Office Building Under
New
For Sale
$450,000
129 W Live Oak Ave, Defuniak Springs, FL 32435
C-1 commercial property includes rooms, a waiting area, and existing utility connections.
Property Size1,700 SF
Price / SF$264.71
Days on Market3
Property Features for 129 W Live Oak Ave
General Information
Standard status
Active
Size
1,700 SF
Property subtype
Commercial
Zoning
C-1
Additional Details
Utilities to Site
Yes
Building Details
Buildings
1
Listing Agency:
ELLIS REALTY LLC
(910) 789-3656
Listed By:
Zarina S Ellis · License #3397694
(910) 789-3656
Source:
Elliman
Added: Aug 12
Changed: Aug 13
Last Checked: Aug 13 at 9:25AM
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 ELLIS REALTY LLC
Investment Insights
Based on property information with market context.
This 1,700-square-foot commercial building is being fully remodeled for office use, with completion scheduled before closing. The planned interior includes multiple rooms and a waiting area, while the roof has been upgraded. City water, sewer, and electrical service are already in place.
The property includes a large lot that can accommodate overflow parking. It is located at 129 W Live Oak Ave in DeFuniak Springs, Florida, two blocks west of 331 S.
The property includes a large lot that can accommodate overflow parking. It is located at 129 W Live Oak Ave in DeFuniak Springs, Florida, two blocks west of 331 S.
Key Highlights
- 1,700‑square‑foot commercial building
- C‑1 zoning with office‑oriented layout
- Full remodel scheduled for completion before closing
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
$21,420
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
4.76%
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%
$428,400
$428.4K
Cap Rate 7%
$306,000
$306.0K
Cap Rate 9%
$238,000
$238.0K
Market Conditions
NOI Build-Up for 1,700 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
$35.7K $21.00/SF
− Vacancy
−$7.1K −$4.20/SF
EGI
$28.6K $16.80/SF
− OpEx
−$7.1K −$4.20/SF
NOI
$21.4K $12.60/SF
Area
Walton County, FL
Vacancy
20.00%
Lease Rate
$21.00 /SF/Yr
Expense Ratio
25.00%
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%
$428,400
Cap Rate 7%
$306,000
Cap Rate 9%
$238,000
Alternative Uses
Best Use
Office B
$306.0K
$267.8K – $357.0K
NOI $21,420 @ 7.0% cap · market cap 4.76%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$427.5K
$374.1K – $498.8K
NOI $29,927 @ 7.0% cap · market cap 6.65%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
Yes
Utilities to site
Location Intelligence
Trade Area within ½ mile
467
Businesses Nearby
Explore this area
Business Placement
Demographics for 32435, FL
6,935
Population
2,885
Households
2.4
Avg Household Size
44
Median Age
27%
College-Educated
91%
High-School Grad
136.7 sq mi
ZIP Area
51
Density / Sq Mi
$63,017
Median Household Income
$39,030
Median Earnings
$742
Median Rent
$185,600
Median Home Value
Market
Vacancy Rate% for Office in South region
Questions? Ask Rey
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Frequently Asked Questions
What type of property is this?
Office units - C-1 commercial property includes rooms, a waiting area, and existing utility connections.
Where is this office units located?
The property is located at 129 W Live Oak Ave Defuniak Springs, FL.
What is the asking price?
The asking price for this property is $450,000.
What are key features of this property?
This property features: 1,700‑square‑foot commercial building; C‑1 zoning with office‑oriented layout; Full remodel scheduled for completion before closing
