Free Standing Building For
For Sale
$900,000
Pending
1026 S Us Highway 331, Defuniak Springs, FL 32435
5000 SF building with drive-thru and established parking.
Property Size5,000 SF
Days on Market338
Property Features for 1026 S Us Highway 331
General Information
Standard status
Pending
Size
5,000 SF
Property subtype
Commercial
Listing Agency:
Berkshire Hathaway Home Services PenFed Realty
Listed By:
Steven R Youell · License #3100602
(850) 729-0176
Source:
Emeraldcoasthomefinder
Added: Nov 22, 2025
Changed: Oct 25
Last Checked: Oct 24 at 5:21PM
Displayed information is deemed reliable but is not guaranteed and should be independently verified. All listing content including descriptions, pricing, images are the copyrighted material of Berkshire Hathaway Home Services PenFed Realty
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Review the available facts, identify missing information and prepare questions for the agent.
Investment Insights
Based on property information with market context.
This is a 5000 square foot free-standing building located within the parking area of a shopping center anchored by Winn Dixie. The property benefits from an Average Annual Daily Traffic (AADT) count of 22,000. A major road upgrade is underway on Highway 331 at this location. The property experiences high traffic volume, particularly within the Winn Dixie parking lot. Parking is already established, with additional deeded parking available within the shopping center's parking area. The location offers high visibility and is situated in an area with substantial current commercial growth in close proximity. The building includes a drive-thru window on the east end. The property is suitable for various businesses.
Key Highlights
- High‑traffic location within a Winn Dixie anchored shopping center (AADT 22,000)
- Existing drive‑thru window
- 5,000 sq ft free‑standing building
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$57,645
Cap Rate
6.40%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$1,152,900
$1.2M
Cap Rate 7%
$823,500
$823.5K
Cap Rate 9%
$640,500
$640.5K
Market Conditions
NOI Build-Up for 5,000 SF
Gross rent
$90.0K $18.00/SF
− Vacancy
−$7.7K −$1.53/SF
EGI
$82.4K $16.47/SF
− OpEx
−$24.7K −$4.94/SF
NOI
$57.6K $11.53/SF
Area
Walton County, FL
Vacancy
8.50%
Lease Rate
$18.00 /SF/Yr
Expense Ratio
30.00%
Simulate Cap Rate and NOI
Suggested Prices Based on Cap Rates
Cap Rate 5%
$1,152,900
Cap Rate 7%
$823,500
Cap Rate 9%
$640,500
Alternative Uses
Best Use
Retail
$823.5K
$720.6K – $960.8K
NOI $57,645 @ 7.0% cap · market cap 6.40%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$1.26M
$1.10M – $1.47M
NOI $88,020 @ 7.0% cap · market cap 9.78%
Zoning and permitted uses should be independently verified with authorities.
How Realmo checks its estimates
Property Analytics
Who owns this building?
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Open Analytics
Current Use
Location Intelligence
Trade Area within ½ mile
249
Businesses Nearby
Balanced
Demand for This Use
Explore this area
Business Placement
Demographics for 32435, FL
6,935
Population
2,885
Households
2.4
Avg Household Size
44
Median Age
27%
College-Educated
91%
High-School Grad
136.7 sq mi
ZIP Area
51
Density / Sq Mi
$63,017
Median Household Income
$39,030
Median Earnings
$742
Median Rent
$185,600
Median Home Value
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Cap Rate, Value Estimation, Potential NOI and more
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Market
Vacancy Rate% for Retail in South region
Frequently Asked Questions
What type of property is this?
Storefront property - 5000 SF building with drive-thru and established parking.
Where is this storefront property located?
The property is located at 1026 S Us Highway 331 Defuniak Springs, FL.
What is the asking price?
The asking price for this property is $900,000.
What are key features of this property?
This property features: High‑traffic location within a Winn Dixie anchored shopping center (AADT 22,000); Existing drive‑thru window; 5,000 sq ft free‑standing building
