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    For Sale (38)

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    Land on Highway 77, Chipley
    $199,900
    2.48 Acres

    Land on Highway 77, Chipley

    2.48 acres on Hwy 77, suitable for business.

    5750 Fl-77, Chipley, FL 32428
    View details
    Pasture Land in DeFuniak Springs
    $355,894
    46.22 Acres

    Pasture Land in DeFuniak Springs

    46.22 acres of pasture land in Walton County, Florida.

    Adams Dr, Defuniak Springs, FL 32433
    View details
    Ponce De Leon Land Opportunity
    $79,900
    1.00 Acre

    Ponce De Leon Land Opportunity

    One-acre property with barn, sheds, septic, and well.

    2444 Hardee Skipper Rd, Ponce de Leon, FL 32455
    View details
    Freeport Land Near Clyde Wells
    $4,250,000
    14.44 Acres

    Freeport Land Near Clyde Wells

    14.4 acres in Freeport, FL with commercial and residential zoning.

    19494 Us Highway 331, Freeport, FL 32439
    View details
    Vacant Land in Florala, AL
    $38,000
    3.00 Acres

    Vacant Land in Florala, AL

    3-acre vacant land suitable for home or mobile home.

    3 Acre -C Prescott Rd, Florala, AL 36442
    View details
    Walton County Wooded Acreage
    $483,800
    48.38 Acres

    Walton County Wooded Acreage

    48.38 acres in North Walton County with utilities.

    11 Sandy Ramp Rd, Defuniak Springs, FL 32433
    View details
    Florala Land for Residential Development
    $169,900
    12.87 Acres

    Florala Land for Residential Development

    12.87 acres of vacant lots for residential development.

    56 10Th St, Florala, AL 36442
    View details
    Buildable Lots Near Lake Jackson
    $89,900
    0.83 Acres

    Buildable Lots Near Lake Jackson

    Four buildable lots near Lake Jackson with city utilities.

    23447 2Nd Ave, Florala, AL 36442
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    Wooded Acreage Near DeFuniak Springs
    $239,900
    12.98 Acres

    Wooded Acreage Near DeFuniak Springs

    12.98 acres of wooded land close to town.

    Mccall Dairy Rd, Defuniak Springs, FL 32435
    View details
    Ponce De Leon Acreage
    $110,000
    10.00 Acres

    Ponce De Leon Acreage

    10 acres of land suitable for residential or recreational use.

    10 Acres Co Hwy 183, Ponce de Leon, FL 32455
    View details
    Cleared Land Ready For Building
    $79,900
    1.13 Acres

    Cleared Land Ready For Building

    Over one acre of cleared land ready for your dream home.

    54 Sundance Rd, Defuniak Springs, FL 32435
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    Wooded Lot in Growing Area
    Contact for pricing
    0.23 Acres

    Wooded Lot in Growing Area

    Wooded, level lot suitable for building or manufactured home.

    Jonquil Ave W, Defuniak Springs, FL 32433
    View details
    20 Acres in Paxton, Florida
    $399,900
    20.00 Acres

    20 Acres in Paxton, Florida

    20 acres within city limits, suitable for residential or investment.

    20 Acres Cannon Dr, Paxton, FL 32538
    View details
    DeFuniak Springs Warehouses and Land
    $425,000
    21,800 SF

    DeFuniak Springs Warehouses and Land

    5.5 acres with two warehouses and small office building.

    1408 State Highway 83, Defuniak Springs, FL 32433
    View details
    Cleared Land in Florala, AL
    $45,000
    5.65 Acres

    Cleared Land in Florala, AL

    Vacant 5.65 acres ideal for home or mobile home.

    5.65 Acre Prescott Rd, Florala, AL 36442
    View details
    LAND - Paxton, FL
    $219,900
    10.00 Acres

    LAND - Paxton, FL

    Agricultural land / Farmland

    10 S Cannon Dr, Paxton, FL 32538
    View details
    22 Acres with Three Ponds
    $100,000
    22.00 Acres

    22 Acres with Three Ponds

    Land with three ponds, not in a flood zone.

    Gibson St, Elba, AL 36323
    View details
    40 Acres of Natural Paradise
    $239,000
    40.00 Acres

    40 Acres of Natural Paradise

    40 acres of land in DeFuniak Springs, Florida.

    40 Acres Brooklyn Dr, Defuniak Springs, FL 32433
    View details
    Elba Land with Development Potential
    $74,850
    8.70 Acres

    Elba Land with Development Potential

    Spacious homesite with 8.7 acres of wooded land.

    1436 Claxton Ave, Elba, AL 36323
    View details
    Crestview Land with Waterview
    $299,900
    4.12 Acres

    Crestview Land with Waterview

    4.12 acre parcel with waterview and development potential.

