Add Listing
    For Sale
    • For Sale
    • For Lease
    • Recently Sold
    • Property Lookup
    • Brokers
    Back to Search
    Florida Panhandle Ranch Ready Title is generated by Realmo AI

    248 Elmwood Road, Defuniak Springs, FL 32433

    View on Map
    Claim this Listing
    For Sale
    $124,900

    5.4-acre ranch with workshop, utilities, and spring-fed creek.

    Type:Land or Vacant Lot
    Lot size:
    5.40 Acres
    Added:
    Apr 2, 2026
    Days on Market:
    64
    Last Refresh:
    Apr 2 at 8:49 pm

    Property Features for 248 Elmwood Road

    General Information

    Standard status
    Active
    Lot size
    5.40 Acres
    Property subtype
    Land or Vacant Lot

    We can help!

    Listing Contact
    HILLER GROUP

    Listing agent HILLER GROUP License #no data

    Listing office EXP REALTY LLC

    Listing date Apr 2, 2026

    Source Corcoran

    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 EXP REALTY LLC

    HighLights

    • Turn‑key 5.4‑acre ranch with existing infrastructure: Includes a steel pole barn with power and RV plug, and a septic system.
    • Private and secluded setting: Surrounded by natural timber with a spring‑fed creek.
    • Custom‑built workshop/cabin: Features blown‑in foam insulation, dedicated heating and AC, and a porch.
    • Ready for immediate use: Stabilized gravel pad, elevated boardwalk, and professional landscaping in place.
    • Ideal location for outdoor enthusiasts: Minutes from the River and the Bay, suitable for fishing and hunting.
    • Cleared and improved land: Ready for a mobile home or other uses, with utilities installed.

    Overview

    Located in the Florida Panhandle, this 5.4-acre ranch on Elmwood Road features a functional setup. The property includes a steel pole barn on a stabilized gravel pad with power and an RV plug. A custom-built workshop/cabin offers blown-in foam insulation, a heating and AC unit, and a porch. The land features a spring-fed creek with water running through the property. An elevated boardwalk and landscaping with retaining walls enhance the site. Surrounded by timber, the property offers privacy. Modern infrastructure includes a septic tank and city water. The location is near the River and the Bay. The property is suited for outdoor activities and can accommodate a mobile home. It is located in DeFuniak Springs.
    Location Intelligence

    Current Use by Public Records

    Ranches

    Suggested Use

    Law Firm Building Supply Auto Repair Shop Department Store Discount Store Electrical Service Plumbing Service

    Zoning and permitted uses should be independently verified with local authorities.

    Location Insight

    • Map
    • Local Demand
    City
    Defuniak Springs
    County
    Walton
    State
    Florida
    Longitude
    -86.3729091
    Latitude
    30.7460915

    Nearby Similar for Sale

    • $425,000
      21,800 SF

      DeFuniak Springs Warehouses and Land

      5.5 acres with two warehouses and small office building.
      1408 State Highway 83, DeFuniak Springs, FL 32433
      View Details
    • $5,500,000

      High-Exposure Mixed-Use Property

      Mixed-use property with highway frontage and commercial zoning.
      59 Nina Street, Other Florida, FL 32433
      View Details
    • $100,000

      DeFuniak Springs Country Property

      Charming property with vegetable farm, living space, and storage.
      28 Meteyard Lane, DeFuniak Springs, FL 32433
      View Details
    • $16
      16,645 SF

      Medical Suite in Defuniak Springs

      Medical suite in multi-tenant building near hospital and I-10.
      4415 Hwy 331, Defuniak Springs, FL 32433
      View Details
    • $649,000
      1,300 SF

      Income-Producing Commercial Property For Sale

      Well-located commercial property with long-term tenant and recent upgrades.
      873 US HWY 331, DeFuniak Springs, FL 32435
      View Details
    • $124,900

      Florida Panhandle Ranch Ready

      5.4-acre ranch with improvements in DeFuniak Springs, Florida.
      248 Elmwood Road, DeFuniak Springs, FL 32433
      View Details
    • $135,000

