801 Acres in Defuniak Springs, FL - $1,421,775
Situated just three miles south of the Interstate 10 / Highway 331 interchange near Defuniak Springs, Florida, the Hodges Tract enjoys an excellent location. Highway 331 is an important artery that funnels traffic to the Gulf of Mexico's Emerald Coast less than 30 minutes to the south communities there include Destin, Seaside, and WaterColor, among others.
Due to its proximity to these important transportation links, the Hodges Tract has zoning on a portion of its property that provides higher-and-better use opportunities. Zoning categories include commercial, industrial, and estate residential. Largely for this reason, the appraised value in April 2011 was $5,500 per acre. It is now owned by an investment group that has priced the property for appreciably less - only $1,775 per acre!
Aesthetically, the Hodges Tract is very attractive, possessing considerable variation in topograph...
Aesthetically, the Hodges Tract is very attractive, possessing considerable variation in topography and land cover. Within its boundaries, there is merchantable and pre-merchantable pines, pasture areas, three ponds, and crystalline Blount Creek that traverses the property through beautiful hardwoods and native azaleas. Additionally, there are two mobile homes on the property.
While the Hodges Tract displays contains a tremendous amount of diversity suitable for recreational activities, it has valuable timber resources that provide a strong economic boost to an acquisition.
