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Harrison Lilly Team

Owner/Operator | Harrison Lilly Emerald Coast | Harrison Lilly Realty | PLACE

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577 Brookmeade Dr , Crestview, FL 32539
$2,200,000
Est. Payment: $12,154.68/mo
1.01 Acres
Status: Active | Days on site: 30
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EDAW - E28203,E8251
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Harrison Lilly Team
Owner/Operator

House Description

10,200 SF freestanding medical building directly across the street from North Okaloosa Medical Center, the only operating hospital between Pensacola and Fort Walton. Purpose-built for outpatient medical use, currently operating as one, and sitting on a 1 acre corner in the fastest growing corridor of the Panhandle. The primary suite (6,800 SF) is on a below-market gross lease running through May 2028, at which point the lease specifies repricing to market rent. The companion suite (3,400 SF) is available to a new owner within 90 days of closing under existing lease terms. You inherit contracted income covering carry, and you step into a mark-to-market reset conversation 21 months from now. The submarket is at 1.9% MOB vacancy per CoStar Q1 2026, so the reset has real teeth. This property offers medical-grade plumbing, aquatic therapy pool, treatment build-out, ADA-compliant restrooms, dual-meter utility separation, 40 parking spaces, and an ongoing maintenance program. Steel-frame construction, 2015 remodel, replacement cost $2.685M per current insurance carrier. Zoned mixed use, in Crestview city limits. The bigger story is the corridor: Williams International's $1B advanced aviation campus under construction 7 minutes north, 6,387 residential units approved and under construction, 78,000+ people in the 30-minute drive catchment, and Eglin AFB anchoring healthcare demand year-round. NOMC just delivered a $15M ED expansion with a cath lab pre-built. Best fit for a practice with a 22-month expansion plan, a physician-investor group, or a regional healthcare platform. Not a stabilized cap-rate play; a defined path to one. Full package including lease abstract, mark-to-market analysis with comps, floor plans, and specs on qualified inquiry.

Highlights

Listed by Todd Siegrist , 850-797-0627 and Dennis Fortenberry , 850-428-3688 Dalton Wade Inc , 888-668-8283. Emerald Coast Multiple Listing Services

Property Type

Commercial Sale

Lot/Acreage
1.01

County

Okaloosa

Area

25 - Crestview Area

Listing ID

1010582

Questions about this listing?

Contact Agent

Interior Features

Exterior Features

Lot Dimensions:212x206
Principal Interest
$12,155
Taxes
$1,403

Home Price

$2,200,000

Loan Details

30 yrs
7.374%

Down Payment

20%
$440,000
All calculations are estimates and provided by Blueroof360. Today’s Rates provided by Blueroof360. Information and interactive calculators are made available to you only as self-help tools for your independent use and are not intended to provide investment or tax advice. We cannot and do not guarantee their applicability or accuracy in regards to your individual circumstances. All examples are hypothetical and are for illustrative purposes. We encourage you to seek personalized advice from qualified professionals regarding all personal finance issues.
Monthly Price:
$12,154.68

Principal

Taxes

Principal Taxes HOA Total
Monthly $12,154.68 $1,402.50 $0.00 $13,557.18
Yearly $145,856.20 $16,830.00 $0.00 $162,686.20
Total $4,375,685.92 $504,900.00 $0.00 $4,880,585.92

Today's Rates

30 Year

7.37%

20 Year

7.27%

15 Year

6.8%

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Market insight data is pulled from the same city as the listing being viewed (Crestview, FL).

The schools listed are within a 2-mile radius of the property; however, attendance is not guaranteed. Please contact the local school district to confirm zoning and enrollment options.

Information provided by Emerald Coast Multiple Listing Services, and is deemed reliable but not guaranteed accurate.

IDX service by Blueroof 360

Data last updated: 2026-10-07T11:00:03.000Z

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