577 Brookmeade Drive, Crestview

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.

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