Residential Land for Sale in Destin, Florida
4635 Gulfstarr Dr, Destin, FL 32541
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.
Location
- Street address
- 4635 Gulfstarr Dr
- County
- Okaloosa County
- Zip code
- 32541
- Community
- Destin
- Elevation
- 16 feet
Directions
From HWY 98, Turn South at the traffic light onto Regatta Bay Blvd. Take the 1st Left onto Gulfstarr Dr. & immediate Left into the Parking Lot. Property is located on the Corner of Gulfstarr Dr. & Regatta Bay Blvd. with frontage on HWY 98.
Property details
- Acreage
- 1.1 acres47,916 sq ft
- MLS #
- ECARMLS 969488
- Posted
Parcels
- 00-2S-22-2380-0000-0010
Legal description
SUNSAIL PLAZA S/D LOT 1
Details and features
Listing
- Type
- Residential
- Subtype
- Condominium
- Franchise
- RE/MAX International
Listing history
| Date | Event | Price | Change | Source |
|---|---|---|---|---|
| July 31, 2026 | Price drop | $3,399,500 | $101,400 -2.9% | ECARMLS |
| Jan 14, 2026 | Price drop | $3,500,900 | $239,300 -6.4% | ECARMLS |
| Jan 6, 2026 | Price drop | $3,740,200 | $183,800 -4.7% | ECARMLS |
| Nov 12, 2025 | Price drop | $3,924,000 | $300,000 -7.1% | ECARMLS |
| Apr 30, 2025 | New listing | $4,224,000 | — | ECARMLS |