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Property profile & analytics
OFF-MARKET
Estimated value
$1,210,000
Warehouses
5138 County Hwy 0605 Defuniak Springs, FL 32433-5787
Individually Owned
13-yr Hold
Free & Clear
Property ID
US18-5574618
Property profile
Verified
Property type
Warehouses
Use group
WAREHOUSE, STORAGE
Year built
2005
Total area
8,750 SF
Lot
176 ac (7,666,560 SF)
APN
23-5N-20-30000-001-0000
UPID
US18-5574618
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
by Request
CAP Approach
CAP
$1.16M
Comparable Approach
Comparable
$1.45M
Blend (final)
Blend
$1.21M
Owner & transaction history
James Nipper · 13 yrs held
James Nipper
since 2012
3 recorded transactions
Zoning & alternative use
Permitted uses
Permitted uses
Allowed · conditional · prohibited
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
by Request
ML approach
by Request
CAP Approach
CAP Return
Estimation
6%
$1,255,000
6.5%
$1,160,000
7%
$1,075,000
Alternative Use
Use
Estimation
WAREHOUSE, STORAGE
$1,050,000
Current use
OFFICE BUILDING
$1,010,000
Change: -4% · Conversion: Difficult
Blend value · Realmo final
$1.21M
Range $1.09M – $1.33M · ±10%
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
$138 / 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
$150
Tax year 2023
Assessed value
$488,686
Assessed 2023
Previous assessed
$490,922
-0.5% YoY
Effective rate
0.03%
On assessed value
Assessed land
$31,873
Assessed improvement
$456,813
Total market value
$913,975
Applied tax rate
5.0000
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
Warehouses
Use group
WAREHOUSE, STORAGE
Status
Off-Market
Year built
2005
Heating
NONE
Cooling
NONE
Buildings
3
Stories
1
Bathrooms
2
Total area
8,750 SF
Lot
176 ac (7,666,560 SF)
APN
23-5N-20-30000-001-0000
UPID
US18-5574618
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 Current
Est. value
$1.1M
OFFICE BUILDING
Est. value
$1.0M
WAREHOUSE, STORAGE Current
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
2005
Heating
NONE
Cooling
Yes
Stories
1
Buildings
3
Bathrooms
2
Lot
176 ac
Current owner
From public records · entity-resolved
James Nipper
Individual
Free & Clear · 13 yrs held
Mailing address
5138 COUNTY HWY 0605, DEFUNIAK SPRINGS, FL 32433-5787
Mailing matches property
Yes
Owner-occupied
Yes
Ownership since
2012
Owner contacts — direct phone, email, and related entities
Decision-maker phone · Verified email · Related entities & filings
Owner contacts
Email · phone · related entities
Sales History
3 recorded events · public records
Date
Price
Buyer
Seller
Deed Type
Mortgage
Nov 20, 2012
—
James Nipper
Nipper,melanie M
Quit Claim Deed
related
—
Aug 30, 2005
—
Melanie M Nipper
Marsicano,michael G
Quit Claim Deed
related
—
Apr 17, 2003
$255,200
John C Warren
Edwards,lanier J
Grant Deed
—
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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