Flexible-Layout Office
For Sale
$499,500
81 FL-83, Defuniak Springs, FL 32433
Commercial for Sale, DeFuniak Springs, FL
Property Size3,344 SF
Lot Size0.11 Acres
Price / SF$149.37
Days on Market1286
Property Features for 81 FL-83
General Information
Property type
Commercial Sale
Property subtype
Other
Zoning
Commercial
Directions
From the red light and Hwy 83 N, turn north and property- White block with metal roof
Subdivision
23 - North Walton County
Special listing conditions
In Foreclosure, Real Estate Owned
Standard status
Active
APN
25-3N-19-19070-000-7881
Lot size
0.11 Acres
Additional Details
Property Use
Office
Taxes and HOA fees
Tax Description
S 50FT OF LOTS 788 & 789 TOWN OF DEFUNIAK DB 205-215 OR 2835-2704 OR 2905-932 OR 2995-664 OR 3078-2077
Legal Description
S 50FT OF LOTS 788 & 789 TOWN OF DEFUNIAK DB 205-215 OR 2835-2704 OR 2905-932 OR 2995-664 OR 3078-2077
Amenities
full kitchen
washer/dryer
file room
conference areas
Building Details
Buildings
1
Listing Agency:
Realty West
(850) 892-2663
Listed By:
Joyce W Zaidi · License #446592
(850) 585-3902
Added: Apr 21, 2023
Changed: Oct 26
Last Checked: Oct 27 at 9:06AM
MLS# 921629
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.
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Investment Insights
Based on property information with market context.
This 3,344-square-foot block office building sits on a 0.11-acre parcel and offers a configuration that can support up to three rental units or a single business operation. The interior includes 10+ office spaces, two conference areas, three bathrooms, a file room, a full kitchen with dishwasher, and a room for a stackable washer and dryer. Separate heat pumps serve each unit, while city water and sewer are in place. Three-phase electric is available at the pole if needed.
The property is one block from Nelson Ave (Hwy 90) and near the historic area of DeFuniak Springs. Average daily traffic is 9,500 vehicles. The floor plan and existing plumbing support office, medical, laboratory, nail shop, or spa applications, subject to applicable requirements.
The property is one block from Nelson Ave (Hwy 90) and near the historic area of DeFuniak Springs. Average daily traffic is 9,500 vehicles. The floor plan and existing plumbing support office, medical, laboratory, nail shop, or spa applications, subject to applicable requirements.
Key Highlights
- 3,344‑square‑foot block building on 0.11 acres
- Interior layout supports up to 3 rental units or a single‑user configuration
- 10+ office spaces, 2 conference areas, 3 bathrooms, and a file room
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$45,252
Cap Rate
9.06%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$905,040
$905.0K
Cap Rate 7%
$646,457
$646.5K
Cap Rate 9%
$502,800
$502.8K
Market Conditions
NOI Build-Up for 3,344 SF
Gross rent
$84.3K $25.20/SF
− Vacancy
−$8.8K −$2.65/SF
EGI
$75.4K $22.55/SF
− OpEx
−$30.2K −$9.02/SF
NOI
$45.3K $13.53/SF
Area
Walton County, FL
Vacancy
10.50%
Lease Rate
$25.20 /SF/Yr
Expense Ratio
40.00%
Simulate Cap Rate and NOI
Suggested Prices Based on Cap Rates
Cap Rate 5%
$905,040
Cap Rate 7%
$646,457
Cap Rate 9%
$502,800
Alternative Uses
Best Use
Healthcare Medical
$646.5K
$565.7K – $754.2K
NOI $45,252 @ 7.0% cap · market cap 9.06%
Second Best
Office B
$601.9K
$526.7K – $702.2K
NOI $42,134 @ 7.0% cap · market cap 8.44%
Theoretical Best
Office A
$841.0K
$735.9K – $981.1K
NOI $58,868 @ 7.0% cap · market cap 11.79%
Zoning and permitted uses should be independently verified with authorities.
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Property Analytics
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Current Use
Lease Details
Yes
Highway access
Yes
Utilities to site
Location Intelligence
Trade Area within ½ mile
423
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
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Cap Rate, Value Estimation, Potential NOI and more
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Market
Vacancy Rate% for Office in South region
Frequently Asked Questions
What type of property is this?
Office building - Commercially zoned property with separate HVAC, substantial plumbing, and a layout adaptable to multiple professional uses.
Where is this office building located?
The property is located at 81 FL-83 Defuniak Springs, FL.
What is the asking price?
The asking price for this property is $499,500.
What are key features of this property?
This property features: 3,344‑square‑foot block building on 0.11 acres; Interior layout supports up to 3 rental units or a single‑user configuration; 10+ office spaces, 2 conference areas, 3 bathrooms, and a file room
