Property specifications & diligence record
Every specification,
and every open question.
This is the working record behind the listing. Verified figures are sourced. Items still in diligence are marked as such rather than omitted. Nothing on this page is an estimate presented as a fact.
01/Core facts
The building, in one screen.
10,200SF heated
10,666 gross
10,666 gross
1.01Acre corner site
210 ft frontage
210 ft frontage
1996Year built
remodel permit 2015
remodel permit 2015
40Parking spaces
3.75 per 1,000 SF
3.75 per 1,000 SF
0.1Mile to
hospital campus
hospital campus
- Address Verified
- 577 Brookmeade Drive, Crestview, FL 32539
- Parcel ID Verified
- 28-3N-23-0000-0010-0000Section-Township-Range 28-3N-23 · Okaloosa County Property Appraiser
- Property use code Verified
- 001700 — One-story officeTax District 3, inside City of Crestview limits
- Building class Verified
- Class C · low-rise freestanding office, multi-tenant capacity
- Occupancy Verified
- Fully leasedBoth suites occupied under written leases. See Suites below.
- Floor area ratio Verified
- 0.24Substantial unused density on the site under current zoning envelope.
- Suite areas In diligence
- 6,800 SF and 3,200 SF per lease documentsLease areas total 10,000 SF against 10,200 SF heated. Measured architectural drawing ordered; suite-level areas will be restated from that survey.
- Zoning classification In diligence
- Commercial, within city limitsWritten zoning verification letter requested from City of Crestview Planning. Candidate districts C-1, C-2 or MU under the Land Development Code effective 2/24/2021.
02/Site & structure
Corner lot, steel frame, single story.
A 1.01-acre corner parcel at Brookmeade Drive and Covell Road with 210 feet of frontage. The structure is a single-story steel-frame building finished in stucco over wood framing, under a metal roof.
- Site Verified
- 1.01 acres, GIS-verifiedCorner configuration at Brookmeade and Covell · 210 ft frontage
- Structural frame Verified
- Steel
- Exterior Verified
- Wood frame with stucco finish
- Roof Verified
- Metal, Arctic Metal finishOriginal to 1996 construction. All roof screws replaced approximately 8–10 years ago. Independent service-life assessment ordered.
- Area breakdown Verified
- Base 8,808 SF · finished storage 1,392 SF · canopies 341 SFCanopies permitted 1996 and 2002 · 10,666 SF gross
- Clear height Verified
- 9 ft, floor to bottom of ceiling structure
- Interior finishes Verified
- Drywall partitions · finished concrete with carpet
- Parking Verified
- 40 spaces · 3.75 per 1,000 SFAllocated between suites per lease terms. Buyers underwriting a high-intensity clinical use should evaluate this ratio against their own parking demand; the site has surface area available for restriping study.
- Permit history Verified
- #960238 original build 3/1/1996 · #021128 canopy 11/13/2002 · #15000768 remodel 7/15/2015
- Certificates of occupancy In diligence
- Requested for the 2002 canopy and 2015 remodel permits
- Survey & title In diligence
- ALTA/NSPS survey and title commitment orderedEasements, encroachments and any shared-access agreements to be reported from the commitment.
03/Suites & tenancy
Two suites, both leased today.
The building is fully occupied under two written gross leases. Under both, the landlord currently carries taxes, insurance and operating costs. Complete lease documentation is provided in the diligence package, and every figure below should be verified against those documents by the buyer and the buyer's counsel.
Suite A · approx. 6,800 SF · occupied
- Use
- Outpatient clinical, including in-ground aquatic therapy pool
- Current rent
- $6,000 per month, gross
- Rate
- Approximately $10.59 per SF per year
- Rent structure
- $5,000/mo year one from 6/1/2025; $6,000/mo for the two-year period beginning 6/1/2026
- Term expires
- May 31, 2028 — approximately 21 months remaining
- Renewal
- No fixed renewal rate. Lease Section 1 provides that a new lease and price will be negotiated at going commercial rent.
- Escalation
- Landlord may pass through increases in taxes and insurance during the current term
- Security deposit
- None held
- Tenant termination
- Permitted on 90 days written notice, limited by Section 22 to a decision to cease business operations in the building
- Capital obligation
- A lease addendum provides that landlord and tenant split the cost of replacing the therapy gym HVAC unit when replacement becomes necessary. This obligation runs with the lease.
