Add Listing
    Property Lookup
    • For Sale
    • For Lease
    • Recently Sold
    • Property Lookup
    • Brokers
    493 State Hwy 83 Defuniak Springs, FL 32433-3814
    Back to Search
    Property profile & analytics

    493 State Hwy 83, Defuniak Springs, FL 32433-3814

    View on Map
    • Office buildings
    • 1,090 SF
    • 0.27 lot acres
    Off-Market
    Last Sale Jan 27, 2022
    $146,700
    Property ID
    US18-6338472
    The Realmo ID is a unique identifier assigned to every property, incorporating country codes and precise geo-coordinates for 300x300-foot land blocks. It enables standardized data collection and seamless integration of disparate sources such as ownership, tax, title data and physical specifications. By aggregating current and historical records, the Realmo ID powers advanced analytics and delivers deep, verifiable insights for real estate professionals.
    Value Estimations
    Cap Rate Potential
    Location Intelligence

    Current Use by Public Records

    • Office buildings

    Property Details for 493 State Hwy 83

    Year built
    1997
    Construction
    WOOD FRAME
    Lot size
    0.27 lot acres
    Property type
    Office buildings
    APN
    25-3N-19-19070-001-6206
    APU
    253N19190700016206

    Sales History

    Date Price Buyer Seller Deed Type Mortgage
    Jan 27, 2022 $146,700 Michael Graham Sara C Keith Warranty Deed $116k · Fnbt Bank
    Mar 28, 2019 $5,000 Keith,sara C Trust City Of Defuniak Springs Flori Quit Claim Deed · related —
    Dec 8, 2015 $85,000 Sara C Keith Lindsey,janie C Warranty Deed · related —

    Value Estimations

    based on Realmo’s proprietary methodology

    • AI approach

    • CAP approach

    • Comparable approach

    • Alternative Use

    Get a detailed, property-specific estimation — fast and free

    Location Insight

    • Map
    • Local Demand
    City
    Defuniak Springs
    County
    Walton
    State
    Florida
    Longitude
    -86.1149
    Latitude
    30.7287
    CBSA code
    18880
    CBSA name
    CRESTVIEW-FORT WALTON BEACH-DESTIN, FL METROPOLITAN STATISTICAL AREA

    Property Tax & Assessments

    Tax date
    Tax Amount
    Assessed Land Value
    Assessed Improvement Value
    Total Assessed Value
    Applied Tax Rate
    Land Market Value
    Improvement Market Value
    Total Market Value
    2023
    $1,573
    $33,215
    $80,639
    $113,854
    -
    $33,215
    $80,639
    $113,854

    Comparable in this City

    • Value Estimation by Request
      1,728 SF

      Pioneer Dr

      OFFICE BUILDING
      Pioneer Dr, Defuniak Springs, FL 32433
      View Details
    • Value Estimation by Request
      1,050 SF

      15399 State Hwy 83

      OFFICE BUILDING
      15399 State Hwy 83, Defuniak Springs, FL 32433-1105
      View Details
    • Value Estimation by Request
      4,528 SF

      684 State Hwy 83

      OFFICE BUILDING
      684 State Hwy 83, Defuniak Springs, FL 32433-3802
      View Details
    • Value Estimation by Request
      2,137 SF

      2574 Us Hwy 90th W

      OFFICE BUILDING
      2574 Us Hwy 90th W, Defuniak Springs, FL 32433-6733
      View Details
    • Value Estimation by Request
      1,284 SF

      1688 Us Hwy 90th W

      OFFICE BUILDING
      1688 Us Hwy 90th W, Defuniak Springs, FL 32433-1469
      View Details
    • Value Estimation by Request
      3,321 SF

      2243 State Hwy 83

      OFFICE BUILDING
      2243 State Hwy 83, Defuniak Springs, FL 32433-3942
      View Details

    Similar Nearby for Sale

    • $249,000

      1.12 Acre Commercial Parcel

      1.12 acre parcel suitable for various commercial uses.
      17 Nowling Dr, Defuniak Springs, FL 32433
      View Details
    • $279,900

      DeFuniak Springs Commercial Opportunity

      1.59 acre site near airport with two-story home.
      2186 W Us Highway 90, Defuniak Springs, FL 32433
      View Details
    • Contact for pricing

      Medical Suite in DeFuniak Springs

      Medical suite in multi-tenant building near hospital in growing area.
      4415 Us Highway 331, Defuniak Springs, FL 32433
      View Details
    • $5,500,000
      0.97 Acres

      High-Exposure Mixed-Use Property

      Mixed-use property with highway frontage and commercial zoning.
      59 Nina St, Defuniak Springs, FL 32433
      View Details
    • Contact for pricing
      16,645 SF

      Medical Suite in Defuniak Springs

      Medical suite in multi-tenant building near hospital and I-10.
      4415 Us Highway 331, Defuniak Springs, FL 32433
      View Details

    Similar Nearby for Lease

    • $3,500 /Mo
      1,125 SF

      DeFuniak Springs Office For Rent

      Office building for lease with highway frontage and ample parking.
      20 Shoemaker Dr, Defuniak Springs, FL 32433
      View Details
    • $5,000 /Mo
      4,000 SF

      DeFuniak Springs Office Space

      Professional office space for lease on US-90.
      261 Us Highway 90, Defuniak Springs, FL 32433
      View Details
    • Contact for pricing
      4,000 SF

      Office Space Ready For Rent

      4,000 sq ft office space with utilities included.
      261 Us Highway 90, Defuniak Springs, FL 32433
      View Details
    • $1,500 /Mo
      1,000 SF

      DeFuniak Springs Office Space

      1000 SF office space in a prime commercial location.
      81 State Highway 83, Defuniak Springs, FL 32433
      View Details
    • $7,615 /Mo

      DeFuniak Springs Commercial Property

      Commercial property available for rent in DeFuniak Springs, Florida.
      10724 Us Highway 90, Defuniak Springs, FL 32433
      View Details
    • $15 SF/Yr
      4,000 SF

      Versatile Commercial Space on Hwy 90

      4,000 SF commercial building suitable for various uses.
      47 Dr Roberts Dr, Defuniak Springs, FL 32433
      View Details
    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.
    493 State Hwy 83
    Defuniak Springs, FL 32433-3814
    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
    493 State Hwy 83, 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!