Skip 24 months of planning and construction.
Fully operational in 180 days in the tightest submarket in the panhandle.
Turnkey 10,000 SF medical asset directly across from North Okaloosa Medical Center, in the tightest healthcare submarket in the Florida panhandle.
Williams International advanced aviation campus, 7 minutes north. Largest single private capital investment in NWFL history.
Units approved and under construction in Crestview, 2024–2027 delivery.
Crestview 1–3 Star office submarket, CoStar Q1 2026. Among the tightest vacancy rates in the NWFL office and medical office market.
Drive-time catchment. Median household income exceeds $80K.
A manufacturing-led growth cycle is reshaping the I-10 corridor.
Crestview has been the demographic outlier of the Florida panhandle for a decade. The next ten years compound that.
The Williams International campus at Shoal River Ranch Industrial Park is not a speculative announcement. It is a $1B advanced aviation manufacturing facility under construction 7 minutes from this property, anchoring Florida's largest industrial park — 10,500 acres of state-supported, fully-zoned industrial land. State and regional projections call for 4,000+ direct high-wage manufacturing jobs over the next 10–15 years, plus the supplier and ancillary employment that follows.
That job creation is landing on top of a residential pipeline already in motion: 6,387 approved or under-construction units across single-family, townhome, and multifamily product. The FDOT bypass system — Crestview's first complete loop infrastructure — is reshaping which commercial corridors capture this growth. The bypass interchanges at Crab Apple, Arena, and East SR-85 will define the next generation of highway-commercial value in Okaloosa County.
The military anchor underneath all of this is Eglin Air Force Base — the largest US military installation by land area — and Hurlburt Field, headquarters of Air Force Special Operations Command. Together they sustain a $9.18B annual regional economic impact and a continuous pipeline of skilled labor and military-retiree healthcare demand.
The result: Crestview MOB submarket vacancy compressed to 1.9% while the surrounding metros (Pensacola, Fort Walton, Panama City) carry 4%+ vacancy. There is no comparable asset on the market.
Shoal River Ranch Industrial Park — full development report PDF1.9% submarket vacancy against 4.0% market-wide. This is structural, not cyclical.
Q1 2026 CoStar data · Florida panhandle medical office submarket
The empty middle of the Florida panhandle MOB map.
If your network has Pensacola and Destin/Fort Walton, Crestview is the gap.
The Crestview gap: 40 miles to Pensacola, 35 to Destin, the midpoint of a 78,276-resident catchment.
Most national healthcare platforms with FL panhandle coverage carry locations on either end of the I-10 corridor — Pensacola to the west, Destin and Panama City to the east. Crestview sits in the middle: 40 miles from Pensacola, 35 miles from Destin, 70 miles from Panama City.
That midpoint is no longer underbuilt rural — it is the fastest-growing residential and industrial submarket in NWFL, with a 30-minute catchment of 78,276 residents and a median household income exceeding $80K. For platforms running hub-and-spoke models, Crestview captures the inland traffic that coastal locations miss and the I-10 commuter traffic that runs through it daily.
This building is the only operational, divisible, medically-licensed 10,000 SF asset available in that midpoint today.
10,000 SF, divisible, medically licensed, operating today.
A 6,800 SF clinical unit with aquatic therapy infrastructure and a 3,200 SF specialty unit — independently accessed, separately parked, ready to operate as one or as two.
The building was purpose-built for outpatient medical use and currently operates under that exact designation. The 6,800 SF primary unit houses clinical treatment space, medical-grade plumbing, and an aquatic therapy pool — an infrastructure footprint that would cost $400K+ and 12–18 months to replicate. The 3,200 SF specialty unit operates with independent ingress, signage, and parking.
An ongoing maintenance program and operational HVAC eliminate the deferred capex exposure that typically prices into older medical real estate. The result is a Day 1 operational platform — your team walks in, certifies, and opens.
Take a look inside
View all photos →
One building, two units, two ways to use it
Floor plan
Independent entries · separate parking lots · shared structure.
Occupy the 6,800 SF unit, lease out the 3,200 SF unit — or take the whole building.
Existing tenant contractual rights are being tendered prior to off-market distribution. Full resolution included in the investment package.
What you don't have to build.
Every line below represents capex and permit time you skip by acquiring this asset.
Current insurance carrier valuation · before land, soft costs, and 18–24 months of construction
Medical TI infrastructure replication cost · 12–18 months
vs. 540–720 days for de novo development in this submarket
Clinical infrastructure
- Medical-licensed outpatient designation, operational
- Medical-grade plumbing throughout 6,800 SF unit
- Aquatic therapy pool with full ADA-compliant access
- Treatment rooms with built-out fixtures and casework
- ADA-compliant restrooms, both units
- Fire suppression and local alarm monitoring
Building systems
- Year built: 1996 annual maintenance program in place; major systems updated over ownership tenure
- HVAC operational Standard age-appropriate replacements pending — itemized in diligence
- Electrical capacity supporting medical equipment loads
- Two independent service entries
- Dual-meter utility separation between units
- Two separate parking lots Independent ingress per unit
- Building replacement cost $2.685M insurance carrier basis
Full specifications, mechanical drawings, and insurance documentation included in the investment package.
Comparable medical office is closing at $300–$412/SF.
Submarket fundamentals support upward pressure, not compression.
| Address | City | Sale Date | Size (SF) | Price / SF | Notes |
|---|---|---|---|---|---|
| 332 Medcrest Dr | Crestview | Oct 2024 | 7,337 | $412 | Stabilized, NOMC-adjacent |
| 2400 S Ferdon Blvd | Crestview | May 2025 | 7,000 | $297 | Multi-property sale, partial vacancy |
| 550 Highway 85 N | Niceville | Jun 2024 | 9,158 | $236 | Comparable submarket, coastal-side |
| 767 Airport Rd | Panama City | Aug 2025 | 13,129 | $548 | Surgical-license premium |
Source: CoStar, transaction data through Q1 2026. Full comp set included in the investment package.
Submarket vacancy has tightened in every quarter of the trailing 24 months.
180 days to operational. Ground up takes 18 to 24 months.
Every quarter you don't open is a quarter of patient volume you don't capture.
For platforms measured on time-to-revenue, the calculus on this asset is straightforward. A typical de novo medical site in this submarket — assuming entitled land, no permit delays, and a cooperating municipality — runs 18 to 24 months from site control to certificate of occupancy. Tenant improvements for a medical fit-out add 60 to 120 days on top.
This asset compresses that timeline to up to 180 days. The first 30 days cover due diligence and license assignment. The next 60 days cover any platform-specific tenant improvements (most will be cosmetic and signage). The remaining 90 days cover staffing, certification, and ramp.
The opportunity cost of a 12 to 18 month timeline delta — at typical NWFL medical practice contribution margins — is meaningful. The investment package quantifies it for your model.
The opportunity cost of a 12 to 18 month timeline delta — at typical NWFL medical practice contribution margins — is quantified in the investment package for your model.
Request the full investment package.
Includes financials, lease abstracts, floor plans, comp set, and direct broker contact for a follow-up conversation.
Thanks. Package incoming.
The listing team will send the full investment package within one business day and follow up directly to schedule a conversation.
If your timeline is shorter than that, reach either listing agent directly.