Office Building Under
For Sale
$450,000
129 W Live Oak Avenue, Defuniak Springs, FL 32435
Commercial for Sale, DeFuniak Springs, FL
Property Size1,700 SF
Lot Size0.46 Acres
Price / SF$264.71
Days on Market33
Property Features for 129 W Live Oak Avenue
General Information
Property type
Commercial Sale
Property subtype
Other
Zoning
Commercial
Directions
Located on the right of live oak
Subdivision
23 - North Walton County
Standard status
Active
APN
25-3N-19-19070-001-8723
Lot size
0.46 Acres
Taxes and HOA fees
Tax Description
W1/2 Of W1/2 Of Blk 1872 Town Of Defuniak Or 1284-134 Or 2635-3976 Or 3271-2445 Or 3329-2825
Legal Description
W1/2 Of W1/2 Of Blk 1872 Town Of Defuniak Or 1284-134 Or 2635-3976 Or 3271-2445 Or 3329-2825
Listing Agency:
Ellis Realty LLC
(910) 789-3656
Listed By:
Zarina S Ellis · License #3397694
(850) 650-4563
Added: Aug 10
Changed: Sep 11
Last Checked: Sep 11 at 3:06PM
MLS# 1009595
Copyright © 2026 Emerald Coast Association of Realtors. All rights reserved. All information provided by the listing agent/broker is deemed reliable but is not guaranteed and should be independently verified.
Investment Insights
Based on property information with market context.
This commercial office property is undergoing a full remodel scheduled for completion before closing. The planned configuration includes multiple rooms and a waiting area, while the roof has already been upgraded. City water, sewer, and electrical service are in place.
The property includes a 0.46-acre parcel at 129 W Live Oak Avenue in DeFuniak Springs, Florida. Its land area provides room for additional parking, including overflow capacity, subject to applicable requirements and site planning. The property is located two blocks west of 331 S.
The property includes a 0.46-acre parcel at 129 W Live Oak Avenue in DeFuniak Springs, Florida. Its land area provides room for additional parking, including overflow capacity, subject to applicable requirements and site planning. The property is located two blocks west of 331 S.
Key Highlights
- Full remodel scheduled for completion before closing
- Upgraded roof
- Planned office layout with rooms and waiting area
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
Unlock full access to Insights
Subscribe to Realmo Intelligence
Open Analytics
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
Check the figures for this property
Cap Rate, Value Estimation, Potential NOI and more
View Realmo Analytics
Market
Vacancy Rate% for Office 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?
Office building - Commercial office property with planned interior improvements, existing municipal utilities, and additional land for parking.
Where is this office building located?
The property is located at 129 W Live Oak Avenue 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: Full remodel scheduled for completion before closing; Upgraded roof; Planned office layout with rooms and waiting area
