Freestanding Medical Office
For Sale
$2,200,000
577 Brookmeade Dr, Crestview, FL 32539
Purpose-built outpatient facility with specialized treatment improvements, aquatic therapy, and separate utility metering.
Property Size10,200 SF
Lot Size1.00 Acre
Price / SF$215.69
Days on Market88
Property Features for 577 Brookmeade Dr
General Information
Standard status
Active
Size
10,200 SF
Total Parking Spaces
40
Lot size
1.00 Acre
Property subtype
Commercial
Zoning
mixed use
Additional Details
Utilities to Site
Yes
Office Units
2
Amenities
medical-grade plumbing
aquatic therapy pool
treatment build-out
ADA-compliant restrooms
dual-meter utility separation
ongoing maintenance program
Building Details
Year Renovated
2015
Buildings
1
Building Size
10,200 SF
Construction
steel frame
Listing Agency:
Dalton Wade Inc
Listed By:
Todd Siegrist · License #3398226
(407) 900-1001
Source:
J30a
Added: Jul 20
Changed: Oct 1
Last Checked: Oct 14 at 11:28PM
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 Dalton Wade Inc
Investment Insights
Based on property information with market context.
This 10,200 SF freestanding medical office property occupies a 1-acre corner site in Crestview and is configured for outpatient healthcare use. The building includes a 6,800 SF primary suite and a 3,400 SF companion suite, with medical-grade plumbing, treatment areas, an aquatic therapy pool, ADA-compliant restrooms, dual-meter utility separation, and 40 parking spaces. Steel-frame construction and a 2015 remodel are complemented by an ongoing maintenance program.
The property is located directly across the street from North Okaloosa Medical Center and within Crestview city limits. The primary suite is leased through May 2028, while the companion suite is available to a new owner within 90 days of closing under existing lease terms. Additional surrounding context includes Williams International’s advanced aviation campus under construction 7 minutes north, 6,387 approved and under-construction residential units, and a 78,000+ population within a 30-minute drive. Eglin AFB contributes to year-round healthcare demand in the broader area.
The property is located directly across the street from North Okaloosa Medical Center and within Crestview city limits. The primary suite is leased through May 2028, while the companion suite is available to a new owner within 90 days of closing under existing lease terms. Additional surrounding context includes Williams International’s advanced aviation campus under construction 7 minutes north, 6,387 approved and under-construction residential units, and a 78,000+ population within a 30-minute drive. Eglin AFB contributes to year-round healthcare demand in the broader area.
Key Highlights
- 10,200 SF freestanding medical building on a 1‑acre corner site
- Located directly across the street from North Okaloosa Medical Center
- 6,800 SF primary suite leased through May 2028
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$131,733
Cap Rate
5.99%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$2,634,660
$2.6M
Cap Rate 7%
$1,881,900
$1.9M
Cap Rate 9%
$1,463,700
$1.5M
Market Conditions
NOI Build-Up for 10,200 SF
Gross rent
$214.2K $21.00/SF
− Vacancy
−$38.6K −$3.78/SF
EGI
$175.6K $17.22/SF
− OpEx
−$43.9K −$4.31/SF
NOI
$131.7K $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%
$2,634,660
Cap Rate 7%
$1,881,900
Cap Rate 9%
$1,463,700
Alternative Uses
Best Use
Office B
$1.88M
$1.65M – $2.20M
NOI $131,733 @ 7.0% cap · market cap 5.99%
Second Best
Healthcare Medical
$1.64M
$1.44M – $1.92M
NOI $115,025 @ 7.0% cap · market cap 5.23%
Theoretical Best
Specialty Retail
$3.93M
$3.44M – $4.59M
NOI $275,152 @ 7.0% cap · market cap 12.51%
Zoning and permitted uses should be independently verified with authorities.
How Realmo checks its estimates
Property Analytics
Unlock full access to Insights
Subscribe to Realmo Intelligence
Open Analytics
Current Use
Lease Details
2
Office units
Yes
Utilities to site
Location Intelligence
Trade Area within ½ mile
804
Businesses Nearby
Under-served
Demand for This Use
Explore this area
Business Placement
Demographics for 32539, FL
31,749
Population
12,642
Households
2.5
Avg Household Size
37
Median Age
24%
College-Educated
93%
High-School Grad
127.9 sq mi
ZIP Area
248
Density / Sq Mi
$72,521
Median Household Income
$40,064
Median Earnings
$1,323
Median Rent
$272,300
Median Home Value
Check the figures for this property
Cap Rate, Value Estimation, Potential NOI and more
View Realmo Analytics
Market
Vacancy Rate% for Office in South region
Questions? Ask Rey
Realmo’s AI knows this listing — price, zoning, demand, history. Ask anything.
Frequently Asked Questions
What type of property is this?
Medical Office Space - Purpose-built outpatient facility with specialized treatment improvements, aquatic therapy, and separate utility metering.
Where is this medical office space located?
The property is located at 577 Brookmeade Dr Crestview, FL.
What is the asking price?
The asking price for this property is $2,200,000.
What are key features of this property?
This property features: 10,200 SF freestanding medical building on a 1‑acre corner site; Located directly across the street from North Okaloosa Medical Center; 6,800 SF primary suite leased through May 2028