    4.12 Acres Old Bethel Rd, Crestview, FL 32536
    View details
    DeFuniak Springs Building Lot
    Contact for pricing
    0.23 Acres

    DeFuniak Springs Building Lot

    Wooded lot with paved road frontage near I-10.

    E Primrose Ave, Defuniak Springs, FL 32433
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    DeFuniak Springs Building Lot
    Contact for pricing
    0.23 Acres

    DeFuniak Springs Building Lot

    Wooded lot with utilities available near I-10 and Hwy 285.

    Primrose Ave E, Defuniak Springs, FL 32433
    View details
    Residential Land in Laurel Hill
    $74,900
    3.10 Acres

    Residential Land in Laurel Hill

    Three acre residential land parcel in North Walton County.

    Co Hwy 2, Laurel Hill, FL 32567
    View details
    90 Acres of Hunting Land
    $429,900
    90.00 Acres

    90 Acres of Hunting Land

    90+/- acres of land perfect for hunting and recreation.

    90 Acres Un Hl Rd, Vernon, FL 32462
    View details
    Cleared Land Near Lake Jackson
    $38,000
    3.00 Acres

    Cleared Land Near Lake Jackson

    3 acres of cleared, vacant land with agricultural zoning.

    3 -E Prescott Rd, Florala, AL 36442
    View details
    Westville Land with Pond
    $159,900
    17.50 Acres

    Westville Land with Pond

    17.5 acres in North Walton County with pond.

    601 Oak Grove Rd, Westville, FL 32464
    View details
    Waterfront Buildable Lot Opportunity
    $249,900
    0.14 Acres

    Waterfront Buildable Lot Opportunity

    Canal-front lot with boat ramp access to Choctawhatchee Bay.

    Bayou Rd, Santa Rosa Beach, FL 32459
    View details
    Land Near US Hwy 331
    $75,000
    1.04 Acres

    Land Near US Hwy 331

    Two level lots near school and beaches with city utilities.

    22445 Us Highway 331, Laurel Hill, FL 32567
    View details
    Undeveloped Land on Highway 55
    $129,900
    19.00 Acres

    Undeveloped Land on Highway 55

    19 acres of versatile land between Andalusia and Florala.

    19 Acres Hwy 55, Andalusia, AL 36420
    View details
    10 Acres Corner Parcel Land
    $89,900
    10.00 Acres

    10 Acres Corner Parcel Land

    10-acre corner parcel near Eglin AFB and South Walton beaches.

    10 Acres Bob Sikes Rd, Defuniak Springs, FL 32435
    View details
    15 Acres of Pasture Land
    $175,000

    15 Acres of Pasture Land

    15 acres of pasture land with scattered Stately Oaks.

    Xx Wallace Rd, Defuniak Springs, FL 32433
    View details
    Wooded Acreage Near Highway 331
    $110,000

    Wooded Acreage Near Highway 331

    10-acre wooded parcel with creek, convenient highway access.

    Strickland Rd, Defuniak Springs, FL 32435
    View details
    10+ Acres Wooded Land
    $110,000

    10+ Acres Wooded Land

    10+ acres of wooded land with creek access.

    Tyner Ln, Defuniak Springs, FL 32435
    View details
    HWY 331 Commercial Land Opportunity
    $799,900

    HWY 331 Commercial Land Opportunity

    1.72 acre commercial land with high visibility and access.

    00 Us Highway 331, Freeport, FL 32439
    View details
    Commercial Warehouse Near Downtown Crestview
    $579,900

    Commercial Warehouse Near Downtown Crestview

    6600 SF commercial warehouse with offices and open work areas.

    5450 Fairchild Rd, Crestview, FL 32539
    View details
    Land For Sale Florala
    $184,900

    Land For Sale Florala

    Land available in Florala, Alabama.

    4769 Davis Rd, Florala, AL 36442
    View details
    14.4 Acres on US Highway
    Contact for pricing
    629,006 SF

    14.4 Acres on US Highway

    14.4 acres with highway frontage near Clyde Wells Bridge.

    19494 Us Highway 331, Freeport, FL 32439
    View details
    Land on Claxton Avenue
    $74,850

    Land on Claxton Avenue

    Land available on Claxton Avenue, Elba, Alabama.

    1436 Claxton Ave, Elba, AL 36323
    View details

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    Merrifield & Pilcher Realty LLC
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    Realmo Value Estimations

    Realmo estimates a property’s market value using a proprietary methodology that incorporates public data and user-submitted information. This cumulative value is generated by integrating a variety of conventional and innovative methods. 

    Disclaimer

    These figures are not official appraisals and should not be used as a substitute for a valuation performed by a licensed appraiser.
    Actual market value may differ due to factors not captured in the data. Estimates are offered for informational purposes only, and users should conduct independent research before making financial or investment decisions.
    By using this feature, you acknowledge that Realmo is not responsible for actions taken based on these estimates.

