60 |
1,312 SF · lease $21.00/SF/yr · vacancy 20.00% · expense 25.00%
Alternative Uses
Best Use
Office B
$236.2K
$206.6K – $275.5K
NOI $16,531 @ 7.0% cap · market cap 6.01%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$329.9K
$288.7K – $384.9K
NOI $23,096 @ 7.0% cap · market cap 8.40%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Location Intelligence
Current Use
Frequently Asked Questions
What type of property is this?
Office units - Recently remodeled 1,312 SF office condominium with an existing tenant lease in place through May 2026.
Where is this office units located?
The property is located at 1223 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
