Crestview Medical Office Investment
710 Hospital Dr Crestview FL 32539, Crestview, FL 32539
- Added:
- Jan 23, 2025
- Days on Market:
- 529
- Last Refresh:
- Mar 16 at 9:06 am
Property Features for 710 Hospital Dr Crestview FL 32539
General Information
- Standard status
- Active
- Property type
- Medical Office Space, Medical centers, Medical space, Office Spaces, Healthcare properties
- Size
- 3,000 SF
- Class
- B
- Elevators
- N/A
Building Details
- Year Built
- 2007
Listing agent Terry (850) 249-2879
Listing office (850) 249-2879
Listing date Jan 23, 2025
Overview
This two-story medical office building, located in Crestview, Florida, offers an investment opportunity. The 3,000 square foot building currently houses Panhandle Orthopaedics and features multiple exam rooms and offices. A large breakroom and kitchen enhance staff comfort and functionality. The property is located off S Ferdon Blvd and adjacent to the North Okaloosa Medical Campus, providing access to patients and medical professionals. Its proximity to the North Okaloosa County Medical Center is a key advantage in a growing area with limited available office space. The location in Crestview makes this an attractive investment in a thriving healthcare market.
Local 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 | $63.0k | $21.00 |
| − Vacancy | −$11.3k | −$3.78 |
| EGI | $51.7k | $17.22 |
| − OpEx | −$12.9k | −$4.31 |
| NOI | $38.7k | $12.92 |
3,000 SF · lease $21.00/SF/yr · vacancy 18.00% · expense 25.00%
Alternative Uses
Best Use
Office B
$553.5K
$484.3K – $645.8K
NOI $38,745 @ 7.0% cap · market cap 5.38%
Second Best
Healthcare Medical
$483.3K
$422.9K – $563.9K
NOI $33,831 @ 7.0% cap · market cap 4.70%
Theoretical Best
Specialty Retail
$1.16M
$1.01M – $1.35M
NOI $80,927 @ 7.0% cap · market cap 11.25%
Zoning and permitted uses should be independently verified with local authorities.
Location Intelligence
Current Use by Public Records
Medical Office Space
Map
- City
- Crestview
- County
- Okaloosa
- State
- Florida
- Longitude
- -86.5389
- Latitude
- 30.7891
Nearby Similar for Sale
FAQs
What type of property is this?
Medical Office Space - Two-story medical office building
Where is this medical office space located?
The property is located at 710 Hospital Dr Crestview FL 32539 Crestview, FL.
What is the asking price?
The asking price for this property is $719,500.