      Overgrown Farm Property For Sale

      8.5-acre farm property with fenced pasture and abandoned barn.
      685 Pinewood Drive, DeFuniak Springs, FL 32433
      View Details
    • $5,795,000
      42,240 SF

      Northwest Florida Multifamily Investment Opportunity

      Well-maintained, renovated 55-unit multifamily property in Northwest Florida.
      125 N Davis Lane, Defuniak Springs, FL 32433
      View Details
    • $5,895,000
      42,000 SF

      Renovated Multifamily Investment Opportunity

      55-unit multifamily property with 95% occupancy in Northwest Florida.
      125 N Davis Ln, Defuniak Springs, FL 32433
      View Details
    • $900,000
      5,000 SF

      Free Standing Building For Sale

      5000 SF building with drive-thru and established parking.
      1026 S Us Highway 331, DeFuniak Springs, FL 32435
      View Details
    • $135,000

      Overgrown Farm Property For Sale

      Neglected farm property with fenced pasture and abandoned barn.
      685 Pinewood Drive, DeFuniak Springs, FL 32433
      View Details
    • $149,500

      Updated Retail Building For Sale

      Updated 1120 SF block building suitable for small business.
      7575 N US Highway 331, DeFuniak Springs, FL 32433
      View Details

    FAQs

    What type of property is this?
    Ranch - 5.4-acre ranch with workshop, utilities, and spring-fed creek.
    Where is this ranch located?
    The property is located at 248 Elmwood Road Defuniak Springs, FL.
    What is the asking price?
    The asking price for this property is $124,900.
    What are key features of this property?
    This property features: Turn‑key 5.4‑acre ranch with existing infrastructure: Includes a steel pole barn with power and RV plug, and a septic system.; Private and secluded setting: Surrounded by natural timber with a spring‑fed creek.; Custom‑built workshop/cabin: Features blown‑in foam insulation, dedicated heating and AC, and a porch.
    (850) 582-7653
    We can help!
    Listing Contact
    HILLER GROUP
    Real Estate License ID: no data
    Learn More
    Request Owner's contact information
    Message sent successfully
    Error
    If you are the owner or broker of this property and would like to edit or remove this listing please send a message to web site administrator.
    Message sent successfully
    Error
    Email to Your Friends
    Link copied to clipboard
    Separate multiple addresses with a comma
    Message sent successfully
    Error

    Realmo Value Estimations

    Realmo estimates a property’s market value using a proprietary methodology that incorporates public data and user-submitted information. This cumulative value is generated by integrating a variety of conventional and innovative methods. 

    Disclaimer

    These figures are not official appraisals and should not be used as a substitute for a valuation performed by a licensed appraiser.
    Actual market value may differ due to factors not captured in the data. Estimates are offered for informational purposes only, and users should conduct independent research before making financial or investment decisions.
    By using this feature, you acknowledge that Realmo is not responsible for actions taken based on these estimates.

    AI approach

    Realmo AI Method estimates property value using machine learning models trained on millions of comparable listings, transactions, and market signals. It analyzes property features, location intelligence data, and current market dynamics to predict the most probable market value in real time.

    Realmo CapRate Calculation

    Realmo calculates the Capitalization Rate (Cap Rate) to help estimate a property's potential return on investment. The Cap Rate is a fundamental metric in commercial real estate that measures the relationship between a property's net operating income and its market value.

    How We Calculate Cap Rate

    Cap Rate Formula:
    Cap Rate (%) = (Net Operating Income / Property Value) × 100

    Net Operating Income (NOI) Formula:
    NOI = Area × Lease Rate × (1 - Vacancy Rate) × (1 - Operating Expense Ratio)

    Components

    Net Operating Income (NOI) represents the annual income a property generates after operating expenses:

    • Area: Building square footage from property records
    • Lease Rate: Annual $/sqft based on market data for the property type and geographic location
    • Vacancy Rate: Percentage of unoccupied space based on market data for the property type and location
    • Operating Expense Ratio: Operating costs as a percentage of income, varies by property type

    Property Value is derived from:

    • Recent sale price (if available)
    • Statistical models using comparable sales
    • AI-powered valuation estimates

