Bluewater Bay Retail/Office
For Lease
$15 SF/Yr
4506-4546 HWY 20 E & 1501 Merchants Way, Niceville, FL 32578
Retail, restaurant, and office spaces available in Niceville, Florida.
Space Size1,200 SF - 4,349 SF
Property Size105,599 SF
Days on Market328
Property Features for 4506-4546 HWY 20 E & 1501 Merchants Way
General Information
Standard status
Active
Size
1,200 SF - 4,349 SF
Property subtype
Grocery Anchored Shopping Center & Office Complex
Lease Term
NNN
Building Details
Building Size
105,599 SF
Spaces For Lease
at 4506-4546 HWY 20 E & 1501 Merchants Way Contact usSuite 4540
Size
4,349 SF
Type
Office Building
Term
Negotiable
Rate
Contact for pricing
Suite 1507 $22/SF/Yr
Size
4,000 SF
Type
Office Building
Term
Negotiable
Suite 4506-250 $15/SF/Yr
Size
1,918 SF
Type
Office Building
Term
Negotiable
Suite 4508 $26/SF/Yr
Size
1,200 SF
Type
Strip Center
Term
Negotiable
Suite 4536 $22/SF/Yr
Size
4,000 SF
Type
Medical
Term
Negotiable
Show more
Listing Agency:
Bellcore Commercial
Listed By:
Harry Bell Jr. · License #FL #BK3026917
(850) 240-0527
Source:
Bellcorecommercial
Added: Nov 21, 2025
Changed: Oct 10
Last Checked: Oct 14 at 9:15PM
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 Bellcore Commercial
Investment Insights
Based on property information with market context.
Located in the Winn-Dixie anchored shopping center in Bluewater Bay, this property offers prime retail, restaurant, and office space. The Bluewater Bay shopping center features over 105,599 square feet of retail, restaurant, and office space. Situated in the desirable Niceville trade area, the location provides excellent visibility from Highway 20, the main arterial in Niceville, which experiences high traffic counts of over 28,500 vehicles per day. Ample parking and pylon signage are available. The landlord is willing to consider subdividing the spaces. The center is located in the heart of the Bluewater Bay market in Niceville, Florida, benefiting from the area's strong housing market and economy. This is due to its proximity to one of the world's largest air force bases, the hospital, Northwest Florida College, highly-rated schools, the Destin/Ft Walton airport, and numerous new developments. Restaurant space is available up to 2,500 square feet, with office/retail spaces ranging from 1,200 to 2,500 square feet. The average household income within a 5-mile radius exceeds $103,015.
Key Highlights
- Winn‑Dixie anchored shopping center in a desirable location.
- High traffic counts (over 28,500 VPD) and excellent visibility from Hwy 20.
- Located in the heart of the Bluewater Bay market within the highly desirable Niceville trade area.
Property Analytics
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Current Use
Lease Details
NNN (Triple Net)
Lease Type
$2.25 /SF/Yr
CAM
Location Intelligence
Trade Area within ½ mile
467
Businesses Nearby
Under-served
Demand for This Use
Explore this area
Business Placement
Demographics for 32578, FL
35,075
Population
14,578
Households
2.4
Avg Household Size
42
Median Age
45%
College-Educated
97%
High-School Grad
23.2 sq mi
ZIP Area
1,512
Density / Sq Mi
$105,858
Median Household Income
$52,028
Median Earnings
$1,744
Median Rent
$414,900
Median Home Value
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Market
Vacancy Rate% for Office in South region
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Frequently Asked Questions
What type of property is this?
Shopping center - Retail, restaurant, and office spaces available in Niceville, Florida.
Where is this shopping center located?
The property is located at 4506-4546 HWY 20 E & 1501 Merchants Way Niceville, FL.
What is the lease rate?
The lease rate is $15 SF/Yr.
What are key features of this property?
This property features: Winn‑Dixie anchored shopping center in a desirable location.; High traffic counts (over 28,500 VPD) and excellent visibility from Hwy 20.; Located in the heart of the Bluewater Bay market within the highly desirable Niceville trade area.
