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Property profile & analytics
OFF-MARKET
Estimated value
$2,135,000
Retail space
1528 State Hwy 83 Defuniak Springs, FL 32433-3822
Entity Owned
2-yr Hold
Free & Clear
Property ID
US18-2615965
Property profile
Verified
Property type
Retail space
Use group
RETAIL STORES (PERSONAL SERVICES)
Year built
2023
Construction
STEEL FRAME
Total area
12,819 SF
Lot
3.49 ac (152,199 SF)
APN
23-3N-19-19000-003-0010
UPID
US18-2615965
Cap rate & NOI
Priority signal for investors
Implied cap rate, NOI & suggested price
Cap rate vs submarket · NOI estimate · 3 price anchors
Implied cap rate, NOI & suggested price
Cap vs submarket · NOI estimate · 3 price anchors
Value estimations
Realmo proprietary · 4 methods
AI Approach
AI
$1.90M
CAP Approach
CAP
$2.28M
Comparable Approach
Comparable
by Request
Blend (final)
Blend
$2.14M
Owner & transaction history
Dke INC · 2 yrs held
Dke INC
since 2023
Last sale
$2.3M
6 recorded transactions
Zoning & alternative use
Permitted uses
Permitted uses
Allowed · conditional · prohibited
Top alternative use upside
Warehouse, storage
$1.5M
+29.3%
Office building
$1.5M
+24.3%
Cap rate
Implied · in-place · derived from last sale + estimated NOI
Implied Cap rate
#1
Implied · in-place · NOI ÷ last sale
In-place · derived from last sale + estimated NOI
Cap rate, NOI & submarket benchmark
Implied cap rate vs Defuniak Springs submarket · NOI estimate · Typical band, median & reading
Implied cap rate, NOI & submarket benchmark
Cap vs Defuniak Springs submarket · NOI estimate · typical band, median & reading
Refine your cap rate
8-question underwriting flow
1.
Property current status — Going-In vs Stabilized
2.
Price for denominator — asking / offer / market
3.
Leasing status & lease structure (NNN / Gross)
4.
Tenant risk profile & vacancy assumption
5.
Upload T12 / rent roll / OM (optional)
Refine in 60 seconds, get exact suggested price
T12 upload · Submarket benchmarks · Sensitivity grid
Suggested price · 3 cap rate anchors
Income approach @ 5% / 7% / 9% — aggressive / typical / conservative
Suggested price at 5% / 7% / 9% cap
Aggressive / typical / conservative · Implied $/SF per anchor · Sensitivity grid
Suggested price at 5% / 7% / 9% cap
Aggressive / typical / conservative · implied $/SF · sensitivity
Value
AI, CAP & Alternative Use estimations · Realmo proprietary blendValue Estimations
Based on Realmo’s proprietary methodology
AI Approach
Method
Estimation
Statistic approach
$1,980,000
ML approach
$1,895,000
CAP Approach
CAP Return
Estimation
6%
$2,465,000
6.5%
$2,275,000
7%
$2,110,000
Alternative Use
Use
Estimation
WAREHOUSE, STORAGE
$1,540,000
Change: +29% · Conversion: Difficult
OFFICE BUILDING
$1,480,000
Change: +24% · Conversion: Easy
Blend value · Realmo final
$2.14M
Range $1.92M – $2.35M · ±10% · vs last sale $2.27M (Dec 20 2023)
Last sale anchor
$2.27M
Dec 20 2023
Realmo estimate · informational only.
These numbers are calculated by our models from public records and may not reflect actual market value.
Not an appraisal.
Verify with a licensed appraiser before transacting. Realmo accepts no liability for divergence from real-world outcomes.
