Add Listing
    For Lease
    • For Sale
    • For Lease
    • Recently Sold
    • Property Lookup
    • Brokers
    310 Acres Near Highway 90 Title is generated by Realmo AI

    1118 North Norwood Road, Defuniak Springs, FL

    View on Map
    Claim this Listing
    Loading data...
    Loading data...
    Loading data...
    For Lease
    Contact for pricing

    310 acres suitable for residential, agricultural, or data center development.

    Type:LAND
    Lot size:
    310.00 Acres
    Added:
    Nov 24, 2025
    Days on Market:
    166
    Last Refresh:
    Apr 5 at 10:44 pm

    Property Features for 1118 North Norwood Road

    General Information

    Standard status
    Active
    Lot size
    310.00 Acres
    Property subtype
    LAND

    We can help!

    Listing Contact
    Thomas D. Watson

    Listing agent Thomas D. Watson

    Listing office CBRE, Inc.

    Listing date Nov 24, 2025

    Source Moodyscre

    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 CBRE, Inc.

    HighLights

    • ±310 acres with excellent access and visibility near US Highway 90 and I‑10.
    • Located in Defuniak Springs, the county seat of Walton County, the fastest‑growing county in Florida and the 4th fastest in the U.S.
    • Suitable for residential, agricultural, recreational, or data center development.
    • Minutes from the newly expanded DeFuniak Springs Municipal Airport terminal.
    • Minutes from South Walton beaches.
    • Strategic location offering excellent access and visibility.

    Overview

    This property features approximately 310 acres of land near US Highway 90 and I-10, providing excellent access and visibility. The site is suitable for residential, agricultural, recreational, or data center development. It is strategically located in Defuniak Springs, the county seat of Walton County, which is recognized as the fastest-growing county in Florida and the fourth-fastest in the United States. The property is situated minutes from the newly expanded DeFuniak Springs Municipal Airport terminal, a key regional aviation hub, and South Walton beaches, known as some of the most scenic and heavily visited beachfront communities in Florida.
    Property Profile Insight Report Location Intelligence

    Current Use by Public Records

    Land

    Map

    City
    Defuniak Springs
    County
    Walton
    State
    Florida
    Longitude
    -86.0854
    Latitude
    30.7668

    Nearby Similar for Lease

    • $900/Mo

      Quaint Office Building Near Downtown

      Small office building near downtown DeFuniak Springs available for rent.
      245 W Live Oak Avenue, DeFuniak Springs, FL 32435
      View Details
    • $5,000/Mo

      DeFuniak Springs Office Space

      Professional office space for lease on US-90.
      261 US-90, DeFuniak Springs, FL 32433
      View Details
    • Contact for pricing

      Medical Suite in DeFuniak Springs

      Medical suite in multi-tenant building near hospital and I-10.
      4415 Us Highway 331 S, Defuniak Springs, FL, 32435-6307
      View Details
    • $5,000/Mo

      Office Space Ready For Rent

      4,000 sq ft office space with utilities included.
      261 US-90, Defuniak Springs, FL
      View Details
    • $15 SF/Yr

      Highway 90 Commercial Opportunity

      4,000 SF building suitable for showroom, banquet hall, gallery.
      47 Dr Roberts Dr, Defuniak Springs, FL
      View Details
    • $15 SF/Yr

      Versatile Commercial Space on Hwy 90

      4,000 SF commercial building suitable for various uses.
      47 Dr Roberts Drive, DeFuniak Springs, FL 32433
      View Details
    • $16 SF/Yr

      Medical Office Building Near Hospital

      Multi-tenant medical office building adjacent to the area hospital.
      4415 US-331, Defuniak Springs, FL 32435
      View Details
    • Contact for pricing

      New Class A Distribution Warehouses

      Class A distribution/warehouses suitable for various industry needs.
      1060 Mossy Head Plaza Drive, DeFuniak Springs, FL, 32435
      View Details
    • $16 SF/Yr

      988 - 1,680 SF Office For Lease - North Walton Doctors Hospital MOB (Suite 400)

      1,680 SF medical office suite near North Walton Doctors Hospital.
      4415 US Highway 331 S, Defuniak Springs, FL 32435
      View Details
    • $16 SF/Yr

      3,414 SF North Walton Doctors Hospital MOB For Lease (Suite 600)

      3,414 SF medical office suite near North Walton hospital.
      4415 US Highway 331 S, Defuniak Springs, FL 32435
      View Details
    • $15 SF/Yr

      2,439 SF Retail For Lease - 852 Baldwin (Floor 1, Suite 852)

      2,439 SF retail space in Defuniak Springs' historic district.
      852 Baldwin Ave, Defuniak Springs, FL 32435
      View Details
    • $3,500/Mo

      DeFuniak Springs Office For Rent

      Office building for lease with highway frontage and ample parking.
      20 Shoemaker Drive, DeFuniak Springs, FL 32433
      View Details

    FAQs

    What type of property is this?
    Land - 310 acres suitable for residential, agricultural, or data center development.
    Where is this land located?
    The property is located at 1118 North Norwood Road Defuniak Springs, FL.
    What are key features of this property?
    This property features: ±310 acres with excellent access and visibility near US Highway 90 and I‑10.; Located in Defuniak Springs, the county seat of Walton County, the fastest‑growing county in Florida and the 4th fastest in the U.S.; Suitable for residential, agricultural, recreational, or data center development.
    (850) 527-3524 Call to check price and availability
    We can help!
    Contact for Pricing
    Please call us for current price
    and status of this listing
    Thomas D. Watson
    Learn More
    Request Owner's contact information
    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.
    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
    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

    Thank You for Inquiry
    1118 North Norwood Road, DeFuniak Springs, FL
    letter with green check mark
    Check your email
    We sent you the
    agent's contact details. yellow underline
    Can't find it?
    Please check your junk/spam folder.
    Google sign-in failed. Please try again or use another login method.
    Sign Up Successful!
    You now have access to more from Realmo!