    AI approach

    Realmo AI Method estimates property value using machine learning models trained on millions of comparable listings, transactions, and market signals. It analyzes property features, location intelligence data, and current market dynamics to predict the most probable market value in real time.

    Realmo CapRate Calculation

    Realmo calculates the Capitalization Rate (Cap Rate) to help estimate a property's potential return on investment. The Cap Rate is a fundamental metric in commercial real estate that measures the relationship between a property's net operating income and its market value.

    How We Calculate Cap Rate

    Cap Rate Formula:
    Cap Rate (%) = (Net Operating Income / Property Value) × 100

    Net Operating Income (NOI) Formula:
    NOI = Area × Lease Rate × (1 - Vacancy Rate) × (1 - Operating Expense Ratio)

    Components

    Net Operating Income (NOI) represents the annual income a property generates after operating expenses:

    • Area: Building square footage from property records
    • Lease Rate: Annual $/sqft based on market data for the property type and geographic location
    • Vacancy Rate: Percentage of unoccupied space based on market data for the property type and location
    • Operating Expense Ratio: Operating costs as a percentage of income, varies by property type

    Property Value is derived from:

    • Recent sale price (if available)
    • Statistical models using comparable sales
    • AI-powered valuation estimates

    Example Calculation

    For a 100,000 sqft Office Building:

    • Lease Rate: $25.00/sqft/year (market data for Office in this area)
    • Vacancy Rate: 8% (market data for Office in this area)
    • Operating Expense Ratio: 35% (typical for Office properties)
    • Property Value: $15,000,000

    Step 1: Calculate NOI

    NOI = 100,000 × $25.00 × (1 - 0.08) × (1 - 0.35)
    NOI = 100,000 × $25.00 × 0.92 × 0.65
    NOI = $1,495,000/year

    Step 2: Calculate Cap Rate

    Cap Rate = ($1,495,000 / $15,000,000) × 100
    Cap Rate = 9.97%

    Property Type Considerations

    Net Operating Income calculations vary by property type due to different operating expense ratios:

    • Office: Higher expenses (30-40%) for HVAC, utilities, maintenance
    • Retail: Moderate expenses (25-35%) for common area maintenance
    • Industrial/Warehouse: Lower expenses (15-25%) for minimal tenant services
    • Multifamily: Moderate expenses (35-45%) including property management
    • Self-Storage: Lower expenses (25-35%) due to minimal maintenance

    Market lease rates and vacancy rates are specific to each property type and geographic location, reflecting local market conditions.

    Disclaimer

    These calculations are estimates for informational purposes only and should not be used as a substitute for professional financial analysis or appraisal.

    • Cap Rate calculations depend on market data that may change over time
    • Actual operating expenses, lease rates, and vacancy rates may differ from market averages
    • Individual property conditions, lease terms, and tenant quality significantly impact actual NOI
    • Property value estimates are approximations and not official appraisals
    • Cap rates vary widely by market, property condition, and investment risk profile

    Professional Guidance Recommended: Before making any investment or financial decisions, consult with licensed appraisers, commercial real estate brokers, and financial advisors who can evaluate your specific property and circumstances.
    By using this feature, you acknowledge that Realmo is not responsible for investment decisions or actions taken based on these estimates.

    Cap approach

    Capitalization Method calculates value based on estimated net operating income (NOI) and applying a market-based capitalization rate (cap rate), we estimate what a typical investor might be willing to pay for it.

    Comparable approach

    Comparable estimate is based on recent sales of similar nearby properties, adjusted for factors like size, condition, and location.

    Relative

    Relative property class coefficient uses factors that account for typical price differences between various asset types (e.g., retail vs. industrial) to provide a more accurate market-aligned estimate.

    Geo

    Comparable Sales Method, enhanced by Geo coefficients — location-based adjustment factors that reflect differences in price levels across neighborhoods, cities, or regions ensuring a more accurate, market-sensitive valuation.

    Stat Estimate

    This method estimates value based on actual market adjusted recent (~5 years) sales of comparable properties around by location and property type.

    • Ranges - area data calculated by industry standard IQR Outlier Removal Method
    • Range-from: 75% of all similar sales ($/sqft) are above this value
    • Range-to: 75% of all similar sales ($/sqft) are below this value
    AI Estimate

    This method estimates value based on AI market estimation of comparable properties around by location and property type.

    • Ranges - area data calculated by industry standard IQR Outlier Removal Method
    • Range-from: 75% of all estimations ($/sqft) are above this value
    • Range-to: 75% of all estimations ($/sqft) are below this value
    Alternative use

    Estimate considers the property’s potential value if used for a different purpose-based on zoning, demand, and market feasibility.

    More about this property
    Merrifield & Pilcher Realty LLC
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