    Example Calculation

    For a 100,000 sqft Office Building:

    • Lease Rate: $25.00/sqft/year (market data for Office in this area)
    • Vacancy Rate: 8% (market data for Office in this area)
    • Operating Expense Ratio: 35% (typical for Office properties)
    • Property Value: $15,000,000

    Step 1: Calculate NOI

    NOI = 100,000 × $25.00 × (1 - 0.08) × (1 - 0.35)
    NOI = 100,000 × $25.00 × 0.92 × 0.65
    NOI = $1,495,000/year

    Step 2: Calculate Cap Rate

    Cap Rate = ($1,495,000 / $15,000,000) × 100
    Cap Rate = 9.97%

    Property Type Considerations

    Net Operating Income calculations vary by property type due to different operating expense ratios:

    • Office: Higher expenses (30-40%) for HVAC, utilities, maintenance
    • Retail: Moderate expenses (25-35%) for common area maintenance
    • Industrial/Warehouse: Lower expenses (15-25%) for minimal tenant services
    • Multifamily: Moderate expenses (35-45%) including property management
    • Self-Storage: Lower expenses (25-35%) due to minimal maintenance

    Market lease rates and vacancy rates are specific to each property type and geographic location, reflecting local market conditions.

    Disclaimer

    These calculations are estimates for informational purposes only and should not be used as a substitute for professional financial analysis or appraisal.

    • Cap Rate calculations depend on market data that may change over time
    • Actual operating expenses, lease rates, and vacancy rates may differ from market averages
    • Individual property conditions, lease terms, and tenant quality significantly impact actual NOI
    • Property value estimates are approximations and not official appraisals
    • Cap rates vary widely by market, property condition, and investment risk profile

    Professional Guidance Recommended: Before making any investment or financial decisions, consult with licensed appraisers, commercial real estate brokers, and financial advisors who can evaluate your specific property and circumstances.
    By using this feature, you acknowledge that Realmo is not responsible for investment decisions or actions taken based on these estimates.

    Cap approach

    Capitalization Method calculates value based on estimated net operating income (NOI) and applying a market-based capitalization rate (cap rate), we estimate what a typical investor might be willing to pay for it.

    Comparable approach

    Comparable estimate is based on recent sales of similar nearby properties, adjusted for factors like size, condition, and location.

    Relative

    Relative property class coefficient uses factors that account for typical price differences between various asset types (e.g., retail vs. industrial) to provide a more accurate market-aligned estimate.

    Geo

    Comparable Sales Method, enhanced by Geo coefficients — location-based adjustment factors that reflect differences in price levels across neighborhoods, cities, or regions ensuring a more accurate, market-sensitive valuation.

    Stat Estimate

    This method estimates value based on actual market adjusted recent (~5 years) sales of comparable properties around by location and property type.

    • Ranges - area data calculated by industry standard IQR Outlier Removal Method
    • Range-from: 75% of all similar sales ($/sqft) are above this value
    • Range-to: 75% of all similar sales ($/sqft) are below this value
    AI Estimate

    This method estimates value based on AI market estimation of comparable properties around by location and property type.

    • Ranges - area data calculated by industry standard IQR Outlier Removal Method
    • Range-from: 75% of all estimations ($/sqft) are above this value
    • Range-to: 75% of all estimations ($/sqft) are below this value
    Alternative use

    Estimate considers the property’s potential value if used for a different purpose-based on zoning, demand, and market feasibility.

    More about this property
    Thanks! Your message was sent.
    Error! Your message wasn't sent.
    Please enter your name
    Please enter email
    Please enter the email in the correct format
    Please enter phone
    Please enter the number in the correct format
    Please enter message
    Thank You

    You are Unsubscribed From Notifications

    Thank You for Inquiry
    248 Elmwood Road, DeFuniak Springs, FL 32433
    letter with green check mark
    Check your email
    We sent you the
    agent's contact details. yellow underline
    Can't find it?
    Please check your junk/spam folder.
    Google sign-in failed. Please try again or use another login method.
    Sign Up Successful!
    You now have access to more from Realmo!