Seven-Office Unit
For Sale
$335,000
4507 Furling Lane #205 & 206, Destin, FL 32541
A second-floor workspace combines two units with reception, restrooms, a kitchen area, and storage.
Property Size2,300 SF
Price / SF$145.65
Days on Market487
Property Features for 4507 Furling Lane #205 & 206
General Information
Standard status
Active
Size
2,300 SF
Property subtype
Commercial
Site & Location
Highway Access
Yes
Road Access
Yes
Additional Details
Floor
2
Property Use
Office
Listing Agency:
Taylor Allen Properties LLC
(850) 259-2894
Listed By:
Brett D Stuart · License #678851
(850) 865-9123
Source:
Emeraldgulfrealty
Added: Jun 25, 2025
Changed: Oct 23
Last Checked: Oct 23 at 5:22PM
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 Taylor Allen Properties LLC
Ask AI about this property
Review the available facts, identify missing information and prepare questions for the agent.
Investment Insights
Based on property information with market context.
Located on the second floor of a mixed-use condominium, this 2,300-square-foot office suite combines two units into one workspace. Its layout includes seven offices, a large reception area, two restrooms, a small kitchen, and additional storage.
The property is in East Destin along Highway 98, with on-site parking in both front and rear lots and signage.
The property is in East Destin along Highway 98, with on-site parking in both front and rear lots and signage.
Key Highlights
- 2,300 SF configured from two units
- Seven offices, a large reception area, two restrooms, a small kitchen, and storage
- Second‑floor space in a mixed‑use condominium
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$29,705
Cap Rate
8.87%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$594,100
$594.1K
Cap Rate 7%
$424,357
$424.4K
Cap Rate 9%
$330,056
$330.1K
Market Conditions
NOI Build-Up for 2,300 SF
Gross rent
$48.3K $21.00/SF
− Vacancy
−$8.7K −$3.78/SF
EGI
$39.6K $17.22/SF
− OpEx
−$9.9K −$4.31/SF
NOI
$29.7K $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%
$594,100
Cap Rate 7%
$424,357
Cap Rate 9%
$330,056
Alternative Uses
Best Use
Office B
$424.4K
$371.3K – $495.1K
NOI $29,705 @ 7.0% cap · market cap 8.87%
Second Best
—
—
no second resolved use
Theoretical Best
Specialty Retail
$886.3K
$775.6K – $1.03M
NOI $62,044 @ 7.0% cap · market cap 18.52%
Zoning and permitted uses should be independently verified with authorities.
How Realmo checks its estimates
Property Analytics
Current Use
Lease Details
Yes
Highway access
Yes
Paved road access
Location Intelligence
Trade Area within ½ mile
1,212
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
Market
Vacancy Rate% for Office in South region
Frequently Asked Questions
What type of property is this?
Office unit - A second-floor workspace combines two units with reception, restrooms, a kitchen area, and storage.
Where is this office unit located?
The property is located at 4507 Furling Lane #205 & 206 Destin, FL.
What is the asking price?
The asking price for this property is $335,000.
What are key features of this property?
This property features: 2,300 SF configured from two units; Seven offices, a large reception area, two restrooms, a small kitchen, and storage; Second‑floor space in a mixed‑use condominium
