4635 Gulfstarr Drive, Destin, FL 32541 (MLS# 969488)

4635 Gulfstarr Drive, Destin, FL 32541

$3,399,500

Property Type: Commercial for Sale Lot Size (sq. ft.): 47,916 Status: Active

Current Price: $3,399,500 List Date: 4/10/2025 Last Modified: 7/31/2026

Overview

Description

7.5% CAP RATE on this 2 story CLASS A, FULLY LEASED Medical/Professional office building located in the heart of Destin! Its prime corner location w/a traffic light, provides easy accessibility & significant visibility from the 60,000+ vehicles passing daily along Hwy 98. The corner site also contains a highly visible large marquee sign. Strategically located less than a mile from The Destin Commons, Whole Foods, restaurants & businesses, this professional Office building is fully leased & generated $381,877 annual income in 2025. High quality finishes & architectural appeal accent this 15,000+ SF Class A office space. With 255K estimated 2026 NOI and 7.5% estimated CAP., this opportunity won't last long. The month to month Tenant could vacate if Buyer wants to occupy a potion of the building. Inquire to schedule a private showing.

Listing Details MLS# 969488

Contract Info

GCCMLS Number: 41991440
Listing Board: Emerald Coast

Location Tax and Legal

Area: 14 - Destin
Street #: 4635
Street Name: Gulfstarr
Street Suffix: Drive
State: FL
Zip Code: 32541
County: Okaloosa
Parcel ID: 00-2S-22-2380-0000-0010

General Property Info

Listed on GCCMLS: Yes
Vacant: No
Immediate Occupancy: No
Acreage: 1.1
Lot Frontage: 100
Lot Depth: 250

Income Producing

Year Built: 2005
Building SqFt: 15352
Annual Gross Income: 347840
Cap Rate: 5.56

More Information

Office

Year Built: 2005
Building SqFt: 15352
Actual Gross Income: 347840
Net Operating Income: 234695
# of Units: 4

Property Features

Class: Income Producing; Office Construction Status: Existing

Documents

ROI Analysis ›

Gulfstarr Zoning Information ›

Listing Office: RE/MAX Coastal Properties

Last Updated: July - 31 - 2026

All information is believed to be accurate but is not guaranteed. Protected by Copyright© 2026 and is owned either by the Emerald Coast Association of REALTORS®, Inc or by the developers of the software, FBS, Inc. All rights reserved.