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    1187 Us Highway 331 DeFuniak Springs, FL 32435

    Sponsored
    For Sale
    $1,500,000

    16 Acres, Multi-Family Potential

    Description

    Added:
    Dec 11, 2024
    Days on Market:
    392
    Exceptional 16-acre development opportunity in Defuniak Springs, Florida, zoned for commercial use. This strategically located parcel, with APN 02-2N-19-18000-035-0000, presents significant growth potential in an up-and-coming area of Walton County. The property's address is 1187 US HWY 331 S, Defuniak Springs, FL 32435, conveniently situated approximately half a mile north of I-10. Surrounded by established national retailers including Subway, Taco Bell, Arby's, Dunkin' Donuts, Walgreens, Murphy's USA, AT&T, Lowe's, Walmart, and Econo Lodge, this site is ideally suited for multi-family development. The area is experiencing significant growth, further enhanced by the ongoing construction of the Veterans Lodge development, which is expected to attract additional residents. This presents a unique chance to capitalize on the expanding market and strong commercial presence. The asking price for this substantial land parcel is $1,500,000.

    Property Features for 1187 Us Highway 331

    General Information

    Property type
    Multifamily properties
    Lot Size
    696,960 SF

    HighLights

    • $1,500,000 asking price.
    • 16‑acre land parcel.
    • Multi‑family and commercial zoning permitted.
    • Located in Defuniak Springs, Walton County, Florida (APN: 02‑2N‑19‑18000‑035‑0000).
    • Excellent location near I‑10, surrounded by national retailers.
    Property Profile Location Intelligence

    Current Use by Public Records

    High-rise multifamily apartments

    Suggested Use

    Restaurant Realty agency Law Firm Building Supply Dental Office Spa & Massage Wholesale Shop Auto Repair Shop Hair Salon Clothing Store

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

    Location Insight

    • Map
    • Local Demand
    City
    DeFuniak Springs
    County
    Walton
    State
    Florida
    Longitude
    -86.122483624981
    Latitude
    30.705098714458

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    FAQs

    What type of property is this?
    Multifamily property - 16 Acres, Multi-Family Potential
    Where is this multifamily property located?
    The property is located at 1187 Us Highway 331 DeFuniak Springs, FL.
    What is the asking price?
    The asking price for this property is $1,500,000.
    What are key features of this property?
    This property features: $1,500,000 asking price.; 16-acre land parcel.; Multi-family and commercial zoning permitted.
    Request Owner's contact information
    1187 Us Highway 331 DeFuniak Springs, FL 32435
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    DeFuniak Springs, FL 32435
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    Realmo Value Estimation

    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.

    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.

    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
    1187 Us Highway 331 DeFuniak Springs, FL 32435
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