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    Medical Office Suites For Lease Title is generated by Realmo AI

    4415 US-331, Defuniak Springs, FL 32435

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    Move-in ready medical suites near North Walton County hospital.

    Type:Office
    Property size:
    1,680 SF
    Added:
    Oct 23, 2023
    Days on Market:
    955
    Last Refresh:
    May 12 at 9:25 pm

    Property Features for 4415 US-331

    General Information

    Standard status
    Active
    Size
    1,680 SF
    Property subtype
    Office

    Building Details

    Year Built
    2003

    Spaces For Lease

    at 4415 US-331 Contact us

    We can help!

    Listing Contact
    Wendy Partie
    Wendy Partie

    Listing agent Wendy Partie License #SL3580252

    Listing office NAI TALCOR - West FL Office

    Listing date Oct 23, 2023

    Source Crexi

    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 NAI TALCOR - West FL Office

    HighLights

    • Prime location adjacent to the only hospital serving North Walton County and surrounding areas.
    • Move‑in ready suites in a recently upgraded medical office building (MOB).
    • Strategically positioned near I‑10 in the rapidly growing Defuniak Springs area.
    • Suites include multiple exam rooms, restroom, and a nurses' station.
    • Access to a large common lobby, administrative support areas, and comprehensive lab services.
    • Space can be tailored for a variety of healthcare specialties.

    Overview

    Available for lease are two move-in ready suites within a multi-tenant medical office building. The building, comprising approximately 16,000 square feet, is located adjacent to the only hospital serving North Walton County and surrounding areas. Recent upgrades have been completed on the building. Its location near I-10 in the rapidly growing Defuniak Springs area positions it as a location for healthcare services. Suite 200 offers approximately 1,520 rentable square feet and includes five exam rooms, a restroom, and a nurses' station. Suite 400 provides approximately 1,680 rentable square feet, featuring five exam rooms, one office, one restroom, and a nurses' station. Both suites have access to a large common lobby, administrative support areas, private entrances for physicians and clinics, comprehensive lab services, shared nurses' stations, and modern staff facilities. The space can be tailored for various healthcare specialties, including pharmacy, sports medicine, pediatrics, and women's health. Time-share options are also available.
    Property Profile Location Intelligence

    Current Use by Public Records

    Healthmark Rural Health ... Medical Clinic

    Suggested Use

    Building Supply Big Box & Wholesale Store Auto Repair Shop Storage Facility Electrical Service Car Rental Facility Plumbing Service Tattoo & Piercing Shop

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

    Location Insight

    • Map
    • Local Demand
    City
    Defuniak Springs
    County
    Walton
    State
    Florida
    Longitude
    -86.1173105
    Latitude
    30.6592444

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    FAQs

    What type of property is this?
    Medical Office Space - Move-in ready medical suites near North Walton County hospital.
    Where is this medical office space located?
    The property is located at 4415 US-331 Defuniak Springs, FL.
    What is the lease rate?
    The lease rate is $16 SF/Yr.
    What are key features of this property?
    This property features: Prime location adjacent to the only hospital serving North Walton County and surrounding areas.; Move‑in ready suites in a recently upgraded medical office building (MOB).; Strategically positioned near I‑10 in the rapidly growing Defuniak Springs area.
    (601) 405-9820 Call to check price and availability
    We can help!
    Contact for Pricing
    Please call us for current price
    and status of this listing Wendy Partie
    Wendy Partie
    Real Estate License ID: SL3580252
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    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.

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