Northwest Florida Multifamily Investment
125 N Davis Lane Defuniak Springs, FL 32433
125 N Davis Lane, Defuniak Springs, FL, 32433
$5,579,500
For Sale
$5,579,500
Well-maintained, renovated 55-unit multifamily property in Northwest Florida.
Property Size42,240 SF
Lot Size4.34 Acres
Price / SF$132.09
Days on Market190
Property Features for 125 N Davis Lane
General Information
- Standard status
- Active
- Size
- 42,240 SF
- Lot size
- 4.34 Acres
- Property subtype
- Commercial
Building Details
- Year Built
- 1984
Listing Agency
SVN RIVIERA COMMERCIAL
(888) 240-0499
Listed by
DAVID BOATWRIGHT · License ##3185347
Source
Corcoran
Added: Jan 12 Updated: Jul 6 at 10:25 am Checked: Jul 19 at 4:22 am
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.
This multifamily investment opportunity is located in Northwest Florida. The property is a well-maintained and renovated 42,000 square foot, 55-unit multifamily building. It is located in a prime location zoned for Multifamily use. The property features a low-rise/garden style layout. A current in-place assumable Freddie Mac first mortgage exists with the following terms: Origination date of March 24, 2022, loan amount of $3,120,000, a 10-year term, 30-year amortization, and a rate of 3.54%. The property has a CAP Rate of 7.31% and a Net Operating Income (NOI) of $430,990.00. The property is located in Flood Zone X. Recent updates include new metal roofs in 2023 and freshly painted low maintenance hard coat stucco exteriors, also in 2023. The property boasts an impressive 95% occupancy rate.
Key Highlights
- Assumable Freddie Mac mortgage at a low rate of 3.54% originated in March 2022 with a remaining term.
- Enjoy a high occupancy rate of 95%.
- Strong Net Operating Income (NOI) of $430,990.00 and a 7.31% CAP Rate.
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 | −$163.2k | −$3.86 |
| EGI | $850.5k | $20.14 |
| − OpEx | −$382.7k | −$9.06 |
| NOI | $467.8k | $11.07 |
42,240 SF · lease $24.00/SF/yr · vacancy 16.10% · expense 45.00%
Alternative Uses
Best Use
Apartment 5plus
$6.68M
$5.85M – $7.80M
NOI $467,800 @ 7.0% cap · market cap 8.38%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$10.62M
$9.29M – $12.39M
NOI $743,593 @ 7.0% cap · market cap 13.33%
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 - Well-maintained, renovated 55-unit multifamily property in Northwest Florida.
Where is this apartment building located?
The property is located at 125 N Davis Lane 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: Assumable Freddie Mac mortgage at a low rate of 3.54% originated in March 2022 with a remaining term.; Enjoy a high occupancy rate of 95%.; Strong Net Operating Income (NOI) of $430,990.00 and a 7.31% CAP Rate.
