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    The Largest CRE Database in the US with Over 1 Million Listings
    Property profile & analytics

    931 Us Hwy 331st S Defuniak Springs, FL 32435-8720

    • Investment properties
    • 55,364 SF
    • 9.65 lot acres
    OFF-MARKET
    Last Sale
    Jul 21, 2023
    $5,350,000
    Value Estimations
    $5,420,000
    Show details
    Cap Rate Potential
    Location Intelligence
    Property ID
    US18-4879836
    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.

    Current Use by Public Records

    • Investment properties

    Property Details for 931 Us Hwy 331st S

    Year built
    1988
    Construction
    MASONRY/CONCRETE MASONRY UNITS (CMUS)
    Lot size
    9.65 lot acres
    Property size
    55,364 SF
    Zone code
    3310
    Property type
    Investment properties
    Property subtype
    Retail residential properties
    APN
    25-3N-19-19070-001-9170
    APU
    253N19190700019170

    Value Estimations

    based on Realmo’s proprietary methodology

    • AI approach

      Method
      Estimation
      Statistic approach
      $5,060,000
      ML approach
      $5,915,000

    • Comparable approach

      Method
      Estimation
      AI Estimate
      $3,923,000
      Market price range: $2.99M - $17.4M

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

    Location Insight

    • Map
    • Local Demand
    City
    Defuniak Springs
    County
    Walton
    State
    Florida
    Longitude
    -86.121
    Latitude
    30.7085
    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
    $74,347
    $1,227,226
    $4,588,958
    $5,816,184
    -
    $1,227,226
    $4,588,958
    $5,816,184

    Comparable in this City

    • Value Estimation by Request
      10.00 Acres

      331 Head Rd & Hwy

      Land • 10.00 Acres
      331 Head Rd & Hwy, Freeport, FL 32435
      View Details
    • Value Estimation by Request
      16.00 Acres

      1187 Us Highway 331

      Multifamily properties • 16.00 Acres
      1187 Us Highway 331, DeFuniak Springs, FL 32435
      View Details
    • Value Estimation by Request
      5.72 Acres

      Defuniak Springs, FL 32435

      VACANT COMMERCIAL LAND • 5.72 Acres
      Defuniak Springs, FL 32435
      View Details
    • Value Estimation by Request
      1,800 SF

      67 Fire Dept Ave

      WAREHOUSE, STORAGE • 1,800 SF
      67 Fire Dept Ave, Defuniak Springs, FL 32435-3868
      View Details
    • Value Estimation by Request
      4,130 SF

      90 Academy Ln

      OFFICE BUILDING • 4,130 SF
      90 Academy Ln, Defuniak Springs, FL 32435-8717
      View Details
    • Value Estimation by Request
      1,755 SF

      41 6th St

      OFFICE BUILDING • 1,755 SF
      41 6th St, Defuniak Springs, FL 32435-2500
      View Details

    Similar Nearby for Sale

    • $2,499,000
      25.00 Acres

      Prime 25-Acre Commercial Land

      DeFuniak Springs Development Opportunity
      0 Us Highway 331, DeFuniak Springs, FL 32435
      View Details
    • $30,000

      Vacant Lot For Sale

      Vacant lot available for development or investment.
      866 W Orange Ave, Defuniak Springs, FL 32435
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    • $45,000

      Cleared Land Near Downtown

      Over half an acre of land near downtown DeFuniak Springs.
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    • $8,500,000

      100 Acre Development Opportunity

      100-acre mixed-use development opportunity in a high-growth market.
      Sparkleberry Parcels, Freeport, FL 32435
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    • $5,000,000

      Highway 331 Land For Sale

      10 acres on Highway 331, development opportunity.
      331 Owl's Head Rd & Hwy U.S, Freeport, FL 32435
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    • $3,230,000
      2,300 SF

      New Development Del Taco Restaurant

      New Del Taco with 20-year NNN lease in Defuniak Springs.
      2760 Us Highway 331 S, Defuniak Springs, FL 32435
      View Details

    Similar Nearby for Lease

    • $15 SF/Yr
      2,439 SF

      Prime Defuniak Springs Retail Space

      Historic District, 2,439 SF, NNN Lease
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    • $16 SF/Yr
      3,414 SF

      Prime Defuniak Springs Medical Office Space

      3,414 SF medical office suite available for lease.
      4415 US Highway 331 S, Defuniak Springs, FL 32435
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    • $15 SF/Yr
      1,000 SF

      Retail Space in Defuniak Springs

      Winn Dixie anchored shopping center in a retail corridor.
      1030 Us Highway 331 S, Defuniak Springs, FL 32435
      View Details
    • $16 SF/Yr
      1,680 SF

      Defuniak Springs Medical Office Suite 400

      1,680 SF Office Space for Lease in MOB
      4415 US Highway 331 S, Defuniak Springs, FL 32435
      View Details
    • Contact for pricing
      553,200 SF

      Emerald Coast Logistics Center

      Modern Distribution Space in Defuniak Springs, FL
      1060 Mossy Head Plaza Dr, DeFuniak Springs, FL 32435
      View Details
    • Contact for pricing
      108,428 SF

      New Class A Distribution Warehouse

      Class A distribution/warehouse space available in Florida's Emerald Coast.
      1060 Mossy Head Plz Dr, Defuniak Springs, FL 32435
      View Details
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    Defuniak Springs, FL 32435-8720
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    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
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