Renovated Multifamily Investment
For Sale
$5,195,000
125 N Davis Ln, Defuniak Springs, FL 32433
55-unit multifamily property with 95% occupancy in Northwest Florida.
Property Size42,000 SF
Price / SF$123.69
Days on Market217
Property Features for 125 N Davis Ln
General Information
Standard status
Active
Size
42,000 SF
Class
C
Property subtype
Multifamily
Building Details
Building Size
42,000 SF
Year Built
1984
Listing Agency:
SVN | Riviera Commercial
Listed By:
Gordon MacLean, CCIM · License #FL #BK3223217
(850) 240-3122
Source:
Svn
Added: Mar 6
Changed: Sep 26
Last Checked: Oct 7 at 8:45AM
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.
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$465,142
Cap Rate
8.95%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$9,302,840
$9.3M
Cap Rate 7%
$6,644,886
$6.6M
Cap Rate 9%
$5,168,244
$5.2M
Market Conditions
NOI Build-Up for 42,000 SF
Gross rent
$1.01M $24.00/SF
− Vacancy
−$162.3K −$3.86/SF
EGI
$845.7K $20.14/SF
− OpEx
−$380.6K −$9.06/SF
NOI
$465.1K $11.07/SF
Area
Walton County, FL
Vacancy
16.10%
Lease Rate
$24.00 /SF/Yr
Expense Ratio
45.00%
Simulate Cap Rate and NOI
Suggested Prices Based on Cap Rates
Cap Rate 5%
$9,302,840
Cap Rate 7%
$6,644,886
Cap Rate 9%
$5,168,244
Alternative Uses
Best Use
Apartment 5plus
$6.64M
$5.81M – $7.75M
NOI $465,142 @ 7.0% cap · market cap 8.95%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$10.56M
$9.24M – $12.32M
NOI $739,368 @ 7.0% cap · market cap 14.23%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
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Open Analytics
Current Use
Location Intelligence
Trade Area within ½ mile
66
Businesses Nearby
Explore this area
Business Placement
Demographics for 32433, FL
18,036
Population
8,059
Households
2.2
Avg Household Size
40
Median Age
13%
College-Educated
83%
High-School Grad
251.3 sq mi
ZIP Area
72
Density / Sq Mi
$51,604
Median Household Income
$35,086
Median Earnings
$1,045
Median Rent
$152,000
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
Questions? Ask Rey
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Frequently Asked Questions
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 $5,195,000.
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.