View the full estimation — every method, every assumption
Confidence drivers & risk notes · Custom comparable set · Free for first 3 / day
Full estimation methodology
Every method · every assumption · confidence drivers
Price per SF
Sale + rent benchmarks
Subject property
$167 / SF
Submarket sale & rent benchmarks
Median sale $/SF · Asking & closed rent · Submarket vacancy
Submarket sale & rent benchmarks
Median sale $/SF · asking & closed rent · submarket vacancy
Property tax & assessments
Tax year 2023Property tax & assessments
Tax year 2023
Tax billed
$1,058
Tax year 2023
Assessed value
$126,303
Assessed 2023
Previous assessed
$71,785
+75.9% YoY
Effective rate
0.84%
On assessed value
Assessed land
$104,098
Assessed improvement
$22,205
Land market value
$104,098
Improvement market value
$22,205
Total market value
$126,303
Applied tax rate
10.0000
Comparables
6 recent transactions · within 1.5 miComparable in this city
6 recent transactions
Comparable in this City
Similar Nearby for Sale
Similar Nearby for Lease
Recent comparable sales
Sale price & price/SF · Sale date & distance · Adjustments & confidence
Recent comparable sales
Sale price & $/SF · sale date & distance · adjustments
Property description
Physical attributes from public recordsBuilding & lot
Public records
Property type
Retail space
Use group
RETAIL STORES (PERSONAL SERVICES)
Status
Off-Market
Year built
2023
Construction
STEEL FRAME
Heating
FORCED AIR
Cooling
CENTRAL
Stories
1
Bathrooms
1
Total area
12,819 SF
Lot
3.49 ac (152,199 SF)
APN
23-3N-19-19000-003-0010
UPID
US18-2615965
Jurisdiction
WALTON
Zoning & alternative use
Zoning · permitted uses
Permitted & conditional uses
Allowed uses · Special-permit conditions · Prohibited uses
Permitted & conditional uses
Allowed · special-permit conditions · prohibited
Alternative use value scenarios
Repositioning upside vs current use
WAREHOUSE, STORAGE
Est. value
$1.5M
OFFICE BUILDING
Est. value
$1.5M
WAREHOUSE, STORAGE
OFFICE BUILDING
Alternative use deep dive — conversion cost, permits, timeline
Conversion cost estimate · Permit path & risks · Stabilized NOI per option
Alternative use deep dive
Conversion cost · permit path · stabilized NOI per option
Building & site characteristics
From public records
Year built
2023
Construction
STEEL FRAME
Heating
FORCED AIR
Cooling
Yes
Stories
1
Bathrooms
1
Lot
3.49 ac
Current owner
From public records · entity-resolved
Dke INC
Entity
Free & Clear · 2 yrs held
Mailing address
238 CREWILLA DR NW, FORT WALTON BEACH, FL 32548-3906
Ownership since
2023
Owner contacts — direct phone, email, and related entities
Decision-maker phone · Verified email · Related entities & filings
Owner contacts
Email · phone · related entities
Sales History
6 recorded events · public records
Date
Price
Buyer
Seller
Deed Type
Mortgage
Dec 20, 2023
$2,266,400
Dke INC
Teramore Development LLC
Special Warranty Deed
—
May 19, 2023
$325,000
Teramore Development LLC
Paul S Otto SR.
Warranty Deed
$1,235,140 · Ameris Bank
Oct 8, 2010
$100,000
Paul S Otto SR.
Dennis E Arnold
Warranty Deed
$75,000 · Peoples National Bank
Jan 17, 2008
$32,500
Dennis E Arnold
Arnold,crystal D
Quit Claim Deed
related
—
Oct 31, 2005
—
Crystal D Arnold
Arnold,dennis E
Quit Claim Deed
related
—
Oct 28, 2005
—
Crystal D Arnold
Arnold,dennis E
Quit Claim Deed
related
—
Coming soon
Costs & Benchmarks
Operating expenses, capex projections, utility benchmarks, and submarket comparables — all in one view.
Coming soon
Risks
Flood, climate, environmental, title, and tenant-concentration risk — surfaced with mitigations and source citations.
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