Renovated Medical Office
323 Page Bacon Road, Mary Esther, FL 32569
For Sale
New
$139,000
Commercial for Sale, Mary Esther, FL
Property Size1,000 SF
Lot Size0.02 Acres
Price / SF$139
Days on Market2
Property Features for 323 Page Bacon Road
General Information
Property type
Property subtype
Directions
Subdivision
Standard status
APN
Lot size
Additional Details
Property Use
Condition
Medical Specialty
Taxes and HOA fees
Tax Description
Legal Description
Listing Agency:
World Impact Real Estate
(850) 225-7000
Listed By:
Lisa Rosenthal · License FL #3202910
(850) 517-7728
Added: Nov 11
Last Checked: Nov 12 at 7:06AM
MLS# 1015316
Copyright © 2026 Emerald Coast Association of Realtors. All rights reserved. All information provided by the listing agent/broker is deemed reliable but is not guaranteed and should be independently verified.
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Investment Insights
Based on property information with market context.
This renovated medical office condominium in Park Place Plaza is currently arranged as an optometry practice. Optometric equipment, furnishings, inventory, and other practice assets may be acquired separately, subject to negotiation.
At 323 Page Bacon Road in Mary Esther, the suite faces the road and is across from the former Santa Rosa Mall.
At 323 Page Bacon Road in Mary Esther, the suite faces the road and is across from the former Santa Rosa Mall.
Key Highlights
- Recently renovated medical office condominium
- Current layout serves an optometry practice
- Road‑facing position at Park Place Plaza
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$11,277
Cap Rate
8.11%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$225,540
$225.5K
Cap Rate 7%
$161,100
$161.1K
Cap Rate 9%
$125,300
$125.3K
Market Conditions
NOI Build-Up for 1,000 SF
Gross rent
$21.0K $21.00/SF
− Vacancy
−$2.2K −$2.21/SF
EGI
$18.8K $18.80/SF
− OpEx
−$7.5K −$7.52/SF
NOI
$11.3K $11.28/SF
Area
Okaloosa County, FL
Vacancy
10.50%
Lease Rate
$21.00 /SF/Yr
Expense Ratio
40.00%
Simulate Cap Rate and NOI
Suggested Prices Based on Cap Rates
Cap Rate 5%
$225,540
Cap Rate 7%
$161,100
Cap Rate 9%
$125,300
Alternative Uses
Best Use
Office B
$184.5K
$161.4K – $215.3K
NOI $12,915 @ 7.0% cap · market cap 9.29%
Second Best
Healthcare Medical
$161.1K
$141.0K – $188.0K
NOI $11,277 @ 7.0% cap · market cap 8.11%
Theoretical Best
Specialty Retail
$385.4K
$337.2K – $449.6K
NOI $26,976 @ 7.0% cap · market cap 19.41%
Zoning and permitted uses should be independently verified with authorities.
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Current Use
Lease Details
1
Office units
Single-tenant
Tenancy
Yes
Paved road access
Location Intelligence
Trade Area within ½ mile
1,037
Businesses Nearby
Under-served
Demand for This Use
Explore this area
Business Placement
Demographics for 32569, FL
12,378
Population
5,795
Households
2.1
Avg Household Size
38
Median Age
40%
College-Educated
95%
High-School Grad
4.2 sq mi
ZIP Area
2,947
Density / Sq Mi
$73,762
Median Household Income
$43,832
Median Earnings
$1,456
Median Rent
$296,400
Median Home Value
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Market
Average Price Trend$/SF for Medical Office Space in Okaloosa County, FL
Properties on Market for Medical Office Space in Okaloosa County
Vacancy Rate% for Office in South region
Similar Off Market Nearby
- Emerald Coast Animal Hospital — 350 E Miracle Strip Pkwy, Mary Esther, FL 32569
- Dr. Jim Culotta — 350 E Miracle Strip Pkwy, Mary Esther, FL 32569
Frequently Asked Questions
What type of property is this?
Medical Office Space - The suite is presently arranged for optometry and sits in a road-facing position within Park Place Plaza.
Where is this medical office space located?
The property is located at 323 Page Bacon Road Mary Esther, FL.
What is the asking price?
The asking price for this property is $139,000.
What are key features of this property?
This property features: Recently renovated medical office condominium; Current layout serves an optometry practice; Road‑facing position at Park Place Plaza