Suite B · approx. 3,200 SF · occupied
- Use
- Personal services / beauty treatment
- Current rent
- $3,200 per month, gross
- Rate
- Approximately $12.00 per SF per year
- Term
- October 1, 2025 through September 30, 2027 — approximately 13 months remaining
- Renewal option
- Tenant option for one additional year unless either party gives written notice at least 90 days before term end
- Security deposit
- $3,000 held
- Independent systems
- Separate entry and signage. Water is served by a single meter for the building and is billed to tenants by the landlord.
- Sale provision
- The lease contains a provision addressing the tenant's position on a sale of the property. Its operation is a matter for the buyer's counsel to assess against the executed document.
- Contracted in-place rent Verified
- $9,200 per month · $110,400 per year, grossBoth suites, current lease terms, as of the date of this page.
- Rights of first refusal In diligence
- Both leases contain a first right of refusal to purchaseNeither clause specifies a response window, a price mechanism or a notice procedure. Seller's counsel is administering notice. Current status and all correspondence are disclosed in the diligence package. Buyers should have their own counsel review these provisions before submitting an offer.
- Suite B executed original In diligence
- Fully executed counterpart being obtained from the parties
- Operating history In diligence
- Trailing 24–36 month profit and loss statements in preparation
- Estoppel certificates In diligence
- Requested from both tenants
How to read this section
Lease interpretation is a legal question, not a marketing one. Nothing here characterizes what any lease provision will be held to mean, what a tenant will do at expiration, or what rent a renewal will produce. The documents are provided in full so that your counsel can reach their own conclusions.
04/Systems & infrastructure
What is in the walls, stated plainly.
A 1996 building with partial systems replacement over the ownership period. Some components are recent. Others are original and near the end of service life. Both are listed, because a buyer will find them either way and the second conversation is easier than the first.
- HVAC In diligence
- Multiple units, ages ranging approximately 1 to 12 yearsPartial replacement completed during ownership. Unit-by-unit inventory with age, manufacturer and area served is being compiled.
- Water heaters Verified
- Four units, approximately 30 years oldOriginal to the 1996 construction. Replacement should be underwritten as near-term capital by any buyer.
- Sewage Verified
- Lift station installed during ownershipPublic sewer versus septic-with-pump configuration being confirmed with City of Crestview.
- Plumbing Verified
- Two rooms with in-room plumbing and sinksDistribution material to be confirmed by inspection.
- Aquatic therapy pool In diligence
- In-ground pool, in service within Suite ADimensions, depth, mechanical equipment age, accessibility provisions and Florida Department of Health commercial pool permit currency are all being documented. Any buyer intending clinical aquatic use should confirm permit status independently.
- Electrical In diligence
- Service amperage, phase configuration, wiring type and generator provisions being documented
- Heat & air Verified
- Air-ducted heat · central air conditioning
- Building envelope In diligence
- Window protection type, wind mitigation report and insulation values being documented
- Accessibility In diligence
- No independent ADA audit has been performedBuyers requiring certified accessibility compliance should commission their own survey. The seller makes no representation on this point.
- Environmental In diligence
- No Phase I Environmental Site Assessment has been performedNo prior assessment is known to exist. Records request pending.
- Flood In diligence
- Flood insurance is not currently required by the lenderFormal FEMA flood determination certificate being obtained. Site elevation approximately 235 ft.
- Floor plans In diligence
- Measured architectural drawing ordered
Capital position
This is a thirty-year-old building. The roof, the water heaters and a portion of the HVAC inventory are at or approaching the end of typical service life, and the Suite A lease addendum carries a shared HVAC replacement obligation. These are ordinary conditions for the vintage and they should be priced, not discovered. Full documentation supports an informed reserve assumption.
05/Utilities, tax & insurance
Carrying costs and the reassessment.
- Electric Verified
- Florida Power & Light
- Water & sewer Verified
- City of Crestview · approximately $1,400 per yearA single meter serves the building. Water is billed to tenants by the landlord on receipt.
- Natural gas Verified
- Okaloosa Gas
- Internet Verified
- Cox Communications
- Insurance In diligence
- Approximately $15,000 per yearDeclarations page and loss runs being obtained. Figure to be restated from the declarations.
