Add Listing
    For Sale
    • For Sale
    • For Lease
    • Recently Sold
    • Property Lookup
    • Brokers
    AI Search
    Back to Search
    The Largest CRE Database in the US with Over 1 Million Listings

    W Black Cherry Dr, Unit 43 Defuniak Springs, FL 32433

    View on Map
    Sponsored
    For Sale
    Contact for pricing

    LAND - DeFuniak Springs, FL

    Lot size:
    0.23 Acres
    Days on Market:
    18
    Last Refresh:
    Mar 21 at 1:06 am

    Property Features for W Black Cherry Dr

    General Information

    Property type
    Land
    Property subtype
    Other
    Standard status
    Active
    Zoning
    County, Deed Restrictions
    APN
    15-3N-20-28070-031-0430
    Lot size
    0.23 Acres

    Utilities

    Sewer type
    Septic Tank

    We can help!

    Listing Contact
    Tina N Marsh

    Keller Williams Realty- Emerald Coast

    Listing agent Tina N Marsh License #3485020

    Listing date Mar 3, 2026

    MLS# 966881

    Copyright © 2026 Emerald Coast Association of Realtors. All rights reserved. All information provided by the listing agent/broker is deemed reliable but is not guaranteed and should be independently verified.

    Learn more

    Property Insight Report

    Overview

    Residential Lot in Oakwood Hills

    This 0.23-acre lot is one of four platted lots adjoining each other in Unit 2 of Oakwood Hills, an area currently under development and experiencing growth. The zoning is Rural Residential, which allows for single-family residential use. According to the Declaration of Restrictions dated March 30, 1976, mobile homes are not permitted on any of the lots in Oakwood Hills, Unit 2. The county GIS map indicates a flood zone designation of X. Setbacks are as follows: front 20 feet, back 15 feet, and sides 7.5 feet. The lot is raw, requiring septic and tap-in fees.
    Property Profile Insight Report Location Intelligence

    Current Use by Public Records

    Residential land & home ...

    Map

    City
    Defuniak Springs
    County
    Walton
    State
    Florida
    Longitude
    -86.234408
    Latitude
    30.754649

    Nearby Similar for Sale

    • Contact for pricing
      16,645 SF

      Medical Suite in Defuniak Springs

      Medical suite in multi-tenant building near hospital and I-10.
      4415 Us Highway 331, Defuniak Springs, FL 32433
      View Details
    • $5,500,000
      0.97 Acres

      High-Exposure Mixed-Use Property

      Mixed-use property with highway frontage and commercial zoning.
      59 Nina St, Defuniak Springs, FL 32433
      View Details
    • $649,000

      Income-Producing Commercial Property For Sale

      Well-located commercial property with long-term tenant and recent upgrades.
      873 Us Highway 331, Defuniak Springs, FL 32435
      View Details
    • $99,999

      Restaurant Opportunity on Highway 90

      Restaurant building with equipment on 0.75 acre lot.
      7700 Us Highway 90, Defuniak Springs, FL 32433
      View Details
    • $550,000
      52,272 SF

      Mobile Home Park Opportunity

      1.2-acre mobile home park with expansion potential in DeFuniak Springs.
      108 Smith Rd, Defuniak Springs, FL 32433
      View Details
    • $5,895,000
      42,240 SF

      Northwest Florida Multifamily Investment Opportunity

      Well-maintained, renovated 55-unit multifamily property in Northwest Florida.
      125 N Davis Ln, Defuniak Springs, FL 32433
      View Details
    • $135,000

      Overgrown Farm Property For Sale

      Neglected farm property with fenced pasture and abandoned barn.
      685 Pinewood Dr, Defuniak Springs, FL 32433
      View Details
    • $5,895,000

      Renovated Multifamily Investment Opportunity

      55-unit multifamily property with 95% occupancy in Northwest Florida.
      125 N Davis Ln, Defuniak Springs, FL 32433
      View Details
    • $275,000
      1,586 SF

      Prime Defuniak Springs Office Building

      Highly visible office, excellent location, great growth potential.
      10 S 4th street, Defuniak Springs, FL 32433
      View Details
    • $1,000,000
      9,300 SF

      Prime Retail Space, Hwy 90, FL

      9,300 SF Retail/Warehouse, High Visibility
      981 Us Highway 90, DeFuniak Springs, FL 32433
      View Details
    • $900,000

      Free Standing Building For Sale

      5000 SF building with drive-thru and established parking.
      1026 S Us Highway 331, Defuniak Springs, FL 32435
      View Details
    • $149,500

      Updated Retail Building For Sale

      Updated 1120 SF block building suitable for small business.
      7575 N Us Highway 331, Defuniak Springs, FL 32433
      View Details

    FAQs

    What type of property is this?
    Residential land & home lot - Residential lot in growing area near distribution centers.
    Where is this residential land & home lot located?
    The property is located at W Black Cherry Dr, Unit 43 Defuniak Springs, FL.
    What is the asking price?
    The asking price for this property is $15,000.
    What are key features of this property?
    This property features: - Four adjoining platted lots offer ample space and potential.; - Located in Oakwood Hills Unit 2, a growing area with ongoing development.; - Proximity to distribution centers like Amazon suggests potential for employment and economic growth.
    (850) 974-5016
    Request Owner's contact information
    W Black Cherry Dr, Unit 43 Defuniak Springs, FL 32433
    Message sent successfully
    Error
    If you are the owner or broker of this property and would like to edit or remove this listing please send a message to web site administrator.
    W Black Cherry Dr, Unit 43
    Defuniak Springs, FL 32433
    Message sent successfully
    Error
    Email to Your Friends
    Link copied to clipboard
    Separate multiple addresses with a comma
    Message sent successfully
    Error

    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
    W Black Cherry Dr, Unit 43 Defuniak Springs, FL 32433
    Thanks! Your message was sent.
    Error! Your message wasn't sent.
    Please enter your name
    Please enter email
    Please enter the email in the correct format
    Please enter phone
    Please enter the number in the correct format
    Please enter message
    Thank You

    You are Unsubscribed From Notifications

    We can help!
    Listing Contact
    Tina N Marsh
    Real Estate License ID: 3485020
    Learn More
    Google sign-in failed. Please try again or use another login method.
    Sign Up Successful!
    You now have access to more from Realmo!