Renovated 55-Unit Apartment
For Sale
$5,895,000
125 N Davis Ln Defuniak, Defuniak Springs, FL 32433
Low-rise garden property with 2023 roof and exterior improvements, multifamily zoning, and strong resident occupancy.
Property Size42,000 SF
Price / SF$140.36
Days on Market193
Property Features for 125 N Davis Ln Defuniak
General Information
Standard status
Active
Size
42,000 SF
Class
C
Property subtype
MultiFamily Apartments
Occupancy
95%
Additional Details
Multifamily Units
55
Building Details
Building Size
42,000 SF
Year Renovated
2023
Construction
garden-style
Listing Agency:
SVN | Riviera Commercial
(888) 240-0499
Listed By:
Gordon MacLean · License ##BK3223217
(888) 240-0499
Source:
Thebrokerlist
Added: Feb 18
Changed: Aug 30
Last Checked: Aug 30 at 12:11PM
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 at 125 N Davis Ln in Defuniak Springs, Florida, this low-rise garden apartment property contains 42,000 SF and 55 units. The multifamily-zoned asset underwent renovation in 2023, including installation of new metal roofs and fresh paint on its low-maintenance hard-coat stucco exteriors.
Occupancy is reported at 95%. The property is positioned in Northwest Florida near major thoroughfares, with nearby points of interest including historic downtown, Chautauqua Vineyard & Winery, and Lake DeFuniak. Its garden-style configuration, renovated improvements, and established occupancy provide a defined multifamily operating profile.
Occupancy is reported at 95%. The property is positioned in Northwest Florida near major thoroughfares, with nearby points of interest including historic downtown, Chautauqua Vineyard & Winery, and Lake DeFuniak. Its garden-style configuration, renovated improvements, and established occupancy provide a defined multifamily operating profile.
Key Highlights
- 42,000 SF low‑rise garden apartment property
- 55‑unit multifamily asset with 95% occupancy
- 2023 renovation included new metal roofs
Financial Insights
Estimated NOI and Cap Rate
NOI = area × lease_rate × (100 − vacancy) / 100 × (1 − expense_ratio). Net Operating Income — what the owner takes home each year before mortgage payments and income tax. Effective rent (asking rent minus vacancy losses) minus operating costs (taxes, insurance, maintenance, management).
NOI / Yr
$465,142
Cap rate = NOI / list price × 100. Capitalization rate — annual return on a fully cash purchase, before financing. NOI divided by price. Higher means more income per dollar invested, but usually also more risk or older condition. 5–8% is typical for stabilized commercial property; double digits often signal distressed deals.
Cap Rate
7.89%
Suggested Prices Based on Cap Rates
Cap rates vary significantly by property type, market, and asset quality.
Typical U.S. stable-market ranges:
Multifamily — 4.5% to 6.5% (Class A in primary markets often sub-5%; Class C in secondary markets 6%+)
Industrial / Logistics — 5.0% to 7.0% (compressed heavily in recent years due to e-commerce demand)
Office — 6.5% to 9%+ (wide spread post-2020; CBD Class A vs. suburban Class B varies dramatically)
Retail — 5.5% to 8.5% (grocery-anchored on the low end, unanchored strip centers higher)
Hospitality / Hotels — 7.5% to 10%+ (higher due to operational risk)
Self-Storage — 5.5% to 7.5%
Medical Office — 6.0% to 7.5%
Net Lease (single tenant, credit) — 5.0% to 7.0% depending on tenant credit and lease term
Rules of thumb:
Primary markets (NYC, SF, LA, Boston, DC) trade at lower cap rates than secondary/tertiary markets, often by 100–200 bps (bps, aka basis points; 1 bp = 0.01%).
Class A assets trade ~50–150 bps tighter than Class B, and Class B tighter than Class C.
Cap rates move inversely with price — a lower cap rate means a higher price for the same NOI.
Spread to the 10-year Treasury is a common benchmark; historically 200–400 bps over the 10-year.
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
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.
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 rates vary significantly by property type, market, and asset quality.
Typical U.S. stable-market ranges:
Multifamily — 4.5% to 6.5% (Class A in primary markets often sub-5%; Class C in secondary markets 6%+)
Industrial / Logistics — 5.0% to 7.0% (compressed heavily in recent years due to e-commerce demand)
Office — 6.5% to 9%+ (wide spread post-2020; CBD Class A vs. suburban Class B varies dramatically)
Retail — 5.5% to 8.5% (grocery-anchored on the low end, unanchored strip centers higher)
Hospitality / Hotels — 7.5% to 10%+ (higher due to operational risk)
Self-Storage — 5.5% to 7.5%
Medical Office — 6.0% to 7.5%
Net Lease (single tenant, credit) — 5.0% to 7.0% depending on tenant credit and lease term
Rules of thumb:
Primary markets (NYC, SF, LA, Boston, DC) trade at lower cap rates than secondary/tertiary markets, often by 100–200 bps (bps, aka basis points; 1 bp = 0.01%).
Class A assets trade ~50–150 bps tighter than Class B, and Class B tighter than Class C.
Cap rates move inversely with price — a lower cap rate means a higher price for the same NOI.
Spread to the 10-year Treasury is a common benchmark; historically 200–400 bps over the 10-year.
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 7.89%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$10.56M
$9.24M – $12.32M
NOI $739,368 @ 7.0% cap · market cap 12.54%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Current Use
Lease Details
55
Residential units
95%
Occupancy
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
Market
Vacancy Rate% for Multifamily in South region
Questions? Ask Rey
Realmo’s AI knows this listing — price, zoning, demand, history. Ask anything.
Frequently Asked Questions
What type of property is this?
Apartment building - Low-rise garden property with 2023 roof and exterior improvements, multifamily zoning, and strong resident occupancy.
Where is this apartment building located?
The property is located at 125 N Davis Ln Defuniak Defuniak Springs, FL.
What is the asking price?
The asking price for this property is $5,895,000.
What are key features of this property?
This property features: 42,000 SF low‑rise garden apartment property; 55‑unit multifamily asset with 95% occupancy; 2023 renovation included new metal roofs