- 2025 just (market) value Verified
- $702,266Building $484,296 · extra features $37,411 · land $180,559 · Okaloosa County Property Appraiser, 2025 certified roll
- 2024 just value Verified
- $637,829Year over year increase of $64,437, or 10.1%
- Millage rate Verified
- 15.8751
- Current annual tax Verified
- Approximately $11,138Assessed value $701,612 · no exemptions, commercial classification
- Reassessment on sale Verified
- Florida resets assessed value on transferA buyer should underwrite property tax at the millage rate applied to their purchase price rather than at the current bill. At the current millage, each $100,000 of purchase price carries approximately $1,588 of annual tax.
- Special assessments Verified
- None disclosed · no business park association
06/Location & market context
The corner is changing under the building.
110Acute-care beds
at NOMC
at NOMC
$15MED expansion
delivered Aug 2025
delivered Aug 2025
39,000+ER visits
2023
2023
+30%ER volume growth
since 2020
since 2020
48,625Population
5-mile radius
5-mile radius
Hospital adjacency
- Directly across from North Okaloosa Medical Center, 151 E Redstone Avenue
- 110-bed acute-care facility owned by Community Health Systems, Inc.
- $15M emergency department expansion completed August 19, 2025, delivering 25 ER beds and a dedicated EMS entrance
- Structure prepared for future cardiac catheterization laboratory expansion
- ER volume exceeded 39,000 patients in 2023, up approximately 30% since 2020
Access & infrastructure
- Approximately 0.3 miles east of FL-85 / South Ferdon Boulevard
- Approximately 1 mile from Interstate 10, Exit 56
- Redstone Avenue at Brookmeade Drive intersection improvements, ITB 25-01-14-PS, bid closed January 14, 2025
- Scope includes realignment of the offset four-way stop, upgrade to a signalized intersection, emergency vehicle flow improvements and stormwater upgrades
- Construction schedule and completion date not yet published by the City
Market & demographics
- Crestview is the county seat of Okaloosa County, within the Crestview–Fort Walton Beach–Destin MSA
- 2024 city population 28,773, up 19.3% since 2019
- Median age 31.7 · median household income $65,480
- Five-mile radius population 48,625 with average household income of $91,894
- Population density 1,572 per square mile
Sources
North Okaloosa Medical Center newsroom, August 19, 2025 · Doster Construction Company release, May 2024 · Crestview News Bulletin, May 7, 2024 and January 28, 2025 · City of Crestview bids portal · Florida Senate FY2025-26 Local Funding Initiative Request S2644 · U.S. Census Bureau American Community Survey 2024 · Florida Demographics · World Population Review. Five-mile radius demographics derived from a third-party commercial listing service. Buyers should verify any figure they intend to rely on.
07/Diligence status
What is still being confirmed.
Every item tagged In diligence above is consolidated here. None of it is concealed and none of it is presented as settled. Items are released to qualified parties as they are documented.
Building & systems
- Roof remaining service life assessment
- HVAC unit-by-unit inventory
- Pool mechanical condition, dimensions, accessibility and DOH permit currency
- Electrical service amperage, phase, wiring type, generator
- Plumbing material and water heater type
- Sewer configuration confirmation
- Window protection, wind mitigation, insulation
Compliance & records
- Written zoning verification letter
- Certificates of occupancy, 2002 and 2015 permits
- Independent ADA audit
- FEMA flood determination certificate
- Phase I Environmental Site Assessment
- ALTA/NSPS survey and title commitment
- Easements, encroachments and access agreements
Financial & leasing
- Fully executed Suite B lease counterpart
- Tenant estoppel certificates, both suites
- Rights of first refusal, notice administration and status
- Trailing 24–36 month operating statements
- Insurance declarations page and loss runs
- Measured floor plan and suite-level areas
- Signage rights and monument sign permits
- Traffic counts and intersection project schedule
08/Next step
Questions this page did not answer.
If you are evaluating this property seriously, the useful next step is a conversation about the specific items that matter to your use. Lease documents, operating history and the diligence file open on qualified inquiry under standard commercial confidentiality.
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The overview covers the location, the building, the deal structure and the fit for different buyer types. This page is the underlying record.