We experimentally investigate a strategy to discriminate between quaternary phase-shift keyed coherent states based on single-shot measurements that is compatible with high-bandwidth communications. We extend previous theoretical work in single-shot measurements to include critical experimental parameters affecting the performance of practical implementations. Specifically, we investigate how the visibility of the optical displacement operations required in the strategy impacts the achievable discrimination error probability, and identify the experimental requirements to outperform an ideal heterodyne measurement. Our experimental implementation is optimized based on the experimental parameters and allows for the investigation of realistic single-shot measurements for multistate discrimination.