Quadplex with Central
For Sale
$949,999
108 Don Bishop Road, Santa Rosa Beach, FL 32459
Residential, Santa Rosa Beach, FL
Property Size4,604 SF
Price / SF$206.34
Days on Market371
Property Features for 108 Don Bishop Road
General Information
Property type
Residential Multi Family
Property subtype
Other
Zoning
Resid Multi-Family
Bedrooms
8
Bathrooms
8
Full bathrooms
8
Rooms
Bedroom 8, Master Bedroom, Bedroom 2, Bathroom 7, Bedroom 7, Bedroom 5, Bathroom 2, Bathroom 6, Bedroom 6, Bathroom 3, Bedroom 1, Bathroom 8, Bathroom 1, Bathroom 4, Bedroom 4, Bedroom 3, Bathroom 5
Exterior features
Balcony
Subdivision
SANTA ROSA PLACE APARTMENTS
Elementary school
Van R Butler
Middle school
Emerald Coast
High school
Freeport
Directions
Drive north on South County Highway 393/CR 393. Left to US 98/US Highway 98 West. Right to Don Bishop Road. Turn right. Property is on the right.
Standard status
Active
APN
28-2S-20-33500-000-0130
Size
4,604 SF
Taxes and HOA fees
Tax Description
Lot 13 Santa Rosa Place Apartments PB 15-36 OR 2495-1628 OR 2632-3226 OR 3083-1041
Legal Description
Lot 13 Santa Rosa Place Apartments PB 15-36 OR 2495-1628 OR 2632-3226 OR 3083-1041
Utilities
Sewer type
Public Sewer
Cooling system
Central Air
Building Details
Year built
2004
Floors in Building
2
Building materials
Siding Wood
Architectural style
Other
Listing Agency:
Beycome of Florida LLC
Listed By:
Steve Koleno · License #BK3469487
(804) 656-5007
Added: Oct 22, 2025
Changed: Oct 21
Last Checked: Oct 27 at 6:06PM
MLS# 988093
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.
Ask AI about this property
Review the available facts, identify missing information and prepare questions for the agent.
Investment Insights
Based on property information with market context.
This 4,604-square-foot quadplex contains four residential units, each arranged with two bedrooms and two bathrooms. The building was constructed in 2004 and features wood siding, central air, balconies, and public sewer service. The property was newly painted on November 9, 2025.
Located at 108 Don Bishop Road in Santa Rosa Beach, the property carries Resid Multi-Family zoning. All four units have long-term tenants, providing an established occupancy profile. The consistent unit layouts create a uniform residential configuration within the building.
Located at 108 Don Bishop Road in Santa Rosa Beach, the property carries Resid Multi-Family zoning. All four units have long-term tenants, providing an established occupancy profile. The consistent unit layouts create a uniform residential configuration within the building.
Key Highlights
- 4,604 square feet with four residential units
- Each unit includes 2 bedrooms and 2 baths
- Newly painted November 9, 2025
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$55,693
Cap Rate
5.86%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$1,113,860
$1.1M
Cap Rate 7%
$795,614
$795.6K
Cap Rate 9%
$618,811
$618.8K
Market Conditions
NOI Build-Up for 4,604 SF
Gross rent
$93.9K $20.40/SF
− Vacancy
−$14.4K −$3.12/SF
EGI
$79.6K $17.28/SF
− OpEx
−$23.9K −$5.18/SF
NOI
$55.7K $12.10/SF
Area
Walton County, FL
Vacancy
15.29%
Lease Rate
$20.40 /SF/Yr
Expense Ratio
30.00%
Simulate Cap Rate and NOI
Suggested Prices Based on Cap Rates
Cap Rate 5%
$1,113,860
Cap Rate 7%
$795,614
Cap Rate 9%
$618,811
Alternative Uses
Best Use
Multifamily LT 5
$795.6K
$696.2K – $928.2K
NOI $55,693 @ 7.0% cap · market cap 5.86%
Second Best
Apartment 5plus
$728.4K
$637.4K – $849.8K
NOI $50,988 @ 7.0% cap · market cap 5.37%
Theoretical Best
Office A
$1.16M
$1.01M – $1.35M
NOI $81,049 @ 7.0% cap · market cap 8.53%
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
Lease Details
4
Residential units
Location Intelligence
Trade Area within ½ mile
209
Businesses Nearby
Explore this area
Business Placement
Demographics for 32459, FL
20,567
Population
17,700
Households
1.2
Avg Household Size
43
Median Age
48%
College-Educated
96%
High-School Grad
54.5 sq mi
ZIP Area
377
Density / Sq Mi
$101,067
Median Household Income
$53,393
Median Earnings
$2,165
Median Rent
$613,100
Median Home Value
Check the figures for this property
Cap Rate, Value Estimation, Potential NOI and more
View Realmo Analytics
Market
Vacancy Rate% for Multifamily in South region
Frequently Asked Questions
What type of property is this?
Quadplex - Four residential units offer matching two-bedroom, two-bath layouts with balconies and long-term tenants.
Where is this quadplex located?
The property is located at 108 Don Bishop Road Santa Rosa Beach, FL.
What is the asking price?
The asking price for this property is $949,999.
What are key features of this property?
This property features: 4,604 square feet with four residential units; Each unit includes 2 bedrooms and 2 baths; Newly painted November 9, 2025
