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Retail Building with Drive-Through
For Sale
$900,000
Pending

1026 S Us Highway 331, Defuniak Springs, FL 32435

Commercial for Sale, DeFuniak Springs, FL

Property Size5,000 SF
Lot Size0.49 Acres
Days on Market616

Property Features for 1026 S Us Highway 331

General Information

Property type Commercial Sale
Property subtype Other
Zoning C2
Directions Highway 331 south in the Winn Dixie parking lot
Subdivision 23 - North Walton County
Standard status Pending
APN 34-3N-19-19000-036-0010
Lot size 0.49 Acres

Taxes and HOA fees

Tax Description COM SE/C OF SEC 34, S 89 DEG 54'40''W 116.80 FT, N 00 DEG 05 SEC 20''W 35 FT TO W R/W OF US 331, CONT ALONG R/W N 07 DEG 58'11''W 151.43 FT, CONT ALONG SAME BEARING ON R/W 150.96 FT, CONT ALONG R/W NLY 348.31 FT TO POB, S 89 DEG 54'40''W 165.5 FT, N 0 DEG 5'20''W 130 FT, N 89 DEG 54'40''E 165.5 FT TO W R/W OF US HWY 331, SLY ALONG SAID R/W 130 FT TO POB LESS & EXCEPT BEG AT A POINT W ROW US HWY 33
Legal Description COM SE/C OF SEC 34, S 89 DEG 54'40''W 116.80 FT, N 00 DEG 05 SEC 20''W 35 FT TO W R/W OF US 331, CONT ALONG R/W N 07 DEG 58'11''W 151.43 FT, CONT ALONG SAME BEARING ON R/W 150.96 FT, CONT ALONG R/W NLY 348.31 FT TO POB, S 89 DEG 54'40''W 165.5 FT, N 0 DEG 5'20''W 130 FT, N 89 DEG 54'40''E 165.5 FT TO W R/W OF US HWY 331, SLY ALONG SAID R/W 130 FT TO POB LESS & EXCEPT BEG AT A POINT W ROW US HWY 33
Listing Agency: Berkshire Hathaway Home Services PenFed Realty · Berkshire Hathaway HomeServices
Listed By: Steven R Youell · License #3100602
Added: Feb 19, 2025 Changed: Oct 8 Last Checked: Oct 28 at 3:06PM
MLS# 970386

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.

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Investment Insights

Based on property information with market context.

This 5,000-square-foot freestanding retail building occupies a 0.49-acre site within a shopping center parking area. The property includes an existing drive-through window positioned at the east end of the building, along with established on-site parking and additional deeded parking rights associated with the center. C2 zoning supports its commercial setting.

The property is located at 1026 S US Highway 331 in DeFuniak Springs, within a shopping center anchored by Winn Dixie. Highway 331 records an AADT of 22,000, and the surrounding parking area also experiences substantial vehicle activity. A major roadway upgrade is planned at this location, adding a notable access-related consideration for future occupants.

Key Highlights

  • 5,000‑square‑foot freestanding retail building
  • 0.49‑acre site within a shopping center parking area
  • Winn Dixie serves as the shopping center’s anchor tenant

Financial Insights

Estimated NOI and Cap Rate

NOI / Yr
$76,140
Cap Rate
8.46%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$1,522,800 $1.5M
Cap Rate 7%
$1,087,714 $1.1M
Cap Rate 9%
$846,000 $846.0K
Market Conditions
NOI Build-Up for 5,000 SF
Gross rent
$108.0K $21.60/SF
− Vacancy
−$6.5K −$1.30/SF
EGI
$101.5K $20.30/SF
− OpEx
−$25.4K −$5.08/SF
NOI
$76.1K $15.23/SF
Area
Walton County, FL
Vacancy
6.00%
Lease Rate
$21.60 /SF/Yr
Expense Ratio
25.00%
Simulate Cap Rate and NOI
Suggested Prices Based on Cap Rates
Cap Rate 5%
$1,522,800
Cap Rate 7%
$1,087,714
Cap Rate 9%
$846,000

Alternative Uses

Best Use
Specialty Retail
$1.09M
$951.8K – $1.27M (±1% cap)
NOI $76,140 @ 7.0% cap · market cap 8.46%
Second Best
Retail
$823.5K
$720.6K – $960.8K (±1% cap)
NOI $57,645 @ 7.0% cap · market cap 6.40%
Theoretical Best
Office A
$1.26M
$1.10M – $1.47M (±1% cap)
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? See the owner, sales and loan history
Open Analytics

Current Use

Retail space

Suggested Use

Top Pick Electrical Service Dental Office Real Estate Agency Kitchen & Bath Showroom Grocery & Convenience Store Plumbing Service

Score = modeled unmet demand for each use within ~1 mi (higher = bigger opportunity). Zoning and permitted uses should be independently verified with local authorities.

Lease Details

22,000 VPD
Traffic count
Yes
Highway access

Location Intelligence

Trade Area within ½ mile

249
Businesses Nearby

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
Check the figures for this property Cap Rate, Value Estimation, Potential NOI and more
View Realmo Analytics

Market

Vacancy Rate% for Retail in South region

7% 2020
6.2% 2021
5.1% 2022
4.8% 2023
4.9% 2024
5.4% 2025

Frequently Asked Questions

What type of property is this?
Retail space - Freestanding retail property with established parking and a drive-through window.
Where is this retail space 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: 5,000‑square‑foot freestanding retail building; 0.49‑acre site within a shopping center parking area; Winn Dixie serves as the shopping center’s anchor tenant
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