Renovated Multifamily Investment
125 N Davis Ln Defuniak Springs, FL 32433
125 N Davis Ln, Defuniak Springs, FL, 32433
$5,579,500
For Sale
$5,579,500
55-unit multifamily property with 95% occupancy in Northwest Florida.
Property Size42,000 SF
Price / SF$132.85
Days on Market137
Property Features for 125 N Davis Ln
General Information
- Standard status
- Active
- Size
- 42,000 SF
- Property subtype
- Multifamily
Listing agency
SVN RIVIERA COMMERCIAL
(850) 240-3122
Listed by
Gordon MacLean, CCIM · License #FL #BK3223217
(850) 240-3122
Source
Svn
Added: Mar 6 Updated: Jul 6 at 10:54AM Checked: Jul 21 at 5:30AM
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 SVN RIVIERA COMMERCIAL
Investment Insights
Based on property information with market context.
Located in Northwest Florida, this multifamily property features 55 units within a 42,000 SF low-rise/garden building. The property, zoned for Multifamily use, has undergone a recent renovation in 2023, including new metal roofs and freshly painted low-maintenance hard coat stucco exteriors. The property maintains an impressive 95% occupancy rate. The location offers proximity to major thoroughfares, the historic downtown area, Chautauqua Vineyard & Winery, and Lake DeFuniak. An assumable Freddie Mac loan at 3.54% with approximately 7 years remaining is available.
Key Highlights
- Impressive 95% occupancy rate indicating strong performance.
- Assumable Freddie Mac loan at 3.54% with approximately 7 years remaining.
- Recently renovated in 2023, including new metal roofs and fresh paint.
Local Financial Insights For Apartment 5plus
Simulate Cap Rate and NOI
NOI Build-Up
- Vacancy
- income lost from leasable area expected to sit empty during the year — subtracted from gross rent.
- EGI (Effective Gross Income)
- gross rent minus vacancy losses — the realistic income before paying operating costs.
- OpEx (Operating Expenses)
- recurring costs to operate the property (property tax, insurance, utilities, maintenance, management) — excludes financing and capital improvements.
- NOI (Net Operating Income)
- income a property generates after operating costs but before financing and taxes.
| Component | $ | $/SF |
|---|---|---|
| Gross rent | $1.01M | $24.00 |
| − Vacancy | −$162.3k | −$3.86 |
| EGI | $845.7k | $20.14 |
| − OpEx | −$380.6k | −$9.06 |
| NOI | $465.1k | $11.07 |
42,000 SF · lease $24.00/SF/yr · vacancy 16.10% · expense 45.00%
Alternative Uses
Best Use
Apartment 5plus
$6.64M
$5.81M – $7.75M
NOI $465,142 @ 7.0% cap · market cap 8.34%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$10.56M
$9.24M – $12.32M
NOI $739,368 @ 7.0% cap · market cap 13.25%
Zoning and permitted uses should be independently verified with local authorities.
Property Analytics
Property Profile
Location Intelligence
Current Use by Public Records
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FAQs
What type of property is this?
Apartment building - 55-unit multifamily property with 95% occupancy in Northwest Florida.
Where is this apartment building located?
The property is located at 125 N Davis Ln Defuniak Springs, FL.
What is the asking price?
The asking price for this property is $5,579,500.
What are key features of this property?
This property features: Impressive 95% occupancy rate indicating strong performance.; Assumable Freddie Mac loan at 3.54% with approximately 7 years remaining.; Recently renovated in 2023, including new metal roofs and fresh paint.
